Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31trueNo description of principal activity2023-01-01false3328trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13522062 2023-01-01 2023-12-31 13522062 2021-07-21 2022-12-31 13522062 2023-12-31 13522062 2022-12-31 13522062 c:Director1 2023-01-01 2023-12-31 13522062 c:Director2 2023-01-01 2023-12-31 13522062 c:Director3 2023-01-01 2023-12-31 13522062 c:Director4 2023-01-01 2023-12-31 13522062 c:Director5 2023-01-01 2023-12-31 13522062 c:Director6 2023-01-01 2023-12-31 13522062 c:Director7 2023-01-01 2023-12-31 13522062 c:Director8 2023-01-01 2023-12-31 13522062 c:Director9 2023-01-01 2023-12-31 13522062 c:Director10 2023-01-01 2023-12-31 13522062 c:Director11 2023-01-01 2023-12-31 13522062 c:Director12 2023-01-01 2023-12-31 13522062 c:Director13 2023-01-01 2023-12-31 13522062 c:Director14 2023-01-01 2023-12-31 13522062 c:Director15 2023-01-01 2023-12-31 13522062 c:Director16 2023-01-01 2023-12-31 13522062 c:RegisteredOffice 2023-01-01 2023-12-31 13522062 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 13522062 d:Buildings d:LongLeaseholdAssets 2023-12-31 13522062 d:Buildings d:LongLeaseholdAssets 2022-12-31 13522062 d:PlantMachinery 2023-01-01 2023-12-31 13522062 d:PlantMachinery 2023-12-31 13522062 d:PlantMachinery 2022-12-31 13522062 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13522062 d:MotorVehicles 2023-01-01 2023-12-31 13522062 d:MotorVehicles 2023-12-31 13522062 d:MotorVehicles 2022-12-31 13522062 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13522062 d:OfficeEquipment 2023-01-01 2023-12-31 13522062 d:OfficeEquipment 2023-12-31 13522062 d:OfficeEquipment 2022-12-31 13522062 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13522062 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 13522062 d:OtherPropertyPlantEquipment 2023-12-31 13522062 d:OtherPropertyPlantEquipment 2022-12-31 13522062 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13522062 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13522062 d:CurrentFinancialInstruments 2023-12-31 13522062 d:CurrentFinancialInstruments 2022-12-31 13522062 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13522062 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13522062 d:RetainedEarningsAccumulatedLosses 2023-12-31 13522062 d:RetainedEarningsAccumulatedLosses 2022-12-31 13522062 c:FRS102 2023-01-01 2023-12-31 13522062 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13522062 c:FullAccounts 2023-01-01 2023-12-31 13522062 c:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 13522062 2 2023-01-01 2023-12-31 13522062 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 13522062









NORFOLK BROADS YACHT CLUB LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NORFOLK BROADS YACHT CLUB LIMITED
 
 
COMPANY INFORMATION


Directors
M D Absalom 
B Campbell 
H P Evans 
R Knight 
R Lord 
B E Wilkins 
R B Angell 
G P Evans 
J M Reid 
P Wren 
N C Gill 
W S Knight 
S A Dugdale 
R J Ferrier-Hanger 
G Waring 
P F Youngs 




Registered number
13522062



Registered office
Norfolk Broads Yacht Club
The Avenue

Norwich

Norfolk

NR12 8TS




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
NORFOLK BROADS YACHT CLUB LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 9


 
NORFOLK BROADS YACHT CLUB LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NORFOLK BROADS YACHT CLUB LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Norfolk Broads Yacht Club Limited for the year ended 31 December 2023 which comprise the balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the board of directors of Norfolk Broads Yacht Club Limited, as a body, in accordance with the terms of our engagement letter dated 13 December 2021Our work has been undertaken solely to prepare for your approval the financial statements of Norfolk Broads Yacht Club Limited and state those matters that we have agreed to state to the board of directors of Norfolk Broads Yacht Club Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Norfolk Broads Yacht Club Limited and its board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Norfolk Broads Yacht Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Norfolk Broads Yacht Club Limited. You consider that Norfolk Broads Yacht Club Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Norfolk Broads Yacht Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

1 July 2024
Page 1

 
NORFOLK BROADS YACHT CLUB LIMITED
REGISTERED NUMBER: 13522062

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
292,393
251,333

  
292,393
251,333

Current assets
  

Stocks
 5 
6,259
4,648

Debtors: amounts falling due within one year
 6 
12,417
16,187

Cash at bank and in hand
  
167,825
194,593

  
186,501
215,428

Creditors: amounts falling due within one year
 7 
(63,186)
(68,245)

Net current assets
  
 
 
123,315
 
 
147,183

Total assets less current liabilities
  
415,708
398,516

  

Net assets
  
415,708
398,516


Capital and reserves
  

Profit and loss account
  
415,708
398,516

  
415,708
398,516


Page 2

 
NORFOLK BROADS YACHT CLUB LIMITED
REGISTERED NUMBER: 13522062
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 July 2024.






J M Reid
R Knight
Commodore
Immediate Past Commodore

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
NORFOLK BROADS YACHT CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Norfolk Broads Yacht Club Limited is a private company, limited by guarantee, incorporated and domiciled in England and Wales. The registered office is Norfolk Broads Yacht Club, The Avenue, Wroxham, Norwich, Norfolk, NR12 8TS.
The Company's principal activity is that of a yacht club.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises the invoiced value of goods and services supplied by the club, exclusive of Value Added Tax and trade discounts.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
NORFOLK BROADS YACHT CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold premises
-
5 to 10% straight line
Plant and equipment
-
20% straight line
Boats and launches
-
20% straight line
Office equipment
-
20% straight line
Mooring basin & quayheading
-
10% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
NORFOLK BROADS YACHT CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Page 6

 
NORFOLK BROADS YACHT CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


     31 December
   13 months ended
      31 December
        2023
        2022
            No.
            No.







Employees
17
10



Directors
16
18

33
28


4.


Tangible fixed assets





Leasehold premises
Plant and equipment
Boats and launches
Office equipment
Mooring pens
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2023
74,359
31,154
16,583
13,175
161,710
296,981


Additions
2,640
37,635
12,227
3,506
37,041
93,049


Disposals
-
(1,035)
-
(1,117)
-
(2,152)



At 31 December 2023

76,999
67,754
28,810
15,564
198,751
387,878



Depreciation


At 1 January 2023
5,503
11,434
3,767
3,996
20,948
45,648


Charge for the year on owned assets
5,845
11,370
5,207
3,492
25,597
51,511


Disposals
-
(629)
-
(1,045)
-
(1,674)



At 31 December 2023

11,348
22,175
8,974
6,443
46,545
95,485



Net book value



At 31 December 2023
65,651
45,579
19,836
9,121
152,206
292,393

Page 7

 
NORFOLK BROADS YACHT CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Stocks

2023
2022
£
£

Bar stocks
2,508
2,209

Goods for resale
1,405
1,405

Race prizes
1,500
1,034

Gas
846
-

6,259
4,648



6.


Debtors

2023
2022
£
£


Trade debtors
2,972
7,394

Other debtors
2,717
2,200

Prepayments and accrued income
6,728
6,593

12,417
16,187



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
1,920
2,160

Subscriptions and fees in advance
38,226
35,616

Trade creditors
18,555
4,775

Corporation tax
-
2,150

Other taxation and social security
-
3,456

Other creditors
536
1,777

Accruals and deferred income
3,949
18,311

63,186
68,245



8.Operating lease commitments

At 31 December 2023 the Club had a 16 year lease in place, paying annual rent of £42,500 which is fixed until the next review in 2024.

Page 8

 
NORFOLK BROADS YACHT CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


9.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

 
Page 9