Company registration number 5838052 (England and Wales)
THE CRUISING ASSOCIATION
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
THE CRUISING ASSOCIATION
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
THE CRUISING ASSOCIATION
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
64,672
44,177
Tangible assets
5
1,112,795
1,117,418
Investments
6
424,870
377,920
1,602,337
1,539,515
Current assets
Stocks
27,123
16,272
Debtors
8
119,751
117,692
Cash at bank and in hand
336,270
266,981
483,144
400,945
Creditors: amounts falling due within one year
9
(481,067)
(372,855)
Net current assets
2,077
28,090
Total assets less current liabilities
1,604,414
1,567,605
Creditors: amounts falling due after more than one year
10
(37,300)
(38,800)
Net assets
1,567,114
1,528,805
Reserves
Revaluation reserve
11
49,521
39,194
Other reserves
916,910
916,910
Income and expenditure account
600,683
572,701
Total members' funds
1,567,114
1,528,805
THE CRUISING ASSOCIATION
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2025
30 June 2025
- 2 -

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question 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 financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 8 October 2025 and are signed on its behalf by:
Nick Nottingham
Nick Clayton
Director
Director
Company registration number 5838052 (England and Wales)
THE CRUISING ASSOCIATION
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2025
30 June 2025
- 3 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Subscriptions in advance

Subscriptions in advance are calculated and deferred within the accounts based on the date which the members joined. A record of members and date of fees paid is maintained and therefore estimation uncertainty is considered to be low risk.

2
Accounting policies
Company information

The Cruising Association is a private company limited by guarantee incorporated in England and Wales. The registered office is CA House, 1 Northey Street, Limehouse Basin, London, E14 8BT.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

THE CRUISING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2
Accounting policies
(Continued)
- 4 -
2.3
Intangible fixed assets other than goodwill

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:

Software
Straight line over 5 years
2.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
no amortisation since estimated life is greater than 50 years
Fixtures, fittings & equipment
from 3 years to 25 years on a straight line basis

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.

2.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

2.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

2.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

THE CRUISING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
2
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

Financial assets comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt.

Investments, including those in subsidiary undertakings are held at fair value at the balance sheet date, with gains and losses being recognised within income and expenditure.

Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions.

2.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

2.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

3
Employees

The average monthly number of persons employed by the company during the year was 13 (2024 - 11).

2025
2024
Number
Number
Total
13
11
THE CRUISING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 6 -
4
Intangible fixed assets
Other
£
Cost
At 1 July 2024
138,946
Additions
51,732
At 30 June 2025
190,678
Amortisation and impairment
At 1 July 2024
94,769
Amortisation charged for the year
31,237
At 30 June 2025
126,006
Carrying amount
At 30 June 2025
64,672
At 30 June 2024
44,177
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2024
1,077,842
293,891
1,371,733
Additions
-
0
10,994
10,994
At 30 June 2025
1,077,842
304,885
1,382,727
Depreciation and impairment
At 1 July 2024
-
0
254,315
254,315
Depreciation charged in the year
-
0
15,617
15,617
At 30 June 2025
-
0
269,932
269,932
Carrying amount
At 30 June 2025
1,077,842
34,953
1,112,795
At 30 June 2024
1,077,842
39,576
1,117,418

Land and buildings are not depreciated as the directors consider that the market value is in excess of the carrying amount at the period end.

THE CRUISING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
6
Fixed asset investments
2025
2024
£
£
Other investments other than loans
424,870
377,920
Fixed asset investments not carried at market value

Fixed asset investments represents the listed investments shown at their fair value of £414,870 (2024: £367,920) and the Association's library. Due to the nature of of the content of the library it is included in the accounts at its historical value of £10,000 (2024: £10,000), a value the directors consider to be reasonable.

Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 July 2024
377,920
Additions
155,528
Valuation changes
10,327
Realised profit
4,599
Disposals
(123,504)
At 30 June 2025
424,870
Carrying amount
At 30 June 2025
424,870
At 30 June 2024
377,920
7
Financial instruments
2025
2024
£
£
Carrying amount of financial assets include:
Instruments measured at fair value through surplus or deficit
414,870
367,920

The carrying amount of financial assets represents the fair value of the Association's investment portfolio.

8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade Debtors
42,645
22,902
Other debtors
2,600
400
Prepayments and accrued income
74,506
94,390
119,751
117,692
THE CRUISING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
9
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
97,812
58,117
Corporation tax
2,818
1,954
Other taxation and social security
24,043
25,100
Other creditors and deferred income
356,394
287,684
481,067
372,855
10
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
37,300
38,800

The directors have estimated that £5,000 (2024: £5,000) of the property bonds are repayable within one year leaving £3 7,3 00 (2024: £38,8 00) outstanding as a longer term liability.

11
Fair value reserve
2025
2024
£
£
At beginning of year
39,194
8,719
Fair value adjustment to investments
10,327
30,475
At end of year
49,521
39,194

The fair value reserve represents unrealised gains and losses arising from the remeasurement of securities managed by Evelyn Partners. In accordance with the applicable financial reporting framework, all fair value movements are recognised through the profit and loss account.

12
Liability of members

The liability of members is limited. Every member of the Association agrees to contribute £1 or any smaller amount required if:-

-The Association is wound up while he or she is a member or within a year afterwards; and

-The Association has debts and liabilities which it cannot meet out of its assets.

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