Waveney & Oulton Broad Yacht Club Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 01534009 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

FOR

WAVENEY AND OULTON BROAD

YACHT CLUB LIMITED

(A COMPANY LIMITED BY GUARANTEE)

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

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

2

86,741

95,761

CURRENT ASSETS

Stocks

2,413

3,209

Debtors

490

427

Cash at bank and in hand

140,543

136,671

143,446

140,307

CREDITORS

Amounts falling due within one year

4,235

4,292

NET CURRENT ASSETS

139,211

136,015

TOTAL ASSETS LESS CURRENT LIABILITIES

225,952

231,776

ACCRUALS AND DEFERRED INCOME

64,064

71,455

NET ASSETS

161,888

160,321

RESERVES

Jetty Fund

69,000

57,000

Income and expenditure account

92,888

103,321

161,888

160,321

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 November 2015 and were signed on its behalf by:

Mr S Thomas - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

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 the income and expenditure account 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

226,100

Additions

2,445

Disposals

(28,462

)

At 30 September 2015

200,083

DEPRECIATION

At 1 October 2014

130,339

Charge for year

11,465

Eliminated on disposal

(28,462

)

At 30 September 2015

113,342

NET BOOK VALUE

At 30 September 2015

86,741

At 30 September 2014

95,761

3.	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.