Super Yacht Holidays Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09286021 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

SUPER YACHT HOLIDAYS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A M Luxmoore

M G Fresson

REGISTERED OFFICE:

49 Stile Hall Gardens

Chiswick

London

W4 3BT

REGISTERED NUMBER:

09286021 (England and Wales)

ACCOUNTANTS:

Menzies LLP

Centrum House

36 Station Road

Egham

Surrey

TW20 9LF

FIXED ASSETS

Tangible assets

5

2,095,902

2,255,256

Investments

6

1

1

2,095,903

2,255,257

CURRENT ASSETS

Debtors

7

16,351

14,264

Cash at bank

137,835

103,280

154,186

117,544

CREDITORS

Amounts falling due within one year

8

333,106

320,208

NET CURRENT LIABILITIES

(178,920

)

(202,664

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,916,983

2,052,593

CREDITORS

Amounts falling due after more than one year

9

902,097

760,296

NET ASSETS

1,014,886

1,292,297

CAPITAL AND RESERVES

Called up share capital

11

982,610

982,610

Share premium

96,890

96,890

Retained earnings

(64,614

)

212,797

SHAREHOLDERS' FUNDS

1,014,886

1,292,297

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2021 and were signed on its behalf by:

A M Luxmoore - Director

1.	STATUTORY INFORMATION

Super Yacht Holidays 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Management make estimates and assumptions concerning the future. The resulting accounting estimates and judgements by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial period.

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 etc

-

20% on cost and 5% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities.

Short term debtors are measured at transaction price, less any impairment. Long term debtors and loan receivable are measured initially at transaction price, net of transaction costs and are subsequently measured at fair value using the effective interest method, less any impairment.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of withdrawal. Cash equivalents are readily convertible to known amounts of cash with insignificant risk of change in value.

Short term creditors are measured at transaction price. Long term creditors and loans are measured initially at transaction price, net of transaction costs and are subsequently measured at fair value using the effective interest method.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

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.

Foreign currencies

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

and 31 December 2020

2,803,061

DEPRECIATION

At 1 January 2020

547,805

Charge for year

159,354

At 31 December 2020

707,159

NET BOOK VALUE

At 31 December 2020

2,095,902

At 31 December 2019

2,255,256

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2020

and 31 December 2020

1

NET BOOK VALUE

At 31 December 2020

1

At 31 December 2019

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

10,823

3,655

Other debtors

5,528

10,609

16,351

14,264

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

250,000

250,001

Trade creditors

394

7,476

Other creditors

82,712

62,731

333,106

320,208

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

527,097

585,296

Other creditors

375,000

175,000

902,097

760,296

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.20

31.12.19

£

£

Bank loans

777,097

835,297

Bank loans and related finance are secured by way of fixed charge over the tangible fixed assets of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

982,610

Ordinary

£1

982,610

982,610