Company Registration No. 07228700 (England and Wales)
Yacht Intelligence Limited
Unaudited accounts
for the year ended 30 March 2024
Yacht Intelligence Limited
Unaudited accounts
Contents
Yacht Intelligence Limited
Company Information
for the year ended 30 March 2024
Director
Mr Alan A Bernardi
Company Number
07228700 (England and Wales)
Registered Office
Unit C, Belmore Hill Court
Owslebury
Winchester
Hampshire
SO21 1JW
Accountants
Karen A Sennitt FCA CTA
The Newport
Newport Lane, Braishfield
Romsey
Hampshire
SO51 0PL
Yacht Intelligence Limited
Statement of financial position
as at 30 March 2024
Tangible assets
8,438
8,153
Inventories
140,410
67,582
Cash at bank and in hand
906,855
911,631
Creditors: amounts falling due within one year
(205,155)
(158,960)
Net current assets
933,275
906,762
Net assets
941,713
914,915
Called up share capital
90
90
Profit and loss account
941,623
914,825
Shareholders' funds
941,713
914,915
For the year ending 30 March 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 December 2024 and were signed on its behalf by
Mr Alan A Bernardi
Director
Company Registration No. 07228700
Yacht Intelligence Limited
Notes to the Accounts
for the year ended 30 March 2024
Yacht Intelligence Limited is a private company, limited by shares, registered in England and Wales, registration number 07228700. The registered office is Unit C, Belmore Hill Court, Owslebury, Winchester, Hampshire, SO21 1JW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line
Fixtures & fittings
33% straight line
Computer equipment
33% straight line
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Stock and work in progress
Stock and work in progress have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Yacht Intelligence Limited
Notes to the Accounts
for the year ended 30 March 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 31 March 2023
19,898
10,722
23,021
53,641
Additions
-
3,453
5,487
8,940
Disposals
-
-
(10,764)
(10,764)
At 30 March 2024
19,898
14,175
17,744
51,817
At 31 March 2023
16,396
9,928
19,164
45,488
Charge for the year
1,725
1,909
3,654
7,288
On disposals
-
-
(9,397)
(9,397)
At 30 March 2024
18,121
11,837
13,421
43,379
At 30 March 2024
1,777
2,338
4,323
8,438
At 30 March 2023
3,502
794
3,857
8,153
Amounts falling due within one year
Amounts due from group undertakings etc.
18,985
15,165
Accrued income and prepayments
12,217
-
Other debtors
29,124
47,043
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
17,760
16,241
Trade creditors
61,150
26,080
Taxes and social security
112,272
109,462
Loans from directors
811
-
7
Transactions with related parties
As at 30 March 2023 Yacht Intelligence Ltd was owed £18,985 (2023: £15,165) by Airship Ltd included within other debtors due within one year.
Yacht Intelligence Ltd and Airship Ltd are both controlled by Mr Alan A Bernardi the 100% shareholder.
8
Average number of employees
During the year the average number of employees was 3 (2023: 4).