Registered number
04083968
Oxford Sailing Club
Filleted Accounts
31 March 2024
Oxford Sailing Club
Registered number: 04083968
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 222,295 204,295
Current assets
Stocks 6,528 5,759
Debtors 4 2,792 1,844
Cash at bank and in hand 156,414 217,789
165,734 225,392
Creditors: amounts falling due within one year 5 (77,888) (91,730)
Net current assets 87,846 133,662
Net assets 310,141 337,957
Capital and reserves
Revaluation reserve 6 (185,100) (185,100)
Profit and loss account 495,241 523,057
Shareholder's funds 310,141 337,957
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.
D J Oughton
Director
Approved by the board on 6 October 2024
Oxford Sailing Club
Notes to the Accounts
for the year ended 31 March 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 101,042 194,976 296,018
Additions - 42,782 42,782
Disposals - (19,114) (19,114)
At 31 March 2024 101,042 218,644 319,686
Depreciation
At 1 April 2023 33,302 58,421 91,723
Charge for the year 4,233 5,186 9,419
On disposals - (3,751) (3,751)
At 31 March 2024 37,535 59,856 97,391
Net book value
At 31 March 2024 63,507 158,788 222,295
At 31 March 2023 67,740 136,555 204,295
4 Debtors 2024 2023
£ £
Trade debtors 904 74
Other debtors 1,888 1,770
2,792 1,844
5 Creditors: amounts falling due within one year 2024 2023
£ £
Advance subscriptions 41,889 61,893
Deposits held 10,749 10,774
Trade creditors 4,000 -
Taxation and social security costs 601 (46)
Other creditors 20,649 19,109
77,888 91,730
6 Revaluation reserve 2024 2023
£ £
At 1 April 2023 (185,100) -
Loss on revaluation of land and buildings - (185,100)
At 31 March 2024 (185,100) (185,100)
7 Other information
Oxford Sailing Club is a private company limited by shares and incorporated in England. Its registered office is:
Temperance House
Langdon Lane
Radway
Warwickshire
CV35 0UQ
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