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Logo On Report
Registered Number: 12651848
England and Wales

 

 

 

FOURSAILS PARTNERSHIP LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Accountants report
You consider that the company is exempt from an audit for the year ended 30 June 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. 



SJS Accountancy Solutions Ltd

Ridgemount
Hill Farm Lane, Codmore Hill
Pulborough
RH20 1BJ
24 March 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 5 71,020    122,161 
71,020    122,161 
Current assets      
Debtors 222,679    411,054 
Cash at bank and in hand 1,082,178    688,854 
1,304,857    1,099,908 
Creditors: amount falling due within one year (981,026)   (848,403)
Net current assets 323,831    251,505 
 
Total assets less current liabilities 394,851    373,666 
Creditors: amount falling due after more than one year (80,193)   (94,290)
Net assets 314,658    279,376 
 

Capital and reserves
     
Called up share capital 6    6 
Profit and loss account 314,652    279,370 
Shareholders' funds 314,658    279,376 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 24 March 2025 and were signed on its behalf by:


-------------------------------
Simon Trevor EASTBURN
Director
2
General Information
Foursails Partnership Limited is a private company, limited by shares, registered in England and Wales, registration number 12651848, registration address 103 Cavendish Meads, Ascot, SL5 9TG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Straight Line
Fixtures and Fittings 25% Straight Line
Computer Equipment 33% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Directors' Emoluments

2024
£
  2023
£
Administrative Expenses
Directors Salaries 37,656    37,728 
37,656    37,728 

3.

Staff Costs

2024
£
  2023
£
Wages and salaries 169,829    45,921 
Social security costs 5,550   
Pension costs, defined contribution plan 1,361   
Other staff costs 2,001    2,292 
178,741    48,213 

4.

Average number of employees

Average number of employees during the year was 4 (2023 : 3).
5.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 July 2023 154,770    47,992    11,169    213,931 
Additions     2,132    2,132 
Disposals      
At 30 June 2024 154,770    47,992    13,301    216,063 
Depreciation
At 01 July 2023 64,238    18,239    9,293    91,770 
Charge for year 38,693    11,998    2,582    53,273 
On disposals      
At 30 June 2024 102,931    30,237    11,875    145,043 
Net book values
Closing balance as at 30 June 2024 51,839    17,755    1,426    71,020 
Opening balance as at 01 July 2023 90,532    29,753    1,876    122,161 


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