REGISTERED NUMBER: SC112368 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Sailforth Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D W Ethell

Mrs J Ethell

SECRETARY:

D W Ethell

REGISTERED OFFICE:

Crogach

Shore Road

Cove

G84 0NY

REGISTERED NUMBER:

SC112368 (Scotland)

ACCOUNTANTS:

Macleod Fulton

Scottcourt House

West Princes Street

Helensburgh

Argyll & Bute

G84 8BP

FIXED ASSETS

Intangible assets

4

99,946

99,946

Tangible assets

5

14,780

17,399

114,726

117,345

CURRENT ASSETS

Stocks

23,006

23,184

Debtors

6

1,822

1,175

Cash at bank

289

92

25,117

24,451

CREDITORS

Amounts falling due within one year

7

114,079

105,589

NET CURRENT LIABILITIES

(88,962

)

(81,138

)

TOTAL ASSETS LESS CURRENT LIABILITIES

25,764

36,207

CREDITORS

Amounts falling due after more than one year

8

25,431

32,581

NET ASSETS

333

3,626

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

331

3,624

333

3,626

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

D W Ethell - Director

1.	STATUTORY INFORMATION

Sailforth Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other Intangible Assets are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred. Development Expenditure is capitalised and amortised over its useful life.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	INTANGIBLE FIXED ASSETS

Other

Intangible

Assets

£

COST

At 1 January 2024

and 31 December 2024

99,946

NET BOOK VALUE

At 31 December 2024

99,946

At 31 December 2023

99,946

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

79,642

999

80,641

DEPRECIATION

At 1 January 2024

62,253

989

63,242

Charge for year

2,609

10

2,619

At 31 December 2024

64,862

999

65,861

NET BOOK VALUE

At 31 December 2024

14,780

-

14,780

At 31 December 2023

17,389

10

17,399

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

618

-

Other debtors

1,204

1,175

1,822

1,175

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

17,295

16,920

Trade creditors

345

5,485

Taxation and social security

-

(949

)

Other creditors

96,439

84,133

114,079

105,589

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

13,031

15,981

Other creditors

12,400

16,600

25,431

32,581

9.	CONTINGENT LIABILITIES

As at 31 December 2024 the company had no contingent liabilities. (2023 - £nil).

10.	CAPITAL COMMITMENTS

As at 31 December 2024 the company had no capital commitments. (2023 - £nil).

11.	RELATED PARTY DISCLOSURES