2 Sail School NI Limited NI684624 false 2023-01-01 2024-06-30 2024-06-30 The principal activity of the company is operation of sport facilities. Digita Accounts Production Advanced 6.30.9574.0 true NI684624 2023-01-01 2024-06-30 NI684624 2024-06-30 NI684624 core:CurrentFinancialInstruments 2024-06-30 NI684624 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 NI684624 bus:SmallEntities 2023-01-01 2024-06-30 NI684624 bus:AuditExemptWithAccountantsReport 2023-01-01 2024-06-30 NI684624 bus:FilletedAccounts 2023-01-01 2024-06-30 NI684624 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2024-06-30 NI684624 bus:RegisteredOffice 2023-01-01 2024-06-30 NI684624 bus:Director1 2023-01-01 2024-06-30 NI684624 bus:PrivateLimitedCompanyLtd 2023-01-01 2024-06-30 NI684624 countries:NorthernIreland 2023-01-01 2024-06-30 NI684624 2021-12-23 2022-12-31 NI684624 2022-12-31 NI684624 core:CurrentFinancialInstruments 2022-12-31 NI684624 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 xbrli:pure iso4217:GBP

Registration number: NI684624

Sail School NI Limited

Unaudited Filleted Financial Statements

for the Period from 1 January 2023 to 30 June 2024

 

Sail School NI Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Sail School NI Limited

(Registration number: NI684624)
Balance Sheet as at 30 June 2024

Note

2024
£

2022
£

Current assets

 

Debtors

4

10

10

Cash at bank and in hand

 

635

-

 

645

10

Creditors: Amounts falling due within one year

5

(19,315)

-

Net (liabilities)/assets

 

(18,670)

10

Capital and reserves

 

Called up share capital

10

10

Retained earnings

(18,680)

-

Shareholders' (deficit)/funds

 

(18,670)

10

For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 March 2025
 

.........................................
Peter McGovern
Director

 

Sail School NI Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
18 Grays Hill
Bangor
County Down
BT20 3BB
United Kingdom

These financial statements were authorised for issue by the director on 24 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Sail School NI Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 2024

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.
Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that
taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have
been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Sail School NI Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2022 - 2).

4

Debtors

Current

2024
£

2022
£

Other debtors

10

10

 

10

10

5

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Due within one year

Taxation and social security

1,271

-

Accruals and deferred income

850

-

Other creditors

17,194

-

19,315

-