Registered number
SC510040
Burntisland Sailing Club Limited
Filleted Accounts
3 July 2024
Burntisland Sailing Club Limited
Registered number: SC510040
Balance Sheet
as at 3 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 109,842 109,842
Current assets
Stocks 80 80
Cash at bank and in hand 28,733 22,898
28,813 22,978
Creditors: amounts falling due within one year 4 (1,192) (1,151)
Net current assets 27,621 21,827
Total assets less current liabilities 137,463 131,669
Creditors: amounts falling due after more than one year 5 (18,250) (26,040)
Net assets 119,213 105,629
Capital and reserves
Profit and loss account 119,213 105,629
Shareholder's funds 119,213 105,629
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Blankenstein
Director
Approved by the board on 4 November 2024
Burntisland Sailing Club Limited
Notes to the Accounts
for the year ended 3 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable and includes revenue earned from the rendering of services in relation to a member's Sailing Club operation
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on at the following annual rates on all tangible fixed assets, other than freehold land and premises, as follows:
Plant and machinery (Club Boat) 15% on a Reducing Balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 12
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 4 July 2023 65,053 45,177 110,230
Comprising :
Compound 18,480
Clubhouse 7,956
Pontoon 38,617
Club Boat 1,006
At 3 July 2024 65,053 45,177 110,230
Depreciation
At 4 July 2023 - 388 388
At 3 July 2024 - 388 388
Net book value
At 3 July 2024 65,053 44,789 109,842
At 3 July 2023 65,053 44,789 109,842
4 Creditors: amounts falling due within one year 2024 2023
£ £
Key deposits 760 760
Accruals 432 391
5 Creditors: amounts falling due after one year 2024 2023
£ £
Loans - Members 18,250 25,750
RNLI - 290
18,250 26,040
6 Other information
Burntisland Sailing Club Limited is a private company limited by guarantee and incorporated in Scotland. Its registered office is:
BSC Clubhouse
East Dock, Burntisland Harbour
Burntisland
Fife
KY3 9DQ
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