Waveney & Oulton Broad Yacht Club Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01534009 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2018

FOR

WAVENEY AND OULTON BROAD

YACHT CLUB LIMITED

(A COMPANY LIMITED BY GUARANTEE)

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N Calver

Mr I R Colby

Mr J C Wells

Mr D P Gooch

Mr S Thomas

SECRETARY:

Mr J C Wells

REGISTERED OFFICE:

Hazel Grove

Loddon Road

Toft Monks

Beccles

Norfolk

NR34 0EU

REGISTERED NUMBER:

01534009 (England and Wales)

ACCOUNTANTS:

Sexty & Co

124 Thorpe Road

Norwich

Norfolk

NR1 1RS

FIXED ASSETS

Tangible assets

4

60,220

65,659

CURRENT ASSETS

Stocks

2,516

2,198

Debtors

5

497

1,948

Cash at bank and in hand

168,885

147,409

171,898

151,555

CREDITORS

Amounts falling due within one year

6

8,979

4,960

NET CURRENT ASSETS

162,919

146,595

TOTAL ASSETS LESS CURRENT LIABILITIES

223,139

212,254

ACCRUALS AND DEFERRED INCOME

8

46,480

50,179

NET ASSETS

176,659

162,075

RESERVES

Jetty Fund

9

69,000

69,000

Income and expenditure account

9

107,659

93,075

176,659

162,075

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 surplus or deficit 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 26 December 2018 and were signed on its behalf by:

Mr S Thomas - Director

1.	STATUTORY INFORMATION

Waveney and Oulton Broad Yacht Club Limited (A company limited by guarantee) is a private company, limited by guarantee

, registered in England and Wales. The company's registered number

and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the income derived from sales and services provided during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

5% on cost

Jetties

-

5% on cost

Fixtures & fittings

-

12% on reducing balance

Boats & outboard motors

-

20% on reducing balance

Crane

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the

period of the lease.

Government grants

Government grants in respect of capital expenditure are treated as deferred income and are credited

to the income and expenditure account over the estimated useful life of the assets to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2017

and 30 September 2018

67,824

129,759

197,583

DEPRECIATION

At 1 October 2017

13,475

118,449

131,924

Charge for year

3,391

2,048

5,439

At 30 September 2018

16,866

120,497

137,363

NET BOOK VALUE

At 30 September 2018

50,958

9,262

60,220

At 30 September 2017

54,349

11,310

65,659

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

497

1,948

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

148

83

Other creditors

8,831

4,877

8,979

4,960

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

In more than five years

5,448

5,379

The operating lease payments are committed to be paid within one year.

8.	ACCRUALS AND DEFERRED INCOME

Government grants

2018

2017

£

£

Received and receivable:

At 1 October 2017

and 30 September 2018

128,274

128,274

Amortisation:

At 1 October 2017

78,095

71,281

Credit to Income and Expenditure Account

3,699

6,814

At 30 September 2018

81,794

78,095

Net balance at 30 September 2018

46,480

50,179

9.

RESERVES

Jetty

Fund

£

At 1 October 2017

and 30 September 2018

69,000

The monies accumulated in the above jetty fund are held in the company's deposit account with

Manchester Building Society and is separate from the HSBC and NatWest current accounts used for

the day to day business of running the sailing club.

10.	LEGAL STATUS

The company is limited by guarantee not having a share capital. This means that in the event of the

company being wound up, each member guarantees to contribute to the company a maximum sum of

£5 for payment of the debts and liabilities.