Draycote Water Sailing Club Limited - Accounts to registrar (filleted) - small 23.2.5
Draycote Water Sailing Club Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| FOR |
| DRAYCOTE WATER SAILING CLUB LIMITED |
| DRAYCOTE WATER SAILING CLUB LIMITED (REGISTERED NUMBER: 00974308) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| DRAYCOTE WATER SAILING CLUB LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 March 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Bank Gallery |
| High Street |
| Kenilworth |
| Warwickshire |
| CV8 1LY |
| DRAYCOTE WATER SAILING CLUB LIMITED (REGISTERED NUMBER: 00974308) |
| BALANCE SHEET |
| 31 March 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| RESERVES |
| Pre Incorporation surplus | 9 |
| Retained earnings | 9 |
| MEMBERS' FUNDS |
| 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 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 relating to financial statements, so far as applicable to the company. |
| DRAYCOTE WATER SAILING CLUB LIMITED (REGISTERED NUMBER: 00974308) |
| BALANCE SHEET - continued |
| 31 March 2023 |
| 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 |
| DRAYCOTE WATER SAILING CLUB LIMITED (REGISTERED NUMBER: 00974308) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2023 |
| 1. | STATUTORY INFORMATION |
| Draycote Water Sailing Club Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Improvements to property | - |
| Sailing, training and rescue equipment | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Taxation |
| Advantage is taken of the corporation tax exemptions applicable to Community Amateur Sports Clubs. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| DRAYCOTE WATER SAILING CLUB LIMITED (REGISTERED NUMBER: 00974308) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2023 |
| 4. | TANGIBLE FIXED ASSETS |
| Sailing, |
| training |
| Improvements | and |
| Long | to | rescue |
| leasehold | property | equipment |
| £ | £ | £ |
| COST |
| At 1 April 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2023 |
| DEPRECIATION |
| At 1 April 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 |
| At 31 March 2022 |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2023 |
| DEPRECIATION |
| At 1 April 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 |
| At 31 March 2022 |
| DRAYCOTE WATER SAILING CLUB LIMITED (REGISTERED NUMBER: 00974308) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2022 |
| and 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 |
| At 31 March 2022 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: Draycote Water, Kites Hardwick, Rugby, CV23 8AB |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2023 | 2022 |
| £ | £ |
| Aggregate capital and reserves | ( |
) | ( |
) |
| Loss for the year | ( |
) | ( |
) |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| After date invoice provision | 2,400 | - |
| Amounts owed by group undertakings |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Income received in advance |
| Accrued expenses |
| Deferred grants |
| DRAYCOTE WATER SAILING CLUB LIMITED (REGISTERED NUMBER: 00974308) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2023 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Deferred grants |
| 9. | RESERVES |
| Pre |
| Retained | Incorporation |
| earnings | surplus | Totals |
| £ | £ | £ |
| At 1 April 2022 | 407,633 |
| Profit for the year |
| At 31 March 2023 | 438,580 |
| 10. | CAPITAL COMMITMENTS |
| The company has received capital grants in recent years totalling £69,000 of which £24,146 (2021 £30,875) is included in creditors as deferred income. The grants have various conditions attached to them and a breach of these conditions may result in the grants becoming repayable. |
| 11. | CONTROLLING PARTY |
| The ultimate controlling party is |