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COMPANY REGISTRATION NUMBER: 09764013
Trident Yacht Alliance Limited
Filleted Unaudited Financial Statements
30 September 2023
Trident Yacht Alliance Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
Current assets
Debtors
4
30,819
30,701
Cash at bank and in hand
8,193
631
--------
--------
39,012
31,332
Creditors: amounts falling due within one year
5
99,374
134,604
--------
---------
Net current liabilities
60,362
103,272
--------
---------
Total assets less current liabilities
( 60,362)
( 103,272)
--------
---------
Net liabilities
( 60,362)
( 103,272)
--------
---------
Capital and reserves
Called up share capital
30,000
30,000
Profit and loss account
( 90,362)
( 133,272)
--------
---------
Shareholders deficit
( 60,362)
( 103,272)
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 March 2024 , and are signed on behalf of the board by:
Mr M A Newton-Woof
Director
Company registration number: 09764013
Trident Yacht Alliance Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4th Floor, 58-59 Great Marlborough Street, London, W1F 7JY, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2023
2022
£
£
Other debtors
30,819
30,701
--------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
990
910
Social security and other taxes
40
Other creditors
98,384
133,654
--------
---------
99,374
134,604
--------
---------
Other creditors include loans from shareholder companies MennYacht Europe AG £46,781 (2022 £41,781), Ekka Yachts S.A. £50,773 (2022: £41,273)
6. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in debtors (note 4)
30,701
30,701
--------
--------
This consists of Deferred Tax Asset arising on tax losses available to carry forward against future profit.
7. Related party transactions
A loan of £45,319.72 was written off, payable to an associate company Ventura UK limited.