8. TAXATION UK corporation tax
Corporation tax under/(over) provision in previous years Deferred taxation
2021 £
-
15,136 809
15,945 Surplus on ordinary activities before tax
Surplus on ordinary activities multiplied by the standard rate of UK corporation tax of 19% (2020: 19%)
Effects of:
Amounts not taxable Fixed asset differences
Short-term timing differences Amount relating to prior year Total tax charge
176,123 75,704 (2,754) 15,136 15,945
(26,956) 70,300 (1,155) 647
50,748 (1,306,655) (248,264)
2020 £
40,728 647
9,373 50,748 41,641 7,912
9. TANGIBLE FIXED ASSETS
Long leasehold premises
£ Cost
At 1st April 2020 Additions Disposals
At 31st March 2021
Depreciation At 1st April 2020 Change for year On disposals
At 31st March 2021 Net book value
At 31st March 2021 At 31st March 2020
2,299,126 2,359,608
2,955,565 3,033,342
754,663 577,859
6,009,354 5,970,809
The Association’s long leasehold premises and specialised property are stated above at deemed cost. It should be noted that as at 31st March 2019 one of the two long leasehold properties in Hamble was valued at £2,000,000 at open market value, the second property has an updated desktop value of £560,000 as at 31st March 2021. The specialised property in Portland was valued at £3,280,000 at open market value. All valuations were carried out by Lambert Smith Hampton, Chartered Surveyors.
RYA ANNUAL REPORT AND ACCOUNTS 2021 25
2,722,500 - -
2,722,500
362,892 60,482 -
423,374
3,500,000 - -
3,500,000
466,658 77,777 -
544,435
2,570,445 528,113
(124,638) 2,973,920
1,992,586 304,668 (77,997)
2,219,257
8,792,945 528,113
(124,638) 9,196,420
2,822,136 442,927 (77,997)
3,187,066
Specialised property
£ Fixtures,
fittings, vehicles & equipment £
Total £
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