REGISTERED NUMBER: SC357505 (Scotland)

SCOTTISH ROWING

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr L Graham

Mrs S Mccall

A J Clarkson

J W Logan

R I Gordon

M D Martin

F M Rennie

F J Armit

L J Boucher

I H Munro

REGISTERED OFFICE:

Scottish Rowing Centre

Strathclyde Country Park

366 Hamilton Road

Motherwell

Lanarkshire

ML1 3ED

REGISTERED NUMBER:

SC357505 (Scotland)

ACCOUNTANTS:

JRD LLP

11 Portland Road

Kilmarnock

KA1 2BT

FIXED ASSETS

Tangible assets

4

634,366

671,904

CURRENT ASSETS

Debtors

5

59,879

59,782

Cash at bank

140,353

205,381

200,232

265,163

CREDITORS

Amounts falling due within one year

6

111,210

134,575

NET CURRENT ASSETS

89,022

130,588

TOTAL ASSETS LESS CURRENT LIABILITIES

723,388

802,492

ACCRUALS AND DEFERRED INCOME

562,331

610,725

NET ASSETS

161,057

191,767

RESERVES

Income and expenditure account

161,057

191,767

161,057

191,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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 21st August 2025 and were signed on its behalf by:

M D Martin - Director

1.	STATUTORY INFORMATION

Scottish Rowing is a private company, limited by guarantee , registered in Scotland. 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.

Income

Income comprises grants, invoiced income for sports related activities, licence fees and members' affiliation fees. Income is recognised when due and not when received with the exception of fees which are recognised on receipt. The company is not VAT registered.

Tangible fixed assets

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

Property

-

2% on cost

Plant and machinery etc

-

25% on cost, 15% on cost and at varying rates on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

Property

etc

Totals

£

£

£

COST

At 1st April 2024

972,161

266,442

1,238,603

Additions

-

22,558

22,558

At 31st March 2025

972,161

289,000

1,261,161

DEPRECIATION

At 1st April 2024

447,194

119,505

566,699

Charge for year

19,443

40,653

60,096

At 31st March 2025

466,637

160,158

626,795

NET BOOK VALUE

At 31st March 2025

505,524

128,842

634,366

At 31st March 2024

524,967

146,937

671,904

Property represents the construction costs of the Scottish Rowing Centre which was completed during 2002 and built on land which is owned by North Lanarkshire Council. A formal lease with Scottish Rowing was finalised during March 2024. The lease was previously held by the former unincorporated association. The costs were primarily funded by grants and donations which were originally treated as deferred income and are being released in line with the depreciation of the property.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade debtors

34,957

43,038

Other debtors

24,922

16,744

59,879

59,782

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade creditors

45,669

84,059

Taxation and social security

7,158

11,752

Other creditors

58,383

38,764

111,210

134,575