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Company registration number: 13737131
Scaling Dam Sailing & Watersports Club
Company limited by guarantee
Unaudited filleted abridged financial statements
28 February 2025
Scaling Dam Sailing & Watersports Club
Company limited by guarantee
Contents
Abridged statement of financial position
Notes to the financial statements
Scaling Dam Sailing & Watersports Club
Company limited by guarantee
Abridged statement of financial position
28 February 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 6 20,919 23,423
_______ _______
20,919 23,423
Current assets
Debtors 3,974 -
Cash at bank and in hand 94,177 88,503
_______ _______
98,151 88,503
Creditors: amounts falling due
within one year ( 43,383) ( 36,710)
_______ _______
Net current assets 54,768 51,793
_______ _______
Total assets less current liabilities 75,687 75,216
_______ _______
Net assets 75,687 75,216
_______ _______
Capital and reserves
Opening capital and reserves 75,216 109
Total surplus/(deficit) for the year 471 (15,202)
Transfer from unincorporated association - 90,309
_______ _______
Closing capital and reserves 75,687 75,216
_______ _______
For the year ending 28 February 2025 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Statement of financial activities has not been delivered.
All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 28 February 2025 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:
Mr David Ian Holden
Director
Company registration number: 13737131
Scaling Dam Sailing & Watersports Club
Company limited by guarantee
Notes to the financial statements
Year ended 28 February 2025
1. General information
The company is a private company limited by guarantee, registered in England & Wales. The address of the registered office is Whitby Moor Road, Easington, Saltburn By The Sea, North Yorkshire, TS13 4TP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
On 1st Novemeber 2023 the activities of Scaling Dam Sailing Club were transferred to Scaling Dam Sailing & Watersports Club, and on the same date all of the assets and liabilities of the unincorporated club were transferred to Scaling Dam Sailing & Watersports Club.The transfer of net assets of £90,309 is included in the capital and reserves disclousre on the balance sheet on page 5.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2024: 6 ).
6. Tangible assets
£
Cost
At 29 February 2024 28,580
Additions 7,870
Disposals ( 7,398)
_______
At 28 February 2025 29,052
_______
Depreciation
At 29 February 2024 5,157
Charge for the year 4,176
Disposals ( 1,200)
_______
At 28 February 2025 8,133
_______
Carrying amount
At 28 February 2025 20,919
_______
At 28 February 2024 23,423
_______
7. Directors advances, credits and guarantees
There were no directors' advances, credits or guarantees in the period.
8. Limited by Guarantee
The liability of each Club Member is limited to £1, being the amount that each Club Member undertakes to contribute to the assets of the Club in the event of its being wound up while they are a Club Member or within one year after they cease to be a Club Member, for: payment of the Club's debts and liabilities contracted before they cease to be a Club Member; payment of the costs, charges and expenses of winding up; and adjustment of the rights of the contributories among themselves.