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Company Registration No. 13916758 (England and Wales)
Gentoo Sailing Team Limited Unaudited accounts for the year ended 31 December 2024
Gentoo Sailing Team Limited Unaudited accounts Contents
Page
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Gentoo Sailing Team Limited Company Information for the year ended 31 December 2024
Director
James Andrew Harayda
Company Number
13916758 (England and Wales)
Registered Office
4 Park Road Richmond TW10 6NS
Accountants
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY
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Gentoo Sailing Team Limited Accountants' report
Accountants' report to the director of Gentoo Sailing Team Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gentoo Sailing Team Limited for the year ended 31 December 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Gentoo Sailing Team Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Gentoo Sailing Team Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gentoo Sailing Team Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Gentoo Sailing Team Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Gentoo Sailing Team Limited. You consider that Gentoo Sailing Team Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Gentoo Sailing Team Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY 31 March 2025
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Gentoo Sailing Team Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
617,281 
654,986 
Current assets
Debtors
7,712 
31,857 
Cash at bank and in hand
9,291 
20,051 
17,003 
51,908 
Creditors: amounts falling due within one year
(8,229)
(27,661)
Net current assets
8,774 
24,247 
Total assets less current liabilities
626,055 
679,233 
Creditors: amounts falling due after more than one year
(1,570,653)
(1,342,178)
Net liabilities
(944,598)
(662,945)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(944,599)
(662,946)
Shareholders' funds
(944,598)
(662,945)
For the year ending 31 December 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 April 2025 and were signed on its behalf by
James Andrew Harayda Director Company Registration No. 13916758
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Gentoo Sailing Team Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Gentoo Sailing Team Limited is a private company, limited by shares, registered in England and Wales, registration number 13916758. The registered office is 4 Park Road, Richmond, TW10 6NS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The Director has committed to funding the business by virtue of an interest free DLA. The Director has further confirmed that the DLA will not be called up within the next 12 months.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign exchange
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Straight Line
Computer equipment
20% straight Line
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.
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Gentoo Sailing Team Limited Notes to the Accounts for the year ended 31 December 2024
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.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
30,780 
690,556 
500 
721,836 
At 31 December 2024
30,780 
690,556 
500 
721,836 
Depreciation
At 1 January 2024
3,474 
63,301 
75 
66,850 
Charge for the year
3,077 
34,528 
100 
37,705 
At 31 December 2024
6,551 
97,829 
175 
104,555 
Net book value
At 31 December 2024
24,229 
592,727 
325 
617,281 
At 31 December 2023
27,306 
627,255 
425 
654,986 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
1,046 
12,998 
Amounts due from group undertakings etc.
4,321 
3,024 
Accrued income and prepayments
2,345 
15,433 
7,712 
31,455 
Amounts falling due after more than one year
Other debtors
- 
402 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
8,229 
27,661 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
1,442,995 
1,234,086 
Loans from directors
127,658 
108,092 
1,570,653 
1,342,178 
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Gentoo Sailing Team Limited Notes to the Accounts for the year ended 31 December 2024
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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