Registered number
12617810
Superyachttender Ltd
Filleted Accounts
31 May 2023
Superyachttender Ltd
Registered number: 12617810
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,764 2,164
Current assets
Debtors 4 - 977
Cash at bank and in hand 201 9
201 986
Creditors: amounts falling due within one year 5 (957) (2,955)
Net current assets/(liabilities) (756) (1,969)
Net assets/(liabilities) 2,008 195
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,007 194
Shareholder's funds 2,008 195
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Wood
Director
Approved by the board on 22 February 2024
Superyachttender Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment 15% reducing balance
Professional library 15% reducing balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Going concern
The company’s balance sheet shows a net liability position. However, the director considers the company can continue to rely upon his own support to ensure that its liabilities can be settled when they fall due. Accordingly, these financial statements have been prepared on a going concern basis and do not include any provision for adjustments that may become necessary if the support referred to above were withdrawn.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Equipment Professional library Total
£ £ £
Cost
At 1 June 2022 2,145 850 2,995
Additions 1,087 - 1,087
At 31 May 2023 3,232 850 4,082
Depreciation
At 1 June 2022 595 236 831
Charge for the year 395 92 487
At 31 May 2023 990 328 1,318
Net book value
At 31 May 2023 2,242 522 2,764
At 31 May 2022 1,550 614 2,164
4 Debtors 2023 2022
£ £
Other debtors - 977
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 286 2,355
Other creditors 671 600
957 2,955
6 Other information
Superyachttender Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Fell
Fallapit Cottages
Totnes
Devon
TQ9 7QS
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