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REGISTERED NUMBER: 14873618 (England and Wales)















THE DRUNKEN SAILORS LTD

FINANCIAL STATEMENTS

FOR THE PERIOD 16TH MAY 2023 TO 31ST DECEMBER 2023






THE DRUNKEN SAILORS LTD (REGISTERED NUMBER: 14873618)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 16TH MAY 2023 TO 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE DRUNKEN SAILORS LTD

COMPANY INFORMATION
FOR THE PERIOD 16TH MAY 2023 TO 31ST DECEMBER 2023







DIRECTORS: T Evans
D A Hewings





REGISTERED OFFICE: Unit 2, (Next To Rafa Club)
Greenhill Road
Cwmbran
Torfaen
NP44 3DQ





REGISTERED NUMBER: 14873618 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

THE DRUNKEN SAILORS LTD (REGISTERED NUMBER: 14873618)

BALANCE SHEET
31ST DECEMBER 2023

Notes £    £   
FIXED ASSETS
Tangible assets 4 18,732

CURRENT ASSETS
Stocks 1,000
Debtors 5 491
Cash at bank 4,199
5,690
CREDITORS
Amounts falling due within one year 6 26,416
NET CURRENT LIABILITIES (20,726 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,994

)

CAPITAL AND RESERVES
Called up share capital 7 100
Retained earnings (2,094 )
SHAREHOLDERS' FUNDS (1,994 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

THE DRUNKEN SAILORS LTD (REGISTERED NUMBER: 14873618)

BALANCE SHEET - continued
31ST DECEMBER 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th July 2024 and were signed on its behalf by:





D A Hewings - Director


THE DRUNKEN SAILORS LTD (REGISTERED NUMBER: 14873618)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 16TH MAY 2023 TO 31ST DECEMBER 2023

1. STATUTORY INFORMATION

The Drunken Sailors Ltd is a private company, limited by shares , registered in England and Wales. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Not provided
Plant and machinery - 10% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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 period 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.

THE DRUNKEN SAILORS LTD (REGISTERED NUMBER: 14873618)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 16TH MAY 2023 TO 31ST DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
Additions 3,061 11,874 6,000 20,935
At 31st December 2023 3,061 11,874 6,000 20,935
DEPRECIATION
Charge for period - 1,328 875 2,203
At 31st December 2023 - 1,328 875 2,203
NET BOOK VALUE
At 31st December 2023 3,061 10,546 5,125 18,732

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Deferred tax asset 491

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 413
Social security and other taxes 196
Directors' current accounts 22,015
Accruals and deferred income 3,792
26,416

7. CALLED UP SHARE CAPITAL

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

8. RELATED PARTY DISCLOSURES

The company had the following outstanding directors loans at the year end:
- T Evans was owed £9,400
- D A Hewings was owed £12,615

THE DRUNKEN SAILORS LTD (REGISTERED NUMBER: 14873618)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 16TH MAY 2023 TO 31ST DECEMBER 2023

9. GOING CONCERN

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis preparing its financial statements.