Company Registration No. 00835158 (England and Wales)
GILLINGHAM GOLF CLUB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
IDS Chartered Accountants LLP
23/25 Queen Street
COLERAINE
Co Londonderry
BT52 1BG
GILLINGHAM GOLF CLUB LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GILLINGHAM GOLF CLUB LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
30 June 2023
31 December 2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
771,434
838,593
Investments
4
100
100
771,534
838,693
Current assets
Stocks
12,288
10,400
Debtors
6
69,198
68,563
Cash at bank and in hand
364,796
207,805
446,282
286,768
Creditors: amounts falling due within one year
7
(406,306)
(342,834)
Net current assets/(liabilities)
39,976
(56,066)
Total assets less current liabilities
811,510
782,627
Creditors: amounts falling due after more than one year
8
(285,413)
(358,874)
Net assets
526,097
423,753
Reserves
Income and expenditure account
526,097
423,753
Members' funds
526,097
423,753

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

For the financial period ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

GILLINGHAM GOLF CLUB LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 September 2023 and are signed on its behalf by:
M O'Sullivan
L Tanton
Director
Director
Company registration number 00835158 (England and Wales)
GILLINGHAM GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

Gillingham Golf Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Woodlands Road, GILLINGHAM, Kent, ME7 2AP.

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 £.

The financial statements have been prepared under the historical cost convention.

1.2
Going concern

The accounts have been prepared on the assumption that the company is able to carry on business as a going concern.true

1.3
Reporting period

The financial statements are prepared for the 18 months ended 30 June 2023.

1.4
Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Leasehold property
over the remaining life of the lease
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
New sprinkler system
5% straight line
1.6
Fixed asset investments

Investments are stated at cost, subject to review for impairment.

1.7
Stocks

Stock is valued at the lower of cost and net realisable value. Cost is defined as that expenditure which has been incurred in bringing the product/service to its present location and condition. Net realisable value is based on normal selling price, less further costs expected to be incurred to completion and disposal.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

GILLINGHAM GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.8
Taxation

The yearly charge for taxation is based on the profit for the year and is calculated with reference to the tax rates applying at the balance sheet date.

1.9
Pensions 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 the profit and loss account in the period to which they relate.

1.10
Leases

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

1.11

Life members’ subscriptions

Life membership subscriptions received during the year are placed to a deferred income account and amounts will be transferred as income to the profit and loss account over a period of ten years. The amounts still to be transferred are split between those to be transferred within one year and those to be transferred after one year.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

GILLINGHAM GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2022
1,301,421
718,201
2,019,622
Additions
-
0
17,660
17,660
Disposals
-
0
(50,764)
(50,764)
At 30 June 2023
1,301,421
685,097
1,986,518
Depreciation and impairment
At 1 January 2022
549,847
631,182
1,181,029
Depreciation charged in the period
39,628
33,361
72,989
Eliminated in respect of disposals
-
0
(38,934)
(38,934)
At 30 June 2023
589,475
625,609
1,215,084
Carrying amount
At 30 June 2023
711,946
59,488
771,434
At 31 December 2021
751,574
87,019
838,593
4
Fixed asset investments
2023
2021
£
£
Other investments other than loans
100
100
5
Subsidiaries

Details of the company's subsidiaries at 30 June 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Gillingham Clubhouse Ltd
England
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Gillingham Clubhouse Ltd
(157,372)
(84,872)
GILLINGHAM GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 6 -
6
Debtors
2023
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
47,919
51,720
Other debtors
21,279
16,843
69,198
68,563
7
Creditors: amounts falling due within one year
2023
2021
£
£
Bank loans
64,755
56,566
Trade creditors
29,138
17,691
Taxation and social security
4,465
4,951
Other creditors
307,948
263,626
406,306
342,834
8
Creditors: amounts falling due after more than one year
2023
2021
£
£
Bank loans and overdrafts
279,683
358,874
Other creditors
5,730
-
0
285,413
358,874
9
Members' liability

The company is limited by guarantee not having a share capital. Every member undertakes to contribute to the assets of the Club, in the event of it being wound up while he is a Member, or within one year afterwards, for the payment of debts and liabilities of the Club contracted before he ceases to be a Member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required not exceeding One Pound.

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