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REGISTERED NUMBER: 03549780 (England and Wales)















COTSWOLD WATER SKI CLUB LIMITED
COMPANY LIMITED BY GUARANTEE

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2024






COTSWOLD WATER SKI CLUB LIMITED (REGISTERED NUMBER: 03549780)
COMPANY LIMITED BY GUARANTEE

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


COTSWOLD WATER SKI CLUB LIMITED
COMPANY LIMITED BY GUARANTEE

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: Mrs M Curtis
Mr K A Dunn
Mrs H S Havelin
Mr D Fear
Mr J D Poulton
Mr S P Hunt
Miss A M Curtis
Mrs H Mullis
Mr L J Gribble
Mr W G Wright
Mrs A Neale


REGISTERED OFFICE: 43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG


REGISTERED NUMBER: 03549780 (England and Wales)


ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG


BANKERS: HSBC Bank Plc
27 Gloucester Road North
Filton
Bristol
Avon
BS7 0SQ

COTSWOLD WATER SKI CLUB LIMITED (REGISTERED NUMBER: 03549780)
COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 92,039 68,177

CURRENT ASSETS
Stocks 25,697 21,408
Debtors 5 43,489 18,908
Cash at bank and in hand 102,420 165,053
171,606 205,369
CREDITORS
Amounts falling due within one year 6 12,333 18,447
NET CURRENT ASSETS 159,273 186,922
TOTAL ASSETS LESS CURRENT
LIABILITIES

251,312

255,099

RESERVES
Income and expenditure account 251,312 255,099
251,312 255,099

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3rd May 2025 and were signed on its behalf by:





Mrs H S Havelin - Director


COTSWOLD WATER SKI CLUB LIMITED (REGISTERED NUMBER: 03549780)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Cotswold Water Ski Club Limited is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03549780

Registered office: 43-45 Devizes Road, Swindon, SN1 4BG

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:
- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.
- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.
- Determine an appropriate provision for work in progress by assessing the net realisable value of all work in progress costs previously expended.
- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Road - not provided
Fixtures and fittings - 25% on cost and 10% on cost

Road is not depreciated as it is thought to have an infinite estimated economic useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Financial instruments
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.

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


COTSWOLD WATER SKI CLUB LIMITED (REGISTERED NUMBER: 03549780)
COMPANY LIMITED BY GUARANTEE

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


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2024 121,607
Additions 38,007
At 31st December 2024 159,614
DEPRECIATION
At 1st January 2024 53,430
Charge for year 14,145
At 31st December 2024 67,575
NET BOOK VALUE
At 31st December 2024 92,039
At 31st December 2023 68,177

COTSWOLD WATER SKI CLUB LIMITED (REGISTERED NUMBER: 03549780)
COMPANY LIMITED BY GUARANTEE

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 26,481 1,853
Other debtors 17,008 17,055
43,489 18,908

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,283 3,641
Taxation and social security 1,082 1,221
Other creditors 8,968 13,585
12,333 18,447

7. GUARANTEE OF MEMBERS

The company is limited by guarantee and therefore has no share capital. Each member is limited to a liability of £1 solely in the event of the company winding up.