Company Registration No. 15341742 (England and Wales)
Faith Yachts Limited
Unaudited accounts
for the period from 11 December 2023 to 31 December 2024
Faith Yachts Limited
Unaudited accounts
Contents
Faith Yachts Limited
Company Information
for the period from 11 December 2023 to 31 December 2024
Director
Jillian Lesley Evans
Company Number
15341742 (England and Wales)
Registered Office
First Floor The Estate Office Lewes Road
Ringmer
Lewes
BN8 5QE
England
Accountants
Collective Concepts Accounting Ltd
Faith Yachts Limited
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
294
Creditors: amounts falling due within one year
(100,646)
Called up share capital
100
Profit and loss account
1,302
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 September 2025 and were signed on its behalf by
Jillian Lesley Evans
Director
Company Registration No. 15341742
Faith Yachts Limited
Notes to the Accounts
for the period from 11 December 2023 to 31 December 2024
Faith Yachts Limited is a private company, limited by shares, registered in England and Wales, registration number 15341742. The registered office is First Floor The Estate Office Lewes Road, Ringmer, Lewes, BN8 5QE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.33% Straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Faith Yachts Limited
Notes to the Accounts
for the period from 11 December 2023 to 31 December 2024
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Accrued income and prepayments
140
6
Creditors: amounts falling due within one year
2024
Taxes and social security
8
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
At the period end the company was due £100 from Director as at 31/12/2024.
8
Average number of employees
During the period the average number of employees was 1.