ACCOUNTS - Final Accounts preparation

Registered number: OC350757

SUPERYACHT SOLUTIONS LLP

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

SUPERYACHT SOLUTIONS LLP

REGISTERED NUMBER: OC350757

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	55,636		246,848
Cash at bank and in hand	5	371,097		373,022
Current liabilities		426,733		619,870
Creditors: amounts falling due within one year	6	(63,023)		(99,032)
Net current assets			363,710		520,838
Net assets			363,710		520,838

Represented by:
Loans and other debts due to members within one year
Members' capital classified as equity	64,600	64,600
Other reserves classified as equity	299,110	456,238
	363,710	520,838

Total members' interests
Members' other interests	363,710	520,838
	363,710	520,838

Page 1

SUPERYACHT SOLUTIONS LLP

REGISTERED NUMBER: OC350757

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by:

Bandshield Limited

Designated member

Date: 30 September 2025

The notes on pages 4 to 6 form part of these financial statements.

Page 2

SUPERYACHT SOLUTIONS LLP

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Members capital (classified as equity)	Other reserves	Total equity
	£	£	£
At 1 January 2023	64,600	387,492	452,092

Drawings	-	(298,985)	(298,985)
Allocated profit	-	367,731	367,731

At 1 January 2024	64,600	456,238	520,838

Drawings	-	(271,078)	(271,078)
Allocated profit	-	113,950	113,950
At 31 December 2024	64,600	299,110	363,710

The notes on pages 4 to 6 form part of these financial statements.

Page 3

SUPERYACHT SOLUTIONS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Superyacht Solutions LLP is a limited liability partnership, with the registered number OC350757, registered in England and Wales under the Companies Act. Its registered office is Arcadia House, Maritime Walk, Ocean Village, Southampton, SO14 3TL.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

The members believe that the LLP has sufficient resources to continue to operate for a period of at least 12 months from the date of signing the financial statements and consider the going concern basis is appropriate in preparing the financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the LLP will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the LLP in independently administered funds.

Page 4

SUPERYACHT SOLUTIONS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Taxation

Taxation on a members' share of the LLP's profits is solely the personal liability of the individual
members and consequently is not dealt with in these financial statements.

2.6

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	Employees
	The average number of employees during the year was 2 (2023 - 3).

Debtors

					2024	2023
					£	£


Trade debtors	55,636	240,548
Prepayments and accrued income	-	6,300
	55,636	246,848

Page 5

SUPERYACHT SOLUTIONS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Cash and cash equivalents
		2024	2023
		£	£

	Cash at bank and in hand	371,097	373,022

6.	Creditors: amounts falling due within one year
		2024	2023
		£	£

Trade creditors	5,036	17,589
Other taxation and social security	57,582	72,069
Other creditors	405	88
Accruals and deferred income	-	9,286
	63,023	99,032

7.	Pension commitments

The LLP operates a defined contribution scheme for its employees. The assets of the scheme are kept independently of the LLP in separately administered funds.
The amount charged to the profit or loss during the year was £27 (2023: £1,084).
At the balance sheet date there were no contributions (2023: £88) payable to the fund.

Related party transactions

During the year the LLP paid management charges to Bandshield Pty Ltd totalling £113,400 (2023 - £109,200). Amounts owed to this entity at the year end were £2,100 (2023: £Nil).
During the year the LLP made payments for administrative services to Marineware Pty Ltd, a company controlled by the shareholders of Bandshield Limited and Capestream Limited, totalling £36,821 (2023: £62,338).
Transactions between the LLP and the owners holding a participating interest in the small entity are detailed within the Reconciliation of Members' Interests.

Page 6