Acorah Software Products - Accounts Production 16.2.800 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 12980066 Mr Golan Levi Mrs Dafna Levi Mr Golan Levi and Mrs Dafna Levi, who are married, true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12980066 2023-08-31 12980066 2024-08-31 12980066 2023-09-01 2024-08-31 12980066 frs-core:CurrentFinancialInstruments 2024-08-31 12980066 frs-core:ShareCapital 2024-08-31 12980066 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 12980066 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12980066 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 12980066 frs-bus:SmallEntities 2023-09-01 2024-08-31 12980066 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 12980066 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12980066 1 2023-09-01 2024-08-31 12980066 frs-bus:Director1 2023-09-01 2024-08-31 12980066 frs-bus:Director2 2023-09-01 2024-08-31 12980066 frs-countries:EnglandWales 2023-09-01 2024-08-31 12980066 2022-08-31 12980066 2023-08-31 12980066 2022-09-01 2023-08-31 12980066 frs-core:CurrentFinancialInstruments 2023-08-31 12980066 frs-core:ShareCapital 2023-08-31 12980066 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 12980066
Citadel Yacht Management Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Inchmead Accountants
100 Berkshire Place
Winnersh
Wokingham
RG41 5RD
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 12980066
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Cash at bank and in hand 105,435 106,506
105,435 106,506
Creditors: Amounts Falling Due Within One Year 4 (8,280 ) (28,692 )
NET CURRENT ASSETS (LIABILITIES) 97,155 77,814
TOTAL ASSETS LESS CURRENT LIABILITIES 97,155 77,814
NET ASSETS 97,155 77,814
CAPITAL AND RESERVES
Called up share capital 5 2,000 2,000
Profit and Loss Account 95,155 75,814
SHAREHOLDERS' FUNDS 97,155 77,814
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Dafna Levi
Director
8 April 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Citadel Yacht Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12980066 . The registered office is Inchmead Suite, 100 Berkshire Place, Winnersh, Wokingham, RG41 5RD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable by the company for its management services. Turnover includes revenue earned from the management services provided, charges for other administrative services and expense reimbursements.
Rendering of services
Turnover from the rendering of services is recognised by reference to the contract entered into with the client, which normally contain a management fee charged monthly and charter income when the yacht or vessel is chartered to a end client. 
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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 assets reflect 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.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 2
Page 3
4. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (1 )
Corporation tax 4,537 14,166
Accruals and deferred income 3,743 14,527
8,280 28,692
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2,000 2,000
6. Ultimate Controlling Party
The company's ultimate controlling party is Mr Golan Levi and Mrs Dafna Levi, who are married, by virtue of their ownership of 100% of the issued share capital in the company.
Page 3