Silverfin false false 30/06/2023 01/07/2022 30/06/2023 L Mccallin 13/06/2012 31 January 2024 The principal activity of the Company during the financial year was that of property development. 08104536 2023-06-30 08104536 bus:Director1 2023-06-30 08104536 2022-06-30 08104536 core:CurrentFinancialInstruments 2023-06-30 08104536 core:CurrentFinancialInstruments 2022-06-30 08104536 core:ShareCapital 2023-06-30 08104536 core:ShareCapital 2022-06-30 08104536 core:RetainedEarningsAccumulatedLosses 2023-06-30 08104536 core:RetainedEarningsAccumulatedLosses 2022-06-30 08104536 core:OfficeEquipment 2022-06-30 08104536 core:OfficeEquipment 2023-06-30 08104536 2022-07-01 2023-06-30 08104536 bus:FilletedAccounts 2022-07-01 2023-06-30 08104536 bus:SmallEntities 2022-07-01 2023-06-30 08104536 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 08104536 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 08104536 bus:Director1 2022-07-01 2023-06-30 08104536 core:OfficeEquipment core:TopRangeValue 2022-07-01 2023-06-30 08104536 2021-07-01 2022-06-30 08104536 core:OfficeEquipment 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Company No: 08104536 (England and Wales)

VICTORY YACHTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

VICTORY YACHTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

VICTORY YACHTS LIMITED

BALANCE SHEET

As at 30 June 2023
VICTORY YACHTS LIMITED

BALANCE SHEET (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,031 513
1,031 513
Current assets
Stocks 4 400 400
Debtors 5 0 228
Cash at bank and in hand 24 16
424 644
Creditors: amounts falling due within one year 6 ( 3,801) ( 840)
Net current liabilities (3,377) (196)
Total assets less current liabilities (2,346) 317
Net (liabilities)/assets ( 2,346) 317
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 2,446 ) 217
Total shareholder's (deficit)/funds ( 2,346) 317

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Victory Yachts Limited (registered number: 08104536) were approved and authorised for issue by the Director on 31 January 2024. They were signed on its behalf by:

L Mccallin
Director
VICTORY YACHTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
VICTORY YACHTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Victory Yachts Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Flat 1, 39 Southbourne Overcliff Drive, Bournemouth, BH6 3PL, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 July 2022 710 710
Additions 849 849
At 30 June 2023 1,559 1,559
Accumulated depreciation
At 01 July 2022 197 197
Charge for the financial year 331 331
At 30 June 2023 528 528
Net book value
At 30 June 2023 1,031 1,031
At 30 June 2022 513 513

4. Stocks

2023 2022
£ £
Stocks 400 400

5. Debtors

2023 2022
£ £
Other debtors 0 228

6. Creditors: amounts falling due within one year

2023 2022
£ £
Other creditors 3,801 840