Registered number
06503178
Sail and Paddle Limited
Filleted Accounts
31 December 2024
Sail and Paddle Limited
Registered number: 06503178
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 26,425 28,895
Investments 4 - 440,000
26,425 468,895
Current assets
Debtors 5 - 2,443
Cash at bank and in hand 111,940 209,612
111,940 212,055
Creditors: amounts falling due within one year 6 (51,663) (49,218)
Net current assets 60,277 162,837
Net assets 86,702 631,732
Capital and reserves
Called up share capital 2 1
Profit and loss account 86,700 631,731
Shareholder's funds 86,702 631,732
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T O S Lawrence
Director
Approved by the board on 28 February 2025
Sail and Paddle Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment 25% straight line
Motor vehicles 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 January 2024 353,577 10,300 363,877
Additions 19,345 - 19,345
At 31 December 2024 372,922 10,300 383,222
Depreciation
At 1 January 2024 324,682 10,300 334,982
Charge for the year 21,815 - 21,815
At 31 December 2024 346,497 10,300 356,797
Net book value
At 31 December 2024 26,425 - 26,425
At 31 December 2023 28,895 - 28,895
4 Investments
Other
investments
£
Cost
At 1 January 2024 440,000
Additions 210,000
Disposals (650,000)
At 31 December 2024 -
5 Debtors 2024 2023
£ £
Other debtors - 2,443
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 48,109 45,664
Other creditors 3,554 3,554
51,663 49,218
7 Controlling party
The company is contolled by the director.
8 Other information
Sail and Paddle Limited is a private company limited by shares and incorporated in England. Its registered office is:
Croft Farm
Bredons Hardwick
Tewkesbury
Glos
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