Silverfin false false 27/02/2024 28/02/2023 27/02/2024 J M Peters 29/11/2023 F M Sterritt 09/02/2018 20 November 2024 The principal activity of the Company during the financial year was that of professional sailing and coaching. 11196785 2024-02-27 11196785 bus:Director1 2024-02-27 11196785 bus:Director2 2024-02-27 11196785 2023-02-27 11196785 core:CurrentFinancialInstruments 2024-02-27 11196785 core:CurrentFinancialInstruments 2023-02-27 11196785 core:ShareCapital 2024-02-27 11196785 core:ShareCapital 2023-02-27 11196785 core:RetainedEarningsAccumulatedLosses 2024-02-27 11196785 core:RetainedEarningsAccumulatedLosses 2023-02-27 11196785 core:PlantMachinery 2023-02-27 11196785 core:OfficeEquipment 2023-02-27 11196785 core:PlantMachinery 2024-02-27 11196785 core:OfficeEquipment 2024-02-27 11196785 2023-02-28 2024-02-27 11196785 bus:FilletedAccounts 2023-02-28 2024-02-27 11196785 bus:SmallEntities 2023-02-28 2024-02-27 11196785 bus:AuditExemptWithAccountantsReport 2023-02-28 2024-02-27 11196785 bus:PrivateLimitedCompanyLtd 2023-02-28 2024-02-27 11196785 bus:Director1 2023-02-28 2024-02-27 11196785 bus:Director2 2023-02-28 2024-02-27 11196785 core:PlantMachinery 2023-02-28 2024-02-27 11196785 core:OfficeEquipment 2023-02-28 2024-02-27 11196785 2022-02-28 2023-02-27 iso4217:GBP xbrli:pure

Company No: 11196785 (England and Wales)

TPS SAILING LIMITED

Unaudited Financial Statements
For the financial year ended 27 February 2024
Pages for filing with the registrar

TPS SAILING LIMITED

Unaudited Financial Statements

For the financial year ended 27 February 2024

Contents

TPS SAILING LIMITED

BALANCE SHEET

As at 27 February 2024
TPS SAILING LIMITED

BALANCE SHEET (continued)

As at 27 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 27,560 26,533
27,560 26,533
Current assets
Cash at bank and in hand 4,110 10,276
4,110 10,276
Creditors: amounts falling due within one year 4 ( 74,205) ( 76,993)
Net current liabilities (70,095) (66,717)
Total assets less current liabilities (42,535) (40,184)
Net liabilities ( 42,535) ( 40,184)
Capital and reserves
Called-up share capital 2 2
Profit and loss account ( 42,537 ) ( 40,186 )
Total shareholders' deficit ( 42,535) ( 40,184)

For the financial year ending 27 February 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 TPS Sailing Limited (registered number: 11196785) were approved and authorised for issue by the Board of Directors on 20 November 2024. They were signed on its behalf by:

J M Peters
Director
F M Sterritt
Director
TPS SAILING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 27 February 2024
TPS SAILING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 27 February 2024
1. Accounting policies

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

General information and basis of accounting

TPS Sailing 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.

Turnover

Turnover is stated gross 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.

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
Office 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 Profit and Loss Account as described below.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 28 February 2023 35,806 7,143 42,949
Additions 15,791 0 15,791
Disposals ( 14,403) 0 ( 14,403)
At 27 February 2024 37,194 7,143 44,337
Accumulated depreciation
At 28 February 2023 13,495 2,921 16,416
Charge for the financial year 5,194 305 5,499
Disposals ( 5,138) 0 ( 5,138)
At 27 February 2024 13,551 3,226 16,777
Net book value
At 27 February 2024 23,643 3,917 27,560
At 27 February 2023 22,311 4,222 26,533

4. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 74,205 76,993