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Company No: 04081667 (England and Wales)

HOSHI SAILING LIMITED

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

HOSHI SAILING LIMITED

Financial Statements

For the financial year ended 31 October 2023

Contents

HOSHI SAILING LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2023
HOSHI SAILING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTOR Philippe Fauveder
REGISTERED OFFICE The St Botolph Building 138
Houndsditch
London
EC3A 7AR
United Kingdom
COMPANY NUMBER 04081667 (England and Wales)
AUDITOR Dixon Wilson Audit Services LLP
22 Chancery Lane
London
WC2A 1LS
HOSHI SAILING LIMITED

BALANCE SHEET

As at 31 October 2023
HOSHI SAILING LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
Fixed assets
Tangible assets 3 525,487 521,867
525,487 521,867
Current assets
Debtors 4 718 718
718 718
Creditors: amounts falling due within one year 5 ( 873,912) ( 828,675)
Net current liabilities (873,194) (827,957)
Total assets less current liabilities (347,707) (306,090)
Net liabilities ( 347,707) ( 306,090)
Capital and reserves
Called-up share capital 133,898 133,898
Profit and loss account ( 481,605 ) ( 439,988 )
Total shareholders' deficit ( 347,707) ( 306,090)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Hoshi Sailing Limited (registered number: 04081667) were approved and authorised for issue by the Director on 30 July 2024. They were signed on its behalf by:

Philippe Fauveder
Director
HOSHI SAILING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
HOSHI SAILING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 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

Hoshi Sailing 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 The St Botolph Building 138, Houndsditch, London, EC3A 7AR, 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 euros which is the functional currency of the Company and rounded to the nearest €.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The financial statements have been prepared on a going concern basis. The director notes that the business has net liabilities of €347,707. The Company is supported through loans from the Parent Company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Tangible fixed assets

Tangible fixed assets are stated at cost , less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is charged as to write off the cost of assets over their estimated useful lives, as follows:

Plant and machinery etc. not depreciated

Depreciation has been suspended during restoration.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangements, as financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 etc. Total
Cost
At 01 November 2022 622,970 622,970
Additions 3,620 3,620
At 31 October 2023 626,590 626,590
Accumulated depreciation
At 01 November 2022 101,103 101,103
At 31 October 2023 101,103 101,103
Net book value
At 31 October 2023 525,487 525,487
At 31 October 2022 521,867 521,867

4. Debtors

2023 2022
Other debtors 718 718

5. Creditors: amounts falling due within one year

2023 2022
Amounts owed to Group undertakings 863,410 824,888
Other creditors 10,502 3,787
873,912 828,675

6. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 October 2023 was unqualified.

The audit report was signed by Steven Wakefield on 31 July 2024 on behalf of Dixon Wilson Audit Services LLP.

7. Ultimate controlling party

Parent Company:

The company's immediate parent is Odyssée SARL, incorporated in France.
The registered office is Centre d'affairs ICARE, Bâtiment E, 44550 Montoir de Bretagne, France.

The ultimate controlling party is PJM Fauveder.