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REGISTERED NUMBER: 00203865 (England and Wales)















Financial Statements for the Year Ended 31 December 2021

for

Penwortham Golf Club Limited

Penwortham Golf Club Limited (Registered number: 00203865)

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


Penwortham Golf Club Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: S Fisher
D Brookes
M Simpson
I Parkinson
I Wilson
P Todhunter
S R Coulson
J Heaney


REGISTERED OFFICE: Blundell Lane
Penwortham
Preston
Lancashire
PR1 0AX


REGISTERED NUMBER: 00203865 (England and Wales)


ACCOUNTANTS: ma2 (Blackpool) Limited
288 Church Street
Blackpool
Lancashire
FY1 3QA


BANKERS: The Royal Bank of Scotland
78 Liverpool Road
Penwortham
Preston
PR1 0DQ

Penwortham Golf Club Limited (Registered number: 00203865)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 842,126 846,808

CURRENT ASSETS
Stocks 8,469 5,189
Debtors 5 13,807 17,981
Cash at bank and in hand 336,317 198,312
358,593 221,482
CREDITORS
Amounts falling due within one year 6 386,879 302,973
NET CURRENT LIABILITIES (28,286 ) (81,491 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

813,840

765,317

CREDITORS
Amounts falling due after more than one
year

7

272,135

306,189
NET ASSETS 541,705 459,128

CAPITAL AND RESERVES
Called up share capital 9 1,638 1,638
Retained earnings 10 540,067 457,490
SHAREHOLDERS' FUNDS 541,705 459,128

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

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 profit or loss 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.

Penwortham Golf Club Limited (Registered number: 00203865)

Balance Sheet - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 13 September 2022 and were signed on its behalf by:





D Brookes - Director


Penwortham Golf Club Limited (Registered number: 00203865)

Notes to the Financial Statements
for the Year Ended 31 December 2021


1. STATUTORY INFORMATION

Penwortham Golf Club Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land & buildings - 15% on reducing balance and 2% on cost
Course improvements - on straight line basis
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% Straight Line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Penwortham Golf Club Limited (Registered number: 00203865)

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 10 (2020 - 10 ) .

4. TANGIBLE FIXED ASSETS
Land & Course Plant and
buildings improvements machinery
£    £    £   
COST
At 1 January 2021 737,462 796,074 614,667
Additions - 31,492 56,465
Disposals - - (17,516 )
At 31 December 2021 737,462 827,566 653,616
DEPRECIATION
At 1 January 2021 251,939 614,005 524,616
Charge for year 18,675 24,329 36,458
Eliminated on disposal - - (17,478 )
At 31 December 2021 270,614 638,334 543,596
NET BOOK VALUE
At 31 December 2021 466,848 189,232 110,020
At 31 December 2020 485,523 182,069 90,051

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2021 550,630 68,280 2,767,113
Additions 3,393 575 91,925
Disposals - - (17,516 )
At 31 December 2021 554,023 68,855 2,841,522
DEPRECIATION
At 1 January 2021 473,500 56,245 1,920,305
Charge for year 12,844 4,263 96,569
Eliminated on disposal - - (17,478 )
At 31 December 2021 486,344 60,508 1,999,396
NET BOOK VALUE
At 31 December 2021 67,679 8,347 842,126
At 31 December 2020 77,130 12,035 846,808

Included in cost of land and buildings is freehold land of £ 50,090 (2020 - £ 50,090 ) which is not depreciated.

Penwortham Golf Club Limited (Registered number: 00203865)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors - 8,965
VAT 6,949 -
Prepayments and accrued income 6,858 9,016
13,807 17,981

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 33,392 32,692
Trade creditors 76,918 10,505
Tax 42 38
Social security and other taxes 5,550 3,236
VAT - 8,653
Other creditors 24,480 22,375
Accruals and deferred income 246,497 225,474
386,879 302,973

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans - over one year 272,135 306,189

8. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 305,527 338,881

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
1,638 Ordinary £1 1,638 1,638

Penwortham Golf Club Limited (Registered number: 00203865)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


10. RESERVES
Retained
earnings
£   

At 1 January 2021 457,490
Profit for the year 82,577
At 31 December 2021 540,067