Yacht Sales Limited - Accounts

YACHT SALES LIMITED - Company Information

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Registered Number: 08567922

England and Wales

YACHT SALES LIMITED

Unaudited Financial Statements

Period of accounts

Start date: 01 September 2021

End date: 31 August 2022

Yacht Sales Limited
Contents Page
For the year ended 31 August 2022

Company information	1
Accountants' report	2
Statement of financial position	3
Notes to the financial statements	4

Yacht Sales Limited
Company Information
For the year ended 31 August 2022

Director	Matthew Greig Shave
Registered Number	08567922
Registered Office	21 Waterfront Brighton Marina Village Brighton BN2 5WA
Accountants	Worth Knowing Accountants Ltd S14, 22-25 Portman Close London W1H 6BS

Yacht Sales Limited Accountants' Report For the year ended 31 August 2022
Accountant’s report You consider that the company is exempt from an audit for the year ended 31 August 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. Worth Knowing Accountants Ltd 31 August 2022 .................................................... Worth Knowing Accountants Ltd S14, 22-25 Portman Close London W1H 6BS 15 June 2023 2

Yacht Sales Limited
Accountants' Report
For the year ended 31 August 2022

Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 August 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Worth Knowing Accountants Ltd
31 August 2022

....................................................
Worth Knowing Accountants Ltd
S14, 22-25 Portman Close

London
W1H 6BS
15 June 2023

Yacht Sales Limited
Statement of Financial Position
As at 31 August 2022

	Notes	2022 £	2021 £
Fixed assets
Intangible fixed assets	3	0	16,500
		0	16,500
Current assets
Stocks	5	300,000	0
Debtors	6	319,554	417,676
Cash at bank and in hand		103,301	37,607
		722,855	455,283
Creditors: amount falling due within one year	7	(886,920)	(594,199)
Net current liabilities		(164,065)	(138,916)

Total assets less current liabilities		(164,065)	(122,416)
Net liabilities		(164,065)	(122,416)

Capital and reserves
Called up share capital		105	105
Profit and loss account		(164,170)	(122,521)
Shareholder's funds		(164,065)	(122,416)

For the year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the director on 15 June 2023 and were signed by:

Matthew Greig Shave
Director

Yacht Sales Limited
Notes to the Financial Statements
For the year ended 31 August 2022

General Information

Yacht Sales Limited is a private company, limited by shares, registered in England and Wales, registration number 08567922, registration address 21 Waterfront, Brighton Marina Village, Brighton, BN2 5WA.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

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)

Group accounts

The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.

Government grants

Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.

Operating lease rentals

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Research and development expenditure

Research and development expenditure is charged to the income statement in the period in which it is incurred.

Preference dividends

Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.

Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.

2.	Average number of employees Average number of employees during the year was 4 (2021 : 2).

Intangible fixed assets

Cost	Goodwill	Total
	£	£
At 01 September 2021	150,000	150,000
Additions	-	-
Disposals	-	-
At 31 August 2022	150,000	150,000
Amortisation
At 01 September 2021	133,500	133,500
Charge for year	16,500	16,500
On disposals	-	-
At 31 August 2022	150,000	150,000
Net book values
At 31 August 2022	-	-
At 31 August 2021	16,500	16,500

Tangible fixed assets

Cost or valuation	Computer Equipment	Total
	£	£
At 01 September 2021	808	808
Additions	-	-
Disposals	-	-
At 31 August 2022	808	808
Depreciation
At 01 September 2021	808	808
Charge for year	-	-
On disposals	-	-
At 31 August 2022	808	808
Net book values
Closing balance as at 31 August 2022	-	-
Opening balance as at 01 September 2021	-	-

Stocks

	2022 £		2021 £
Stocks	300,000		0
	300,000		0

Debtors: amounts falling due within one year

	2022 £	2021 £
Trade Debtors	93,852	167,129
Ancasta Palma Shareholding	100,000	100,000
Other Debtors	125,647	144,803
Share Allot. money receivable	55	55
Corporation tax recoverable assets	0	5,689
	319,554	417,676

Creditors: amount falling due within one year

	2022 £	2021 £
Trade Creditors	67,294	18,291
Bank Loans & Overdrafts	38,070	47,338
Mad Capital Loan	201,500	0
PAYE & Social Security	44,707	29,985
Accrued Expenses	750	750
Selected Options Ltd	316,151	394,651
AIBS YSL	20,565	38,792
Pensions control accounts	5,409	5,438
Wages & Salaries Control Account	(58)	0
Directors' Current Accounts	134,042	30,913
VAT	58,490	28,041
	886,920	594,199