REGISTERED NUMBER: 03549780 (England and Wales)

COTSWOLD WATER SKI CLUB LIMITED

COMPANY LIMITED BY GUARANTEE

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

Mr K A Dunn

Mrs H S Havelin

Mr D Fear

Mr J D Poulton

Mrs H Mullis

Mr L J Gribble

Mrs A Neale

Mrs M J Poulton-Stowe

Mrs E A Hart

Mr I Collins

Mr D E Moule

REGISTERED OFFICE:

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

REGISTERED NUMBER:

03549780 (England and Wales)

ACCOUNTANTS:

Morris Owen

Chartered Accountants

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

HSBC Bank Plc

27 Gloucester Road North

Filton

Bristol

Avon

BS7 0SQ

FIXED ASSETS

Tangible assets

4

83,050

92,039

CURRENT ASSETS

Stocks

-

25,697

Debtors

5

32,159

43,489

Cash at bank and in hand

175,569

102,420

207,728

171,606

CREDITORS

Amounts falling due within one year

6

37,631

12,333

NET CURRENT ASSETS

170,097

159,273

TOTAL ASSETS LESS CURRENT LIABILITIES

253,147

251,312

RESERVES

Income and expenditure account

253,147

251,312

253,147

251,312

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th April 2026 and were signed on its behalf by:

Mrs H S Havelin - Director

1.	STATUTORY INFORMATION

Cotswold Water Ski Club Limited is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03549780

Registered office: 43-45 Devizes Road, Swindon, SN1 4BG

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

Significant judgements and estimates

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determine an appropriate provision for work in progress by assessing the net realisable value of all work in progress costs previously expended.

- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year.

Tangible fixed assets

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

Road

-

not provided

Fixtures and fittings

-

25% on cost and 10% on cost

Road is not depreciated as it is thought to have an infinite estimated economic useful life.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Financial instruments

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2025

159,614

Additions

4,368

At 31st December 2025

163,982

DEPRECIATION

At 1st January 2025

67,575

Charge for year

13,357

At 31st December 2025

80,932

NET BOOK VALUE

At 31st December 2025

83,050

At 31st December 2024

92,039

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

20,017

26,481

Other debtors

12,142

17,008

32,159

43,489

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

2,932

2,283

Taxation and social security

1,036

1,082

Other creditors

33,663

8,968

37,631

12,333

7.	GUARANTEE OF MEMBERS

The company is limited by guarantee and therefore has no share capital. Each member is limited to a liability of £1 solely in the event of the company winding up.

8.	WORK IN PROGRESS

For a number of years the company has been working towards obtaining planning permission for Broadway Lane. All costs associated have been taken to work in progress for the duration of the project. During this year it has been discussed by the directors, who have determined that this is now a completed project and as such the work in progress has been released.