The Association’s long leasehold premises and specialised property are stated 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 £570,000 as at 31st March 2024. 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 2024 valuation was conducted by Vail Williams LLP, Chartered Surveyors.
10. Investment properties
2024. £.
Fair value: At 1 April 2023
Movement during the year At 31 March 2024
570,000. -.
-------------- 570,000.
--------------
2023. £.
620,000. (50,000)
-------------- 570,000.
-------------- The historical cost of investment properties held at fair value is £816,729. The investment property is a long leasehold property.
11. Stock
2024. £.
Finished products Work in progress
372,584. 17,299.
-------------- 389,883.
--------------
Replacement cost is not significantly different to the amounts stated above. Total stock expensed in the year was £540,418 (2023: £562,100).
2023. £.
308,084. 20,554.
-------------- 328,638.
--------------
12. Debtors
2024. £.
Trade debtors Other debtors Prepayments
711,760. 300,764. 1,125,501.
-------------- 2,138,025.
-------------- Other debtors includes £7,418 (2023: £23,784) falling due aſter more than one year.
2023. £.
528,022. 905,408. 658,870.
-------------- 2,092,300.
--------------
RYA Annual Strategic Report 2024
29
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