Company registration number 04824515 (England and Wales)
FINEMOSS LIMITED T/A ROOKWOOD GOLF COURSE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
FINEMOSS LIMITED T/A ROOKWOOD GOLF COURSE
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
FINEMOSS LIMITED T/A ROOKWOOD GOLF COURSE
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2022
31 December 2022
2022
2021
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
90,018
61,421
Current assets
Inventories
4
12,568
21,884
Trade and other receivables
5
646,560
1,037,222
Cash and cash equivalents
6,657
9,381
665,785
1,068,487
Current liabilities
6
(1,038,974)
(1,367,627)
Net current liabilities
(373,189)
(299,140)
Total assets less current liabilities
(283,171)
(237,719)
Provisions for liabilities
(18,200)
(7,700)
Net liabilities
(301,371)
(245,419)
Equity
Called up share capital
7
100
100
Retained earnings
(301,471)
(245,519)
Total equity
(301,371)
(245,419)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 29 September 2023 and are signed on its behalf by:
Mr E P Blacker
Mr L J Blacker
Director
Director
Company registration number 04824515 (England and Wales)
- 1 -
FINEMOSS LIMITED T/A ROOKWOOD GOLF COURSE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
Company information

Finemoss Limited t/a Rookwood Golf Course is a private company limited by shares incorporated in England and Wales. The registered office is Slinfold Golf & Country Club, Stane Street, Slinfold, Horsham, West Sussex, RH13 0RE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

As at 31 December 2022 the statement of financial position showed net current liabilities of £373,189 (2021 - £299,140). The company is able to operate with negative working capital because most of its income is either received upon delivery or in advance. The company meets its working capital requirements by way of a loan from a fellow group member and there is no expectation that the balance owed to this company will become payable in the next 12 months.

 

The financial statements have been prepared on a going concern basis. The directors have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment.

 

Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty in relation to the appropriateness of continuing to adopt the going concern basis in preparing the annual report and accounts.

1.3
Revenue

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance from the rendering of services and sale of goods. Revenue is measured at fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty.

 

The following criteria must also be met before revenue is recognised:

 

Membership income is accounted for on a time basis. Such income and deposits received relating to future accounting periods is treated as a creditor and recorded as turnover in the period to which it relates.

 

Green fees, bar and restaurant income, and other income is recognised at the time the goods are sold or the service is delivered.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

- 2 -
FINEMOSS LIMITED T/A ROOKWOOD GOLF COURSE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Course and buildings improvements
20% diminishing balance
Plant and machinery
20% diminishing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of non-current assets

At each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss if any.

1.6
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

1.8
Financial assets and liabilities

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties.

 

Debt instruments like other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable within one year are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity. Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

- 3 -
FINEMOSS LIMITED T/A ROOKWOOD GOLF COURSE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.12
Retirement benefits

The company operates a defined contribution pension scheme for the benefit of its employees. Contributions payable are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

1.14
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

2
Employees

The average monthly number of persons employed by the company during the year was:

2022
2021
Number
Number
Administration
1
1
Food and beverage
12
23
Greenkeeping
5
5
Pro shop
3
3
21
32
- 4 -
FINEMOSS LIMITED T/A ROOKWOOD GOLF COURSE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
3
Property, plant and equipment
Course and building improvements
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2022
43,923
303,342
347,265
Additions
11,680
32,497
44,177
At 31 December 2022
55,603
335,839
391,442
Depreciation and impairment
At 1 January 2022
31,326
254,518
285,844
Depreciation charged in the year
3,143
12,437
15,580
At 31 December 2022
34,469
266,955
301,424
Carrying amount
At 31 December 2022
21,134
68,884
90,018
At 31 December 2021
12,597
48,824
61,421
4
Inventories
2022
2021
£
£
Inventories
12,568
21,884
5
Trade and other receivables
2022
2021
Amounts falling due within one year:
£
£
Trade receivables
9,206
5,213
Amounts owed by group undertakings
542,681
415,480
Other receivables
32,423
497,779
584,310
918,472
Deferred tax asset
62,250
118,750
646,560
1,037,222
- 5 -
FINEMOSS LIMITED T/A ROOKWOOD GOLF COURSE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
6
Current liabilities
2022
2021
£
£
Trade payables
40,163
147,637
Amounts owed to group undertakings
879,923
1,035,021
Taxation and social security
4,737
138,402
Other payables
114,151
46,567
1,038,974
1,367,627
7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Robin Evans BA FCA CTA.
The auditor was Carpenter Box.
Carpenter Box is a trading name of Carpenter Box Limited.
9
Financial commitments, guarantees and contingent liabilities

The company has given a debenture over all its assets to support a loan obtained by a fellow group undertaking. There is also a cross guarantee between this company, Ensign Leisure Limited and British Ensign Golf Limited.

10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2022
2021
£
£
Within one year
55,000
55,000
Between two and five years
123,750
178,750
178,750
233,750
- 6 -
FINEMOSS LIMITED T/A ROOKWOOD GOLF COURSE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
11
Related party transactions

Included within other receivables is an amount due of £nil (2021 - £459,454) which is a loan made to a related party, a company in which the ex-director Mr P G Blacker is a director and majority shareholder. No interest is payable on the loan and there is no fixed repayment date.

12
Parent company

The immediate and ultimate parent company is British Ensign Golf Limited, a company controlled by its directors and no one party has ultimate control.

 

British Ensign Golf Limited prepares consolidated financial statements and copies can be obtained from Companies House. The registered office of British Ensign Golf Limited is Slinfold Golf & Country Club, Stane Street, Slinfold, Horsham, West Sussex, RH13 0RE.

- 7 -
2022-12-312022-01-01false29 September 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedMr E P BlackerMr L J Blacker048245152022-01-012022-12-31048245152022-12-31048245152021-12-3104824515core:LandBuildings2022-12-3104824515core:OtherPropertyPlantEquipment2022-12-3104824515core:LandBuildings2021-12-3104824515core:OtherPropertyPlantEquipment2021-12-3104824515core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3104824515core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3104824515core:CurrentFinancialInstruments2022-12-3104824515core:CurrentFinancialInstruments2021-12-3104824515core:ShareCapital2022-12-3104824515core:ShareCapital2021-12-3104824515core:RetainedEarningsAccumulatedLosses2022-12-3104824515core:RetainedEarningsAccumulatedLosses2021-12-3104824515bus:Director12022-01-012022-12-3104824515bus:Director22022-01-012022-12-3104824515core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-01-012022-12-3104824515core:PlantMachinery2022-01-012022-12-31048245152021-01-012021-12-3104824515core:LandBuildings2021-12-3104824515core:OtherPropertyPlantEquipment2021-12-31048245152021-12-3104824515core:LandBuildings2022-01-012022-12-3104824515core:OtherPropertyPlantEquipment2022-01-012022-12-3104824515core:WithinOneYear2022-12-3104824515core:WithinOneYear2021-12-3104824515core:BetweenTwoFiveYears2022-12-3104824515core:BetweenTwoFiveYears2021-12-3104824515bus:PrivateLimitedCompanyLtd2022-01-012022-12-3104824515bus:SmallCompaniesRegimeForAccounts2022-01-012022-12-3104824515bus:FRS1022022-01-012022-12-3104824515bus:Audited2022-01-012022-12-3104824515bus:FullAccounts2022-01-012022-12-31xbrli:purexbrli:sharesiso4217:GBP