Prometheus Sailing Ltd - Filleted accounts

Registered number

13000262

Prometheus Sailing Ltd

Filleted Accounts

31 October 2025

Prometheus Sailing Ltd
Registered number:	13000262
Balance Sheet
as at 31 October 2025

	Notes		2025			2024
£				£
Fixed assets
Intangible assets	3		1,625			3,125
Tangible assets	4		5,883			7,900
			7,508			11,025

Current assets
Stocks		10,465			15,603
Debtors	5	128,144			251,905
Cash at bank and in hand		175,956			212,079
		314,565			479,587

Creditors: amounts falling due within one year	6	(284,007)			(363,341)

Net current assets			30,558			116,246

Total assets less current liabilities			38,066			127,271

Creditors: amounts falling due after more than one year	7		(92,059)			(43,911)



Net (liabilities)/assets			(53,993)			83,360

Capital and reserves
Called up share capital			3			3
Profit and loss account			(53,996)			83,357

Shareholders' funds			(53,993)			83,360

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



Mr. Simon Boulding
Director
Approved by the board on 13 July 2026

Prometheus Sailing Ltd
Notes to the Accounts
for the year ended 31 October 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets - Goodwill
	Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss over its estimated economic life of 1 year. Goodwill is negative as purchase price was lower than that of fair value.

	Intangible fixed assets - Other Intangible
	Other intangible assets are Website Building costs. It is amortised to profit and loss account over its estimated economic life of 5 years.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	3-5 years straight-line basis
	Fixtures and fittings	5 years straight-line basis
	Computer equipment	3 years straight-line basis

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			8		8


3	Intangible fixed assets
		Goodwill		Other		Total
£			£		£
	Cost
	At 1 November 2024	(13,175)		7,500		(5,675)
	At 31 October 2025	(13,175)		7,500		(5,675)

	Amortisation
	At 1 November 2024	(13,175)		2,875		(8,800)
	Provided during the year	-		1,500		1,500
	At 31 October 2025	(13,175)		4,375		(7,300)

	Net book value
	At 31 October 2025	-		3,125		1,625
	At 31 October 2024	-		-		3,125


4	Tangible fixed assets
						Plant and machinery etc
£
	Cost
	At 1 November 2024					14,715
	Additions					1,534
	At 31 October 2025					16,249

	Depreciation
	At 1 November 2024					6,815
	Charge for the year					3,551
	At 31 October 2025					10,366

	Net book value
	At 31 October 2025					5,883
	At 31 October 2024					7,900


5	Debtors			2025		2024
£					£

	Trade debtors			77,023		181,465
	Prepayments			46,583		58,475
	Other debtors			4,538		11,965
				128,144		251,905


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Trade creditors			91,878		118,124
	Taxation and social security costs			10,731		27,866
	Other creditors			28,297		38,948
	Deferred income			104,781		114,768
	Accruals			48,320		63,635
				284,007		363,341


7	Creditors: amounts falling due after one year			2025		2024
£					£

	Amounts owed to related parties			92,059		43,911


8	Controlling party

	The parent company of Prometheus Sailing Ltd during the reporting period was Prometheus Sailing Holding Limited, which held a registered office at Port Solent Marina Office Lock Approach, Port Solent, Portsmouth, England, PO6 4TJ.


9	Other information

	Prometheus Sailing Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Prometheus Sunsail, The Marina Lock Approach
	Port Solent
	Portsmouth
	England
	PO6 4TJ