For the financial year ended 30 June 2026 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 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.

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 income and expenditure account within the financial statements.true

In the application of the company’s accounting policies, the directors are required to make judgements, 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.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Subscriptions in advance are calculated and deferred within the accounts based on the date which the members joined. A record of members and date of fees paid is maintained and therefore estimation uncertainty is considered to be low risk.

The Cruising Association is a private company limited by guarantee incorporated in England and Wales. The registered office is CA House, 1 Northey Street, Limehouse Basin, London, E14 8BT.

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, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Income and expenses are included in the financial statements as they become receivable or due.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

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 surplus or deficit.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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).

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

Financial assets comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt.

Investments, including those in subsidiary undertakings are held at fair value at the balance sheet date, with gains and losses being recognised within income and expenditure.

Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

The costs of short-term employee benefits are recognised as a liability and an expense.

The average monthly number of persons employed by the company during the year was 15 (2025 - 13).

Land and buildings are not depreciated as the directors consider that the market value is in excess of the carrying amount at the period end.

Fixed asset investments represents the listed investments shown at their fair value of £525,031 (2025: £414,870) and the Association's library. Due to the nature of of the content of the library it is included in the accounts at its historical value of £10,000 (2025: £10,000), a value the directors consider to be reasonable.

The carrying amount of financial assets represents the fair value of the Association's investment portfolio.

The directors have estimated that £5,000 (2025: £5,000) of the property bonds are repayable within one year leaving £36,900 (2025: £37,300) outstanding as a longer term liability.

The fair value reserve represents unrealised gains and losses arising from the remeasurement of securities managed by Evelyn Partners. In accordance with the applicable financial reporting framework, all fair value movements are recognised through the profit and loss account.

The liability of members is limited. Every member of the Association agrees to contribute £1 or any smaller amount required if:-

-The Association is wound up while he or she is a member or within a year afterwards; and

-The Association has debts and liabilities which it cannot meet out of its assets.