TALL SHIPS RACES (EUROPE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
Tall Ships Races (Europe) Limited is a private company limited by share capital and incorporated in England and Wales. The address of the registered office is Charles House, Gosport Marina, Mumby Road, Gosport, Hampshire, PO12 1AH.
2.
Accounting policies
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Short term debtors and creditors are measured at the transaction price. Other financial instruments, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
|
|
|
|
|
Amounts owed by group undertakings
|
|
|
|
|
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
1
(2018 -
1
)
Ordinary share capital share of £
1.00
|
|
|
The Company is a wholly owned subsidiary of Sail Training International.
Sail Training International is a company registered in England and Wales and a charity registered with the Charities Commission. The financial statements for the parent are available from Charles House, Gosport Marina, Mumby Road, Gosport, Hampshire, PO12 1AH.
Page 1
|