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REGISTERED NUMBER: SC259916 (Scotland)












Financial Statements

for the Year Ended 30 November 2023

for

Scotsail Training Limited

Scotsail Training Limited (Registered number: SC259916)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Scotsail Training Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: S E Kerr





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC259916 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Scotsail Training Limited (Registered number: SC259916)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 70,444 82,875

CURRENT ASSETS
Debtors 5 14,180 32,751
Cash at bank 4,986 29,025
19,166 61,776
CREDITORS
Amounts falling due within one year 6 12,654 15,724
NET CURRENT ASSETS 6,512 46,052
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,956

128,927

CREDITORS
Amounts falling due after more than one year 7 81,198 103,133
NET (LIABILITIES)/ASSETS (4,242 ) 25,794

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (4,342 ) 25,694
SHAREHOLDERS' FUNDS (4,242 ) 25,794

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Scotsail Training Limited (Registered number: SC259916)

Balance Sheet - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 August 2024 and were signed by:





S E Kerr - Director


Scotsail Training Limited (Registered number: SC259916)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Scotsail Training Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue represents amounts chargeable to clients for professional services provided during the year, net of any sales tax. Services to clients, which include chartering of boats and income from sailing instruction, which at the balance sheet date have not been billed, have been recognised as revenue. Revenue is recognised by reference to an assessment of the fair value of the services provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Scotsail Training Limited (Registered number: SC259916)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 288,338 6,872 295,210
DEPRECIATION
At 1 December 2022 205,463 6,872 212,335
Charge for year 12,431 - 12,431
At 30 November 2023 217,894 6,872 224,766
NET BOOK VALUE
At 30 November 2023 70,444 - 70,444
At 30 November 2022 82,875 - 82,875

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,751 32,751
Other debtors 6,429 -
14,180 32,751

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,591 7,856
Taxation and social security 3,748 6,553
Other creditors 1,315 1,315
12,654 15,724

Scotsail Training Limited (Registered number: SC259916)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 12,242 18,977
Other creditors 68,956 84,156
81,198 103,133

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100