TPS SAILING LIMITED


Silverfin false 27/02/2022 27/02/2022 28/02/2021 F M Sterritt 09/02/2018 07 December 2022 The principal activity of the Company during the financial year was that of professional sailing and coaching. 11196785 2022-02-27 11196785 bus:Director1 2022-02-27 11196785 2021-02-27 11196785 core:CurrentFinancialInstruments 2022-02-27 11196785 core:CurrentFinancialInstruments 2021-02-27 11196785 core:ShareCapital 2022-02-27 11196785 core:ShareCapital 2021-02-27 11196785 core:RetainedEarningsAccumulatedLosses 2022-02-27 11196785 core:RetainedEarningsAccumulatedLosses 2021-02-27 11196785 core:PlantMachinery 2021-02-27 11196785 core:OfficeEquipment 2021-02-27 11196785 core:PlantMachinery 2022-02-27 11196785 core:OfficeEquipment 2022-02-27 11196785 2021-02-28 2022-02-27 11196785 bus:FullAccounts 2021-02-28 2022-02-27 11196785 bus:SmallEntities 2021-02-28 2022-02-27 11196785 bus:AuditExemptWithAccountantsReport 2021-02-28 2022-02-27 11196785 bus:PrivateLimitedCompanyLtd 2021-02-28 2022-02-27 11196785 bus:Director1 2021-02-28 2022-02-27 11196785 core:PlantMachinery 2021-02-28 2022-02-27 11196785 core:OfficeEquipment core:TopRangeValue 2021-02-28 2022-02-27 11196785 2020-02-28 2021-02-27 11196785 core:OfficeEquipment 2021-02-28 2022-02-27 iso4217:GBP xbrli:pure

Company No: 11196785 (England and Wales)

TPS SAILING LIMITED

Unaudited Financial Statements
For the financial year ended 27 February 2022
Pages for filing with the registrar

TPS SAILING LIMITED

Unaudited Financial Statements

For the financial year ended 27 February 2022

Contents

TPS SAILING LIMITED

BALANCE SHEET

As at 27 February 2022
TPS SAILING LIMITED

BALANCE SHEET (continued)

As at 27 February 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 19,568 9,727
19,568 9,727
Current assets
Debtors 4 0 16,754
Cash at bank and in hand 11,805 11,863
11,805 28,617
Creditors
Amounts falling due within one year 5 ( 50,041) ( 37,375)
Net current liabilities (38,236) (8,758)
Total assets less current liabilities (18,668) 969
Net (liabilities)/assets ( 18,668) 969
Capital and reserves
Called-up share capital 2 2
Profit and loss account ( 18,670 ) 967
Total shareholders' (deficit)/funds ( 18,668) 969

For the financial year ending 27 February 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 financial statements for the financial year 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 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 TPS Sailing Limited (registered number: 11196785) were approved and authorised for issue by the Director on 07 December 2022. They were signed on its behalf by:

F M Sterritt
Director
TPS SAILING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 27 February 2022
TPS SAILING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 27 February 2022
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

TPS Sailing Limited (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 Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated gross 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

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

2. Employees

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

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 28 February 2021 8,125 7,143 15,268
Additions 13,278 0 13,278
At 27 February 2022 21,403 7,143 28,546
Accumulated depreciation
At 28 February 2021 4,224 1,317 5,541
Charge for the financial year 2,635 802 3,437
At 27 February 2022 6,859 2,119 8,978
Net book value
At 27 February 2022 14,544 5,024 19,568
At 27 February 2021 3,901 5,826 9,727

4. Debtors

2022 2021
£ £
Trade debtors 0 16,754

5. Creditors: amounts falling due within one year

2022 2021
£ £
Other creditors 50,041 37,375