The directors are responsible for preparing the annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent; and

• 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 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.

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Andrew Simpson Watersports Centres Limited is a private company limited by shares incorporated in England and Wales. The registered office is Osprey Quay, Portland, Dorset, DT5 1SA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

These financial statements are prepared on the going concern basis. The company had net liabilities at the balance sheet date and is therefore dependant on the continued support of its parent undertaking, Andrew Simpson Sailing Foundation. The directors of Andrew Simpson Sailing Foundation confirm this support will be maintained.

In the opinion of the board, by proactively managing cashflow, the company has sufficient working capital to continue to meet its financial obligations and pay its liabilities as they fall due for the foreseeable future. The directors have considered the level of reserves held, any restrictions on usage, and the expected level of income and expenditure for 12 months from the date of authorising these financial statements.

The directors continue to monitor closely the short-term liquidity of the company.

The directors consider that there are no material uncertainties about the company's ability to continue as a going concern.

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue for watersports activities on the date that the activity is delivered.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks.

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, 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.

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, 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.

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.

The average monthly number of persons (including directors) employed by the company during the year was:

The average number of persons on a full time equivalent basis employed by the company (including directors) during the year was 39 (2024: 42).

Sail Training Trust

During the year, income relating to the provision of programme delivery of £96,920 (2024: £97,747) was received from Sail Training Trust.

During the year, staff and other costs recharged to Sail Training Trust were £41,957 (2024: £53,486).

At the balance sheet date, the amount due from Sail Training Trust was £5,628 (2024: £8,778).

Horizons (Plymouth)

During the year, staff and other costs recharged to Horizons (Plymouth) were £128,769 (2024: £19,048).

There were grants of £62,770 (2024: £8,000) paid to Horizons (Plymouth) during the year.

At the balance sheet date, the amount due from Horizons (Plymouth) was £1,719 (2024: £6,201).

Andrew Simpson Sailing Foundation

During the year, staff costs recharged by Andrew Simpson Sailing Foundation were £96,873 (2024: £84,446).

During the year, administrative costs recharged by Andrew Simpson Sailing Foundation were £34,958 (2024: £43,920).

During the year, there were charges of £146,261 (2024: £108,992) from Andrew Simpson Sailing Foundation in respect of fixed asset usage.

There were grants of £1,382,403 (2024: £667,773) received from Andrew Simpson Sailing Foundation during the year.

At the balance sheet date, the amount due to Andrew Simpson Sailing Foundation was £136,507 (2024: £295,172).