REGISTERED NUMBER: 12336373 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TEAM WAVENEY SWIMMING CLUB LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C M Holmes

Mrs J C Adcock

Mrs A C Edwards

Mrs C Whittaker

SECRETARY:

REGISTERED OFFICE:

Lothing House

7 Quay View Business Park

Barnards Way

Lowestoft

Suffolk

NR32 2HD

REGISTERED NUMBER:

12336373 (England and Wales)

ACCOUNTANTS:

Juler Tooke

Lothing House

Quay View Business Park

Barnards Way

Lowestoft

Suffolk

NR32 2HD

FIXED ASSETS

Tangible assets

4

10,116

7,716

CURRENT ASSETS

Stocks

2,225

900

Debtors

5

1,175

1,820

Cash at bank

36,965

51,974

40,365

54,694

CREDITORS

Amounts falling due within one year

6

(17,802

)

(12,338

)

NET CURRENT ASSETS

22,563

42,356

TOTAL ASSETS LESS CURRENT LIABILITIES

32,679

50,072

RESERVES

Income and expenditure account

32,679

50,072

32,679

50,072

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mrs J C Adcock - Director

C M Holmes - Director

1.	STATUTORY INFORMATION

Team Waveney Swimming Club Limited is a private company, limited by guarantee , 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The company considers itself to be exempt from corporation tax on activities as a members' club operating under mutual trading in so much as it being owned by its members and existing to provide them with the benefits of such.

Taxation is provided for on investment income as and when received by the club as and when it arises or any trading income not for the provision of services to members.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

14,458

Additions

4,498

At 31 December 2024

18,956

DEPRECIATION

At 1 January 2024

6,742

Charge for year

2,098

At 31 December 2024

8,840

NET BOOK VALUE

At 31 December 2024

10,116

At 31 December 2023

7,716

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

421

421

Other debtors

754

1,399

1,175

1,820

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

-

486

Trade creditors

17,702

11,818

Taxation and social security

100

34

17,802

12,338

7.	LIMITED BY GUARANTEE

Every member of the club undertakes to contribute an amount not exceeding £1 to the company's assets in the event of the company being wound up whilst a member or withing one year of cessation of membership, for the payment of the company's debts and liabilities contracted before cessation of membership and of the costs, charges and expenses of winding up the company and for the adjustment of the rights of the contributor's among themselves.