Silverfin false false 31/03/2024 16/03/2023 31/03/2024 I J Walker 16/03/2023 L D Walker 16/03/2023 02 August 2024 The principal activity of the Company during the financial year was to provide consultancy and tactical advice to the sailing industry. 14735920 2024-03-31 14735920 bus:Director1 2024-03-31 14735920 bus:Director2 2024-03-31 14735920 core:CurrentFinancialInstruments 2024-03-31 14735920 core:ShareCapital 2024-03-31 14735920 core:RetainedEarningsAccumulatedLosses 2024-03-31 14735920 core:PlantMachinery 2023-03-15 14735920 2023-03-15 14735920 core:PlantMachinery 2024-03-31 14735920 bus:OrdinaryShareClass1 2024-03-31 14735920 bus:OrdinaryShareClass2 2024-03-31 14735920 bus:OrdinaryShareClass3 2024-03-31 14735920 bus:OrdinaryShareClass4 2024-03-31 14735920 2023-03-16 2024-03-31 14735920 bus:FilletedAccounts 2023-03-16 2024-03-31 14735920 bus:SmallEntities 2023-03-16 2024-03-31 14735920 bus:AuditExemptWithAccountantsReport 2023-03-16 2024-03-31 14735920 bus:PrivateLimitedCompanyLtd 2023-03-16 2024-03-31 14735920 bus:Director1 2023-03-16 2024-03-31 14735920 bus:Director2 2023-03-16 2024-03-31 14735920 core:PlantMachinery 2023-03-16 2024-03-31 14735920 bus:OrdinaryShareClass1 2023-03-16 2024-03-31 14735920 bus:OrdinaryShareClass2 2023-03-16 2024-03-31 14735920 bus:OrdinaryShareClass3 2023-03-16 2024-03-31 14735920 bus:OrdinaryShareClass4 2023-03-16 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14735920 (England and Wales)

IAN WALKER SAILING LIMITED

Unaudited Financial Statements
For the financial period from 16 March 2023 to 31 March 2024
Pages for filing with the registrar

IAN WALKER SAILING LIMITED

Unaudited Financial Statements

For the financial period from 16 March 2023 to 31 March 2024

Contents

IAN WALKER SAILING LIMITED

COMPANY INFORMATION

For the financial period from 16 March 2023 to 31 March 2024
IAN WALKER SAILING LIMITED

COMPANY INFORMATION (continued)

For the financial period from 16 March 2023 to 31 March 2024
DIRECTORS I J Walker (Appointed 16 March 2023)
L D Walker (Appointed 16 March 2023)
REGISTERED OFFICE 29 Thornton Avenue Warsash
Southampton
SO31 9FL
United Kingdom
COMPANY NUMBER 14735920 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Towngate House
2-8 Parkstone Road
Poole
Dorset BH15 2PW
IAN WALKER SAILING LIMITED

BALANCE SHEET

As at 31 March 2024
IAN WALKER SAILING LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Tangible assets 3 8,708
8,708
Current assets
Debtors 4 6,737
Cash at bank and in hand 9,813
16,550
Creditors: amounts falling due within one year 5 ( 13,649)
Net current assets 2,901
Total assets less current liabilities 11,609
Net assets 11,609
Capital and reserves
Called-up share capital 6 4
Profit and loss account 11,605
Total shareholders' funds 11,609

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ian Walker Sailing Limited (registered number: 14735920) were approved and authorised for issue by the Board of Directors on 02 August 2024. They were signed on its behalf by:

I J Walker
Director
IAN WALKER SAILING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 16 March 2023 to 31 March 2024
IAN WALKER SAILING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 16 March 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Ian Walker 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 29 Thornton Avenue Warsash, Southampton, SO31 9FL, 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 pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

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 [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 20 % 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

Period from
16.03.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 16 March 2023 0 0
Additions 9,500 9,500
At 31 March 2024 9,500 9,500
Accumulated depreciation
At 16 March 2023 0 0
Charge for the financial period 792 792
At 31 March 2024 792 792
Net book value
At 31 March 2024 8,708 8,708

4. Debtors

31.03.2024
£
Trade debtors 6,409
Other debtors 328
6,737

5. Creditors: amounts falling due within one year

31.03.2024
£
Taxation and social security 2,801
Other creditors 10,848
13,649

6. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
1 Ordinary A share of £ 1.00 1
1 Ordinary B share of £ 1.00 1
1 Ordinary C share of £ 1.00 1
1 Ordinary D share of £ 1.00 1
4