The Carsington Sailing Club Limited - Period Ending 2013-12-31

Registration number: 02513618

The Carsington Sailing Club Limited

(A company limited by guarantee)

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

The Carsington Sailing Club Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Carsington Sailing Club Limited
for the Year Ended 31 December 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Carsington Sailing Club Limited for the year ended 31 December 2013 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of The Carsington Sailing Club Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Carsington Sailing Club Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Carsington Sailing Club Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Carsington Sailing Club Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of The Carsington Sailing Club Limited. You consider that The Carsington Sailing Club Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Carsington Sailing Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

22 May 2014

Page 1

The Carsington Sailing Club Limited
(Registration number: 02513618)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets		2			170,001			174,683
Current assets
Stocks					990			1,085
Debtors					6,643			1,183
Cash at bank and in hand					84,234			91,161
					91,867			93,429
Creditors: Amounts falling due within one year					(41,783)			(47,958)
Net current assets					50,084			45,471
Net assets					220,085			220,154
Capital and reserves
Profit and loss account					220,085			220,154
Shareholders' funds					220,085			220,154

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

The Carsington Sailing Club Limited
(Registration number: 02513618)
Abbreviated Balance Sheet at 31 December 2013
......... continued

For the year ending 31 December 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved and authorised for issue by the Board on 22 May 2014 and signed on its behalf by:

.........................................
M D Coultas
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

The Carsington Sailing Club Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable in respect of membership subscriptions, berth fees etc and the sale of goods and services to customers.

Other grants

Grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss account over the expected useful lives of the assets concerned. Other grants are credited to the profit and loss account as the related expenditure is incurred.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

The rates of depreciation have been altered to a straight line basis for all assets to better reflect the useful economic life of the assets, The resulting change in depreciation method used has not had a material effect on the charge for the year.

Asset class	Depreciation method and rate
Land and buildings	6.25%, 12.5% and 20% straight line basis
Plant and machinery	12.5% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 4

The Carsington Sailing Club Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2013		595,260			595,260
Additions		33,493			33,493
At 31 December 2013		628,753			628,753
Depreciation
At 1 January 2013		420,577			420,577
Charge for the year		38,175			38,175
At 31 December 2013		458,752			458,752
Net book value
At 31 December 2013		170,001			170,001
At 31 December 2012		174,683			174,683

3	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding (not exceeding the Annual Subscription per member of the Company for the time being) to the Company's assets if it should be wound up while he is a member or within one year after he ceases to be a member, for payments for the Company's debts and liabilities contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of contributories among themselves.

4

Control

The company is controlled by the committee.

Page 5