Company Registration No. 00701131 (England and Wales)
LYMINGTON TOWN SAILING CLUB LIMITED
Unaudited accounts
for the year ended 31 August 2023
LYMINGTON TOWN SAILING CLUB LIMITED
Unaudited accounts
Contents
LYMINGTON TOWN SAILING CLUB LIMITED
Company Information
for the year ended 31 August 2023
Directors
Mr P A Etheridge
Mr A Evans
Mr S J Homewood
Mr D Ellis
Mr N Dunnet
Mrs Chipperfield
Mr J Thornton
Mr C Bunce
Mrs Markham
Mr R Ward
Mr D Ward
Company Number
00701131 (England and Wales)
Registered Office
Bath House
Bath Road
Lymington
Hampshire
SO41 3SE
United Kingdom
Accountants
Eleve11 Consulting Ltd T/A Cloud Eleven Accountants
Palamos House
66-67 High St
Lymington
Hampshire
SO41 9AL
LYMINGTON TOWN SAILING CLUB LIMITED
Statement of financial position
as at 31 August 2023
Tangible assets
464,670
476,848
Cash at bank and in hand
195,989
209,639
Creditors: amounts falling due within one year
(129,533)
(121,101)
Net current assets
116,306
120,645
Total assets less current liabilities
580,976
597,493
Creditors: amounts falling due after more than one year
(100,629)
(112,203)
Net assets
480,347
485,290
Profit and loss account
480,347
485,290
Members' funds
480,347
485,290
For the year ending 31 August 2023 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by
Mr A Evans
Director
Company Registration No. 00701131
LYMINGTON TOWN SAILING CLUB LIMITED
Notes to the Accounts
for the year ended 31 August 2023
LYMINGTON TOWN SAILING CLUB LIMITED is a private company, limited by guarantee, registered in England and Wales, registration number 00701131. The registered office is Bath House, Bath Road, Lymington, Hampshire, SO41 3SE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Leasehold Straight Line in accordance with the length of the lease. Changing rooms 5% Straight Line.
Plant & machinery
20%/25% on Reducing Balance
Fixtures & fittings
20% Reducing Balance
Computer equipment
20% Reducing Balance
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Government grants are recognised under the accrual model meaning that grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
LYMINGTON TOWN SAILING CLUB LIMITED
Notes to the Accounts
for the year ended 31 August 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2022
635,802
232,903
99,272
16,275
984,252
Additions
-
25,354
1,020
-
26,374
Disposals
-
(10,000)
-
-
(10,000)
At 31 August 2023
635,802
248,257
100,292
16,275
1,000,626
At 1 September 2022
228,034
186,742
80,887
11,741
507,404
Charge for the year
15,793
16,157
3,797
908
36,655
On disposals
-
(8,103)
-
-
(8,103)
At 31 August 2023
243,827
194,796
84,684
12,649
535,956
At 31 August 2023
391,975
53,461
15,608
3,626
464,670
At 31 August 2022
407,768
46,161
18,385
4,534
476,848
Amounts falling due within one year
Trade debtors
10,952
7,191
Accrued income and prepayments
20,298
16,384
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
38,296
32,996
Taxes and social security
5,063
4,754
Other creditors
27,362
37,982
Deferred income
40,855
23,902
7
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
82,486
88,408
Deferred income
18,143
23,795
LYMINGTON TOWN SAILING CLUB LIMITED
Notes to the Accounts
for the year ended 31 August 2023
8
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
9
Operating lease commitments
2023
2022
At 31 August 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
12,586
12,586
Later than one year and not later than five years
50,344
50,344
Later than five years
602,030
614,616
10
Average number of employees
During the year the average number of employees was 20 (2022: 17).