STOCKSFIELD GOLF CLUB LIMITED

Company limited by guarantee

Company Registration Number:
01274624 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

STOCKSFIELD GOLF CLUB LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

STOCKSFIELD GOLF CLUB LIMITED

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Principal activities of the company

The operation of a Golf Club



Directors

The directors shown below have held office during the whole of the period from
1 April 2022 to 31 March 2023

S PEARSON
S BROWN


The directors shown below have held office during the period of
22 April 2022 to 31 March 2023

T Docking
S CRAM


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
25 July 2023

And signed on behalf of the board by:
Name: S PEARSON
Status: Director

STOCKSFIELD GOLF CLUB LIMITED

Profit And Loss Account

for the Period Ended 31 March 2023

2023 2022


£

£
Turnover: 333,296 354,160
Cost of sales: ( 55,642 ) ( 54,940 )
Gross profit(or loss): 277,654 299,220
Administrative expenses: ( 293,356 ) ( 308,030 )
Other operating income: 15,352
Operating profit(or loss): (15,702) 6,542
Interest payable and similar charges: ( 1,525 ) ( 983 )
Profit(or loss) before tax: (17,227) 5,559
Profit(or loss) for the financial year: (17,227) 5,559

STOCKSFIELD GOLF CLUB LIMITED

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 364,580 343,835
Total fixed assets: 364,580 343,835
Current assets
Stocks: 4 8,024 6,456
Debtors: 5 4,975 0
Cash at bank and in hand: 70,922
Total current assets: 12,999 77,378
Creditors: amounts falling due within one year: 6 ( 150,463 ) ( 156,739 )
Net current assets (liabilities): (137,464) (79,361)
Total assets less current liabilities: 227,116 264,474
Creditors: amounts falling due after more than one year: 7 ( 23,274 ) ( 33,206 )
Provision for liabilities: ( 23,871 ) ( 34,069 )
Total net assets (liabilities): 179,971 197,199
Members' funds
Profit and loss account: 179,971 197,199
Total members' funds: 179,971 197,199

The notes form part of these financial statements

STOCKSFIELD GOLF CLUB LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 25 July 2023
and signed on behalf of the board by:

Name: S PEARSON
Status: Director

The notes form part of these financial statements

STOCKSFIELD GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The Turnover shown in the Profit and Loss Account represents amounts receivable during the year exclusive of Value Added Tax.

    Tangible fixed assets depreciation policy

    Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows :-Course Improvements and Machinery - 5% - 20% per annum - Straight Line and 10% - 33% per annum - Reducing BalanceFixtures & Fittings - 20% per annum - Reducing Balance

    Other accounting policies

    Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the Profit and Loss Account on a straight line basis.Finance Lease Agreements - Where the Company enters into a lease which entails taking substantially all the risks and rewards ofownership of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated in accordance with the above depreciation policies. Future instalments under such leases, net of finance charges, are included with creditors. Rentals payable are apportioned net of finance charges, are included with creditors. Rentals payable are apportioned between the finance element, which is charged to the Profit and Loss Account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.Operating Lease Agreements - Rentals applicable to operating leases where substantially all of the benefits and risks of ownershipremain with the lessor are charged against profits on a straight line basis over the period of the lease.Pension Costs - The Company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Company. The annual contributions payable are charged to the Profit and Loss Account.Members' Funds - In accordance with the Club rules the Members' Funds represent restricted funds such that the income and property of the club shall be applied solely towards the objects of the Club and no amounts shall be distributed to the Members by way of dividend or bonus or on a winding up. In the event of a winding up any surplus assets shall be distributed to another Community Amateur Sports Club or other recognised charity. Grants - Grants received of a revenue nature are credited to the Profit and Loss Account as other operating income so as to match them with the expenditure to which they relate.

STOCKSFIELD GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 3

STOCKSFIELD GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2022 288,515 309,741 72,066 670,322
Additions 28,794 28,794
Disposals
Revaluations
Transfers
At 31 March 2023 317,309 309,741 72,066 699,116
Depreciation
At 1 April 2022 0 260,802 65,685 326,487
Charge for year 1,440 6,009 600 8,049
On disposals
Other adjustments
At 31 March 2023 1,440 266,811 66,285 334,536
Net book value
At 31 March 2023 315,869 42,930 5,781 364,580
At 31 March 2022 288,515 48,939 6,381 343,835

STOCKSFIELD GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Stocks

2023 2022
£ £
Stocks 8,024 6,456
Total 8,024 6,456

STOCKSFIELD GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Debtors

2023 2022
£ £
Other debtors 4,975 0
Total 4,975 0

STOCKSFIELD GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 9,932 9,687
Other creditors 140,531 147,052
Total 150,463 156,739

STOCKSFIELD GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

7. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 23,274 33,206
Total 23,274 33,206

STOCKSFIELD GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

8. Financial Commitments

COMMITMENTS UNDER OPERATING LEASESOperating leases which expire :- 2023 2022 Within 1 year - £18382 - £10601 Within 2 to 5 years - £51757 - £22106 Total £70139 - £32707