WPNSA Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 7

WPNSA Limited

Company Information

Chief executive

Mr J D Tweedle

Directors

Mr J M Scott Mr J D Tweedle

Registered office

Osprey Quay Portland Dorset DT5 1SA

Auditors

Edwards and Keeping Limited Chartered Accountants Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

WPNSA Limited

(Registration number: 03738770)
Balance Sheet as at 31 March 2025

	Note	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	5		198,304		162,515
Current assets
Stocks	6	11,503		14,467
Debtors	7	162,769		113,677
Cash at bank and in hand		126,533		229,365
		300,805		357,509
Creditors: Amounts falling due within one year	8	(305,686)		(318,294)
Net current (liabilities)/assets			(4,881)		39,215
Net assets			193,423		201,730
Capital and reserves
Called up share capital	9	2		2
Retained earnings		193,421		201,728
Shareholders' funds			193,423		201,730

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 December 2025 and signed on its behalf by:
 

Mr J M Scott
Director

WPNSA Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Osprey Quay
Portland
Dorset
DT5 1SA

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 23 December 2025 was Sarah Hough FCA DChA, who signed for and on behalf of Edwards and Keeping Limited.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Tax

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

WPNSA Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% straight line and 15% and 20% reducing balance
Motor vehicles	25% Reducing balance
Computer equipment	33% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

WPNSA Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2024 - 30).

4	Auditors' remuneration

	2025 £	2024 £
Audit of the financial statements	5,100	4,750

 

WPNSA Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025

5	Tangible assets

	Furniture, fittings and equipment £	Other property, plant and equipment £	Total £
Cost
At 1 April 2024	17,322	420,070	437,392
Additions	3,620	66,049	69,669
Disposals	-	(984)	(984)
At 31 March 2025	20,942	485,135	506,077
Depreciation
At 1 April 2024	12,053	262,824	274,877
Charge for the year	3,587	29,939	33,526
Eliminated on disposal	-	(630)	(630)
At 31 March 2025	15,640	292,133	307,773
Carrying amount
At 31 March 2025	5,302	193,002	198,304
At 31 March 2024	5,269	157,246	162,515

6

Stocks

	2025 £	2024 £
Catering stock	11,503	14,467

7

Debtors

Current	2025 £	2024 £
Trade debtors	38,783	41,493
Prepayments	123,986	70,939
Other debtors	-	1,245
	162,769	113,677

WPNSA Limited

Notes to the Financial Statements
for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	81,025	149,291
Taxation and social security	40,126	19,998
Accruals and deferred income	181,946	146,905
Other creditors	2,589	2,100
	305,686	318,294

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

10	Related party transactions

Summary of transactions with parent

Weymouth & Portland National Sailing Academy
 
On 7 May 2010 the company’s entire share capital was acquired by Weymouth & Portland National Sailing Academy.

The company had the following transactions with Weymouth & Portland National Sailing Academy during year:-

An annual payment of £71,179 (2024: £74,221) was due to Weymouth & Portland National Sailing Academy, a total of £71,179 (2024: £74,221) was payable by the company at the year end.

Income for use of the venue of £245,333 (2024: £193,749) was receivable by Weymouth & Portland National Sailing Academy and payable to the company. At the year end income for use of the venue of £1,563 (2024 - £1,563) was due from Weymouth & Portland National Sailing Academy and £2,083 (2024: £1,667) had been received in advance.

Expenses of £19,666 (2024: £16,870) were incurred by Weymouth & Portland National Sailing Academy and payable by the company. At the year end £Nil (2024: £Nil) was due to Weymouth & Portland National Sailing Academy in respect of these expenses.

In the year to 31 March 2025 infrastructure repairs expenditure of £11,395 (2024: £50,668) was recharged to Weymouth and Portland National Sailing Academy.

At 31 March 2025 £51,253 (2024; £Nil) is owed to WPNSA Limited by Weymouth and Portland National Sailing Academy in relation to onsite partner fees.