Masterlord Yacht Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08899377 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

MASTERLORD YACHT MANAGEMENT LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J W Bloomfield

C H Dawson

REGISTERED OFFICE:

Crane Court 302

London Road

Ipswich

Suffolk

IP2 0AJ

REGISTERED NUMBER:

08899377 (England and Wales)

ACCOUNTANTS:

Ballams

Chartered Accountants

Crane Court

302 London Road

Ipswich

Suffolk

IP2 0AJ

BANKERS:

National Westminster Bank Plc

2 Tavern Street

Ipswich

Suffolk

IP1 3BD

FIXED ASSETS

Tangible assets

3

13,157

18,145

Investments

4

165,000

165,000

178,157

183,145

CURRENT ASSETS

Debtors

5

10,020

10,020

Cash at bank

8,180

8,665

18,200

18,685

CREDITORS

Amounts falling due within one year

6

34,590

25,376

NET CURRENT LIABILITIES

(16,390

)

(6,691

)

TOTAL ASSETS LESS CURRENT LIABILITIES

161,767

176,454

CREDITORS

Amounts falling due after more than one year

7

117,330

114,467

NET ASSETS

44,437

61,987

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

44,436

61,986

SHAREHOLDERS' FUNDS

44,437

61,987

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 28 November 2019 and were signed on its behalf by:

J W Bloomfield - Director

C H Dawson - Director

1.	STATUTORY INFORMATION

Masterlord Yacht Management Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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 cost

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are

measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt

instruments that are repayable or receivable after one year are initially measured at the present value of the

future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for

evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the

Income Statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

3.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 December 2017

and 30 November 2018

14,826

6,000

20,826

DEPRECIATION

At 1 December 2017

1,806

875

2,681

Charge for year

3,707

1,281

4,988

At 30 November 2018

5,513

2,156

7,669

NET BOOK VALUE

At 30 November 2018

9,313

3,844

13,157

At 30 November 2017

13,020

5,125

18,145

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 December 2017

and 30 November 2018

165,000

NET BOOK VALUE

At 30 November 2018

165,000

At 30 November 2017

165,000

5.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

10,000

10,000

Amounts falling due after more than one year:

Amounts owed by group undertakings

20

20

Aggregate amounts

10,020

10,020

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

1,200

1,200

Other creditors

33,390

24,176

34,590

25,376

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Amounts owed to group undertakings

117,330

114,467

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1

Ordinary

£1

1

1