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REGISTERED NUMBER: 08061463 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Blue Phoenix Yachts Limited

Blue Phoenix Yachts Limited (Registered number: 08061463)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Blue Phoenix Yachts Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mrs D Urbanska





REGISTERED OFFICE: 67 Westow Street
Upper Norwood
London
SE19 3RW





REGISTERED NUMBER: 08061463 (England and Wales)





ACCOUNTANTS: CWF & Partners Ltd
Chartered Accountants
67 Westow Street
Upper Norwood
London
SE19 3RW

Blue Phoenix Yachts Limited (Registered number: 08061463)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes €    €    €    €   
FIXED ASSETS
Tangible assets 5 517,726 558,326

CURRENT ASSETS
Debtors 6 18,356 2,268
Cash at bank 15,090 -
33,446 2,268
CREDITORS
Amounts falling due within one year 7 1,519,469 1,458,739
NET CURRENT LIABILITIES (1,486,023 ) (1,456,471 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(968,297

)

(898,145

)

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 (968,298 ) (898,146 )
SHAREHOLDERS' FUNDS (968,297 ) (898,145 )

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

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

The director acknowledges her 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 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 11 September 2024 and were signed by:





Mrs D Urbanska - Director


Blue Phoenix Yachts Limited (Registered number: 08061463)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Blue Phoenix Yachts Limited 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.

The presentation currency of the financial statements is the Euro (€).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.
Fixtures and fittings - 10% on cost
Motor and Sailing Yacht - 5% on cost

Going concern basis
The company incurred a loss of €70,152 for the year ended 31 December 2023 (2022 - €122,268 loss) and, as of that date the company's net current liabilities were €1,486,023 (2023 - €1,456,471) . The company is dependent upon the continuing support of its shareholder without which there would be significant doubt about the company's ability to continue as a going concern.The shareholder has indicated its intention to continue providing such financial assistance to the company to enable it to continue as a going concern and to meet its obligations as they fall due.

4. EMPLOYEES AND DIRECTORS

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

Blue Phoenix Yachts Limited (Registered number: 08061463)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures Motor and
and Sailing Motor
fittings Yacht vehicles Totals
€    €    €    €   
COST
At 1 January 2023 21,005 940,652 7,149 968,806
Additions 2,594 - - 2,594
At 31 December 2023 23,599 940,652 7,149 971,400
DEPRECIATION
At 1 January 2023 11,954 393,342 5,184 410,480
Charge for year 2,585 39,894 715 43,194
At 31 December 2023 14,539 433,236 5,899 453,674
NET BOOK VALUE
At 31 December 2023 9,060 507,416 1,250 517,726
At 31 December 2022 9,051 547,310 1,965 558,326

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
€    €   
Amounts owed by participating interests 14,000 -
Other debtors 2,268 2,268
Prepayments and accrued income 2,088 -
18,356 2,268

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
€    €   
Trade creditors 9,391 2,633
Other creditors 1,508,225 1,454,197
Accruals and deferred income 1,853 1,909
1,519,469 1,458,739

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: €    €   
1 Ordinary GBP£1 1 1

Blue Phoenix Yachts Limited (Registered number: 08061463)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. RESERVES
Retained
earnings
€   

At 1 January 2023 (898,146 )
Deficit for the year (70,152 )
At 31 December 2023 (968,298 )

10. RELATED PARTY DISCLOSURES

Included in creditors due within one year is an amount of €886,389 (2022 - €872,389) payable to Constantinos G. Lordos for the acquisition of the Blue Phoenix Yacht.
The amount payable is interest free and has no specified repayment date.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by The Lordos Foundation, established in Jersey, which owns 100% of the company's shares.