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Company No: 07685159 (England and Wales)

YACHT TRAINING BERND REESE GB LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

YACHT TRAINING BERND REESE GB LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

YACHT TRAINING BERND REESE GB LTD

BALANCE SHEET

As at 31 December 2023
YACHT TRAINING BERND REESE GB LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 64,753 65,839
64,753 65,839
Current assets
Debtors 4 21,653 11,608
Cash at bank and in hand 11,945 14,207
33,598 25,815
Creditors: amounts falling due within one year 5 ( 82,032) ( 43,790)
Net current liabilities (48,434) (17,975)
Total assets less current liabilities 16,319 47,864
Net assets 16,319 47,864
Capital and reserves
Called-up share capital 100 100
Profit and loss account 16,219 47,764
Total shareholder's funds 16,319 47,864

For the financial year ending 31 December 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 Yacht Training Bernd Reese GB Ltd (registered number: 07685159) were approved and authorised for issue by the Director on 18 March 2024. They were signed on its behalf by:

B M Reese
Director
YACHT TRAINING BERND REESE GB LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
YACHT TRAINING BERND REESE GB LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

Yacht Training Bernd Reese GB Ltd (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 Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is Unit 68, Port Hamble, Hamble, Southampton, SO31 4NN.

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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

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 reducing balance basis over its expected useful life, as follows:

Plant and machinery 10 % reducing balance
Office equipment 10 % reducing balance
Computer equipment 25 % reducing balance

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.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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

Plant and machinery Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 January 2023 179,581 1,349 495 181,425
Additions 5,865 0 0 5,865
At 31 December 2023 185,446 1,349 495 187,290
Accumulated depreciation
At 01 January 2023 113,758 1,349 479 115,586
Charge for the financial year 6,947 0 4 6,951
At 31 December 2023 120,705 1,349 483 122,537
Net book value
At 31 December 2023 64,741 0 12 64,753
At 31 December 2022 65,823 0 16 65,839

4. Debtors

2023 2022
£ £
Trade debtors 38 40
Other debtors 21,615 11,568
21,653 11,608

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,518 6,691
Other taxation and social security 83 3,316
Other creditors 80,431 33,783
82,032 43,790