Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity23truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04484807 2023-04-01 2024-03-31 04484807 2022-04-01 2023-03-31 04484807 2024-03-31 04484807 2023-03-31 04484807 c:Director1 2023-04-01 2024-03-31 04484807 d:FurnitureFittings 2023-04-01 2024-03-31 04484807 d:OtherPropertyPlantEquipment 2024-03-31 04484807 d:OtherPropertyPlantEquipment 2023-03-31 04484807 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04484807 d:CurrentFinancialInstruments 2024-03-31 04484807 d:CurrentFinancialInstruments 2023-03-31 04484807 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04484807 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04484807 d:ShareCapital 2024-03-31 04484807 d:ShareCapital 2023-03-31 04484807 d:RetainedEarningsAccumulatedLosses 2024-03-31 04484807 d:RetainedEarningsAccumulatedLosses 2023-03-31 04484807 c:FRS102 2023-04-01 2024-03-31 04484807 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04484807 c:FullAccounts 2023-04-01 2024-03-31 04484807 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 04484807






BENFLEET MOTORBOAT AND YACHT CLUB LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










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BENFLEET MOTORBOAT AND YACHT CLUB LIMITED
REGISTERED NUMBER:04484807

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,663
2,080

  
1,663
2,080

Current assets
  

Stocks
  
500
500

Debtors: amounts falling due within one year
 6 
1,317
1,195

Cash at bank and in hand
 7 
100
100

  
1,917
1,795

Creditors: amounts falling due within one year
 8 
(28,955)
(33,313)

Net current liabilities
  
 
 
(27,038)
 
 
(31,518)

Total assets less current liabilities
  
(25,375)
(29,438)

  

Net liabilities
  
(25,375)
(29,438)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(25,377)
(29,440)

  
(25,375)
(29,438)


Page 1

 
BENFLEET MOTORBOAT AND YACHT CLUB LIMITED
REGISTERED NUMBER:04484807
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 statement of income and retained earnings 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 by: 




C M Sadler
Director

Date: 5 August 2024

Page 2

 
BENFLEET MOTORBOAT AND YACHT CLUB LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Benfleet Motorboat and Yacht Club Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1DB.
The principal activity of the company continued to be that of a proprietary 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, despite the net current liabilities, due to the continuing support of the director.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

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.

Page 3

 
BENFLEET MOTORBOAT AND YACHT CLUB LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
20% reducing balance

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 4

 
BENFLEET MOTORBOAT AND YACHT CLUB LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 -3).

Page 5

 
BENFLEET MOTORBOAT AND YACHT CLUB LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Taxation



Factors that may affect future tax charges

The company has estimated losses of £25,694 (2023: £30,241) available for carry forward against future
trading profits.






5.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 April 2023
7,609



At 31 March 2024

7,609



Depreciation


At 1 April 2023
5,529


Charge for the year on owned assets
417



At 31 March 2024

5,946



Net book value



At 31 March 2024
1,663



At 31 March 2023
2,080

Page 6

 
BENFLEET MOTORBOAT AND YACHT CLUB LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Prepayments and accrued income
1,317
1,195

1,317
1,195



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
100
100

100
100



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
26,977
31,101

Accruals and deferred income
1,978
2,212

28,955
33,313


 
Page 7