Silverfin false false 31/03/2024 01/04/2023 31/03/2024 C Bainbridge 26/11/2019 15 August 2024 The principal activity of the Company during the financial year was that of a water sports athlete. 12334105 2024-03-31 12334105 bus:Director1 2024-03-31 12334105 2023-03-31 12334105 core:CurrentFinancialInstruments 2024-03-31 12334105 core:CurrentFinancialInstruments 2023-03-31 12334105 core:ShareCapital 2024-03-31 12334105 core:ShareCapital 2023-03-31 12334105 core:RetainedEarningsAccumulatedLosses 2024-03-31 12334105 core:RetainedEarningsAccumulatedLosses 2023-03-31 12334105 core:PlantMachinery 2023-03-31 12334105 core:PlantMachinery 2024-03-31 12334105 core:CostValuation 2023-03-31 12334105 core:CostValuation 2024-03-31 12334105 2023-04-01 2024-03-31 12334105 bus:FilletedAccounts 2023-04-01 2024-03-31 12334105 bus:SmallEntities 2023-04-01 2024-03-31 12334105 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12334105 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12334105 bus:Director1 2023-04-01 2024-03-31 12334105 core:PlantMachinery 2023-04-01 2024-03-31 12334105 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 12334105 (England and Wales)

BLUEFOX WATER SPORTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

BLUEFOX WATER SPORTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

BLUEFOX WATER SPORTS LIMITED

BALANCE SHEET

As at 31 March 2024
BLUEFOX WATER SPORTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 28,600 12,283
Investments 4 1 1
28,601 12,284
Current assets
Stocks 5 0 2,580
Debtors 6 5,939 7,557
Cash at bank and in hand 1,900 42
7,839 10,179
Creditors: amounts falling due within one year 7 ( 26,639) ( 31,031)
Net current liabilities (18,800) (20,852)
Total assets less current liabilities 9,801 (8,568)
Net assets/(liabilities) 9,801 ( 8,568)
Capital and reserves
Called-up share capital 1 1
Profit and loss account 9,800 ( 8,569 )
Total shareholder's funds/(deficit) 9,801 ( 8,568)

For the financial year ending 31 March 2024 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 Bluefox Water Sports Limited (registered number: 12334105) were approved and authorised for issue by the Director on 15 August 2024. They were signed on its behalf by:

C Bainbridge
Director
BLUEFOX WATER SPORTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
BLUEFOX WATER SPORTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Bluefox Water Sports 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 Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, 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 £.

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 basis over its expected useful life, as follows:

Plant and machinery 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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

2024 2023
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 Total
£ £
Cost
At 01 April 2023 18,909 18,909
Additions 25,851 25,851
At 31 March 2024 44,760 44,760
Accumulated depreciation
At 01 April 2023 6,626 6,626
Charge for the financial year 9,534 9,534
At 31 March 2024 16,160 16,160
Net book value
At 31 March 2024 28,600 28,600
At 31 March 2023 12,283 12,283

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 April 2023 1 1
At 31 March 2024 1 1
Carrying value at 31 March 2024 1 1
Carrying value at 31 March 2023 1 1

5. Stocks

2024 2023
£ £
Stocks 0 2,580

6. Debtors

2024 2023
£ £
Trade debtors 944 4,044
Other debtors 4,995 3,513
5,939 7,557

7. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 26,639 31,031