REGISTERED NUMBER: 05372495 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2025

for

Royal Southern Yacht Club Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs C Barber

Mrs B N Curtis

M D Greenaway

R J Konarek

R Llewellin

M N Richardson

Mrs L Rochford

C Russell

REGISTERED OFFICE:

Rope Walk

Hamble

Southampton

Hampshire

SO31 4HB

REGISTERED NUMBER:

05372495 (England and Wales)

ACCOUNTANTS:

Roches

Chartered Accountants

1 Manor Court

6 Barnes Wallis Road

Segensworth

Fareham

Hampshire

PO15 5TH

FIXED ASSETS

Intangible assets

4

1,093

1,298

Tangible assets

5

2,789,210

2,932,092

2,790,303

2,933,390

CURRENT ASSETS

Stocks

36,140

41,657

Debtors

6

115,775

131,122

Cash at bank and in hand

510,400

276,672

662,315

449,451

CREDITORS

Amounts falling due within one year

7

782,864

800,844

NET CURRENT LIABILITIES

(120,549

)

(351,393

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,669,754

2,581,997

CREDITORS

Amounts falling due after more than one year

8

(1,467,585

)

(1,516,612

)

PROVISIONS FOR LIABILITIES

(36,000

)

(24,000

)

NET ASSETS

1,166,169

1,041,385

RESERVES

Other reserves

58,583

61,765

Income and expenditure account

1,107,586

979,620

1,166,169

1,041,385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2025 and were signed on its behalf by:

M N Richardson - Director

1.	STATUTORY INFORMATION

Royal Southern Yacht Club Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Over the term of the lease

Plant and machinery

-

20% on cost, 15% on cost, 10% on cost, 5% on cost and 4% on cost

Fixtures and fittings

-

20% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Financial assets & financial liabilities are initially recognised at the transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. However, if the arrangement constitutes a financing transaction then it is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets & financial liabilities classified as receivable within one year are not amortised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2024 - 54 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 September 2024

and 31 August 2025

2,050

AMORTISATION

At 1 September 2024

752

Charge for year

205

At 31 August 2025

957

NET BOOK VALUE

At 31 August 2025

1,093

At 31 August 2024

1,298

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 September 2024

3,031,531

1,183,842

994,468

5,209,841

Additions

-

6,816

11,779

18,595

At 31 August 2025

3,031,531

1,190,658

1,006,247

5,228,436

DEPRECIATION

At 1 September 2024

708,715

760,130

808,904

2,277,749

Charge for year

46,361

67,649

47,467

161,477

At 31 August 2025

755,076

827,779

856,371

2,439,226

NET BOOK VALUE

At 31 August 2025

2,276,455

362,879

149,876

2,789,210

At 31 August 2024

2,322,816

423,712

185,564

2,932,092

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade debtors

43,901

84,069

Other debtors

71,874

47,053

115,775

131,122

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans and overdrafts

8,720

9,788

Trade creditors

135,525

148,889

Taxation and social security

70,796

64,624

Other creditors

567,823

577,543

782,864

800,844

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans

-

9,179

Other creditors

1,467,585

1,507,433

1,467,585

1,516,612

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.25

31.8.24

£

£

Bank loans

8,720

18,967

The bank borrowing is secured by a fixed and floating charge over the undertaking and all property and assets present and future.

10.	OTHER FINANCIAL COMMITMENTS

The company has provided a guarantee to secure the liability in respect of the bank loan owed by Rope Walk Hamble Limited up to a limit of £1,654,000. At 31st August 2025, the amount outstanding on that bank loan was £1,606,739 (previous bank loan balance as at 31st August 2024: £1,647,825).

As at the year end, the company had obligations totalling £1,374,747 (2024: £1,294,885) in respect of non-cancellable operating leases.

11.	RELATED PARTY DISCLOSURES

The company leases its premises from Rope Walk Hamble Limited and during the year rent of £4,144 (2024: £4,003) was paid.

Other Creditors includes a loan from Rope Walk Hamble Limited to Royal Southern Yacht Club Limited and the balance owing in respect of this loan as at 31st August 2025 is £1,238,858 (2024: £1,296,580). Of this amount, £78,273 (2024: £96,148) is repayable within one year and £1,160,585 (2024: £1,200,432) is repayable after more than one year.

During the year, the company has paid interest totalling £115,223 (2024: £126,155) and expenses totalling £3,725 (2024: £16,653 credit) to Rope Walk Hamble Limited.