REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
BRAINTREE GOLF CLUB LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
BRAINTREE GOLF CLUB LIMITED |
BRAINTREE GOLF CLUB LIMITED (REGISTERED NUMBER: 00960485) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BRAINTREE GOLF CLUB LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
The Maltings |
Rosemary Lane |
Halstead |
Essex |
CO9 1HZ |
BRAINTREE GOLF CLUB LIMITED (REGISTERED NUMBER: 00960485) |
BALANCE SHEET |
31 DECEMBER 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
RESERVES |
Club section reserves |
Cyclical maintenance reserves |
Income and expenditure account |
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. |
BRAINTREE GOLF CLUB LIMITED (REGISTERED NUMBER: 00960485) |
BALANCE SHEET - continued |
31 DECEMBER 2021 |
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 |
BRAINTREE GOLF CLUB LIMITED (REGISTERED NUMBER: 00960485) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
1. | STATUTORY INFORMATION |
Braintree Golf Club Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Recognition of income |
All income is credited to the financial statements on the basis of the amount due and receivable within the year. |
Tangible fixed assets |
Tangible fixed assets are capitalised and included at cost including where applicable irrecoverable Value Added Tax. |
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over the shorter of their expected useful economic lives and the term of the lease as follows: |
Freehold Land | - Nil |
Freehold Buildings: |
Clubhouse Buildings | - over 50 years |
Greenkeepers Buildings | - over 20 years |
Fairway Renovation | - over 10 years |
Machinery and Equipment: |
Course Irrigation System | - over 20 years |
Other Machinery and Equipment | - between 5 and 10 years |
Furniture and Office Equipment | - between 3 and 5 years |
Value added tax |
The club is partially exempt for value added tax purposes. Income and expenditure are stated net of value added tax. Irrecoverable value added tax on revenue expenditure is shown as a separate item in the Profit and Loss Account. Irrecoverable value added tax on capital expenditure has been added to the cost of the relevant asset and capitalised. |
Taxation |
The company is liable to Corporation Tax on interest receivable, rental income, other investment income and capital gains but is able to claim some relief from this as it holds Community Amateur Sports Club status. Full provision has been made in the financial statements based on the company's expected taxation liability on this income. |
Income derived from transactions with members is not liable to taxation in accordance with the mutuality principal. |
Net income derived from non members in respect of green fees, bar and catering income etc is liable to taxation. Following negotiations with HM Revenue and Customs concerning the quantum of liability, it has been agreed that such net income will be dealt with on a nil profits/nil losses basis and that this treatment will continue in the future provided there are no significant changes in the company's dealings with non members. |
Charity funds |
The club administers the receipts and payments on behalf of the Captain's charity and the Ladies' charity. These charity funds are not part of the club funds and are therefore not disclosed within the club's profit and loss account. Amounts held on behalf of the charities at the year end are included within accruals and deferred income. |
BRAINTREE GOLF CLUB LIMITED (REGISTERED NUMBER: 00960485) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Furniture |
Machinery | and |
Freehold | and | office |
property | equipment | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2021 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
BRAINTREE GOLF CLUB LIMITED (REGISTERED NUMBER: 00960485) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
Bank Loans | - | 19,985 |
The bank loan and overdraft are secured by a legal charge over the freehold land and property of the Club. |