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REGISTERED NUMBER: 02026579 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Network Yacht Brokers (Kent) Limited

Network Yacht Brokers (Kent) Limited (Registered number: 02026579)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Network Yacht Brokers (Kent) Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: P Norris





REGISTERED OFFICE: Suite 100 7 Kenden Business Park
Maritime Close
Rochester
Kent
ME2 4JF





REGISTERED NUMBER: 02026579 (England and Wales)





ACCOUNTANTS: Professional Trust Group Limited
Chartered Accountants
7 Kendon Business Park
Maritime Close
Rochester
Kent
ME2 4JF

Network Yacht Brokers (Kent) Limited (Registered number: 02026579)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 36,623 48,100
Investments 6 1 1
36,624 48,101

CURRENT ASSETS
Debtors 7 26,093 32,017
Cash at bank 9,187 23,103
35,280 55,120
CREDITORS
Amounts falling due within one year 8 30,377 33,126
NET CURRENT ASSETS 4,903 21,994
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,527

70,095

CREDITORS
Amounts falling due after more than one
year

9

(18,696

)

(32,762

)

PROVISIONS FOR LIABILITIES (6,898 ) (9,059 )
NET ASSETS 15,933 28,274

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 15,833 28,174
15,933 28,274

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Network Yacht Brokers (Kent) Limited (Registered number: 02026579)

Balance Sheet - continued
31 December 2024


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 17 February 2025 and were signed by:





P Norris - Director


Network Yacht Brokers (Kent) Limited (Registered number: 02026579)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Network Yacht Brokers (Kent) 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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 - 33% on cost and in accordance with the property

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.

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.

Network Yacht Brokers (Kent) Limited (Registered number: 02026579)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 2,500
AMORTISATION
At 1 January 2024
and 31 December 2024 2,500
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 83,905
Additions 910
At 31 December 2024 84,815
DEPRECIATION
At 1 January 2024 35,805
Charge for year 12,387
At 31 December 2024 48,192
NET BOOK VALUE
At 31 December 2024 36,623
At 31 December 2023 48,100

Network Yacht Brokers (Kent) Limited (Registered number: 02026579)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 1
NET BOOK VALUE
At 31 December 2024 1
At 31 December 2023 1

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the profit or loss.

7. DEBTORS
31.12.24 31.12.23
£    £   
Amounts falling due within one year:
Trade debtors 256 4,134
Amounts owed by group undertakings 20,001 20,001
Other debtors 3,136 5,182
23,393 29,317

Amounts falling due after more than one year:
Other debtors 2,700 2,700

Aggregate amounts 26,093 32,017

An amount of £2,700 (2022: £2,700) contained within other debtors is in respect of a rent deposit deed.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 10,648 10,648
Hire purchase contracts (see note 10) 4,067 4,067
Trade creditors 6,350 7,642
Taxation and social security 2,995 6,704
Other creditors 6,317 4,065
30,377 33,126

Network Yacht Brokers (Kent) Limited (Registered number: 02026579)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 5,185 15,184
Hire purchase contracts (see note 10) 13,511 17,578
18,696 32,762

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.24 31.12.23
£    £   
Net obligations repayable:
Within one year 4,067 4,067
Between one and five years 13,511 17,578
17,578 21,645

11. OTHER FINANCIAL COMMITMENTS

At the balance sheet date, financial commitments relating to property leases and agreements total £41,536.29 (2023: £60,274.41). These financial commitments are in addition to those detailed in the Leasing Agreements note.