3 false false false false false false false false false false true false false true true true true No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 06379218 2023-10-01 2024-09-30 06379218 2024-09-30 06379218 2023-09-30 06379218 2022-10-01 2023-09-30 06379218 2023-09-30 06379218 2022-09-30 06379218 bus:Director1 2023-10-01 2024-09-30 06379218 core:WithinOneYear 2024-09-30 06379218 core:WithinOneYear 2023-09-30 06379218 core:AfterOneYear 2023-09-30 06379218 bus:Micro-entities 2023-10-01 2024-09-30 06379218 bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 06379218 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 06379218 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 06379218 bus:FullAccounts 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: 06379218
Sailing Faster Yacht Charters Limited
Unaudited Financial Statements
30 September 2024
Sailing Faster Yacht Charters Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Income statement
1
Statement of financial position and the notes to the financial statements
2
Sailing Faster Yacht Charters Limited
Income Statement
Year ended 30 September 2024
2024
2023
£
£
Turnover
36,860
70,950
Other income
-
1,257
--------
--------
36,860
72,207
Staff costs
36,998
39,506
Depreciation and other amounts written off assets
428
503
Other charges
21,313
39,013
Tax
-
( 1,199)
--------
--------
Loss
( 21,879)
( 5,616)
--------
--------
Sailing Faster Yacht Charters Limited
Statement of Financial Position
30 September 2024
2024
2023
£
£
Fixed assets
2,424
2,852
-------
-------
Current assets
76,656
86,013
Creditors: amounts falling due within one year
102,351
84,111
---------
--------
Net current (liabilities)/assets
( 25,695)
1,902
--------
-------
Total assets less current liabilities
( 23,271)
4,754
Creditors: amounts falling due after more than one year
-
9,796
Accruals and deferred income
4,050
400
--------
-------
(27,321)
(5,442)
--------
-------
Capital and reserves
( 27,321)
( 5,442)
--------
-------
Notes to the financial statements
1. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
2. Director's advances, credits and guarantees
Directors Loans The following (repayments) of directors loans occurred during the year:
2024 2023
£ £
Amount outstanding at beginning of year 64,117 62,771
Advances to directors - 1,346
Repayments by directors (10,639) -
Balance outstanding at 30 September 2024 53,478 64,117
The loans were advanced to the directors at 0% interest with no conditions attached.
3. Going concern
During the year and preceding year the Company suffered from a significant trading impairment as a result of the deterioration in the UK's general economic position as it affected its principle market, that of agent to recreational activities and business transfers. The Company's bankers withdrew their banking facilities in July 2024 and referred their bank overdraft plus Bounce Back loan to the debt agency 'Moorcroft' for collection. A plan to settle the outstanding balance has, since the year end, been agreed with Moorcroft.
To compensate for the lack of banking facilities, the directors used their own funds as necessary to supplement Company receipts (retained separately) and to maintain trading, reducing the Director's Loan Account in the process.
Since the year end, trading conditions have improved and the Company's current financial indebtedness been reduced, albeit slowly, as a result. The director undertakes to continue to reduced the Company's indebtedness as soon as possible and to this end work with creditors to agree full settlement of their debts.
On this basis and an improved trading outlook, these accounts have been prepared on a Going Concern Basis.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the micro-entity provisions.
These financial statements were approved by the board of directors and authorised for issue on 2 June 2025 , and are signed on behalf of the board by:
Mr R Eggleton
Director
Company registration number: 06379218
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Windmill Cottage, Southbrook Road, West Ashling, CHICHESTER, West Sussex, PO18 8DN, England.