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REGISTERED NUMBER: 03704341 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2025

for

Topsail Charters Limited

Topsail Charters Limited (Registered number: 03704341)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Topsail Charters Limited

Company Information
for the Year Ended 31 January 2025







DIRECTORS: S J Valentine
P A Jeffries
Miss L Jeffries





SECRETARY: S J Valentine





REGISTERED OFFICE: 2 High Street
Burnham on Crouch
Essex
CM0 8AA





REGISTERED NUMBER: 03704341 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
2 High Street
Burnham on Crouch
Essex
CM0 8AA

Topsail Charters Limited (Registered number: 03704341)

Balance Sheet
31 January 2025

31.1.25 31.1.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,917 1,670

CURRENT ASSETS
Debtors 5 112,393 83,310
Cash at bank and in hand 42,992 84,863
155,385 168,173
CREDITORS
Amounts falling due within one year 6 31,185 20,702
NET CURRENT ASSETS 124,200 147,471
TOTAL ASSETS LESS CURRENT
LIABILITIES

129,117

149,141

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 129,115 149,139
SHAREHOLDERS' FUNDS 129,117 149,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:





S J Valentine - Director


Topsail Charters Limited (Registered number: 03704341)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Topsail Charters Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - amortised over life of lease
Plant & machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

Topsail Charters Limited (Registered number: 03704341)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant & and
leasehold machinery fittings
£    £    £   
COST
At 1 February 2024 17,000 4,164 7,626
Additions - - -
Disposals - - -
At 31 January 2025 17,000 4,164 7,626
DEPRECIATION
At 1 February 2024 17,000 3,176 7,288
Charge for year - 222 338
Eliminated on disposal - - -
At 31 January 2025 17,000 3,398 7,626
NET BOOK VALUE
At 31 January 2025 - 766 -
At 31 January 2024 - 988 338

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2024 7,030 8,754 44,574
Additions 4,700 - 4,700
Disposals (7,030 ) - (7,030 )
At 31 January 2025 4,700 8,754 42,244
DEPRECIATION
At 1 February 2024 7,030 8,410 42,904
Charge for year 549 344 1,453
Eliminated on disposal (7,030 ) - (7,030 )
At 31 January 2025 549 8,754 37,327
NET BOOK VALUE
At 31 January 2025 4,151 - 4,917
At 31 January 2024 - 344 1,670

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Trade debtors 69,929 53,766
Other debtors 42,464 29,544
112,393 83,310

Topsail Charters Limited (Registered number: 03704341)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Trade creditors 23,915 14,211
Taxation and social security 1,730 751
Other creditors 5,540 5,740
31,185 20,702

7. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of Mrs S Valentine and Mr P Jeffries by virtue of their shareholdings and directorships.