REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 28 February 2022 |
|
for |
|
World Yacht Trading Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 28 February 2022 |
|
for |
|
World Yacht Trading Limited |
World Yacht Trading Limited (Registered number: 04169872) |
|
Contents of the Financial Statements |
for the Year Ended 28 February 2022 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
World Yacht Trading Limited |
|
Company Information |
for the Year Ended 28 February 2022 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Monomark House |
27 Old Gloucester Street |
London |
WC1N 3AX |
World Yacht Trading Limited (Registered number: 04169872) |
|
Balance Sheet |
28 February 2022 |
|
2022 | 2021 |
Notes | € | € | € | € |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
) |
( |
) |
|
CAPITAL AND RESERVES |
Called up share capital | 7 |
|
|
Revaluation reserve | 8 |
|
|
Retained earnings | 8 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
|
|
|
|
|
The director acknowledges his 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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
|
|
|
|
|
|
|
|
World Yacht Trading Limited (Registered number: 04169872) |
|
Notes to the Financial Statements |
for the Year Ended 28 February 2022 |
|
|
1. | STATUTORY INFORMATION |
|
World Yacht Trading Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Tangible fixed assets |
|
Plant and machinery etc | - |
|
|
Foreign currencies |
Assets and liabilities in foreign currencies, with the exception of share capital, are translated into euros at the rates of exchange ruling at the Balance Sheet date. Share capital is translated at the historical rate. Transactions in foreign currencies are translated into euros at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
|
Going concern |
The financial statements have been prepared on a going concern basis notwithstanding the excess of liabilities over assets as the director believes the shareholders will continue to make adequate funds available to enable the company to meet its liabilities as and when they fall due. The director has no reason to believe that financial support will not continue in the future and considered it appropriate to adopt a going concern basis. The accounts do not contain any adjustments that would be necessary should this basis not be appropriate. |
|
Expenditure |
During the year under review and the preceding financial period certain items of expenditure in connection with the maintenance of the yacht were paid on its behalf by the beneficial owner, who the director believes will not seek reimbursement thereof. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was NIL (2021 - NIL). |
World Yacht Trading Limited (Registered number: 04169872) |
|
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
€ |
COST OR VALUATION |
At 1 March 2021 |
and 28 February 2022 |
|
DEPRECIATION |
At 1 March 2021 |
|
Charge for year |
|
At 28 February 2022 |
|
NET BOOK VALUE |
At 28 February 2022 |
|
At 28 February 2021 |
|
|
The yacht is being depreciated over twenty years to a residual value of €50,000, which is the estimated scrap value for the yacht at the end of its useful life. |
|
Cost or valuation at 28 February 2022 is represented by: |
|
Plant and |
machinery |
etc |
€ |
Valuation in 2008 | 485,000 |
Valuation in 2016 | 350,000 |
Valuation in 2019 | (197,500 | ) |
637,500 |
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
€ | € |
Prepayments |
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
€ | € |
Trade creditors |
|
|
Director loan | 523,703 | 520,985 |
Accruals |
|
|
|
|
|
The loan from the director is unsecured, interest-free and without a specified repayment date. |
World Yacht Trading Limited (Registered number: 04169872) |
|
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
|
|
7. | CALLED UP SHARE CAPITAL |
|
Allotted and issued: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | € | € |
|
Ordinary | £1 | 1,579 | 1,579 |
|
8. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
€ | € | € |
|
At 1 March 2021 | ( |
) |
|
(385,192 | ) |
Deficit for the year | ( |
) | ( |
) |
At 28 February 2022 | ( |
) |
|
(394,315 | ) |
|
9. | RELATED PARTY DISCLOSURES |
|
No transactions with related parties were undertaken such as are required to be disclosed under Section 1A "Small Entities" of Financial Reporting Standard 102, other than loan from the director, Mr G Gkinosatis, of €523,703 (2021: €520,985). |
|
10. | POST BALANCE SHEET EVENTS |
|
The effect of events relating to the year ended 28 February 2022, which occurred before the date of approval of the financial statements by the director, have been included to the extent required to show a true and fair view of the state of affairs at 28 February 2022 and of the results of the year ended on that date. |