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REGISTERED NUMBER: 01550796 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2022 TO 28 FEBRUARY 2023

FOR

CHASE WATERSPORTS CENTRE LIMITED

CHASE WATERSPORTS CENTRE LIMITED (REGISTERED NUMBER: 01550796)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 January 2022 to 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHASE WATERSPORTS CENTRE LIMITED

COMPANY INFORMATION
for the Period 1 January 2022 to 28 February 2023







DIRECTORS: Mr C Jones
Mrs D Harrison
Mr D A Longmore
Mr A Gittins





SECRETARY: Mr J M Bates





REGISTERED OFFICE: 90 High Street
Brownhills
Walsall
WS8 6EW





REGISTERED NUMBER: 01550796 (England and Wales)





ACCOUNTANTS: Rice & Co (Brownhills) Limited
Chartered Accountants
90 High Street
Brownhills
Walsall
West Midlands
WS8 6EW

CHASE WATERSPORTS CENTRE LIMITED (REGISTERED NUMBER: 01550796)

BALANCE SHEET
28 February 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,883 11,097

CURRENT ASSETS
Stocks 5 1,500 1,500
Debtors 6 16,733 13,185
Cash at bank and in hand 127,561 130,392
145,794 145,077
CREDITORS
Amounts falling due within one year 7 8,999 10,092
NET CURRENT ASSETS 136,795 134,985
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,678

146,082

PROVISIONS FOR LIABILITIES 3,026 1,939
NET ASSETS 140,652 144,143

RESERVES
Income and expenditure account 140,652 144,143
140,652 144,143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 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.

CHASE WATERSPORTS CENTRE LIMITED (REGISTERED NUMBER: 01550796)

BALANCE SHEET - continued
28 February 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 29 November 2023 and were signed on its behalf by:





Mr D A Longmore - Director


CHASE WATERSPORTS CENTRE LIMITED (REGISTERED NUMBER: 01550796)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 January 2022 to 28 February 2023

1. STATUTORY INFORMATION

Chase Watersports Centre Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when goods have been delivered to customers, or services completed, such that risks and rewards of ownership have been transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Clubhouse - 15% on reducing balance
Ski equipment - 25% on reducing balance
Boats - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Jetties - 50% on reducing balance
Computer equipment - 25% 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.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

CHASE WATERSPORTS CENTRE LIMITED (REGISTERED NUMBER: 01550796)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 January 2022 to 28 February 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2021 - NIL).

4. TANGIBLE FIXED ASSETS
Ski
Clubhouse equipment Boats
£    £    £   
COST
At 1 January 2022 45,239 1,894 35,916
Disposals - - (19,826 )
At 28 February 2023 45,239 1,894 16,090
DEPRECIATION
At 1 January 2022 45,129 1,752 31,922
Charge for period 17 36 487
Eliminated on disposal - - (17,777 )
At 28 February 2023 45,146 1,788 14,632
NET BOOK VALUE
At 28 February 2023 93 106 1,458
At 31 December 2021 110 142 3,994

Fixtures
and Computer
fittings Jetties equipment Totals
£    £    £    £   
COST
At 1 January 2022 72,399 28,807 923 185,178
Disposals - - - (19,826 )
At 28 February 2023 72,399 28,807 923 165,352
DEPRECIATION
At 1 January 2022 67,345 27,137 796 174,081
Charge for period 758 835 32 2,165
Eliminated on disposal - - - (17,777 )
At 28 February 2023 68,103 27,972 828 158,469
NET BOOK VALUE
At 28 February 2023 4,296 835 95 6,883
At 31 December 2021 5,054 1,670 127 11,097

5. STOCKS
2023 2021
£    £   
Stocks 1,500 1,500

CHASE WATERSPORTS CENTRE LIMITED (REGISTERED NUMBER: 01550796)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 January 2022 to 28 February 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade debtors 13,283 4,707
Other debtors 3,450 8,478
16,733 13,185

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade creditors 4,629 680
Taxation and social security 2,441 5,886
Other creditors 1,929 3,526
8,999 10,092