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REGISTERED NUMBER: 03704341 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Topsail Charters Limited

Topsail Charters Limited (Registered number: 03704341)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Topsail Charters Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: S J Valentine
P A Jeffries
Miss L Jeffries





SECRETARY: S J Valentine





REGISTERED OFFICE: 2 High Street
Burnham on Crouch
Essex
CM0 8AA





REGISTERED NUMBER: 03704341 (England and Wales)





ACCOUNTANTS: Harvey Smith & Co DVQ Limited
A Xeinadin Company
2 High Street
Burnham on Crouch
Essex
CM0 8AA

Topsail Charters Limited (Registered number: 03704341)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,670 2,888

CURRENT ASSETS
Debtors 5 83,310 73,107
Cash at bank and in hand 84,863 126,913
168,173 200,020
CREDITORS
Amounts falling due within one year 6 20,702 23,369
NET CURRENT ASSETS 147,471 176,651
TOTAL ASSETS LESS CURRENT
LIABILITIES

149,141

179,539

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 149,139 179,537
SHAREHOLDERS' FUNDS 149,141 179,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 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 Board of Directors and authorised for issue on 20 May 2024 and were signed on its behalf by:





S J Valentine - Director


Topsail Charters Limited (Registered number: 03704341)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Topsail Charters 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.

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.
Short leasehold - amortised over life of lease
Plant & machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

Topsail Charters Limited (Registered number: 03704341)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant & and
leasehold machinery fittings
£    £    £   
COST
At 1 February 2023
and 31 January 2024 17,000 4,164 7,626
DEPRECIATION
At 1 February 2023 17,000 2,953 6,781
Charge for year - 223 507
At 31 January 2024 17,000 3,176 7,288
NET BOOK VALUE
At 31 January 2024 - 988 338
At 31 January 2023 - 1,211 845

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 7,030 8,754 44,574
DEPRECIATION
At 1 February 2023 7,030 7,922 41,686
Charge for year - 488 1,218
At 31 January 2024 7,030 8,410 42,904
NET BOOK VALUE
At 31 January 2024 - 344 1,670
At 31 January 2023 - 832 2,888

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 53,766 47,651
Other debtors 29,544 25,456
83,310 73,107

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 14,211 2,602
Taxation and social security 751 13,702
Other creditors 5,740 7,065
20,702 23,369

Topsail Charters Limited (Registered number: 03704341)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of Mrs S Valentine and Mr P Jeffries by virtue of their shareholdings and directorships.