Company registration number 1638855 (England and Wales)
LONDON SAILBOARDS (BRAY LAKE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LONDON SAILBOARDS (BRAY LAKE) LIMITED
COMPANY INFORMATION
Director
S Frost
Secretary
S Frost
Company number
1638855
Registered office
Bray Lake
Monkey Island Lane
Windsor Road
Maidenhead
Berkshire
SL6 2EB
Accountants
Windsor Accountancy Limited
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU
LONDON SAILBOARDS (BRAY LAKE) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
LONDON SAILBOARDS (BRAY LAKE) LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
42,403
33,628
Current assets
Stocks
4
171,755
176,764
Debtors
5
10,331
13,907
Cash at bank and in hand
68,561
74,691
250,647
265,362
Creditors: amounts falling due within one year
6
(206,751)
(199,578)
Net current assets
43,896
65,784
Total assets less current liabilities
86,299
99,412
Provisions for liabilities
Deferred tax liability
5,990
561
(5,990)
(561)
Net assets
80,309
98,851
Capital and reserves
Called up share capital
199
199
Profit and loss reserves
80,110
98,652
Total equity
80,309
98,851
LONDON SAILBOARDS (BRAY LAKE) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2024
30 November 2024
- 2 -

For the financial year ended 30 November 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 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 18 August 2025
S Frost
Director
Company registration number 1638855 (England and Wales)
LONDON SAILBOARDS (BRAY LAKE) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 December 2022
199
148,514
148,713
Year ended 30 November 2023:
Loss and total comprehensive income
-
(16,122)
(16,122)
Dividends
-
(33,740)
(33,740)
Balance at 30 November 2023
199
98,652
98,851
Year ended 30 November 2024:
Profit and total comprehensive income
-
15,958
15,958
Dividends
-
(34,500)
(34,500)
Balance at 30 November 2024
199
80,110
80,309
LONDON SAILBOARDS (BRAY LAKE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
1
Accounting policies
Company information

London Sailboards (Bray Lake) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bray Lake, Monkey Island Lane, Windsor Road, Maidenhead, Berkshire, SL6 2EB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods and services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
30% on reducing balance
Computer equipment
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

LONDON SAILBOARDS (BRAY LAKE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Financial instruments
Basic financial liabilities

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
18
17
LONDON SAILBOARDS (BRAY LAKE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
3
Tangible fixed assets
Plant and equipment
Computer equipment
Total
£
£
£
Cost
At 1 December 2023
92,324
12,036
104,360
Additions
22,842
647
23,489
Disposals
(10,478)
(2,008)
(12,486)
At 30 November 2024
104,688
10,675
115,363
Depreciation and impairment
At 1 December 2023
62,787
7,945
70,732
Depreciation charged in the year
13,463
1,251
14,714
Eliminated in respect of disposals
(10,478)
(2,008)
(12,486)
At 30 November 2024
65,772
7,188
72,960
Carrying amount
At 30 November 2024
38,916
3,487
42,403
At 30 November 2023
29,537
4,091
33,628
4
Stocks
2024
2023
£
£
Finished goods and goods for resale
171,755
176,764
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,707
4,529
Other debtors
610
2,401
Prepayments and accrued income
7,014
6,977
10,331
13,907
LONDON SAILBOARDS (BRAY LAKE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Trade creditors
30,607
13,973
Taxation and social security
18,315
28,229
Deferred income
19,943
17,578
Other creditors
135,241
137,298
Accruals and deferred income
2,645
2,500
206,751
199,578
7
Directors' transactions
Description
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
S Frost
(119,534)
36,800
(34,579)
(117,313)
(119,534)
36,800
(34,579)
(117,313)
Other transactions with directors
The balance due to the director at the year end date was free of interest and deemed repayable on demand.
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