Scottish Rowing - Accounts to registrar (filleted) - small 18.2

Scottish Rowing - Accounts to registrar (filleted) - small 18.2

SCOTTISH ROWING - Company Information

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IRIS Accounts Production v21.3.0.583 SC357505 Board of Directors 1.4.20 31.3.21 31.3.21 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC3575052020-03-31SC3575052021-03-31SC3575052020-04-012021-03-31SC3575052019-03-31SC3575052019-04-012020-03-31SC3575052020-03-31SC357505ns16:Scotland2020-04-012021-03-31SC357505ns15:PoundSterling2020-04-012021-03-31SC357505ns11:Director12020-04-012021-03-31SC357505ns11:CompanyLimitedByGuarantee2020-04-012021-03-31SC357505ns11:SmallEntities2020-04-012021-03-31SC357505ns11:AuditExempt-NoAccountantsReport2020-04-012021-03-31SC357505ns11:SmallCompaniesRegimeForDirectorsReport2020-04-012021-03-31SC357505ns11:SmallCompaniesRegimeForAccounts2020-04-012021-03-31SC357505ns11:FullAccounts2020-04-012021-03-31SC357505ns11:Director22020-04-012021-03-31SC357505ns11:Director32020-04-012021-03-31SC357505ns11:Director42020-04-012021-03-31SC357505ns11:Director52020-04-012021-03-31SC357505ns11:Director62020-04-012021-03-31SC357505ns11:Director82020-04-012021-03-31SC357505ns11:Director92020-04-012021-03-31SC357505ns11:RegisteredOffice2020-04-012021-03-31SC357505ns6:CurrentFinancialInstruments2021-03-31SC357505ns6:CurrentFinancialInstruments2020-03-31SC357505ns6:RetainedEarningsAccumulatedLosses2021-03-31SC357505ns6:RetainedEarningsAccumulatedLosses2020-03-31SC357505ns6:PlantMachinery2020-04-012021-03-31SC357505ns6:PlantMachinery2020-03-31SC357505ns6:PlantMachinery2021-03-31SC357505ns6:PlantMachinery2020-03-31SC357505ns6:CostValuation2020-03-31SC357505ns6:DisposalsRepaymentsInvestments2021-03-31SC357505ns6:CostValuation2021-03-31SC357505ns6:CurrentFinancialInstrumentsns6:WithinOneYear2021-03-31SC357505ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-03-31
REGISTERED NUMBER: SC357505 (Scotland)















SCOTTISH ROWING

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021





JRD LLP
11 Portland Road
Kilmarnock
KA1 2BT








SCOTTISH ROWING (REGISTERED NUMBER: SC357505)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SCOTTISH ROWING

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2021







DIRECTORS: M G Claxton
J Gill
C G Parker
A Neill
D M Roberts
E A Mitchell
S Winton
M R Taylor





REGISTERED OFFICE: Scottish Rowing Centre
Strathclyde Country Park
366 Hamilton Road
Motherwell
Lanarkshire
ML1 3ED





REGISTERED NUMBER: SC357505 (Scotland)





ACCOUNTANTS: JRD LLP
11 Portland Road
Kilmarnock
KA1 2BT
Page 1
SCOTTISH ROWING (REGISTERED NUMBER: SC357505)

BALANCE SHEET
31ST MARCH 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,022,214 1,041,838
Investments 5 - 2
1,022,214 1,041,840

CURRENT ASSETS
Debtors 6 13,519 25,821
Cash at bank 194,290 161,076
207,809 186,897
CREDITORS
Amounts falling due within one year 7 56,807 59,020
NET CURRENT ASSETS 151,002 127,877
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,173,216
1,169,717

ACCRUALS AND DEFERRED INCOME 1,023,862 1,045,847
NET ASSETS 149,354 123,870

RESERVES
Income and expenditure account 149,354 123,870
149,354 123,870

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 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 notes form part of these financial statements

Page 2 continued...
SCOTTISH ROWING (REGISTERED NUMBER: SC357505)

BALANCE SHEET - continued
31ST MARCH 2021


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 and authorised for issue on 15th September 2021 and were signed on its behalf by:





M G Claxton - Director


The notes form part of these financial statements

Page 3
SCOTTISH ROWING (REGISTERED NUMBER: SC357505)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2021


1. STATUTORY INFORMATION

Scottish Rowing is a private company, limited by guarantee , registered in Scotland. 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.

Income
Income comprises grants, invoiced income for sports related activities, licence fees and members' affiliation fees. Income is recognised when due and not when received with the exception of fees which are recognised on receipt. The company is not VAT registered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost, 15% on cost and at varying rates on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The Board has fully considered the impact of Coronavirus (COVID-19) which was given pandemic status by the WHO on 11th March 2020. Related government restrictions had affected the company's operations but the current position, while still involving a degree of uncertainty, is more positive in terms of both operational activities and ongoing future funding. Not withstanding this uncertainty, the financial statements have been prepared on a going concern basis, which assumes that the company will continue to operate for a period of 12 months from the date of approval.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 11 ) .

Page 4 continued...
SCOTTISH ROWING (REGISTERED NUMBER: SC357505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2021


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2020 1,149,198
Additions 9,377
At 31st March 2021 1,158,575
DEPRECIATION
At 1st April 2020 107,360
Charge for year 29,001
At 31st March 2021 136,361
NET BOOK VALUE
At 31st March 2021 1,022,214
At 31st March 2020 1,041,838

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st April 2020 2
Disposals (2 )
At 31st March 2021 -
NET BOOK VALUE
At 31st March 2021 -
At 31st March 2020 2

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 3,513 5,437
Amounts owed by group undertakings - 13,326
Other debtors 10,006 7,058
13,519 25,821

Page 5 continued...
SCOTTISH ROWING (REGISTERED NUMBER: SC357505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2021


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 35,304 43,526
Taxation and social security 6,079 4,675
Other creditors 15,424 10,819
56,807 59,020

8. RELATED PARTY DISCLOSURES

Amounts owed by group undertakings per the 2020 comparative figures represented balances due by Scottish Rowing Centre Ltd. The remaining balance not supported by cash funds held, which were transferred during the year, was written off with the consent of the Board.

The related land is owned by North Lanarkshire Council and a formal lease with Scottish Rowing is currently being negotiated. Once completed, the tenant's interest in the lease will be externally valued at a fair value and an appropriate depreciation policy established. The spend transferred from the subsidiary company (noted above) has been initially depreciated down to £951,787 which matches the underlying funding which is held in deferred income. This will in future be released in line with the depreciation of the related costs.

Page 6