Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07055529 Mushegh Tovmasyan James Pleasance true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07055529 2022-12-31 07055529 2023-12-31 07055529 2023-01-01 2023-12-31 07055529 frs-core:CurrentFinancialInstruments 2023-12-31 07055529 frs-core:Non-currentFinancialInstruments 2023-12-31 07055529 frs-core:ShareCapital 2023-12-31 07055529 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07055529 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07055529 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07055529 frs-bus:SmallEntities 2023-01-01 2023-12-31 07055529 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07055529 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07055529 1 2023-01-01 2023-12-31 07055529 frs-bus:Director1 2023-01-01 2023-12-31 07055529 frs-bus:Director2 2023-01-01 2023-12-31 07055529 frs-countries:EnglandWales 2023-01-01 2023-12-31 07055529 2021-12-31 07055529 2022-12-31 07055529 2022-01-01 2022-12-31 07055529 frs-core:CurrentFinancialInstruments 2022-12-31 07055529 frs-core:Non-currentFinancialInstruments 2022-12-31 07055529 frs-core:ShareCapital 2022-12-31 07055529 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 07055529
Sailing Horizons Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Blue Dot Consulting Limited
Chartered Accountants
Bedford House
Fulham Green
London
SW6 3JW
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 07055529
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 160,100 126,822
Cash at bank and in hand 14,105 22,865
174,205 149,687
Creditors: Amounts Falling Due Within One Year 5 (157,029 ) (153,422 )
NET CURRENT ASSETS (LIABILITIES) 17,176 (3,735 )
TOTAL ASSETS LESS CURRENT LIABILITIES 17,176 (3,735 )
Creditors: Amounts Falling Due After More Than One Year 6 (509,625 ) (389,161 )
NET LIABILITIES (492,449 ) (392,896 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (492,450 ) (392,897 )
SHAREHOLDERS' FUNDS (492,449) (392,896)
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
James Pleasance
Director
21st October 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Sailing Horizons Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07055529 . The registered office is Riverbank House, 1 Putney Bridge Approach, London, SW6 3JD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have considered the company's business activities as set out in the Report of the Directors.
The company has net liabilities of £492,449 (2022: £392,89). and made a loss in the year of £99,553 (2022: £42,163).
The company is dependent for its working capital on funds provided to it by EFB Group Limited, the company's parent company. EFB Group Limited has indicated that for at least 12 months from the date of approval of these financial statements, it will continue to make available such funds as are needed by the company. As with any company placing reliance on other group entities financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements they have no reason to believe that it will not do so.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Debtors
2023 2022
£ £
Due within one year
Trade debtors 145,625 124,479
Other debtors 6,468 1,447
VAT 8,007 896
160,100 126,822
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Page 3
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 8,764 21
Other taxes and social security 431 989
Other creditors 538 635
Accruals and deferred income 147,296 151,777
157,029 153,422
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Amounts owed to parent undertaking 509,625 389,161
509,625 389,161
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
8. Related Party Transactions
The Company has a loan from EFB Group Limited, disclosed in note 5. The loan is interest bearing and unsecured. Interest payable of £15,458 (2022: £11,621) is included in Interest Payable and Similar Charges in the profit and loss account.
9. Ultimate Controlling Party
The company is a wholly owned subsidiary of EFB Group Limited, a company incorporated in Cyprus. The accounts of EFB Group Limited are available at the following address;

Kaminion 1, Agios Athanasios, 4101, Limassol, Cyprus.

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