13 23 Salcombe Yacht Club (2017) Limited 10627328 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of the continued provision and support of sailing activities. These activities include the organisation of racing, cruising and cadet training together with associated supporting services that include changing rooms and showers, bars and catering services. Sailing events are organised together with social activities to benefit all members on and off the water. Digita Accounts Production Advanced 6.30.9574.0 true 10627328 2024-01-01 2024-12-31 10627328 2024-12-31 10627328 core:CurrentFinancialInstruments 2024-12-31 10627328 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 10627328 bus:SmallEntities 2024-01-01 2024-12-31 10627328 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10627328 bus:FilletedAccounts 2024-01-01 2024-12-31 10627328 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10627328 bus:RegisteredOffice 2024-01-01 2024-12-31 10627328 bus:Director14 2024-01-01 2024-12-31 10627328 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10627328 countries:EnglandWales 2024-01-01 2024-12-31 10627328 2023-01-01 2023-12-31 10627328 2023-12-31 10627328 core:CurrentFinancialInstruments 2023-12-31 10627328 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 xbrli:pure iso4217:GBP

Salcombe Yacht Club (2017) Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 December 2024

Registration number: 10627328

 

Salcombe Yacht Club (2017) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Salcombe Yacht Club (2017) Limited

Balance Sheet

31 December 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

6,579

11,209

Debtors

5

96,977

85,514

Cash at bank and in hand

 

197,329

207,406

 

300,885

304,129

Creditors: Amounts falling due within one year

6

(116,628)

(134,433)

Net assets

 

184,257

169,696

Capital and reserves

 

Called up share capital

2

2

Other reserves

19,207

17,118

Profit and loss account

165,048

152,576

Shareholders' funds

 

184,257

169,696

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 16 April 2025 and signed on its behalf by:
 

.........................................
Mr M Taylor
Director

Company Registration Number: 10627328

 

Salcombe Yacht Club (2017) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cliff House
Cliff Road
Salcombe
Devon
England
TQ8 8JQ

These financial statements were authorised for issue by the Board on 16 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Government grants

Government grants are accounted for under the accruals model. Grants relating to revenue are recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

 

Salcombe Yacht Club (2017) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 23).

4

Stocks

2024
£

2023
£

Other inventories

6,579

11,209

 

Salcombe Yacht Club (2017) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

5

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings

71,285

55,505

Prepayments

 

20,989

19,561

Other debtors

 

4,703

10,448

 

96,977

85,514

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

5,111

7,286

Taxation and social security

8,550

8,920

Accruals and deferred income

101,984

116,316

Other creditors

983

1,911

116,628

134,433