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Registered number: 0491954904919549
OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
UNAUDITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
COMPANY INFORMATION
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M Bentzel (appointed 5 April 2025)
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
CONTENTS
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OPERATING AND FINANCIAL REVIEW
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Statement of comprehensive income
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Statement of changes in equity
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Notes to the financial statements
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
OPERATING AND FINANCIAL REVIEW
FOR THE YEAR ENDED 30 NOVEMBER 2025
The Directors of the Ocean Cruising Club Ltd (“the Club”) present their commentary on the financial results and operations of the Club for the year ended 30 November 2025.
We have welcomed 415 new members to the Club (2024: 458) and after allowing for those who have left, our membership has increased by 9 (2024:82) to a total of 3,761 members (2024: 3,752 members).
Club Turnover rose to £242,270 (2024: £236,545). Our subscription income rose to £187,065 (2024: £183,760) while entrance income fell to £12,069 (2024: £13,200) reflecting the lower number of new members compared to the previous year. Advertising earned £11,905 (2024: £7,822) improving on the previous year because that year carried Flying Fish advertising for one half-year’s publication vs the revenue generated in the current year for the first annual Flying Fish. Regalia sales amounted to £13,455 (2024: £14,139). Club social functions and their organisation generated £10,692 (2024: £11,256).
Club expenditure fell by £217 (2024: £12,566 increase) to £256,424 (2024: £256,641). Of significance was an expenditure increase of £8,444 in Member Services and reductions in Grants awarded and IT costs of £5,153 and £6,676 respectively.
In January 2025 past Commodore Anne Hammick relinquished her role of Flying Fish Editor after thirty years of devoted service and Emily Winter was promoted from Support Administrator to Publications Editor to take over production of Flying Fish. A new Support Administrator, Romy McIntosh, was appointed in April. These changes and a 2.5% staff pay increase have affected costs as noted above albeit the Club is now one contractor less which will generate a saving in future.
Although £5,153 less than in 2024, £11,000 was paid out in grants for Challenge and Youth projects. OCC member owners of Free Range Ocean received £2,500 in support of their Ocean Citizen Science Directory and OCC member Charlie Young received £2,500, her second grant, supporting her Ocean Roamer (Voyage to the Wild) project.
Three YSP grants totalling £1,736 helped young sailors on significant passages during the year and a further £4,264 was donated to the OCC Charitable Trust to be held as a restricted fund devoted to youth sponsorship.
Savings in IT expenditure of £6,557 were generated following the appointment of a new contractor to continue the OCC APP development.
The Club’s investment in Vanguard Life Strategy 20% Equity Fund appreciated over the financial year and is reported in the balance sheet at £150,590 (2024: £142,623). The increase in value £7,967 (2024: £11,951 is unrealised and is shown in the income and expenditure as the change in investment value in the year.
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
OPERATING AND FINANCIAL REVIEW (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
Financial results and future
The loss for the year before investment value change and tax is £5,808 (2024: £10,870 loss) moving to a loss of £911 (2024: £2,768 loss) with investment revaluation and tax taken into account. The Club’s reserves now stand at £354,012 (2024: £354,923). Funds at the Club’s disposal total £227k (2024: £218k).
In 2026, we have assumed membership numbers will remain static and of our expected £222k (2025: £221k) Operating Income, we expect to spend on Publications 22.7% (19.9%), Electronics & Database 22.7% (29.2%), Challenge & Youth Grants 6.2% (3.8%) and Member Services 44.3% (41.5%).
Signed on behalf of the Board by:
NameA.C.Griffiths FCA
Director
Date18 February 2026
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2025
The directors present their report and the financial statements for the year ended 30 November 2025.
Directors' responsibilities statement
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The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors who served during the year were:
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M Bentzel (appointed 5 April 2025)
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
A C Griffiths FCA
Director
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
INDEPENDENT CHARTERED ACCOUNTANTS' REVIEW REPORT
TO THE DIRECTORS OF OCEAN CRUISING CLUB LIMITED
FOR THE YEAR ENDED 30 NOVEMBER 2025
We have reviewed the financial statements of Ocean Cruising Club Limited for the year ended 30 November 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
Directors' Responsibility for the Financial Statements
As explained more fully in the Directors' responsibilities statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.
Accountants' Responsibility
Our objective is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with United Kingdom Generally Accepted Accounting Practice. ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics.
Scope of the Assurance Review
A review of the financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:
∙so as to give a true and fair view of the state of the Company's affairs as at 30 November 2025, and of its loss for the year then ended;
∙in accordance with United Kingdom Generally Accepted Accounting Practice and
∙in accordance with the requirements of the Companies Act 2006.
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
INDEPENDENT CHARTERED ACCOUNTANTS' REVIEW REPORT
TO THE DIRECTORS OF OCEAN CRUISING CLUB LIMITED (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
Use of our report
This report is made solely to the Company's directors, as a body, in accordance with the terms of our engagement letter dated 30 January 2025. Our review work has been undertaken so that we might state to the Company's directors those matters that we have agreed to state to them in a reviewer's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors, as a body, for our review work, for this report or the conclusions we have formed.
WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
17 August 2026
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2025
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Interest receivable and similar income
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Loss for the financial year
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There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of comprehensive income.
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There was no other comprehensive income for 2025 (2024:£NIL).
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The notes on pages 12 to 19 form part of these financial statements.
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
REGISTERED NUMBER: 04919549
BALANCE SHEET
AS AT 30 NOVEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
REGISTERED NUMBER: 04919549
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2025
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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The notes on pages 12 to 19 form part of these financial statements.
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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The notes on pages 12 to 19 form part of these financial statements.
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The company is registered in England and Wales, company number 04919549
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Subscriptions
The Company's principal source of income is a voluntary subscription paid annually by its owners who are all Club members.
Subscriptions are recognised when the amounts of revenue can be measured reliably and it is probable that the Company will receive the consideration due under the transaction. As the subscription year runs from February 1, one sixth of the income received in any financial year is carried over for the benefit of the following financial year.
Other income
The Company earns other revenue from advertisements placed in its publications and from sales of Club regalia. Revenue is recognised in the period when services are provided.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company. This is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Any assets purchased under £750 will be expensed rather than capitalised.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Stocks of regalia are stated at the lower of cost and net realisable value.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price.
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
2.Accounting policies (continued)
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
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The average monthly number of employees during the year was 3 (2024 - 2).
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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Finished goods and goods for resale
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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OCEAN CRUISING CLUB LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
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Credited to profit or loss
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The provision for deferred taxation is made up as follows:
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The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,672. Contributions totalling £nil were payable to the fund at the balance sheet date and are included in creditors
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Unrestricted - Members Accumulated Fund
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