Acorah Software Products - Accounts Production 15.0.500 false true false 7 November 2022 30 November 2023 30 November 2023 14466030 Ms Ivanka Damyanova Mr Antonios Platanias Mr Kenneth Mackinnon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14466030 2022-11-06 14466030 2023-11-30 14466030 2022-11-07 2023-11-30 14466030 frs-core:CurrentFinancialInstruments 2023-11-30 14466030 frs-core:ShareCapital 2023-11-30 14466030 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 14466030 frs-bus:PrivateLimitedCompanyLtd 2022-11-07 2023-11-30 14466030 frs-bus:FilletedAccounts 2022-11-07 2023-11-30 14466030 frs-bus:SmallEntities 2022-11-07 2023-11-30 14466030 frs-bus:AuditExempt-NoAccountantsReport 2022-11-07 2023-11-30 14466030 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-07 2023-11-30 14466030 frs-bus:Director1 2022-11-07 2023-11-30 14466030 frs-bus:Director2 2022-11-07 2023-11-30 14466030 frs-bus:CompanySecretary1 2022-11-07 2023-11-30 14466030 frs-core:CurrentFinancialInstruments 1 2023-11-30 14466030 frs-countries:EnglandWales 2022-11-07 2023-11-30
Registered number: 14466030
GBR Yachts Management Limited
Unaudited Financial Statements
For the Period 7 November 2022 to 30 November 2023
Mouktaris & Co Ltd
Chartered Accountants & Registered Auditors
156a Burnt Oak Broadway
Edgware
Middlesex
HA8 0AX
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 14466030
30 November 2023
Notes
CURRENT ASSETS
Debtors 3 81,411
Cash at bank and in hand 22,505
103,916
Creditors: Amounts Falling Due Within One Year 4 (50,527 )
NET CURRENT ASSETS (LIABILITIES) 53,389
TOTAL ASSETS LESS CURRENT LIABILITIES 53,389
PROVISIONS FOR LIABILITIES
Provisions For Charges (4,000 )
NET ASSETS 49,389
CAPITAL AND RESERVES
Called up share capital 5 115
Income Statement 49,274
SHAREHOLDERS' FUNDS 49,389
For the period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Antonios Platanias
Director
30 July 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements are prepared in Euro (€), which is the functional currency of the entity.
1.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Foreign Currencies
Items included in the company's financial statements are measured using the currency of the primary economic environment in which the entity operates ('the functional currency'). The financial statements are presented in Euro (€), which is the company's functional and presentation currency.
1.4. Taxation
The tax expense represents the sum of the corporation tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL
-
Page 2
Page 3
3. Debtors
30 November 2023
Due within one year
Trade debtors 1,058
Other debtors 869
Payments in advance 79,484
81,411
4. Creditors: Amounts Falling Due Within One Year
30 November 2023
Corporation tax 11,558
Other creditors 97
Payments on account 38,872
50,527
5. Share Capital
30 November 2023
Allotted, Called up and fully paid 115
6. General Information
GBR Yachts Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14466030 . The registered office is 156a Burnt Oak Broadway, Edgware, Middlesex, HA8 0AX.
Page 3