Silverfin false false 30/06/2024 01/08/2023 30/06/2024 B Miller 11/01/2007 M J Miller 15/02/1996 10 October 2024 The principal activity of the Company during the financial year was that of brokers for new and used motor yachts, and the provision of associated services. 03159581 2024-06-30 03159581 bus:Director1 2024-06-30 03159581 bus:Director2 2024-06-30 03159581 2023-07-31 03159581 core:CurrentFinancialInstruments 2024-06-30 03159581 core:CurrentFinancialInstruments 2023-07-31 03159581 core:ShareCapital 2024-06-30 03159581 core:ShareCapital 2023-07-31 03159581 core:RetainedEarningsAccumulatedLosses 2024-06-30 03159581 core:RetainedEarningsAccumulatedLosses 2023-07-31 03159581 core:OtherResidualIntangibleAssets 2023-07-31 03159581 core:OtherResidualIntangibleAssets 2024-06-30 03159581 core:PlantMachinery 2023-07-31 03159581 core:FurnitureFittings 2023-07-31 03159581 core:ComputerEquipment 2023-07-31 03159581 core:PlantMachinery 2024-06-30 03159581 core:FurnitureFittings 2024-06-30 03159581 core:ComputerEquipment 2024-06-30 03159581 2023-08-01 2024-06-30 03159581 bus:FilletedAccounts 2023-08-01 2024-06-30 03159581 bus:SmallEntities 2023-08-01 2024-06-30 03159581 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-06-30 03159581 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-06-30 03159581 bus:Director1 2023-08-01 2024-06-30 03159581 bus:Director2 2023-08-01 2024-06-30 03159581 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-08-01 2024-06-30 03159581 core:PlantMachinery 2023-08-01 2024-06-30 03159581 core:FurnitureFittings 2023-08-01 2024-06-30 03159581 core:ComputerEquipment 2023-08-01 2024-06-30 03159581 2022-04-01 2023-07-31 iso4217:GBP xbrli:pure

Company No: 03159581 (England and Wales)

IMPERIAL MOTORYACHTS LIMITED

Unaudited Financial Statements
For the financial period from 01 August 2023 to 30 June 2024
Pages for filing with the registrar

IMPERIAL MOTORYACHTS LIMITED

Unaudited Financial Statements

For the financial period from 01 August 2023 to 30 June 2024

Contents

IMPERIAL MOTORYACHTS LIMITED

BALANCE SHEET

As at 30 June 2024
IMPERIAL MOTORYACHTS LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 30.06.2024 31.07.2023
£ £
Fixed assets
Tangible assets 4 5,368 5,220
5,368 5,220
Current assets
Debtors 5 27 69,904
Cash at bank and in hand 14,489 328
14,516 70,232
Creditors: amounts falling due within one year 6 ( 9,162) ( 85,337)
Net current assets/(liabilities) 5,354 (15,105)
Total assets less current liabilities 10,722 (9,885)
Net assets/(liabilities) 10,722 ( 9,885)
Capital and reserves
Called-up share capital 600 600
Profit and loss account 10,122 ( 10,485 )
Total shareholders' funds/(deficit) 10,722 ( 9,885)

For the financial period ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Imperial Motoryachts Limited (registered number: 03159581) were approved and authorised for issue by the Board of Directors on 10 October 2024. They were signed on its behalf by:

M J Miller
Director
IMPERIAL MOTORYACHTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 August 2023 to 30 June 2024
IMPERIAL MOTORYACHTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 August 2023 to 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Imperial Motoryachts 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 4 years straight line
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 [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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

Period from
01.08.2023 to
30.06.2024
Period from
01.04.2022 to
31.07.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 2

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 August 2023 9,917 9,917
At 30 June 2024 9,917 9,917
Accumulated amortisation
At 01 August 2023 9,917 9,917
At 30 June 2024 9,917 9,917
Net book value
At 30 June 2024 0 0
At 31 July 2023 0 0

4. Tangible assets

Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 August 2023 23,724 6,514 13,704 43,942
Additions 413 0 874 1,287
At 30 June 2024 24,137 6,514 14,578 45,229
Accumulated depreciation
At 01 August 2023 23,100 4,664 10,958 38,722
Charge for the financial period 177 424 538 1,139
At 30 June 2024 23,277 5,088 11,496 39,861
Net book value
At 30 June 2024 860 1,426 3,082 5,368
At 31 July 2023 624 1,850 2,746 5,220

5. Debtors

30.06.2024 31.07.2023
£ £
Other debtors 27 69,904

6. Creditors: amounts falling due within one year

30.06.2024 31.07.2023
£ £
Taxation and social security 3,739 51,877
Other creditors 5,423 33,460
9,162 85,337