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REGISTERED NUMBER: 02506268 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

London Regatta Centre Limited

London Regatta Centre Limited (Registered number: 02506268)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


London Regatta Centre Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr J D Kinsella
Mr D Lawrence





SECRETARY: Ms R K Brown





REGISTERED OFFICE: London Regatta Centre
Dockside Road
London
E16 2QT





REGISTERED NUMBER: 02506268 (England and Wales)





AUDITORS: DUX Advisory Limited
Chartered Accountants and
Statutory Auditors
Kennel Club House
Gatehouse Way
Aylesbury
Buckinghamshire
HP19 8DB

London Regatta Centre Limited (Registered number: 02506268)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,745 53,802

CURRENT ASSETS
Debtors 5 26,744 7,838
Cash at bank 159,869 606,615
186,613 614,453
CREDITORS
Amounts falling due within one year 6 808,388 1,342,537
NET CURRENT LIABILITIES (621,775 ) (728,084 )
TOTAL ASSETS LESS CURRENT LIABILITIES (570,030 ) (674,282 )

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings (570,032 ) (674,284 )
SHAREHOLDERS' FUNDS (570,030 ) (674,282 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2024 and were signed on its behalf by:





Mr J D Kinsella - Director


London Regatta Centre Limited (Registered number: 02506268)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

London Regatta Centre Limited is a private company, limited by shares , 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.

Despite the deficit of assets at the balance sheet date, at the time of approving the financial statements, management have a reasonable expectation that the parent will provide the resources to continue in operational existence for the foreseeable future. Management have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Management have tested their cash flow analysis to take into account the impact on their business of possible scenarios alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, management have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

The presentational currency is Sterling £ and rounded to the nearest pound.

Significant judgements and estimates
In preparing the financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. These assumptions are reassessed annually as part of the accounts preparation process.

In the view of management in applying the accounting policies adopted, no judgements were required that have significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a risk of material adjustment in 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.

The various streams of income included boat rack hire, day tickets, management, tank hire, intro to rowing, miscellaneous income, parking, event hire and facility hire. The major stream of income is mainly from parking charges.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of tangible fixed assets have different useful lives, they are accounted for a separate items of tangible fixed assets.

Depreciation is provided at the following annual rates in order to write off each asset over its useful estimated life, or if held under a finance lease, over the lease term whichever is shorter:

Plant & machinery - 25% reducing balance

London Regatta Centre Limited (Registered number: 02506268)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are measured at amortised cost other than financial investments are measured at fair value.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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.

Creditors
Short-term creditors are measured at the transactions price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 104,743
Additions 12,326
At 31 March 2024 117,069
DEPRECIATION
At 1 April 2023 50,941
Charge for year 14,383
At 31 March 2024 65,324
NET BOOK VALUE
At 31 March 2024 51,745
At 31 March 2023 53,802

London Regatta Centre Limited (Registered number: 02506268)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 25,521 6,615
Other debtors 1,223 1,223
26,744 7,838

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 3,542 1,922
Amounts owed to group undertakings 769,427 1,312,858
Taxation and social security 15,969 8,646
Other creditors 19,450 19,111
808,388 1,342,537

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Bianca Permal FCA (Senior Statutory Auditor)
for and on behalf of DUX Advisory Limited

9. RELATED PARTY DISCLOSURES

The following related party transactions were found for the year ended 31 March 2024:

- Income from hire of conference room, tank hire and racking income from London Youth Rowing (LYR) £7,344 (2023: £3,918) (John Kinsella was chair of LYR until Oct 2022, Matt Rostron is CEO of LYR but didn't become a trustee of Royal Albert Dock Trust (RADT), the parent company, until Sept 2023)
- Income from hire of conference room from MSSC - £167 (2023: £nil) (Martin Coles is CEO and was a trustee of RADT until July 2023, Paul Wilkinson is employed by MSSC but didn't become a trustee of RADT until Sept 2023)
- Income from British Rowing for consultancy and event hire - £11,000 (2023: £11,822) (Gary Harris was the representative from British Rowing and was a trustee of RADT until July 2023, Alastair Marks is a Director at British Rowing but didn't become a trustee of RADT until Sept 2023)

10. ULTIMATE CONTROLLING PARTY

Royal Albert Dock Trust is the ultimate controlling party of London Regatta Centre Limited.