8. TAXATION UK corporation tax


Corporation tax under/(over) provision in previous years Deferred taxation


2022 £


52,557 -


24,710 77,267


Surplus on ordinary activities before tax


Surplus on ordinary activities multiplied by the standard rate of UK corporation tax of 19% (2021: 19%)


Effects of:


Amounts not taxable Fixed asset differences


Short-term timing differences Amount relating to prior year


Remeasurement of deferred tax due to change in tax rate Total tax charge


(139,338) 79,118


(12,091) -


32,236 77,267


176,123 75,704 (2,754) 15,136


- 15,945 617,591 117,342


2021 £


-


15,136 809


15,945 (1,306,655) (248,264)


9. TANGIBLE FIXED ASSETS


Long leasehold premises


£ Cost


At 1st April 2021 Additions Disposals


At 31st March 2022


Depreciation At 1st April 2021 Change for year On disposals


At 31st March 2022 Net book value


At 31st March 2022 At 31st March 2021


2,238,645 2,299,126


2,877,788 2,955,565


656,739 754,663


5,773,172 6,009,354


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 £620,000 as at 31st March 2022. As at 31st March 2019 the specialised property in Portland was valued at £3,280,000 at open market value. All 2019 valuations were carried out by Lambert Smith Hampton, Chartered Surveyors. The 2022 valuation was conducted by Vail Williams LLP, Chartered Surveyors.


RYA ANNUAL REPORT AND ACCOUNTS 2022 25


2,722,500 - -


2,722,500


423,374 60,481 -


483,855


3,500,000 - -


3,500,000


544,435 77,777 -


622,212


2,973,920 255,147


(155,126) 3,073,941


2,219,257 333,491


(135,546) 2,417,202


9,196,420 255,147


(155,126) 9,296,441


3,187,066 471,749


(135,546) 3,523,269


Specialised property


£ Fixtures,


fittings, vehicles & equipment £


Total £


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