Yacht Brokers Designers & Surveyors Association (Holdings) Limited (The) Filleted Accounts Cover
Yacht Brokers Designers & Surveyors Association (Holdings) Limited (The)
Company No. 02115348
Information for Filing with The Registrar
31 March 2025
Yacht Brokers Designers & Surveyors Association (Holdings) Limited (The) Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 March 2025.
Principal activities
The principal activity of the company during the year under review was as a professional association maintaining codes of conduct and rules of practice among members.
Directors
The Directors who served at any time during the year were as follows:
J.D. Ashley
T. Barker
R.N. Elliott
(Resigned 25 November 2024)
A.J. Grabau
(Resigned 25 November 2024)
E. Green
J. Green
C. Ibbotson
R. Knox-Johnston
M.M. Matthews
(Resigned 25 November 2024)
P. Norris
B. Sutcliffe-Davies
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
P. Norris
Director & President
07 July 2025
Yacht Brokers Designers & Surveyors Association (Holdings) Limited (The) Balance Sheet Registrar
at
31 March 2025
Company No.
02115348
Notes
2025
2024
£
£
Fixed assets
Intangible assets
4
523991
Tangible assets
5
215,145221,566
215,668222,557
Current assets
Debtors
6
60,33074,040
Cash at bank and in hand
76,46664,855
136,796138,895
Creditors: Amount falling due within one year
7
(161,275)
(148,903)
Net current liabilities
(24,479)
(10,008)
Total assets less current liabilities
191,189212,549
Creditors: Amounts falling due after more than one year
8
(3,333)
(13,333)
Net assets
187,856199,216
Reserves
Income and expenditure account
9
187,856199,216
Total equity
187,856199,216
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's income and expenditure account.
Approved by the board on 07 July 2025 and signed on its behalf by:
P. Norris
Director & President
07 July 2025
Yacht Brokers Designers & Surveyors Association (Holdings) Limited (The) Notes to the Accounts Registrar
for the year ended 31 March 2025
1
General information
Yacht Brokers Designers & Surveyors Association (Holdings) Limited (The) is a private company limited by guarantee and incorporated in England and Wales.
Its registered number is: 02115348
Its registered office is:
The Glass Works
Penns Road
Petersfield
Hampshire
GU32 2EW
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Going concern
The directors have paid particular attention to the likely effects on the business of the current economic uncertainty and inflationary pressures, and they remain confident that adequate resources are in place to enable the company to continue as a going concern for the foreseeable future.
2
Accounting policies
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim input VAT.
Intangible fixed assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer database costs - 50% on cost
Website development costs - 25% on cost
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Freehold buildings
2% straight line
Plant and machinery
25% reducing balance
Furniture, fittings and equipment
33% straight line
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Leased assets
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
Employees
2025
2024
Number
Number
The average monthly number of employees (including directors) during the year was:
67
4
Intangible fixed assets
Website Development costs
Database
Total
£
£
£
Cost
At 1 April 2024
27,082195,233222,315
At 31 March 2025
27,082195,233222,315
Amortisation and impairment
At 1 April 2024
26,747194,577221,324
Charge for the year
213255468
At 31 March 2025
26,960194,832221,792
Net book values
At 31 March 2025
122401523
At 31 March 2024
335656991
5
Tangible fixed assets
Land and buildings
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
£
Cost
At 1 April 2024
298,85023,32743,985366,162
Disposals
--
(18,865)
(18,865)
At 31 March 2025
298,85023,32725,120347,297
Depreciation
At 1 April 2024
80,34121,58642,669144,596
Charge for the year
5,3144356726,421
Disposals
--
(18,865)
(18,865)
At 31 March 2025
85,65522,02124,476132,152
Net book values
At 31 March 2025
213,1951,306644215,145
At 31 March 2024
218,5091,7411,316221,566
6
Debtors
2025
2024
£
£
Trade debtors
57,20971,581
Other debtors
-1,464
Prepayments and accrued income
3,121995
60,33074,040
7
Creditors:
amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
10,00010,000
Trade creditors
27,45920,962
Other taxes and social security
15,05112,754
Other creditors
1,525300
Accruals and deferred income
107,240104,887
161,275148,903
The business has a total bounceback bank loan outstanding of £13,333 (2024: £23,333) with a nominal interest rate of 2.5% per annum. A one year holiday payment period ended in August 2021. The loan term is 5 years to July 2026.
8
Creditors:
amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
3,33313,333
3,33313,333
9
Reserves
Income and expenditure account - includes all current and prior period retained surpluses and deficits.
10
Guarantees and commitments
2025
2024
£
£
Total of guarantees and commitments
-1,054
Commitments relate to future minimum lease payments under non-cancellable operating leases.
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