Company No: 08133961 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2022		2021
		£		£
Current assets
Debtors	3	20,000		31,412
Cash at bank and in hand		13,381		23,053
		33,381		54,465
Creditors: amounts falling due within one year	4	( 6,494)		( 10,925)
Net current assets		26,887		43,540
Total assets less current liabilities		26,887		43,540
Creditors: amounts falling due after more than one year	5	( 10,850)		( 15,050)
Net assets		16,037		28,490
Capital and reserves
Called-up share capital		1		1
Profit and loss account		16,036		28,489
Total shareholder's funds		16,037		28,490

For the financial year ending 31 October 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Universal Sailing School Ltd (registered number: 08133961) were approved and authorised for issue by the Board of Directors on 06 April 2023. They were signed on its behalf by:

M J Warwick Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Universal Sailing School Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Universal Yachting / Universal Sailing School Mercury Yacht Harbour, Satchell Lane, Hamble, SO31 4HQ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Taxation

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Debtors

	2022		2021
	£		£
Other debtors	20,000		31,412

4. Creditors: amounts falling due within one year

	2022		2021
	£		£
Bank loans	4,200		4,200
Trade creditors	72		765
Corporation tax	0		3,538
Other creditors	2,222		2,422
	6,494		10,925

5. Creditors: amounts falling due after more than one year

	2022		2021
	£		£
Bank loans	10,850		15,050

There are no amounts included above in respect of which any security has been given by the small entity.