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REGISTERED NUMBER: 15028164 (England and Wales)















FINANCIAL STATEMENTS FOR THE PERIOD 25 JULY 2023 TO 31 DECEMBER 2024

FOR

Sailor V Ltd

Sailor V Ltd (Registered number: 15028164)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 25 July 2023 to 31 December 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Sailor V Ltd

COMPANY INFORMATION
for the period 25 July 2023 to 31 December 2024







Director: M A Cosway





Registered office: 36 Fore Street
Salcombe
Devon
TQ8 8JF





Registered number: 15028164 (England and Wales)





Accountants: Websters
129 North Hill
Plymouth
Devon
PL4 8JY

Sailor V Ltd (Registered number: 15028164)

BALANCE SHEET
31 December 2024

Notes £    £   
Fixed assets
Intangible assets 4 66,290
Tangible assets 5 24,097
90,387

Current assets
Stocks 3,000
Debtors 6 71,011
Cash in hand 348
74,359
Creditors
Amounts falling due within one year 7 355,060
Net current liabilities (280,701 )
Total assets less current liabilities (190,314 )

Capital and reserves
Called up share capital 8 1
Retained earnings (190,315 )
Shareholders' funds (190,314 )

Sailor V Ltd (Registered number: 15028164)

BALANCE SHEET - continued
31 December 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 April 2025 and were signed by:





M A Cosway - Director


Sailor V Ltd (Registered number: 15028164)

NOTES TO THE FINANCIAL STATEMENTS
for the period 25 July 2023 to 31 December 2024

1. STATUTORY INFORMATION

Sailor V Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The Financial Statements have been prepared on the going concern basis. This basis assumes that the company will have sufficient creditor funding to enable it to continue to operate for the foreseeable future. With the support of financiers, the director believes that the going concern basis of preparation remains appropriate in the company's circumstances.

Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of restaurant items and are recognised on completeness.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 20% on reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.


Sailor V Ltd (Registered number: 15028164)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 25 July 2023 to 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Sailor V Ltd (Registered number: 15028164)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 25 July 2023 to 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
Additions 73,656
At 31 December 2024 73,656
Amortisation
Amortisation for period 7,366
At 31 December 2024 7,366
Net book value
At 31 December 2024 66,290

5. TANGIBLE FIXED ASSETS
Equipmen
£   
Cost
Additions 28,560
At 31 December 2024 28,560
Depreciation
Charge for period 4,463
At 31 December 2024 4,463
Net book value
At 31 December 2024 24,097

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 71,011

Sailor V Ltd (Registered number: 15028164)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 25 July 2023 to 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 68,120
Finance leases 13,663
Trade creditors 29,752
Taxation and social security 24,842
Other creditors 218,683
355,060

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1 Ordinary £1 1

1 Ordinary share of £1 was allotted and fully paid for cash at par during the period.

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the director owed the company £53,011 in respect of an overdrawn loan account. There is no fixed date of repayment and no interest charged on outstanding sums.

10. ULTIMATE CONTROLLING PARTY

The controlling party is M A Cosway.