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REGISTERED NUMBER: 01091158 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

LAKE DISTRICT BOAT CLUB LIMITED

LAKE DISTRICT BOAT CLUB LIMITED (REGISTERED NUMBER: 01091158)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


LAKE DISTRICT BOAT CLUB LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: Mr L Lansley
Mr A Salter
Mrs C Anderson
Mr G Blythe
Mr P Harkness
Dr M A Sills
Mr J Lambert
Mr G P Twiss
Mr J Ithell





SECRETARY: Mrs C Anderson





REGISTERED OFFICE: Glebe Road
Bowness on Windermere
Cumbria
LA23 3HE





REGISTERED NUMBER: 01091158 (England and Wales)





ACCOUNTANTS: RfM Fylde Limited
Summerdale
Head Dyke Lane
Pilling
Lancashire
PR3 6SJ

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LAKE DISTRICT BOAT CLUB LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lake District Boat Club Limited for the year ended 30 April 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Lake District Boat Club Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lake District Boat Club Limited and state those matters that we have agreed to state to the Board of Directors of Lake District Boat Club Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lake District Boat Club Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lake District Boat 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 Lake District Boat Club Limited. You consider that Lake District Boat Club Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lake District Boat 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.






RfM Fylde Limited
Summerdale
Head Dyke Lane
Pilling
Lancashire
PR3 6SJ


8 October 2024

LAKE DISTRICT BOAT CLUB LIMITED (REGISTERED NUMBER: 01091158)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 762,475 762,875

CURRENT ASSETS
Stocks 3,839 2,710
Debtors 5 18,630 11,939
Cash at bank and in hand 37,401 53,071
59,870 67,720
CREDITORS
Amounts falling due within one year 6 35,340 34,846
NET CURRENT ASSETS 24,530 32,874
TOTAL ASSETS LESS CURRENT
LIABILITIES

787,005

795,749

CREDITORS
Amounts falling due after more than one
year

7

44,702

53,530
NET ASSETS 742,303 742,219

RESERVES
Revaluation reserve 9 581,887 592,310
Special reserve 720 720
Income and expenditure account 159,696 149,189
742,303 742,219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 surplus or deficit 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.

LAKE DISTRICT BOAT CLUB LIMITED (REGISTERED NUMBER: 01091158)

BALANCE SHEET - continued
30 April 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:




Mrs C Anderson - Director



Mr L Lansley - Director


LAKE DISTRICT BOAT CLUB LIMITED (REGISTERED NUMBER: 01091158)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Lake District Boat Club Limited 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 as modified by the revaluation of certain assets.

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.
Freehold property - 1% on cost
Committee boat - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Jetties - 10% on cost

Land and buildings held and used in the Company's own activities are stated in the accounts at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the balance sheet date.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

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

Stocks and work in progress are stated at the lower of cost and estimated costs to complete and sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Estimated selling price less costs to complete and sell is based on the estimated selling price of the goods less any estimated completion or selling costs likely to be incurred on the sale.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

LAKE DISTRICT BOAT CLUB LIMITED (REGISTERED NUMBER: 01091158)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Committee and
property boat fittings Jetties Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2023 650,393 9,000 37,898 159,007 856,298
Additions 18,295 - 6,029 - 24,324
Disposals - (9,000 ) - - (9,000 )
At 30 April 2024 668,688 - 43,927 159,007 871,622
DEPRECIATION
At 1 May 2023 14,451 8,762 34,433 35,777 93,423
Charge for year 6,687 - 1,899 15,900 24,486
Eliminated on disposal - (8,762 ) - - (8,762 )
At 30 April 2024 21,138 - 36,332 51,677 109,147
NET BOOK VALUE
At 30 April 2024 647,550 - 7,595 107,330 762,475
At 30 April 2023 635,942 238 3,465 123,230 762,875

Cost or valuation at 30 April 2024 is represented by:

Fixtures
Freehold and
property fittings Jetties Totals
£    £    £    £   
Valuation in 2021 624,000 - 156,000 780,000
Cost 44,688 43,927 3,007 91,622
668,688 43,927 159,007 871,622

If freehold properties & jetties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 285,787 267,492
Aggregate depreciation 112,794 100,629

Freehold properties & jetties were valued on a fair value basis on 4 November 2020 by Colliers International Property Advisers .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,750 2,250
Other debtors 15,880 9,689
18,630 11,939

LAKE DISTRICT BOAT CLUB LIMITED (REGISTERED NUMBER: 01091158)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,700 7,486
Trade creditors 445 1,150
Taxation and social security 817 1,034
Other creditors 25,378 25,176
35,340 34,846

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 44,702 53,530

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 18,599

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 53,402 61,016

The bank loan is secured by a first legal mortgage on the company's freehold property and a fixed charge over all book and other debts dated 17th October 2008.

9. RESERVES
Revaluation
reserve
£   
At 1 May 2023 592,310
Transfer of realised profit (10,423 )

At 30 April 2024 581,887