REGISTERED NUMBER: 01045347 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

EASTBOURNE SOVEREIGN SAILING CLUB

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms C F Fry

P J Hepburn

A J Hunt

A Jeffries

Ms L V Kiernan

B Daigneault

SECRETARY:

Ms L V Kiernan

REGISTERED OFFICE:

30-34 North Street

Hailsham

BN27 1DW

REGISTERED NUMBER:

01045347 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

4

19,983

18,327

CURRENT ASSETS

Stocks

-

999

Debtors

5

9,575

3,562

Cash at bank and in hand

45,999

60,148

55,574

64,709

CREDITORS

Amounts falling due within one year

6

(27,148

)

(23,269

)

NET CURRENT ASSETS

28,426

41,440

TOTAL ASSETS LESS CURRENT LIABILITIES

48,409

59,767

RESERVES

Other reserves

17,094

17,094

Retained earnings

31,315

42,673

48,409

59,767

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2025 and were signed on its behalf by:

A J Hunt - Director

1.	STATUTORY INFORMATION

Eastbourne Sovereign Sailing Club Ltd 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.

Critical accounting judgements and key sources of estimation uncertainty

No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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.

Improvements to property

-

over term of lease

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Boats

-

20% on reducing balance

Solar Thermal System

-

33% on cost

Stocks

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

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 September 2024

4,392

12,204

21,971

Additions

-

-

1,382

At 31 August 2025

4,392

12,204

23,353

DEPRECIATION

At 1 September 2024

4,392

9,189

19,114

Charge for year

-

603

848

At 31 August 2025

4,392

9,792

19,962

NET BOOK VALUE

At 31 August 2025

-

2,412

3,391

At 31 August 2024

-

3,015

2,857

Solar

Thermal

Boats

System

Totals

£

£

£

COST

At 1 September 2024

89,029

14,415

142,011

Additions

4,616

-

5,998

At 31 August 2025

93,645

14,415

148,009

DEPRECIATION

At 1 September 2024

76,574

14,415

123,684

Charge for year

2,891

-

4,342

At 31 August 2025

79,465

14,415

128,026

NET BOOK VALUE

At 31 August 2025

14,180

-

19,983

At 31 August 2024

12,455

-

18,327

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,251

1,771

Other debtors

7,324

1,791

9,575

3,562

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Membership pre-paid

16,459

14,250

Trade creditors

3,769

1,694

Taxation and social security

-

3,415

Other creditors

6,920

3,910

27,148

23,269

7.	MEMBERS' LIABILITY

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £0.25.

8.	OPERATING LEASE COMMITMENTS

Eastbourne Sovereign Sailing Club Limited holds the following operating lease:

- Eastbourne Borough Council: Payable quarterly for 45 years from February 2010

At the reporting end date the company had outstanding commitments for the future minimum lease payments under non-cancellable operating leases, as follows:

2025

2024

£

£

155,335

160,600