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REGISTERED NUMBER: 08653430 (England and Wales)










The Boatshed Sailmakers Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024






The Boatshed Sailmakers Limited (Registered number: 08653430)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Boatshed Sailmakers Limited

Company Information
for the year ended 31 August 2024







DIRECTOR: Mr S Horrocks





REGISTERED OFFICE: Sail Loft East
Outer Harbour
Pwllheli
Gwynedd
LL53 5AY





REGISTERED NUMBER: 08653430 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

The Boatshed Sailmakers Limited (Registered number: 08653430)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,191 69,929

CURRENT ASSETS
Stocks 5 37,500 52,500
Debtors 6 17,748 16,182
Cash at bank and in hand 807 2,135
56,055 70,817
CREDITORS
Amounts falling due within one year 7 31,962 40,673
NET CURRENT ASSETS 24,093 30,144
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,284

100,073

CREDITORS
Amounts falling due after more than one year 8 (17,500 ) (27,500 )

PROVISIONS FOR LIABILITIES (9,451 ) (11,551 )
NET ASSETS 55,333 61,022

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 55,233 60,922
SHAREHOLDERS' FUNDS 55,333 61,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 25 November 2024 and were signed by:



Mr S Horrocks - Director


The Boatshed Sailmakers Limited (Registered number: 08653430)

Notes to the Financial Statements
for the year ended 31 August 2024

1. STATUTORY INFORMATION

The Boatshed Sailmakers Limited is a private company, limited by shares , registered in England and Wales. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 20% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

The Boatshed Sailmakers Limited (Registered number: 08653430)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 130,963
Additions 2,500
At 31 August 2024 133,463
DEPRECIATION
At 1 September 2023 61,034
Charge for year 14,238
At 31 August 2024 75,272
NET BOOK VALUE
At 31 August 2024 58,191
At 31 August 2023 69,929

5. STOCKS
2024 2023
£    £   
Stocks 37,500 52,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,965 16,182
Other debtors 2,783 -
17,748 16,182

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,799 26,980
Tax 4,968 -
Social security and other taxes 1,466 1,702
VAT 14,729 11,878
Directors' current accounts - 113
31,962 40,673

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 17,500 27,500

The Boatshed Sailmakers Limited (Registered number: 08653430)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 17,500 27,500

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 September 2023 60,922
Profit for the year 12,311
Dividends (18,000 )
At 31 August 2024 55,233

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S Horrocks.