REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 JANUARY 2024 |
FOR |
TIMOTHY SAUNDERS YACHT DESIGN LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 JANUARY 2024 |
FOR |
TIMOTHY SAUNDERS YACHT DESIGN LTD |
TIMOTHY SAUNDERS YACHT DESIGN LTD (REGISTERED NUMBER: 07713341) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 JANUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
TIMOTHY SAUNDERS YACHT DESIGN LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 29 JANUARY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Windover House |
St. Ann Street |
Salisbury |
SP1 2DR |
TIMOTHY SAUNDERS YACHT DESIGN LTD (REGISTERED NUMBER: 07713341) |
BALANCE SHEET |
29 JANUARY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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. |
TIMOTHY SAUNDERS YACHT DESIGN LTD (REGISTERED NUMBER: 07713341) |
BALANCE SHEET - continued |
29 JANUARY 2024 |
The financial statements were approved by the director and authorised for issue on |
TIMOTHY SAUNDERS YACHT DESIGN LTD (REGISTERED NUMBER: 07713341) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 JANUARY 2024 |
1. | STATUTORY INFORMATION |
Timothy Saunders Yacht Design Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis which is thought to be appropriate because the director intends to provide additional funds to meet the company's liabilities as they fall due and there is the promise of increasing cash inflows in the next 12 months. The financial statements do not contain any adjustments that might be necessary if the additional funds were not available. |
The financial statements are presented in Sterling (£) which is the functional currency of the company. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebate and value added tax. |
Tangible fixed assets |
Computer equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
TIMOTHY SAUNDERS YACHT DESIGN LTD (REGISTERED NUMBER: 07713341) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 JANUARY 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Foreign currencies |
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Debtors |
Debtors are measured at their recoverable amount. |
Creditors and provisions |
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
TIMOTHY SAUNDERS YACHT DESIGN LTD (REGISTERED NUMBER: 07713341) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 JANUARY 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 30 January 2023 |
Additions |
At 29 January 2024 |
DEPRECIATION |
At 30 January 2023 |
Charge for year |
At 29 January 2024 |
NET BOOK VALUE |
At 29 January 2024 |
At 29 January 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | £1 | 100 | 100 |
8. | RELATED PARTY DISCLOSURES |
Included in creditors due within one year is £38,954 (2023 - £41,914) due to the director of the company. |