REGISTERED NUMBER: |
Director's Report and |
Unaudited Financial Statements for the Year Ended 31st December 2023 |
for |
Conquistador Sailing Ltd |
REGISTERED NUMBER: |
Director's Report and |
Unaudited Financial Statements for the Year Ended 31st December 2023 |
for |
Conquistador Sailing Ltd |
Conquistador Sailing Ltd (Registered number: 11353700) |
Contents of the Financial Statements |
for the year ended 31st December 2023 |
Page |
Company Information | 1 |
Director's Report | 2 |
Statement of Income and Retained Earnings | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
Conquistador Sailing Ltd |
Company Information |
for the year ended 31st December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Conquistador Sailing Ltd (Registered number: 11353700) |
Director's Report |
for the year ended 31st December 2023 |
The director presents his report with the financial statements of the company for the year ended 31st December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of yacht chartering |
DIRECTOR |
GOING CONCERN |
The financial statements have been prepared on the going concern basis even though the company has net liabilities, as financial support has been provided by the shareholder and he has confirmed that this support will be available for twelve months from the date of approval of the financial statements. |
Accordingly, the director continues to adopt the going concern basis in preparing the financial statements. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Conquistador Sailing Ltd (Registered number: 11353700) |
Statement of Income and |
Retained Earnings |
for the year ended 31st December 2023 |
2023 | 2022 |
£ | £ |
TURNOVER |
Cost of sales | ( |
) | ( |
) |
GROSS LOSS | ( |
) | ( |
) |
Administrative expenses | ( |
) | ( |
) |
OPERATING LOSS | ( |
) | ( |
) |
Interest payable and similar expenses | ( |
) | ( |
) |
LOSS BEFORE TAXATION | ( |
) | ( |
) |
Tax on loss |
LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
Retained earnings at beginning of year | ( |
) | ( |
) |
RETAINED EARNINGS AT END OF YEAR |
( |
) |
( |
) |
Conquistador Sailing Ltd (Registered number: 11353700) |
Balance Sheet |
31st December 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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 were approved and authorised for issue by the director and authorised for issue on |
Conquistador Sailing Ltd (Registered number: 11353700) |
Notes to the Financial Statements |
for the year ended 31st December 2023 |
1. | STATUTORY INFORMATION |
Conquistador Sailing Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on the going concern basis even though the company has net liabilities, as financial support has been provided by the shareholder and he has confirmed that this support will be available for twelve months from the date of approval of the financial statements. |
Accordingly, the director continues to adopt the going concern basis in preparing the financial statements. |
Critical accounting judgements and key sources of estimation uncertainty |
The directors believe there are no critical judgements in applying the company's accounting policies and no key sources of estimation uncertainty which impact on the financial statements of the company. |
Tangible fixed assets |
Yacht | - |
Fixtures and fittings | - |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Financial assets including trade debtors, are initially recognised at transaction cost which is considered to be fair value. At each statement of financial position date, the company assesses whether there is objective evidence that a financial asset has become impaired. Impairment losses are recorded as charges in the income statement and the carrying amount of the financial asset is reduced by establishing an impairment loss provision. Impairment loss provisions are maintained at the level that management deems sufficient to absorb incurred losses. Financial assets are subsequently carried at transaction cost less provision for impairment. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the Statement of Financial Position. Finance costs and gains or losses relating to financial liabilities are included in the Income Statement. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Dividends and distributions relating to equity instruments are debited directly to equity. |
Conquistador Sailing Ltd (Registered number: 11353700) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Foreign currencies |
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
Yacht | fittings | Totals |
£ | £ | £ |
COST |
At 1st January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st December 2023 |
DEPRECIATION |
At 1st January 2023 |
Charge for year |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
Conquistador Sailing Ltd (Registered number: 11353700) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
Within trade debtors is £ |
Within other creditors are interest free loans £ controlled by the director. |
In the previous year £ |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |