| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| ROYAL BURNHAM YACHT CLUB LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| ROYAL BURNHAM YACHT CLUB LIMITED |
| ROYAL BURNHAM YACHT CLUB LIMITED (REGISTERED NUMBER: 00168571) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Chartered Certified Accountant's Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| ROYAL BURNHAM YACHT CLUB LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANT: |
| Chartered Certified Accountants |
| 49 High Street |
| Burnham on Crouch |
| Essex |
| CM0 8AG |
| CHARTERED CERTIFIED ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| ROYAL BURNHAM YACHT 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, I have prepared for your approval the financial statements of Royal Burnham Yacht Club Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given me. |
| As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the Board of Directors of Royal Burnham Yacht Club Limited, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Royal Burnham Yacht Club Limited and state those matters that I have agreed to state to the Board of Directors of Royal Burnham Yacht Club Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for my work or for this report. |
| It is your duty to ensure that Royal Burnham Yacht 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 Royal Burnham Yacht Club Limited. You consider that Royal Burnham Yacht Club Limited is exempt from the statutory audit requirement for the year. |
| I have not been instructed to carry out an audit or a review of the financial statements of Royal Burnham Yacht Club Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Certified Accountants |
| 49 High Street |
| Burnham on Crouch |
| Essex |
| CM0 8AG |
| ROYAL BURNHAM YACHT CLUB LIMITED (REGISTERED NUMBER: 00168571) |
| BALANCE SHEET |
| 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| RESERVES |
| Other reserves |
| Income and expenditure account |
| 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. |
| ROYAL BURNHAM YACHT CLUB LIMITED (REGISTERED NUMBER: 00168571) |
| BALANCE SHEET - continued |
| 30 SEPTEMBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ROYAL BURNHAM YACHT CLUB LIMITED (REGISTERED NUMBER: 00168571) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Royal Burnham Yacht Club Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Subscriptions income is recognised on the basis that reflects the timing, nature and value of benefits provided to members. |
| Bar and restaurant sales are recognised at the point of sales. |
| Members functions are accounted for on the date of the event. |
| Accommodation income is recognised at the date of rental due to cancellation clauses. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| ROYAL BURNHAM YACHT CLUB LIMITED (REGISTERED NUMBER: 00168571) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Rbyc endowment fund |
| The RBYC Endowment fund total is £363,931 (2023 : £337,675). |
| Other operating income |
| 2024 | 2023 |
| Members' donations | £6,190 | £6,190 |
| Donations totalling £30,950 were received from members during 2022. These monies were spent on the upgrade of the kitchen and for new beds in the hotel accommodation. This expenditure is of capital nature and is being depreciated over 5 years. Hence the donations are being treated as deferred income and spread over 5 years. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2023 |
| Additions |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 October 2023 |
| Additions |
| Disposals | ( |
) |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| ROYAL BURNHAM YACHT CLUB LIMITED (REGISTERED NUMBER: 00168571) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Included in other creditors are deferred annual members subscriptions and donations at the year-end were £60,737 (2023: £51,540) are not repayable. In accordance with the accounting policy, they are recognised over the period in which they relate. Deferred members donations £6,190 (2023 : £6,390) see notes 2 and 9. |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other creditors |
| 2024 | 2023 |
| £ | £ |
| Deferred Members' donations | 6,190 | 12,980 |
| Members loans | 165,000 | 174,000 |
| Interest payable at maturity | 17,227 | 13,927 |
| 188,417 | 200,907 |
| Deferred members donations were received during 2022. These monies were spent on the upgrade of the kitchen and for new beds in the hotel accommodation. These donations are being written off in line with amortisation of the capitalised expenditure over 5 years. |
| Members loans and accrued interest; In 2019 members loaned the club funds to rebuild the pontoon. The loans are repayable 2028 with interest accrued by the club an payable at maturity. |
| 9. | LIMITED BY GUARANTEE |
| The company is limited by guarantee of members and does not have a share capital. As per section 7 of the articles of association, each members liability is restricted to £1 within one year of ceasing to be a member. |