IRIS Accounts Production v24.2.0.383 01045347 Board of Directors 1.9.23 31.8.24 31.8.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh010453472023-08-31010453472024-08-31010453472023-09-012024-08-31010453472022-08-31010453472022-09-012023-08-31010453472023-08-3101045347ns15:EnglandWales2023-09-012024-08-3101045347ns14:PoundSterling2023-09-012024-08-3101045347ns10:Director12023-09-012024-08-3101045347ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3101045347ns10:SmallEntities2023-09-012024-08-3101045347ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3101045347ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3101045347ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3101045347ns10:FullAccounts2023-09-012024-08-3101045347ns10:Director22023-09-012024-08-3101045347ns10:Director32023-09-012024-08-3101045347ns10:Director42023-09-012024-08-3101045347ns10:Director52023-09-012024-08-3101045347ns10:CompanySecretary12023-09-012024-08-3101045347ns10:RegisteredOffice2023-09-012024-08-3101045347ns5:CurrentFinancialInstruments2024-08-3101045347ns5:CurrentFinancialInstruments2023-08-3101045347ns5:FurtherSpecificReserve1ComponentTotalEquity2024-08-3101045347ns5:FurtherSpecificReserve1ComponentTotalEquity2023-08-3101045347ns5:RetainedEarningsAccumulatedLosses2024-08-3101045347ns5:RetainedEarningsAccumulatedLosses2023-08-310104534712023-09-012024-08-3101045347ns5:LeaseholdImprovements2023-09-012024-08-3101045347ns5:PlantMachinery2023-09-012024-08-3101045347ns5:FurnitureFittings2023-09-012024-08-3101045347ns5:MotorVehicles2023-09-012024-08-3101045347ns5:ComputerEquipment2023-09-012024-08-3101045347ns5:LeaseholdImprovements2023-08-3101045347ns5:PlantMachinery2023-08-3101045347ns5:FurnitureFittings2023-08-3101045347ns5:LeaseholdImprovements2024-08-3101045347ns5:PlantMachinery2024-08-3101045347ns5:FurnitureFittings2024-08-3101045347ns5:LeaseholdImprovements2023-08-3101045347ns5:PlantMachinery2023-08-3101045347ns5:FurnitureFittings2023-08-3101045347ns5:MotorVehicles2023-08-3101045347ns5:ComputerEquipment2023-08-3101045347ns5:MotorVehicles2024-08-3101045347ns5:ComputerEquipment2024-08-3101045347ns5:MotorVehicles2023-08-3101045347ns5:ComputerEquipment2023-08-3101045347ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3101045347ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-31
REGISTERED NUMBER: 01045347 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

EASTBOURNE SOVEREIGN SAILING CLUB
LIMITED

EASTBOURNE SOVEREIGN SAILING CLUB
LIMITED (REGISTERED NUMBER: 01045347)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EASTBOURNE SOVEREIGN SAILING CLUB
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Ms C F Fry
P J Hepburn
A J Hunt
A Jeffries
Ms L V Kiernan





SECRETARY: Ms L V Kiernan





REGISTERED OFFICE: 30-34 North Street
Hailsham
BN27 1DW





REGISTERED NUMBER: 01045347 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

EASTBOURNE SOVEREIGN SAILING CLUB
LIMITED (REGISTERED NUMBER: 01045347)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 18,327 23,480

CURRENT ASSETS
Stocks 999 1,757
Debtors 5 3,562 13,181
Cash at bank and in hand 60,148 53,284
64,709 68,222
CREDITORS
Amounts falling due within one year 6 (23,269 ) (21,214 )
NET CURRENT ASSETS 41,440 47,008
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,767

70,488

RESERVES
Other reserves 17,094 17,094
Retained earnings 42,673 53,394
59,767 70,488

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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 profit or loss 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:





A Jeffries - Director


EASTBOURNE SOVEREIGN SAILING CLUB
LIMITED (REGISTERED NUMBER: 01045347)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Eastbourne Sovereign Sailing Club Ltd 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.

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.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over term of lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Boats - 20% on reducing balance
Solar Thermal System - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an 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.

EASTBOURNE SOVEREIGN SAILING CLUB
LIMITED (REGISTERED NUMBER: 01045347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2023 4,392 12,204 21,971
Additions - - -
At 31 August 2024 4,392 12,204 21,971
DEPRECIATION
At 1 September 2023 4,392 8,435 18,400
Charge for year - 754 714
At 31 August 2024 4,392 9,189 19,114
NET BOOK VALUE
At 31 August 2024 - 3,015 2,857
At 31 August 2023 - 3,769 3,571

Solar
Thermal
Boats System Totals
£    £    £   
COST
At 1 September 2023 88,099 14,415 141,081
Additions 930 - 930
At 31 August 2024 89,029 14,415 142,011
DEPRECIATION
At 1 September 2023 71,959 14,415 117,601
Charge for year 4,615 - 6,083
At 31 August 2024 76,574 14,415 123,684
NET BOOK VALUE
At 31 August 2024 12,455 - 18,327
At 31 August 2023 16,140 - 23,480

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,771 3,661
Other debtors 1,791 9,520
3,562 13,181

EASTBOURNE SOVEREIGN SAILING CLUB
LIMITED (REGISTERED NUMBER: 01045347)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Membership pre-paid 14,250 12,547
Trade creditors 1,694 6,382
Taxation and social security 3,415 -
Other creditors 3,910 2,285
23,269 21,214

7. MEMBERS' LIABILITY

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £0.25.

8. OPERATING LEASE COMMITMENTS

Eastbourne Sovereign Sailing Club Limited holds the following operating lease:
- Eastbourne Borough Council: Payable quarterly for 45 years from February 2010

At the reporting end date the company had outstanding commitments for the future minimum lease payments under non-cancellable operating leases, as follows:

2024 2023
£ £
160,600 165,375