REGISTERED NUMBER: 14957451 (England and Wales)

EMSWORTH SAILING CLUB LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Browne

NJ Chandler

EL Gardiner

JE Hepworth

CB Hodkinson

LP Korzilius

DJ Owen-Ellis Clark

S Townsend

HA Wyles

C Summers

M Frost

P Gawley

J Millard

T Porter

REGISTERED OFFICE:

55 Bath Road

Emsworth

Hants

PO10 7ES

REGISTERED NUMBER:

14957451 (England and Wales)

AUDITORS:

MC Audit Limited

Statutory Auditors

Lake House

2 Port Way

Port Solent

Portsmouth

Hampshire

PO6 4TY

FIXED ASSETS

Tangible assets

4

797,091

813,894

Investments

5

3,000

3,000

800,091

816,894

CURRENT ASSETS

Stocks

1,835

1,831

Debtors

6

34,030

24,370

Cash at bank and in hand

521,531

449,748

557,396

475,949

CREDITORS

Amounts falling due within one year

7

53,960

40,182

NET CURRENT ASSETS

503,436

435,767

TOTAL ASSETS LESS CURRENT LIABILITIES

1,303,527

1,252,661

CREDITORS

Amounts falling due after more than one year

8

-

15,633

NET ASSETS

1,303,527

1,237,028

RESERVES

Income and expenditure account

10

1,303,527

1,237,028

1,303,527

1,237,028

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 18 May 2026 and were signed on its behalf by:

C Summers - Director

1.	STATUTORY INFORMATION

Emsworth Sailing Club Limited 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.

Going concern

The directors are of the opinion that the Company can continue to meet its obligations for at least twelve months after the signing of the accounts and that the Company will continue in operational existence for the foreseeable future. Therefore the directors continue to adopt the going concern basis in preparing the Annual Report and financial statements.

Limited by guarantee

The company is a company limited by guarantee and it has no share capital.

Preparation of consolidated financial statements

The financial statements contain information about Emsworth Sailing Club Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Income is recognised to the extent thar it is probable that the economic benefits will flow to the company and the revenue can be measured. Income is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Membership subscriptions, dinghy park, mooring, training and other sailing income are recognised over the period to which the services are provided. Bar and catering income is recognised at the point of sale.

Tangible fixed assets

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

Individual fixed assets costing more than £300 have been capitalised, unless covered by specific grant or donation income.

Depreciation is provided on all tangible fixed assets with finite useful life, such that the cost of an asset is written off over the period of its expected useful life.

The methods used and the annual rates applied to specific classes of assets are as follows:

Buildings

2% per annum

Pontoons

4% per annum

Improvements to Buildings

4% per annum

Club Boats

16.67% per annum

Kitchen Equipment

20% per annum

Furniture and Fittings

20% - 33.33% per annum

Assets are depreciated using the straight-line method, with the different classes of asset depreciated at the rates outlined above. Depreciation is calculate on a full month basis and is charged in the month of acquisition.

Only items costing £500 or more (net of VAT) are considered for capitalisation by the company and each item eligible of capitalisation is considered and assessed on its own merits, as to whether it qualifies to be expensed or capitalised.

Assets under construction will be reclassified to the appropriate asset class once it is ready for intended use by management. At this point in time the depreciation will start according to the method of the appropriate asset class.

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 and investments in non-puttable ordinary shares.

Debtors

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

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank 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 Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs

The company pays fixed contributions into a separate legal entity. Once the contributions have been paid the company has no further payment obligations.

Irrecoverable vat

Irrecoverable VAT is charged to the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2025

648,523

966,551

1,615,074

Additions

-

41,682

41,682

Disposals

-

(5,030

)

(5,030

)

At 31 December 2025

648,523

1,003,203

1,651,726

DEPRECIATION

At 1 January 2025

238,284

562,896

801,180

Charge for year

10,736

47,663

58,399

Eliminated on disposal

-

(4,944

)

(4,944

)

At 31 December 2025

249,020

605,615

854,635

NET BOOK VALUE

At 31 December 2025

399,503

397,588

797,091

At 31 December 2024

410,239

403,655

813,894

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

£

Fowley Marine (Emsworth) Limited

3,000

3,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Fowley Marine(Emsworth) Limited

Registered office: Emsworth Sailing Club, 55 Bath Road, Emsworth, Hampshire, England, PO10 7ES

Nature of business: Operation of sports facilities

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

£

Aggregate capital and reserves

3,000

3,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

14,579

14,100

Other debtors

19,451

10,270

34,030

24,370

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

14,421

16,433

Taxation and social security

6,439

2,516

Other creditors

33,100

21,233

53,960

40,182

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

-

15,633

The amount represents an interest-free loan obtained by Clifts Catering Ltd ("CCL"), which is contractually repayable by 31 December 2026. Although the entity intends to repay the loan in line with this agreement, repayments are expected to be made within the next 12 months and, accordingly, the loan has been classified as a current liability at the reporting date.

If a member leaves the club and the balance held by CCL on the member’s card is less than £50, the balance is donated to the Blake Fund by way of a reduction in the loan outstanding to CCL. Membership card balances are reviewed periodically and any qualifying balances are transferred to the Fund.

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

7,652

7,652

Between one and five years

20,222

25,690

In more than five years

6,006

8,190

33,880

41,532

10.

RESERVES

Income and

expenditure

account

£

At 1 January 2025

1,237,028

Surplus/(Deficit) for the year

57,849

Prior year adjustment

3,650

Transfer from Emsworth Sailing Club

5,000

At 31 December 2025

1,303,527

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Underwood FCCA (Senior Statutory Auditor)

for and on behalf of MC Audit Limited

12.	CAPITAL COMMITMENTS

2025

2024

£

£

Contracted but not provided for in the

financial statements

110,610

-

A contract was entered into with Farndell Builders (Sussex) Ltd on 28th November 2025. A total quote of £110,610 (excluding VAT) was provided for works to being completed on the east wing of the sailing club. Farndell Builders commenced construction on 2nd January 2025.

13.	RELATED PARTY DISCLOSURES

The company also entered into several related party transactions with Mark Gardiner, company director Emma Gardiner's spouse. During the year a total of £4,500 was incurred for work done to the seated decking area of the club.

Finally, on 11 February 2025, the company received £5,000 from the unincorporated Emsworth Sailing Club. The unincorporated entity has since been wound-up.This transaction was simply a transfer of funds so that any cash left over in the unincorporated entity was passed over to the company.

14.	ULTIMATE CONTROLLING PARTY

The company is not under control by any specific party.