Charity registratlon number.. NIC106339 ht nt Contents Pago Charity Reference and Administrative Details Report of the Directors Independent Examiner's Report Abridged Income and Expenditure Account Abridged Balance Sheet Notes to the Abridged Financial Statements Detailed Income and Expenditure Account Charity roOstralion numbeT NIC106339 Trustees MrRobertJohn Salvidge Mrjohn Murphy MsAngela Wilson Mr Myrddin James (Resigned 5th March 20241 Mr David Knox (Resigned 12th July 20241 Contact Address Enterprise House Win Business Park Can81 Court Newry Co Down BT35 6PH Independent Examiner WHRAccountant8 Ltd 56 Upper English St. Armagh BT61 7LG B£poLOfthe￿It££tQ[S The directors present their report and the financial statements of the chsrityforthe year ended 28 February 2025. Directors The trustees who have served during the year and since the year end were as follows: Mr Robertjohn Salvidge Mrjohn Murphy Ms Angela Wilson Other changes in directors holding office are as follows- Mrmyrddinjames (Resigned 5th March 20241 Mr David Knox IResigned 12th July 20241 This repon has been prepared in 8ccordance with the provisions of Part 15 of the Companies Act 2006 relatingto small companies Signed on behalf of the board J Murphy- Director Sifve ht Sailin Inde ndent Examlners Re rt to the Trustees of Silve Li t Sallln I report to the trustees on my examination of the accounts of Silvery Llght Sailing for the year ended 29 February 2025. Respertlve responsibilities of trustees #nd examlner: As the tharity's trustees you are responsible for the preparatlon of the accounts in 8ccordante with the requirements of the Charlties Act (Northern Irelandl 2008. It is my responslblllty to: Examine the accounts under 5ertion 65 of the Charities ACL Follow the procedures laid down in the general Directions given by the Commission under section 6519llbl ol the Charities Act. State whether particular matters have come to my attention. Basls of Independent examinerfs report I have examined your charity accounts as required under section 65 of the Charities Act and my examinatlon was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 6519llbl of the Charitie5 Att. My examinatlon Included a revlew of the accounting records kept by the charity and a comparison of the accounts presented with those record5. It a150 included consideration of any unusual Items or disclosures in the accounts, and seeking explanations from you as charlty trustees concernlng any such matters. My role is to state whether any material matters have come to my attentlon giving me cause to believe: That accounting records were not kept in accordance with sectlon 63 of Charities Act. That the actounts do not accord with those accounting record5. That the accounts do not comply with the atcountlng requirements of the Charities Act. That there is further inform?tlon needed for a proper understandin8 of the account5 to be reached. Independent examinerfs statement I have completed my examination and have no concerns in respect of the matters111 to141 Ilsted above and, in connettion with following the Directions of the Charity Commissiorh for Northern Ireland, I have found no matters that require drawing to your attention. thJ Andrew Gilpin WHR Accountants Chartered Certified Accountants 56 Upper English Street Armagh BT617LG 02 Dec 2025 Date- 02 December 2025 Silve ht Sailin Re Istered number: N1636535 Abrid ed Income and Ex enditure Account statement for the Year Ended 28 Februar 2025 28.2.25 29.2.24 Notes GROSS PROFIT 16.544 12,587 Administratlve Èxpenses 173.531 139,067 OPERATING LOSS Deficit on disposal of fixed assets Tax on105S 1156.9871 1345} {126,4801 LOSS FOR THE FINANCIAt YEAR 157,3321 126,4801 silve li ht SailÉn Re istered number: N1636535 Abrid ed 8alance Sheet 28 Febwa 2025 28.2.25 29.2.24 Notes FIXED ASS￿5 Tangible assets 221,893 260,923 CURRENT ASSETS C85h at bank 2.247 2,247 CREOITORS Amounts falling due wilhin one year 105,755 146,057 NET CVRRENY (LIA8IUTIESIIASSETS 105,7551 1144,4101 TOTAL ASSETS LESS CURRENT UABIIITIES 116,138 116.513 CREDITORS Amounts falling due after rnore than one year 156 958 NET ILIA8ILITIESIIASSEtS 116 S13 RESERVES Retained eamings 40.820 116.513 40,8201 116,513 The company Is entitled to exemption from audit under Section 477 of the Companles Act 2006 fof the year en(le(128 February 2025. The members hav6 not required th8 company to obtain an audit of its financial statements for the year ended 28 February2025 in accord8n¢e with Seclion476 ofthe CompaniesAct2006. The dlrectors acknowledge their responsibilities for: lal ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and Ibl preparing financial stetements which give a true and fairview of the state of affairs of the company 8s 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 releting to financi81 statemenis, so far 8$ applicable to the company. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. All the members have consented to the preparation of an abridged Incorne Statement and an abridged Balance Sheet for the year ended 28 February 2025 in accordance with Section 44412AI of the Companies Act2006, The financial statements were approved bythe Board of Directors and authorised for issue on 16 October 2025 and were signed on its behalf by- Mrjohn Murphy Director Silvery LigtiLS 1. General Information Silvery Light Sailing is a private company. limited by guarantee, incorporated in Northern Ire18nd, registered number N1636535, The registered office is Enterprise House. Win Business Park. C8n81 Quay. Newry. Co. Down, BT35 6PH. 2. Accountlng Pollcle8 2.1. Basi$ of Preparation of Financlal Ststemonts The financial statements have been prepared under the historical cost convention and in accordance with Financial Reportingstandard 102 section 1A Small Entities Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" and the CompaniesAct2006. 2.2. Turnover Turnovei is measured at the fair value ot the consider8tion received 01 iecetvable, net of discounts and value added taxes. Turnover includes revenue earned fromthe sale of goods and fromthe renderingof services. Turnover is reduced for estimated customer returns. rebates and other similar allowances. Sats of goods Turnover from the sale of goods is recognise(J when the significant risks and rewards of ownership of the goods has transferred to the buyer. This 1$ usually atthe point that the customer has signed forthe delivery of the goods. Rendering of servlces Turnoverfrom the rendering of services is recognised by reference tothe stage of completion of the contr8ct. The siage of completion of a conlract is measured by comparing the costs incurred for work performed to date to the total estimated contract Costs. Turnover is only re¢ognised to the extent of recoverable expenses when the outcome of a Contract cannot be estimated reliably. 2.3. Tangible Flxed Assets and Depreclatlon Tanwble fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreclation is provided at rates calculated lowrite off the cost of the fixed assets. less theirestimated residualvalue, over their expected useful lives on the following bases: PLant& Machinery 20% reducing balance Fixtures & Fitting8 2096 reducing balance 3. Average Number of Employeas Average number of employees. including directors. duringthe yearwas- 3 (2024: 31 4. Tangible Assets Total Cost As 8t 1 March 2024 308.751 Dispos81s 11,3141 As at28 February2025 307.437 Depro¢latlon As at 1 March 2024 Provided during the period Disposals 47.828 38.599 18831 As * 28 February 2025 85.544 Net Bookvalue As8t 28 February2025 221.893 Asat 1 March2024 260,923 ru 5. Company Ilmlted by guarantee The company is limited byguarantee and has no share c8Pltal. Every member ofthe company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as maybe required not exceeding£1. 2025 2W24 TURNOVER Sales 44.572 30,302 COST OF SALES Other direct ¢ostg 28,028 17,714 128.0281 117.7141 GROSS SURPLUS 16,544 12,588 Administrative Expenses Wages and satarie8 Employers p8nsions scheme 61,862 56.950 defined ¢ontributions 1,974 792 Rent 3,349 Light and heat Hire and leasing of plant, equipment an(J vehicles Repairs, renewals and maintenance Insurance 160 1,320 37,343 9.797 9.947 10,892 Advertising and marketing costs Training seminars and workshops Telecommunications and data ¢osts Accountancyfees Legal fees Consultancyfees Subscriptions Bank charges Depreciation Sundryexpense5 2,327 1.200 60 681 377 1.014 5.944 13.633 1.958 352 414 38.685 46.458 4.973 98 1173,5311 1139,0691 OPERATING DEFICIT (156.98 1126,4811 Deficit on disposal of Intangible fixed assets 13451 13451 DEFICITFOR THE FINANCIAL YEAR 1157,3321 1126.4811 ## **Issuer** WHR Accountants Ltd **Document generated** Fri, 5th Dec 2025 13:45:07 GMT **Document fingerprint** 34ba25cfd83c2d2148a0148a0a0ba673 ## **Parties involved with this document** ## **Document processed** ## **Party + Fingerprint** Fri, 5th Dec 2025 15:10:07 GMT Fri, 5th Dec 2025 15:10:08 GMT Mr John Murphy - Signer (94925a1ea59e0be7fcada0d5c999ec35) Marian Rafferty - Copied In (ba6256766761b7e76b161401e1388c82) ## **Audit history log** ## **Date** ## **Action** Fri, 5th Dec 2025 13:45:07 GMT Fri, 5th Dec 2025 13:45:07 GMT Fri, 5th Dec 2025 13:45:07 GMT Fri, 5th Dec 2025 13:45:07 GMT Fri, 5th Dec 2025 13:45:07 GMT Fri, 5th Dec 2025 13:45:16 GMT Fri, 5th Dec 2025 13:45:16 GMT Fri, 5th Dec 2025 13:45:17 GMT Fri, 5th Dec 2025 15:08:50 GMT Fri, 5th Dec 2025 15:09:01 GMT Fri, 5th Dec 2025 15:10:08 GMT Fri, 5th Dec 2025 15:10:08 GMT Fri, 5th Dec 2025 15:10:08 GMT Fri, 5th Dec 2025 15:10:08 GMT Fri, 5th Dec 2025 15:10:08 GMT Fri, 5th Dec 2025 15:10:08 GMT Envelope generated with fingerprint c18d5103ab7476511a46a1d7315ce977 (35.176.231.177) Document generated with fingerprint 34ba25cfd83c2d2148a0148a0a0ba673. (35.176.231.177) Mr John Murphy has been assigned to this envelope. (35.176.231.177) Marian Rafferty has been assigned to this envelope. (35.176.231.177) Envelope has been set to automatically remind the active signer every 2 day(s). (35.176.231.177) Envelope generated Sent the envelope to Mr John Murphy for signing Document emailed to party email Mr John Murphy viewed the envelope (51.186.190.212) Mr John Murphy viewed the envelope (72.145.76.10) Mr John Murphy signed the envelope (51.186.190.212) Sent the envelope to Marian Rafferty for signing (51.186.190.212) This envelope has been signed by all parties (51.186.190.212) Signed document confirmation emailed to party email (51.186.190.212) Signed document confirmation emailed to party email (51.186.190.212) Signed document confirmation emails have been sent to all parties. Document URL: https://api.signableapi.com/shareable/envelope?t=dcf3b0d9-a676-44b9-bd 4f-c7ef21bc5bb4 (51.186.190.212) Fri, 5th Dec 2025 15:10:08 GMT Document emailed to party email