European Yachting Equipment Company Ltd - Accounts to registrar (filleted) - small 18.2

European Yachting Equipment Company Ltd - Accounts to registrar (filleted) - small 18.2

EUROPEAN YACHTING EQUIPMENT COMPANY LIMITED - Company Information

Print Friendly Version

PTP Accounts Production v20.3.4.1 02541440 Board of Directors Board of Directors 1.1.20 31.12.20 31.12.20 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure025414402019-12-31025414402020-12-31025414402020-01-012020-12-31025414402018-12-31025414402019-01-012019-12-31025414402019-12-3102541440ns16:EnglandWales2020-01-012020-12-3102541440ns15:PoundSterling2020-01-012020-12-3102541440ns11:Director12020-01-012020-12-3102541440ns11:Director22020-01-012020-12-3102541440ns11:PrivateLimitedCompanyLtd2020-01-012020-12-3102541440ns11:SmallEntities2020-01-012020-12-3102541440ns11:AuditExemptWithAccountantsReport2020-01-012020-12-3102541440ns11:SmallCompaniesRegimeForDirectorsReport2020-01-012020-12-3102541440ns11:SmallCompaniesRegimeForAccounts2020-01-012020-12-3102541440ns11:FullAccounts2020-01-012020-12-3102541440ns11:CompanySecretary12020-01-012020-12-3102541440ns11:RegisteredOffice2020-01-012020-12-3102541440ns6:CurrentFinancialInstruments2020-12-3102541440ns6:CurrentFinancialInstruments2019-12-3102541440ns6:ShareCapital2020-12-3102541440ns6:ShareCapital2019-12-3102541440ns6:SharePremium2020-12-3102541440ns6:SharePremium2019-12-3102541440ns6:RetainedEarningsAccumulatedLosses2020-12-3102541440ns6:RetainedEarningsAccumulatedLosses2019-12-3102541440ns6:LandBuildings2019-12-3102541440ns6:LandBuildings2020-01-012020-12-3102541440ns6:LandBuildings2020-12-3102541440ns6:LandBuildings2019-12-31
REGISTERED NUMBER: 02541440 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2020

for

European Yachting Equipment Company Ltd
European Yachting Equipment Company Ltd (Registered number: 02541440)






Contents of the Financial Statements
for the Year Ended 31 December 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

European Yachting Equipment Company Ltd

Company Information
for the Year Ended 31 December 2020







DIRECTORS: P S K Elliott
Mrs N D Elliott





SECRETARY:





REGISTERED OFFICE: The Gunshed
Levington
Ipswich
Suffolk
IP10 0LP





REGISTERED NUMBER: 02541440 (England and Wales)





ACCOUNTANTS: Rosemary Unthank
15 Thornley Road
Felixstowe
Suffolk
IP11 7LA
Page 1
European Yachting Equipment Company Ltd (Registered number: 02541440)

Balance Sheet
31 December 2020

31.12.20 31.12.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,212 21,857

CURRENT ASSETS
Debtors 5 284,699 313,179
Investments 6 1 1
Cash at bank 28,244 259
312,944 313,439
CREDITORS
Amounts falling due within one year 7 600 600
NET CURRENT ASSETS 312,344 312,839
TOTAL ASSETS LESS CURRENT
LIABILITIES
329,556
334,696

CAPITAL AND RESERVES
Called up share capital 114,112 114,112
Share premium 8,500 8,500
Retained earnings 206,944 212,084
SHAREHOLDERS' FUNDS 329,556 334,696

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 notes form part of these financial statements

Page 2 continued...
European Yachting Equipment Company Ltd (Registered number: 02541440)

Balance Sheet - continued
31 December 2020


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 9 March 2021 and were signed on its behalf by:




P S K Elliott - Director



Mrs N D Elliott - Director


The notes form part of these financial statements

Page 3
European Yachting Equipment Company Ltd (Registered number: 02541440)

Notes to the Financial Statements
for the Year Ended 31 December 2020

1. STATUTORY INFORMATION

European Yachting Equipment Company 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Freehold Property - 4% on cost

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.

3. EMPLOYEES AND DIRECTORS

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

Page 4 continued...
European Yachting Equipment Company Ltd (Registered number: 02541440)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 January 2020
and 31 December 2020 116,114
DEPRECIATION
At 1 January 2020 94,257
Charge for year 4,645
At 31 December 2020 98,902
NET BOOK VALUE
At 31 December 2020 17,212
At 31 December 2019 21,857

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Amounts owed by group undertakings 284,699 313,179

6. CURRENT ASSET INVESTMENTS
31.12.20 31.12.19
£    £   
Shares in group undertakings 1 1

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Other creditors 600 600

8. RELATED PARTY DISCLOSURES

As at the balance sheet date the company was owed £313,179 by E.Y.E. Marine Limited by way of an inter-company loan.

9. ULTIMATE CONTROLLING PARTY

P S K Elliott and his wife Mrs N D Elliott, who are directors of the company, control the company by virtue of a 97.8% interest in the company's issued ordinary share capital.

Page 5
Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
European Yachting Equipment Company Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of European Yachting Equipment Company Ltd for the year ended 31 December 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of European Yachting Equipment Company Ltd, as a body, in accordance with the terms of our engagement letter dated 30 July 2017. Our work has been undertaken solely to prepare for your approval the financial statements of European Yachting Equipment Company Ltd and state those matters that we have agreed to state to the Board of Directors of European Yachting Equipment Company Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than European Yachting Equipment Company Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that European Yachting Equipment Company Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of European Yachting Equipment Company Ltd. You consider that European Yachting Equipment Company Ltd 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 financial statements of European Yachting Equipment Company Ltd. 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 financial statements.






Rosemary Unthank
15 Thornley Road
Felixstowe
Suffolk
IP11 7LA


Date: .............................................

This page does not form part of the statutory financial statements

Page 6