Salcombe Yacht Club (2017) Limited 10627328 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is that of the continued provision and support of sailing activities. These activities include the organisation of racing, cruising and cadet training together with associated supporting services that include changing rooms and showers, bars and catering services. Sailing events are organised together with social activities to benefit all members on and off the water. Digita Accounts Production Advanced 6.30.9574.0 true true 10627328 2021-01-01 2021-12-31 10627328 2021-12-31 10627328 core:CurrentFinancialInstruments 2021-12-31 10627328 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 10627328 bus:SmallEntities 2021-01-01 2021-12-31 10627328 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 10627328 bus:FullAccounts 2021-01-01 2021-12-31 10627328 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 10627328 bus:RegisteredOffice 2021-01-01 2021-12-31 10627328 bus:Director8 2021-01-01 2021-12-31 10627328 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 10627328 countries:AllCountries 2021-01-01 2021-12-31 10627328 2020-01-01 2020-12-31 10627328 2020-12-31 10627328 core:CurrentFinancialInstruments 2020-12-31 10627328 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 iso4217:GBP xbrli:pure

Salcombe Yacht Club (2017) Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 December 2021

Registration number: 10627328

 

Salcombe Yacht Club (2017) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Salcombe Yacht Club (2017) Limited

Balance Sheet

31 December 2021

Note

2021
£

2020
£

Current assets

 

Stocks

4

6,715

5,444

Debtors

5

60,893

52,184

Cash at bank and in hand

 

169,083

115,246

 

236,691

172,874

Creditors: Amounts falling due within one year

6

(161,582)

(148,406)

Net assets

 

75,109

24,468

Capital and reserves

 

Called up share capital

2

2

Other reserves

3,833

3,141

Profit and loss account

71,274

21,325

Shareholders' funds

 

75,109

24,468

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 4 August 2022 and signed on its behalf by:
 

...................................
Mr C Cameron
Director

   
     

Company Registration Number: 10627328

 

Salcombe Yacht Club (2017) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cliff House
Cliff Road
Salcombe
Devon
England
TQ8 8JQ

These financial statements were authorised for issue by the Board on 4 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

 

Salcombe Yacht Club (2017) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2021

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2020 - 12).

4

Stocks

2021
£

2020
£

Other inventories

6,715

5,444

 

Salcombe Yacht Club (2017) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2021

5

Debtors

2021
£

2020
£

Trade debtors

 

-

-

Amounts owed by group undertakings

37,830

42,575

Prepayments

 

17,487

8,275

Other debtors

 

5,576

1,334

 

60,893

52,184

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Trade creditors

3,125

1,918

Amounts owed to group undertakings

49,166

49,168

Taxation and social security

2,536

12,981

Other creditors

20

770

Accruals and deferred income

106,735

83,569

161,582

148,406