COMPANY REGISTRATION NUMBER:
06379218
|
Sailing Faster Yacht Charters Limited |
|
|
Unaudited Financial Statements |
|
|
Sailing Faster Yacht Charters Limited |
|
Year ended 30 September 2025
|
Statement of financial position and the notes to the financial statements |
2 |
|
|
|
Sailing Faster Yacht Charters Limited |
|
Year ended 30 September 2025
|
2025 |
2024 |
|
£ |
£ |
|
Turnover |
66,911 |
36,860 |
|
|
|
|
Staff costs |
33,582 |
36,998 |
|
|
|
|
Depreciation and other amounts written off assets |
363 |
428 |
|
|
|
|
Other charges |
14,024 |
21,313 |
|
|
|
|
-------- |
-------- |
|
Profit/(loss) |
18,942 |
(
21,879) |
|
-------- |
-------- |
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|
|
|
Sailing Faster Yacht Charters Limited |
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|
Statement of Financial Position |
|
30 September 2025
|
2025 |
2024 |
|
£ |
£ |
|
Fixed assets |
2,061 |
2,424 |
|
------- |
------- |
|
|
|
|
Current assets |
88,982 |
76,656 |
|
|
|
|
Creditors: amounts falling due within one year |
109,305 |
102,351 |
|
--------- |
--------- |
|
Net current liabilities |
20,323 |
25,695 |
|
-------- |
-------- |
|
Total assets less current liabilities |
(
18,262) |
(
23,271) |
|
|
|
|
Creditors: amounts falling due after more than one year |
13,087 |
- |
|
|
|
|
Accruals and deferred income |
4,495 |
4,050 |
|
-------- |
-------- |
|
(35,844) |
(27,321) |
|
-------- |
-------- |
|
|
|
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Capital and reserves |
(
35,844) |
(
27,321) |
|
-------- |
-------- |
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Notes to the financial statements
1.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2024:
3
).
2.
Director's advances, credits and guarantees
Directors Loans The following (repayments) of directors loans occurred during the year:
|
Amount outstanding at beginning of year |
53,478 |
64,117 |
|
Repayments by directors |
9,565 |
10,639 |
|
Balance outstanding at 30 September 2024 |
43,913 |
53,478 |
|
|
|
|
The loans were advanced to the directors at 0% interest with no conditions attached.
3.
Going concern
During the years 2023 and 2024, the Company suffered from a significant trading impairment as a result of the deterioration in the UK's general economic position as it affected its principle market, that of agent for business transfers. The Company's bankers withdrew their banking facilities in July 2024 and referred their bank overdraft plus Bounce Back loan to the debt agency 'Moorcroft' for collection. A plan to settle the outstanding balance has, since the year end, been agreed with Moorcroft.
To compensate for the lack of banking facilities, the directors used their own funds as necessary to supplement Company receipts (retained separately) and to maintain trading, reducing the Director's Loan Account in the process.
Since year end 30 September 2024, while trading conditions have improved and the Company's current financial indebtedness has been reduced, the directors have concluded that trading without a bank account has proved exceedingly difficult. They, therefore, decided that from 31 March 2025, the Company should cease trading and the business of Mandens be transferred to a self-employed business trading as "Mandens". This business was registered with H.M. Revenue and Customs (HMRC) with effect from 1 April 2025.
The Company therefore ceased trading as of 31 March 2025 and these accounts have been prepared on Going Concern basis up to that date. Since that date, the directors have been involved in collecting debts and arranging settlement of liabilies.
As part of these disussions, the director have agreed the Company's total tax indebtedness to HMRC and a plan settled for them to personally clear these liabilities over the next year. The agreed liabilities and the settlememnt plan have been reflected in these accounts. The Statement of Financial Position as of 30 September 2025 discloses the assets and liabilities position of that date.The amount owed by the directors is disclosed as debtors in the Statement of Financial Affairs. Since the date of of these accounts, £50,000 has been repaid by the directors.
In light of the Company's non-trading status as of 30 September 2025, these accounts have not been prepared on a Going Concern basis since 1 April 2025.
For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements have been prepared in accordance with the micro-entity provisions.
These financial statements were approved by the
board of directors
and authorised for issue on
20 March 2026
, and are signed on behalf of the board by:
Company registration number:
06379218
Due to the need to operate without a Company bank account, the directors have had to resort to estimates where the income or expenditure is not reliably recorded. In all such cases best estimates have been used to arrive at a materially correct amount to reflect the transaction concerned. Every effort has been made to ensure that the Statement of Financial Position as of the reporting date materially reflects the state of the Company's affairs as of the reporting date.