Salcombe Yacht Club Company Limited 00163711 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is The principal activity of the company is that of a holding company owning property and other assets. Digita Accounts Production Advanced 6.30.9574.0 true true false 00163711 2021-01-01 2021-12-31 00163711 2021-12-31 00163711 core:RetainedEarningsAccumulatedLosses 2021-12-31 00163711 core:RevaluationReserve 2021-12-31 00163711 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 00163711 core:AdditionsToInvestments 2021-12-31 00163711 core:FurnitureFittingsToolsEquipment 2021-12-31 00163711 core:LandBuildings 2021-12-31 00163711 core:MotorVehicles 2021-12-31 00163711 core:OtherPropertyPlantEquipment 2021-12-31 00163711 bus:SmallEntities 2021-01-01 2021-12-31 00163711 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 00163711 bus:FullAccounts 2021-01-01 2021-12-31 00163711 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 00163711 bus:RegisteredOffice 2021-01-01 2021-12-31 00163711 bus:Director17 2021-01-01 2021-12-31 00163711 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 00163711 core:Buildings 2021-01-01 2021-12-31 00163711 core:FurnitureFittings 2021-01-01 2021-12-31 00163711 core:FurnitureFittingsToolsEquipment 2021-01-01 2021-12-31 00163711 core:Land 2021-01-01 2021-12-31 00163711 core:LandBuildings 2021-01-01 2021-12-31 00163711 core:MotorVehicles 2021-01-01 2021-12-31 00163711 core:OtherPropertyPlantEquipment 2021-01-01 2021-12-31 00163711 countries:AllCountries 2021-01-01 2021-12-31 00163711 2020-12-31 00163711 core:FurnitureFittingsToolsEquipment 2020-12-31 00163711 core:LandBuildings 2020-12-31 00163711 core:MotorVehicles 2020-12-31 00163711 core:OtherPropertyPlantEquipment 2020-12-31 00163711 2020-01-01 2020-12-31 00163711 2020-12-31 00163711 core:RetainedEarningsAccumulatedLosses 2020-12-31 00163711 core:RevaluationReserve 2020-12-31 00163711 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 00163711 core:FurnitureFittingsToolsEquipment 2020-12-31 00163711 core:LandBuildings 2020-12-31 00163711 core:MotorVehicles 2020-12-31 00163711 core:OtherPropertyPlantEquipment 2020-12-31 iso4217:GBP xbrli:pure

Salcombe Yacht Club Company Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 December 2021

Registration number: 00163711

 

Salcombe Yacht Club Company Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Salcombe Yacht Club Company Limited

Balance Sheet

31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

246,740

244,609

Investments

5

2

2

 

246,742

244,611

Creditors: Amounts falling due within one year

6

(71,276)

(76,021)

Net assets

 

175,466

168,590

Capital and reserves

 

Fair value reserve

190,078

192,058

Profit and loss account

(14,612)

(23,468)

Shareholders' funds

 

175,466

168,590

 

Salcombe Yacht Club Company Limited

Balance Sheet

31 December 2021

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: 00163711

 

Salcombe Yacht Club Company 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

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.

In applying the requirements of FRS102 the directors have early adopted the Triennial Review 2017 amendments, otherwise effective for accounting periods commencing on or after 1 January 2019. In accordance with 1.17 of the standard the amendments arising have been adopted in their entirety.

The preparation of financial statements in conformity with FRS102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are outlined later in this note.

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 represents rental income, excluding Value Added Tax. Revenue is recognised in the month to which it relates.

 

Salcombe Yacht Club Company Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2021

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Property improvements

10% straight line

Furniture, fittings and equipment

25% reducing balance

Club boats

25% reducing balance

Freehold land

Not depreciated

Freehold Buildings

2% Straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2020 - 0).

 

Salcombe Yacht Club Company Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2021

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Club boats
 £

Freehold property improvements
 £

Total
£

Cost or valuation

At 1 January 2021

200,003

35,062

59,050

3,563

297,678

Additions

-

6,420

12,308

-

18,728

Disposals

-

(800)

(17,920)

-

(18,720)

At 31 December 2021

200,003

40,682

53,438

3,563

297,686

Depreciation

At 1 January 2021

6,000

13,494

33,041

534

53,069

Charge for the year

2,000

3,611

8,006

356

13,973

Eliminated on disposal

-

(800)

(15,296)

-

(16,096)

At 31 December 2021

8,000

16,305

25,751

890

50,946

Carrying amount

At 31 December 2021

192,003

24,377

27,687

2,673

246,740

At 31 December 2020

194,003

21,568

26,009

3,029

244,609

 

Salcombe Yacht Club Company Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2021

5

Investments

2021
£

2020
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost or valuation

Additions

2

Provision

Carrying amount

At 31 December 2021

2

At 31 December 2020

2

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Amounts owed to group undertakings

71,276

76,021