1 January 2025 false No description of principal activity Taxfiler 2024.6 true 13916758 business:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 13916758 2024-12-31 13916758 2025-01-01 2025-12-31 13916758 business:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 13916758 business:FilletedAccounts 2025-01-01 2025-12-31 13916758 2025-12-31 13916758 business:Director1 2025-01-01 2025-12-31 13916758 business:RegisteredOffice 2025-01-01 2025-12-31 13916758 2024-12-31 13916758 core:WithinOneYear 2025-12-31 13916758 core:WithinOneYear 2024-12-31 13916758 core:AfterOneYear 2025-12-31 13916758 core:AfterOneYear 2024-12-31 13916758 core:ShareCapital core:PreviouslyStatedAmount 2025-12-31 13916758 core:ShareCapital core:PreviouslyStatedAmount 2024-12-31 13916758 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2025-12-31 13916758 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2024-12-31 13916758 core:PreviouslyStatedAmount 2025-12-31 13916758 core:PreviouslyStatedAmount 2024-12-31 13916758 business:SmallEntities 2025-01-01 2025-12-31 13916758 countries:EnglandWales 2025-01-01 2025-12-31 13916758 core:PlantMachinery 2025-01-01 2025-12-31 13916758 core:ComputerEquipment 2025-01-01 2025-12-31 13916758 core:PlantMachinery 2024-12-31 13916758 core:MotorVehicles 2024-12-31 13916758 core:ComputerEquipment 2024-12-31 13916758 core:PlantMachinery 2025-12-31 13916758 core:MotorVehicles 2025-12-31 13916758 core:ComputerEquipment 2025-12-31 13916758 core:MotorVehicles 2025-01-01 2025-12-31 13916758 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Company Registration No. 13916758 (England and Wales)
Gentoo Sailing Team Limited Unaudited accounts for the year ended 31 December 2025
Gentoo Sailing Team Limited Unaudited accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
- 2 -
Gentoo Sailing Team Limited Company Information for the year ended 31 December 2025
Director
James Andrew Harayda
Company Number
13916758 (England and Wales)
Registered Office
4 Park Road Richmond TW10 6NS
Accountants
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY
- 3 -
Gentoo Sailing Team Limited Accountants' report
Accountants' report to the director of Gentoo Sailing Team Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gentoo Sailing Team Limited for the year ended 31 December 2025 as set out on pages 5 - 9 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Gentoo Sailing Team Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Gentoo Sailing Team Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gentoo Sailing Team Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Gentoo Sailing Team Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Gentoo Sailing Team Limited. You consider that Gentoo Sailing Team Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Gentoo Sailing Team Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY 3 March 2026
- 4 -
Gentoo Sailing Team Limited Statement of financial position as at 31 December 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
579,575
617,281
Current assets
Debtors
5
6,875
7,712
Cash at bank and in hand
2,160
9,291
9,035
17,003
Creditors: amounts falling due within one year
6
(6,274)
(8,229)
Net current assets
2,761
8,774
Total assets less current liabilities
582,336
626,055
Creditors: amounts falling due after more than one year
7
(1,627,543)
(1,570,653)
Net liabilities
(1,045,207)
(944,598)
Capital and reserves
Called up share capital
1
1
Profit and loss account
(1,045,208)
(944,599)
Shareholders' funds
(1,045,207)
(944,598)
For the year ending 31 December 2025 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 3 March 2026 and were signed on its behalf by
James Andrew Harayda Director Company Registration No. 13916758
- 5 -
Gentoo Sailing Team Limited Notes to the Accounts for the year ended 31 December 2025
1
Statutory information
Gentoo Sailing Team Limited is a private company, limited by shares, registered in England and Wales, registration number 13916758. The registered office is 4 Park Road, Richmond, TW10 6NS.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The financial statements have been prepared on a going concern basis. The directors consider that the company has adequate resources to continue in operational existence for the foreseeable future, and therefore have adopted the going concern basis of accounting in preparing the financial statements. As at 31 December 2025, the Company had an outstanding loan balance of £1,442,995 owed, bearing interest at 2% per annum. The loan is repayable on terms agreed between the parties, and the Director confirms that the Company is in compliance with all agreed conditions. The lenders have expressed no intention to demand repayment within the foreseeable future.
Turnover
Turnover is recognised to the extent that it is probable that the economic benefit will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Where payments are received from customers in advance of the goods being provided, these payments are accounted for as deferred income and included within creditors.
- 6 -
Gentoo Sailing Team Limited Notes to the Accounts for the year ended 31 December 2025
Taxation
Income tax expense represents the sum of the tax payable and deferred tax. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted. The tax expense for the year comprises current. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates.
Foreign exchange
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:
Plant & machinery
10% Straight Line
Computer equipment
20% straight Line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
- 7 -
Gentoo Sailing Team Limited Notes to the Accounts for the year ended 31 December 2025
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.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivables 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.
Creditors
Short term trade 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.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 January 2025
30,780
690,556
500
721,836
At 31 December 2025
30,780
690,556
500
721,836
Depreciation
At 1 January 2025
6,551
97,829
175
104,555
Charge for the year
3,078
34,528
100
37,706
At 31 December 2025
9,629
132,357
275
142,261
Net book value
At 31 December 2025
21,151
558,199
225
579,575
At 31 December 2024
24,229
592,727
325
617,281
5
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
49
1,046
Amounts due from group undertakings etc.
4,321
4,321
Accrued income and prepayments
2,505
2,345
6,875
7,712
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
6,274
8,229
- 8 -
Gentoo Sailing Team Limited Notes to the Accounts for the year ended 31 December 2025
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
1,489,525
1,442,995
Loans from directors
138,018
127,658
1,627,543
1,570,653
8
Average number of employees
During the year the average number of employees was 1 (2024: 1).
- 9 -