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Registered number: 03440384
Doyle Sails Solent Ltd
Unaudited Financial Statements
For the Period 1 April 2024 to 31 December 2024
Devonports LAS Accountants Ltd
Cumberland House
24 - 28 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03440384
31 December 2024 31 March 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 92,447 104,453
92,447 104,453
CURRENT ASSETS
Stocks 5 452,217 360,884
Debtors 6 140,969 399,116
Cash at bank and in hand 201,920 192,779
795,106 952,779
Creditors: Amounts Falling Due Within One Year 7 (905,285 ) (1,049,368 )
NET CURRENT ASSETS (LIABILITIES) (110,179 ) (96,589 )
TOTAL ASSETS LESS CURRENT LIABILITIES (17,732 ) 7,864
NET (LIABILITIES)/ASSETS (17,732 ) 7,864
CAPITAL AND RESERVES
Called up share capital 8 119,079 119,079
Share premium account 14,255 14,255
Profit and Loss Account (151,066 ) (125,470 )
SHAREHOLDERS' FUNDS (17,732) 7,864
Page 1
Page 2
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 directors acknowledge their 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 Brian Thompson
Director
23/09/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Doyle Sails Solent Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03440384 . The registered office is LAS Partnership, The Rivendell Centre, White Horse Lane, Maldon, Essex, CM9 5QP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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 25% Reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the period was: 5 (2024: 7)
5 7
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2024 194,066
Additions 18,810
As at 31 December 2024 212,876
Depreciation
As at 1 April 2024 89,613
Provided during the period 30,816
As at 31 December 2024 120,429
Net Book Value
As at 31 December 2024 92,447
As at 1 April 2024 104,453
5. Stocks
31 December 2024 31 March 2024
£ £
Stock 452,217 360,884
6. Debtors
31 December 2024 31 March 2024
£ £
Due within one year
Amounts recoverable on contracts 140,969 399,116
7. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 March 2024
£ £
Capital grants 905,285 1,049,368
Page 4
Page 5
8. Share Capital
31 December 2024 31 March 2024
£ £
Allotted, Called up and fully paid 119,079 119,079
Page 5