REGISTERED NUMBER: 12942349 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

SAILS OF COWES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J Scholes

REGISTERED OFFICE:

1 Shooters Hill

Cowes

Isle of Wight

PO31 7BE

REGISTERED NUMBER:

12942349 (England and Wales)

ACCOUNTANTS:

Mackenzies, a Xeinadin company

1 Langley Court

Pyle Street

Newport

Isle of Wight

PO30 1LA

FIXED ASSETS

Intangible assets

4

-

5,000

Tangible assets

5

7,684

10,246

7,684

15,246

CURRENT ASSETS

Stocks

6

1,670

889

Debtors

7

857

23

Cash at bank

46,001

36,583

48,528

37,495

CREDITORS

Amounts falling due within one year

8

27,274

22,614

NET CURRENT ASSETS

21,254

14,881

TOTAL ASSETS LESS CURRENT LIABILITIES

28,938

30,127

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

28,937

30,126

SHAREHOLDERS' FUNDS

28,938

30,127

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 24 November 2025 and were signed by:

M J Scholes - Director

1.	STATUTORY INFORMATION

Sails of Cowes Ltd is a private company, limited by shares , registered in England and Wales. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

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

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2024

and 31 October 2025

25,000

AMORTISATION

At 1 November 2024

20,000

Amortisation for year

5,000

At 31 October 2025

25,000

NET BOOK VALUE

At 31 October 2025

-

At 31 October 2024

5,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 November 2024

13,240

9,434

22,674

Additions

3,641

1,999

5,640

Disposals

(9,044

)

(1,206

)

(10,250

)

At 31 October 2025

7,837

10,227

18,064

DEPRECIATION

At 1 November 2024

6,502

5,926

12,428

Charge for year

2,595

1,150

3,745

Eliminated on disposal

(5,492

)

(301

)

(5,793

)

At 31 October 2025

3,605

6,775

10,380

NET BOOK VALUE

At 31 October 2025

4,232

3,452

7,684

At 31 October 2024

6,738

3,508

10,246

6.

STOCKS

2025

2024

£

£

Stocks

1,670

889

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Tax

23

23

VAT

834

-

857

23

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

VAT

-

627

Other creditors

278

146

Directors' current accounts

26,123

20,968

Accrued expenses

873

873

27,274

22,614

Other creditors consist of pension contributions due.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

£1

1

1