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Registered number: 04535124
Mondial Yachts Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Company Information 1
Balance Sheet 2
Notes to the Financial Statements 3—5
Page 1
Company Information
Director Mr Jean-Jacques Soete
Company Number 04535124
Registered Office First Floor, New Barnes Mill
Cottonmill Lane
St Albans
AL1 2HA
Accountants Town & Forest
Chartered Accountants & Statutory Auditors
First Floor, New Barnes Mill
Cottonmill Lane
St Albans
AL1 2HA
Page 1
Page 2
Balance Sheet
Registered number: 04535124
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 8,335
Tangible Assets 5 - 1,933
- 10,268
CURRENT ASSETS
Debtors 6 8,833 9,235
Cash at bank and in hand 238 11,227
9,071 20,462
Creditors: Amounts Falling Due Within One Year 7 (2,554 ) (2,818 )
NET CURRENT ASSETS (LIABILITIES) 6,517 17,644
TOTAL ASSETS LESS CURRENT LIABILITIES 6,517 27,912
NET ASSETS 6,517 27,912
CAPITAL AND RESERVES
Called up share capital 1 1
Profit and Loss Account 6,516 27,911
SHAREHOLDERS' FUNDS 6,517 27,912
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
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
Mr Jean-Jacques Soete
Director
3 June 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Mondial Yachts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04535124 . The registered office is First Floor, New Barnes Mill, Cottonmill Lane, St Albans, AL1 2HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The presentation currency of the financial statements is the Pound Sterling (£).
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 
As can be seen in note 9 of the full accounts, the historical cost convention has been modified as these accounts have not been prepared on a going concern basis.
2.2. Intangible Fixed Assets and Amortisation - Other Intangible
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.
Website redevelopment costs are being amortised to the profit and loss account evenly over their estimated useful life of five years.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33% on reducing balance
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
Taxation expense represents the sum of the tax currently payable and deferred tax.
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 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 is recognised in respect of all timing difference that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in the tax assessments in periods different from those in which they are recognised in the 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Provisions and accruals
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Website development costs
£
Cost
As at 1 October 2023 8,335
Disposals (8,335 )
As at 30 September 2024 -
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 8,335
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 October 2023 1,485 1,143 2,628
Disposals (1,485 ) (1,143 ) (2,628 )
As at 30 September 2024 - - -
Depreciation
As at 1 October 2023 538 157 695
Provided during the period 138 148 286
Disposals (676 ) (305 ) (981 )
As at 30 September 2024 - - -
Net Book Value
As at 30 September 2024 - - -
As at 1 October 2023 947 986 1,933
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,080 -
Corporation tax recoverable assets 1,545 4,658
Director's loan account 6,208 4,577
8,833 9,235
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 214 193
Corporation tax - 1,545
Accruals and deferred income 2,340 1,080
2,554 2,818
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans from directors:
As at 1 October 2023 Amounts advanced Amounts repaid Amounts written off As at 30 September 2024
£ £ £ £ £
Mr Jean-Jacques Soete 4,577 12,634 (11,003 ) - 6,208
The above loan is unsecured, interest free and repayable on demand.
9. Post Balance Sheet Events
The accounts for Mondial Yachts Limited for the year ended 30 September 2024 have not been prepared on a going concern basis. The company had very little trade during the year and the director is likely to close the company in 2026.
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