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 2019

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

55,164

60,220

CURRENT ASSETS

Stocks

2,366

2,516

Debtors

5

4,518

497

Cash at bank and in hand

175,945

168,885

182,829

171,898

CREDITORS

Amounts falling due within one year

6

9,054

8,979

NET CURRENT ASSETS

173,775

162,919

TOTAL ASSETS LESS CURRENT LIABILITIES

228,939

223,139

ACCRUALS AND DEFERRED INCOME

8

42,944

46,480

NET ASSETS

185,995

176,659

RESERVES

Jetty Fund

9

69,000

69,000

Income and expenditure account

9

116,995

107,659

185,995

176,659

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 applicable to companies subject to the small companies regime.

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 24 March 2020 and were signed on its behalf by:

Mr S Thomas - Director

1.	STATUTORY INFORMATION

Waveney and Oulton Broad Yacht Club Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2018

and 30 September 2019

67,824

129,759

197,583

DEPRECIATION

At 1 October 2018

16,866

120,497

137,363

Charge for year

3,391

1,665

5,056

At 30 September 2019

20,257

122,162

142,419

NET BOOK VALUE

At 30 September 2019

47,567

7,597

55,164

At 30 September 2018

50,958

9,262

60,220

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

4,000

-

Other debtors

518

497

4,518

497

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

220

148

Other creditors

8,834

8,831

9,054

8,979

7.	LEASING AGREEMENTS

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

2019

2018

£

£

In more than five years

5,568

5,448

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

8.	ACCRUALS AND DEFERRED INCOME

Government grants

2019

2018

£

£

Received and receivable:

At 1 October 2018

and 30 September 2019

128,274

128,274

Amortisation:

At 1 October 2018

81,794

78,095

Credit to Income and Expenditure Account

3,536

3,699

At 30 September 2019

85,330

81,794

Net balance at 30 September 2019

42,944

46,480

9.

RESERVES

Jetty

Fund

£

At 1 October 2018

and 30 September 2019

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.