Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-31false2023-09-01No description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12797926 2023-09-01 2024-08-31 12797926 2022-09-01 2023-08-31 12797926 2024-08-31 12797926 2023-08-31 12797926 c:Director1 2023-09-01 2024-08-31 12797926 d:OfficeEquipment 2023-09-01 2024-08-31 12797926 d:OfficeEquipment 2024-08-31 12797926 d:OfficeEquipment 2023-08-31 12797926 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12797926 d:CurrentFinancialInstruments 2024-08-31 12797926 d:CurrentFinancialInstruments 2023-08-31 12797926 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 12797926 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12797926 d:ShareCapital 2024-08-31 12797926 d:ShareCapital 2023-08-31 12797926 d:RetainedEarningsAccumulatedLosses 2024-08-31 12797926 d:RetainedEarningsAccumulatedLosses 2023-08-31 12797926 c:OrdinaryShareClass1 2023-09-01 2024-08-31 12797926 c:OrdinaryShareClass1 2024-08-31 12797926 c:OrdinaryShareClass1 2023-08-31 12797926 c:FRS102 2023-09-01 2024-08-31 12797926 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 12797926 c:FullAccounts 2023-09-01 2024-08-31 12797926 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12797926 e:PoundSterling 2023-09-01 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12797926






SVSAILING LIMITED

UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 AUGUST 2024

 
SVSAILING LIMITED
REGISTERED NUMBER:12797926

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
24,955
11,099

  
24,955
11,099

Current assets
  

Cash at bank and in hand
 5 
5,424
1

  
5,424
1

Creditors: amounts falling due within one year
 6 
(45,374)
(33,906)

Net current liabilities
  
 
 
(39,950)
 
 
(33,905)

Total assets less current liabilities
  
(14,995)
(22,806)

  

Net liabilities
  
(14,995)
(22,806)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
(14,996)
(22,807)

  
(14,995)
(22,806)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.



 

Page 1

 
SVSAILING LIMITED
REGISTERED NUMBER:12797926
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 April 2025.




Santiago De Lancastre Villax Guedes De Sampaio
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SVSAILING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

SVSailing Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Calder & Co, 30 Orange Street, London, WC2H 7HF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director has agreed to support the company as necessary for the forseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
SVSAILING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Equipment
-
33%
straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
SVSAILING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Page 5

 
SVSAILING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

2024
2023
£
£

Wages and salaries
9,100
-

9,100
-


The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
SVSAILING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Equipment

£



Cost or valuation


At 1 September 2023
23,785


Additions
21,572



At 31 August 2024

45,357



Depreciation


At 1 September 2023
12,686


Charge for the year on owned assets
7,716



At 31 August 2024

20,402



Net book value



At 31 August 2024
24,955



At 31 August 2023
11,099


5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
5,424
1

Less: bank overdrafts
-
(24)

5,424
(23)


Page 7

 
SVSAILING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
24

Trade creditors
2,940
-

Other creditors
40,644
32,092

Accruals and deferred income
1,790
1,790

45,374
33,906



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



8.


Related party transactions

As at 31 August 2024 a balance of £40,644 (2023 £32,092) was owed by the company to its director. This amount is interest free and has no fixed repayment terms.

 
Page 8