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Company Registration No. 09946509 (England and Wales)
Legend Sailing Limited Unaudited accounts for the year ended 31 March 2022
Legend Sailing Limited Unaudited accounts Contents
Page
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Legend Sailing Limited Company Information for the year ended 31 March 2022
Director
Mr R H Banim
Company Number
09946509 (England and Wales)
Registered Office
C/O My Tax Point 12 Nicholas Street Chester Cheshire CH1 2NX
Accountants
My Tax Point 12 Nicholas Street Chester Cheshire CH1 2NX
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Legend Sailing Limited Statement of financial position as at 31 March 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
70,000 
73,588 
Current assets
Debtors
439 
730 
Cash at bank and in hand
1,196 
2,782 
1,635 
3,512 
Creditors: amounts falling due within one year
(163,804)
(162,163)
Net current liabilities
(162,169)
(158,651)
Net liabilities
(92,169)
(85,063)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(92,269)
(85,163)
Shareholders' funds
(92,169)
(85,063)
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 September 2022 and were signed on its behalf by
Mr R H Banim Director Company Registration No. 09946509
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Legend Sailing Limited Notes to the Accounts for the year ended 31 March 2022
1
Statutory information
Legend Sailing Limited is a private company, limited by shares, registered in England and Wales, registration number 09946509. The registered office is C/O My Tax Point, 12 Nicholas Street, Chester, Cheshire, CH1 2NX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of value added tax and discounts, of work carried out in respect of services provided to customers
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% and 33.3% Straight Line
Going concern
At the year end the company's liabilities exceeded its assets by £92,169 and as such the company's ability to continue to operate depends on the support of its Director. The Financial Statements have been prepared on a going concern basis as the Director intends to give his support for the foreseeable future.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Legend Sailing Limited Notes to the Accounts for the year ended 31 March 2022
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2021
134,455 
Additions
609 
At 31 March 2022
135,064 
Depreciation
At 1 April 2021
60,867 
Charge for the year
4,197 
At 31 March 2022
65,064 
Net book value
At 31 March 2022
70,000 
At 31 March 2021
73,588 
5
Debtors: amounts falling due within one year
2022 
2021 
£ 
£ 
Other debtors
439 
730 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade creditors
2,213 
572 
Loans from directors
161,591 
161,591 
163,804 
162,163 
7
Average number of employees
During the year the average number of employees was 0 (2021: 0).
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