ROYAL CORINTHIAN YACHT CLUB LIMITED,Ltd - Accounts

ROYAL CORINTHIAN YACHT CLUB LIMITED,Ltd - Accounts

ROYAL CORINTHIAN YACHT CLUB LIMITED - Company Information

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2013-10-01 true false Private Limited Company 00248362 2014-09-30 00248362 2013-10-01 2014-09-30 00248362 2013-09-30 00248362 2012-10-01 2013-09-30 00248362 uk-bus:Director1 2013-10-01 2014-09-30 00248362 uk-bus:Director2 2013-10-01 2014-09-30 00248362 uk-gaap:Buildings 2013-10-01 2014-09-30 00248362 uk-gaap:FixturesFittings 2013-10-01 2014-09-30 00248362 uk-gaap:OtherTangibleFixedAssets 2013-10-01 2014-09-30 00248362 uk-gaap:PlantMachinery 2013-10-01 2014-09-30 00248362 uk-gaap:ToolsEquipment 2013-10-01 2014-09-30 iso4217:GBP
ROYAL CORINTHIAN YACHT CLUB LIMITED
For the year ended 30 September 2014
England and Wales
Registered Number: 00248362
2
Contents Page
ROYAL CORINTHIAN YACHT CLUB LIMITED
For the year ended 30 September 2014
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
ROYAL CORINTHIAN YACHT CLUB LIMITED
Accountants' Report
For the year ended 30 September 2014
As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 30 September
2014 and you consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory
responsibilities, from the accounting records and information and explanations supplied to us.
M & L Partnership
1st Floor County House
Robert Way
Wickford
Essex
SS11 8BN
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4
Abbreviated Balance Sheet
ROYAL CORINTHIAN YACHT CLUB LIMITED
As at 30 September 2014
00248362
Registered Number :
£
£
2014
Notes
2013
Fixed assets
Tangible assets
2
967,032
1,006,506
967,032
1,006,506
Current assets
Stocks
11,058
9,278
Debtors
32,014
27,878
Cash at bank and in hand
144,966
227,587
182,122
270,659
Creditors: amounts falling due within one year
(119,430)
(92,290)
151,229
89,832
Net current assets
Total assets less current liabilities
1,056,864
1,157,735
1,056,864
Net assets
1,157,735
Capital and reserves
Revaluation reserve
559,056
547,875
Profit and loss account
508,989
598,679
1,056,864
1,157,735
Members' Funds
For the year ended 30 September 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Date approved by the board: 22 December 2014
K R Allen Director
Signed on behalf of the board of directors
T E Howard Director
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Notes to the Abbreviated Financial Statements
ROYAL CORINTHIAN YACHT CLUB LIMITED
For the year ended 30 September 2014
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
2% Per annum on cost
Plant and Machinery
20% per annum on cost
Pontoon
20% Reducing balance
Lift
20% Reducing balance
Catering Equipment
15% per annum on cost
The company's freehold properties are revalued in full every five years. Interim valuations are carried out when it is likely that there has been
a material change in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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6
Notes to the Abbreviated Financial Statements
ROYAL CORINTHIAN YACHT CLUB LIMITED
For the year ended 30 September 2014
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
1,431,121
At 01 October 2013
15,240
Additions
At 30 September 2014
1,446,361
Depreciation
424,615
At 01 October 2013
54,714
Charge for year
479,329
At 30 September 2014
Net book values
At 30 September 2014
967,032
1,006,506
At 30 September 2013
3 Company limited by guarantee
The company is limited by guarantee and therefore has no shares
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