Company No: 03095291 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	6,439,754		6,511,598
Investments	4	32,000		32,000
		6,471,754		6,543,598
Current assets
Debtors	5	11,670		11,670
Cash at bank and in hand		527		280
		12,197		11,950
Creditors: amounts falling due within one year	6	( 45,347)		( 43,477)
Net current liabilities		(33,150)		(31,527)
Total assets less current liabilities		6,438,604		6,512,071
Creditors: amounts falling due after more than one year	7	( 2,360,057)		( 2,384,177)
Provision for liabilities		( 432,878)		( 432,878)
Net assets		3,645,669		3,695,016
Reserves
Fair value reserve		3,962,960		3,988,296
Profit and loss account		( 317,291 )		( 293,280 )
Total reserves		3,645,669		3,695,016

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Mount Batten Sailing and Water Sports Centre (registered number: 03095291) were approved and authorised for issue by the Board of Directors on 11 November 2025. They were signed on its behalf by:

Mrs M E Manning Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mount Batten Sailing and Water Sports Centre (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 70 Lawrence Road, Mount Batten Plymstock, Plymouth, PL9 9SJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net assets of £3,645,669. The directors will continue to review cashflow requirements for the company and, if needed, organise loans from external sources. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

In accordance with FRS102, leasehold land and buildings are included in the financial statements at a valuation being their depreciated replacement values. An external expert performs a valuation periodically with the directors performing an interim valuation on an annual basis. When the fair value of the property is revalued above the cost the aggregate surplus or deficit on revaluation is recognised in the profit and loss and transferred to the fair value reserve.

No depreciation is provided on the company's freehold land.

The expected useful economic life of the leasehold land and buildings is, in the opinion of the directors 125 years, being the length of the lease. The rate has determined that the land and buildings have an expected useful life that will be fully utilised in the accounting year end of 2124.

In accordance with FRS102, the depreciation associated with the revalued element of the leasehold land and buildings is transferred between the profit and loss account reserve and the fair value reserve.

Land and buildings	depreciated over the life of the lease
Fixtures and fittings	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Government grants

The capital based government grant is included within other creditors within the balance sheet and is released to the profit and loss account over the useful economic life of the asset to which it relates.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

The directors received no remuneration from the company during the year.

3. Tangible assets

	Land and buildings		Fixtures and fittings		Total
	£		£		£
Cost
At 01 January 2024	6,800,500		429,510		7,230,010
At 31 December 2024	6,800,500		429,510		7,230,010
Accumulated depreciation
At 01 January 2024	298,712		419,700		718,412
Charge for the financial year	66,672		5,172		71,844
At 31 December 2024	365,384		424,872		790,256
Net book value
At 31 December 2024	6,435,116		4,638		6,439,754
At 31 December 2023	6,501,788		9,810		6,511,598

4. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	32,000
At 31 December 2024	32,000
Carrying value at 31 December 2024	32,000
Carrying value at 31 December 2023	32,000

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Mount Batten Park Limited, registered in England and Wales, 100% ordinary shareholding in 2023 and 2024. The principal activity of Mount Batten Park Limited is that of a function and events venue.

5. Debtors

	2024		2023
	£		£
Amounts owed by Group undertakings	11,670		11,670

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Accruals and deferred income	25,683		25,608
Other creditors	19,664		17,869
	45,347		43,477

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Deferred income	2,360,057		2,384,177

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

Mount Batten Centre Charity Trust
The building used by the trust is owned by Mount Batten Sailing and Water Sports Centre, the holding company of Mount Batten Park Limited. During the year the trust paid expenses of £1,795 (2023: £3,819) on behalf of Mount Batten Sailing and Water Sports Centre, at the year end £19,664 (2023: £17,869) was due to the trust.

Mount Batten Park Ltd
Mount Batten Park Limited, a 100% subsidiary of Mount Batten Sailing and Water Sports Centre, received a loan in 2023 which is secured over property owned by Mount Batten Sailing and Water Sports Centre. At the balance sheet date, the total secured balance on this loan was £350,000 (2023: £350,000).

Summary of transactions with subsidiaries

The company has taken advantage of the exemption in FRS 102 'Related Party Disclosures' from disclosing transactions with other wholly owned members of the group.