IRIS Accounts Production v23.3.0.418 SC357505 Board of Directors 1.4.22 31.3.23 31.3.23 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3575052022-03-31SC3575052023-03-31SC3575052022-04-012023-03-31SC3575052021-03-31SC3575052021-04-012022-03-31SC3575052022-03-31SC357505ns10:Originalns15:Scotland2022-04-012023-03-31SC357505ns14:PoundSterlingns10:Original2022-04-012023-03-31SC357505ns10:Originalns10:Director12022-04-012023-03-31SC357505ns10:Original2022-04-012023-03-31SC357505ns10:Original2023-03-31SC357505ns10:Originalns10:CompanyLimitedByGuarantee2022-04-012023-03-31SC357505ns10:Originalns10:SmallEntities2022-04-012023-03-31SC357505ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-31SC357505ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31SC357505ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-31SC357505ns10:Originalns10:FullAccounts2022-04-012023-03-31SC357505ns10:Originalns10:Director42022-04-012023-03-31SC357505ns10:Originalns10:Director52022-04-012023-03-31SC357505ns10:Originalns10:Director62022-04-012023-03-31SC357505ns10:Originalns10:Director72022-04-012023-03-31SC357505ns10:Originalns10:RegisteredOffice2022-04-012023-03-31SC357505ns10:Original2022-03-31SC357505ns10:Originalns5:CurrentFinancialInstruments2023-03-31SC357505ns10:Originalns5:CurrentFinancialInstruments2022-03-31SC357505ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-31SC357505ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-31SC357505ns10:Originalns5:LandBuildings2022-04-012023-03-31SC357505ns10:Originalns5:PlantMachinery2022-04-012023-03-31SC357505ns10:Original2021-04-012022-03-31SC357505ns10:Originalns5:LandBuildings2022-03-31SC357505ns10:Originalns5:PlantMachinery2022-03-31SC357505ns10:Original2022-03-31SC357505ns10:Originalns5:LandBuildings2023-03-31SC357505ns10:Originalns5:PlantMachinery2023-03-31SC357505ns10:Originalns5:LandBuildings2022-03-31SC357505ns10:Originalns5:PlantMachinery2022-03-31SC357505ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31SC357505ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31
REGISTERED NUMBER: SC357505 (Scotland)















SCOTTISH ROWING

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023






SCOTTISH ROWING (REGISTERED NUMBER: SC357505)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SCOTTISH ROWING

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: A Neill
D M Roberts
S Winton
M R Taylor
N MacIver





REGISTERED OFFICE: Scottish Rowing Centre
Strathclyde Country Park
366 Hamilton Road
Motherwell
Lanarkshire
ML1 3ED





REGISTERED NUMBER: SC357505 (Scotland)





ACCOUNTANTS: JRD LLP
11 Portland Road
Kilmarnock
KA1 2BT

SCOTTISH ROWING (REGISTERED NUMBER: SC357505)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,072,373 1,012,615

CURRENT ASSETS
Debtors 5 42,655 19,344
Cash at bank 211,902 237,399
254,557 256,743
CREDITORS
Amounts falling due within one year 6 108,519 87,281
NET CURRENT ASSETS 146,038 169,462
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,218,411

1,182,077

ACCRUALS AND DEFERRED INCOME 1,014,885 999,828
NET ASSETS 203,526 182,249

RESERVES
Income and expenditure account 203,526 182,249
203,526 182,249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

SCOTTISH ROWING (REGISTERED NUMBER: SC357505)

BALANCE SHEET - continued
31ST MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 1st October 2023 and were signed on its behalf by:





M R Taylor - Director


SCOTTISH ROWING (REGISTERED NUMBER: SC357505)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

Scottish Rowing is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
Income comprises grants, invoiced income for sports related activities, licence fees and members' affiliation fees. Income is recognised when due and not when received with the exception of fees which are recognised on receipt. The company is not VAT registered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on cost, 15% on cost and at varying rates on cost

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit 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 13 (2022 - 11 ) .

SCOTTISH ROWING (REGISTERED NUMBER: SC357505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2022 972,161 120,195 1,092,356
Additions - 87,595 87,595
At 31st March 2023 972,161 207,790 1,179,951
DEPRECIATION
At 1st April 2022 20,374 59,367 79,741
Charge for year - 27,837 27,837
At 31st March 2023 20,374 87,204 107,578
NET BOOK VALUE
At 31st March 2023 951,787 120,586 1,072,373
At 31st March 2022 951,787 60,828 1,012,615

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 22,148 18,321
Other debtors 20,507 1,023
42,655 19,344

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 66,513 46,574
Taxation and social security 6,756 7,440
Other creditors 35,250 33,267
108,519 87,281

7. RELATED PARTY DISCLOSURES

The related land is owned by North Lanarkshire Council and a formal lease with Scottish Rowing is currently being negotiated. Once completed, the tenant's interest in the lease will be externally valued at a fair value and an appropriate depreciation policy established. The net book value of land and buildings represents the construction costs of the Scottish Rowing Centre which matches the underlying funding included in deferred income. This will in future be released in line with the depreciation of the related costs, once an appropriate policy is established..