| Marenato Yachting Ltd |
| Registered number: |
11266422 |
| Statement of Financial Position |
| as at 31 March 2020 |
|
| Notes |
|
|
2020 |
|
|
2019 |
| € |
€ |
| Fixed assets |
| Tangible assets |
3 |
|
|
752,110 |
|
|
513,000 |
|
| Creditors: amounts falling due within one year |
4 |
|
(1,076,601) |
|
|
(673,414) |
|
| Net current liabilities |
|
|
|
(1,076,601) |
|
|
(673,414) |
|
| Net liabilities |
|
|
|
(324,491) |
|
|
(160,414) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
500 |
|
|
500 |
| Profit and loss account |
|
|
|
(324,991) |
|
|
(160,914) |
|
| Shareholders' funds |
|
|
|
(324,491) |
|
|
(160,414) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| I Khrais |
| Director |
| Approved by the board on 28 May 2020 |
|
| Marenato Yachting Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2020 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
|
|
|
Going concern |
|
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the beneficial owner of the company is funding the company in the form of a loan. The beneficial owner is planning to continue this financial support for the company for the foreseeable future.
|
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
10% reducing balance |
|
|
Creditors |
|
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
| 2 |
Employees |
2020 |
|
2019 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| € |
|
Cost |
|
At 1 April 2019 |
570,000 |
|
Additions |
329,011 |
|
At 31 March 2020 |
899,011 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2019 |
57,000 |
|
Charge for the year |
89,901 |
|
At 31 March 2020 |
146,901 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2020 |
752,110 |
|
At 31 March 2019 |
513,000 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
| € |
€ |
|
|
Trade creditors |
131 |
|
- |
|
Other creditors |
1,076,470 |
|
673,414 |
|
|
|
|
|
|
1,076,601 |
|
673,414 |
|
|
|
|
|
|
|
|
|
| 5 |
Other information |
|
|
Marenato Yachting Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
4 The Mews |
|
Bridge Road |
|
Twickenham |
|
TW1 1RF |
