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REGISTERED NUMBER: 08044947














SPORTSBOAT WORLD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






SPORTSBOAT WORLD LIMITED (REGISTERED NUMBER: 08044947)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SPORTSBOAT WORLD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: A M Castro





REGISTERED OFFICE: Rio House
76 Satchell Lane
Hamble
Southampton
Hampshire
SO31 4HL





REGISTERED NUMBER: 08044947





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

SPORTSBOAT WORLD LIMITED (REGISTERED NUMBER: 08044947)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 38,930 35,067

CURRENT ASSETS
Inventories 5 45,500 81,514
Debtors 6 2,966 26,220
Cash at bank and in hand 116,746 12,614
165,212 120,348
CREDITORS
Amounts falling due within one year 7 415,754 315,801
NET CURRENT LIABILITIES (250,542 ) (195,453 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(211,612

)

(160,386

)

PROVISIONS FOR LIABILITIES 9 6,800 5,959
NET LIABILITIES (218,412 ) (166,345 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11 (218,413 ) (166,346 )
SHAREHOLDERS' FUNDS (218,412 ) (166,345 )

SPORTSBOAT WORLD LIMITED (REGISTERED NUMBER: 08044947)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2024 and were signed by:





A M Castro - Director


SPORTSBOAT WORLD LIMITED (REGISTERED NUMBER: 08044947)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

SportsBoat World Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Motor vehicles - 25% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

SPORTSBOAT WORLD LIMITED (REGISTERED NUMBER: 08044947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 35,000 33,990 68,990
Additions 15,673 - 15,673
At 30 June 2024 50,673 33,990 84,663
DEPRECIATION
At 1 July 2023 17,500 16,423 33,923
Charge for year 7,418 4,392 11,810
At 30 June 2024 24,918 20,815 45,733
NET BOOK VALUE
At 30 June 2024 25,755 13,175 38,930
At 30 June 2023 17,500 17,567 35,067

5. INVENTORIES
2024 2023
£    £   
Stocks 45,500 81,514

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT - 26,220
Prepayments 2,966 -
2,966 26,220

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 25,721 35,119
Trade creditors 14,449 32,817
Amounts owed to group undertakings 334,655 218,526
Social security and other taxes - 168
VAT 13,679 -
Other creditors - 1,921
Directors' current accounts 25,000 25,000
Accruals and deferred income 2,250 2,250
415,754 315,801

SPORTSBOAT WORLD LIMITED (REGISTERED NUMBER: 08044947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 25,721 35,119

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,800 5,959

Deferred
tax
£   
Balance at 1 July 2023 5,959
Accelerated capital allowances 841
Balance at 30 June 2024 6,800

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

11. RESERVES
Retained
earnings
£   

At 1 July 2023 (166,346 )
Deficit for the year (52,067 )
At 30 June 2024 (218,413 )

12. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £334,654.66 (£218,526.10- 2023) to a group undertaking. During the year the company paid Management Fees of £0. (£0 - 2023)

13. ULTIMATE CONTROLLING PARTY

The company is owned by Tony Castro Design Limited which is under the control of A M Castro.