REGISTERED NUMBER: 02319971 (England and Wales)

Financial Statements

for the Year Ended 30 September 2025

for

Docklands Sailing Centre Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Kenneth Sorensen

David Chesterton

Martin Young

Andrew Delaney

Margaret Phillips

Benjamin Davis

David Morton Hodgson

REGISTERED OFFICE:

235a Westferry Road

Millwall Dock

Isle of Dogs

London

E14 3QS

REGISTERED NUMBER:

02319971 (England and Wales)

AUDITORS:

SCB (Accountants) Limited

31 Sackville street

Manchester

M1 3LZ

Fixed assets

Tangible assets

5

9,479

11,762

Current assets

Stocks

6,700

5,302

Debtors

6

56,797

59,894

Cash at bank

32,584

45,737

96,081

110,933

Creditors

Amounts falling due within one year

7

(94,707

)

(98,759

)

Net current assets

1,374

12,174

Total assets less current liabilities

10,853

23,936

Creditors

Amounts falling due after more than one year

8

(3,899

)

(16,982

)

Net assets

6,954

6,954

Capital and reserves

Called up share capital

9

2

2

Retained earnings

6,952

6,952

Shareholders' funds

6,954

6,954

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2026 and were signed on its behalf by:

Martin Young - Director

1.	STATUTORY INFORMATION

Docklands Sailing Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

COMPARATIVE INFORMATION

The comparative figures relate to the eighteen-month period ended 30 September 2024, following a change in the Company's accounting reference date. Accordingly, the comparative figures are not directly comparable with those for the current year ended 30 September 2025.

GOING CONCERN

The company's financial statement shows a profit for the period of £16,222 (2024: £162,515) and donated 100% profits to charity (parent company).

The financial statements have been prepared on a going concern basis which the directors believe to be appropriate as the parent company Dockland Sailing Centre Trust has agreed to continue to provide financial support so that it can meet all its obligation as they fall due for at least a year from the date the financial statements are approved and ensure adequate resources to continue in operational existence for the foreseeable future. This is considered appropriate as the parent company has a net assets far in excess of the liabilities of the group as per the review of the financial statements and paying attention to the prospective cash position in a variety of scenarios.

REVENUE RECOGNITION

Revenue is recognised when control of the goods and services transfers to the customer and it is probable that economic benefits will flow to the Company and the amount can be measured reliably.

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax and other sales taxes for the services provided in the normal course of business.

MEMBERSHIP AND COURSE INCOME

Membership subscriptions and course/training fees are recognised over the period to which they relate.Income received in advance of the period to which it relates is deferred and recognised in the appropriate accounting period.

DONATION

Any profits earned from bar and water sailing activities is donated to Dockland Sailing Centre Trust under Deeds of Covenant for the charitable activities. The expense is accrued in the period in which the profits arise in the company with the payment is being made to the parent charity in the following financial year.

STOCKS

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Depreciation is recognised so as to write off the cost or valuation of assets less residual values over the useful life on the following basis:

Fixtures and fittings 25% net book value.

Plant & machinery 20% net book value.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

IMPAIRMENT OF FIXED ASSETS

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash- generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

TRADE DEBTORS

Trade debtors are amount due from customers for services performed in 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.

Prepayments are valued at the amount prepaid net of any trade discount due.

TRADE CREDITORS AND PROVISIONS

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally 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.

BASIC FINANCIAL ASSETS

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CLASSIFICATION OF FINANCIAL LIABILITIES

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

EMPLOYEE BENEFIT

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

RETIREMENT BENEFITS

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

LEASES

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

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.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, the charity is required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates

.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods which are addressed as below:

i. Useful economic lives of tangible assets- Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the trustees. Estimated useful lives and residual lives are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidence by disposals during current and prior accounting periods.

ii. Valuation of inventories - Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Management reviews inventory at each reporting date to assess whether any items are slow-moving, obsolete or damaged and whether any provision is required to reduce inventories to their net realisable value.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2024 - 27 ) .

4.	AUDITORS' REMUNERATION

2025

2024

£

£

Auditor's remuneration

4,500

5,500

Auditor's remuneration - Non audit work

1,000

1,460

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 October 2024

82,718

49,708

132,426

Additions

131

-

131

At 30 September 2025

82,849

49,708

132,557

DEPRECIATION

At 1 October 2024

71,669

48,995

120,664

Charge for year

2,236

178

2,414

At 30 September 2025

73,905

49,173

123,078

NET BOOK VALUE

At 30 September 2025

8,944

535

9,479

At 30 September 2024

11,049

713

11,762

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

8,582

1,029

Amounts owed by group undertakings

48,166

58,628

Other debtors

49

237

56,797

59,894

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loan

11,531

9,685

Trade creditors

33,941

23,849

Taxation and social security

42,474

50,686

Other creditors

6,761

14,539

94,707

98,759

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loan

3,899

16,982

The Company's banking facilities are secured by a Standard Mortgage Debenture incorporating fixed and floating charges over the assets of the Company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary Share Capital

1

2

2

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

The Report of the Auditors was unqualified.

Jeffrey Bor FCA (Senior Statutory Auditor)

for and on behalf of SCB (Accountants) Limited

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions not to disclose any transactions with its parent undertaking conferred by FRS 102.33.1A on the grounds that the company is a wholly subsidiary of the parent undertaking. The company's results have also been included in the consolidated results of the parent company.

12.	ULTIMATE CONTROLLING PARTY

At the period end, the company was under the control of its parent company Docklands Sailing Centre Trust, a charitable company registered in England & Wales having its registered office at 235a Westferry Road, London, E14 3QS.

Docklands Sailing Centre Trust was under the control of its board of trustees throughout the year.

Copies of the consolidated financial statements are available from the Charity Commission. The company donates available profits to its parent undertaking as a donation.