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Registration number: 09869515

Cradoc Golf Club Trading Ltd

Annual Report and

Unaudited Financial Statements


for the Year Ended 31 January 2023

 

Cradoc Golf Club Trading Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Cradoc Golf Club Trading Ltd

Company Information

Directors

Mr N J Morrell

Mr G T Williams

Registered office

Cradoc Golf Club
Penoyre Park
Cradoc
Brecon
Powys
LD3 9LP

 

Bankers

Lloyds Bank
38 High Street
Brecon
Powys
LD3 7AR

Accountants

WJ James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Cradoc Golf Club Trading Ltd

(Registration number: 09869515)

Balance Sheet
as at 31 January 2023

Note

2023
£

2022
£

Current assets

 

Stocks

7,524

6,753

Debtors

4

33,989

23,055

Cash at bank and in hand

 

2,348

30,998

 

43,861

60,806

Creditors: Amounts falling due within one year

5

(43,860)

(60,805)

Net assets

 

1

1

Capital and reserves

 

Called up share capital

6

1

1

Shareholders' funds

 

1

1

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 28 June 2023 and signed on its behalf by:
 

.........................................
Mr N J Morrell
Director

 

Cradoc Golf Club Trading Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Cradoc Golf Club
Penoyre Park
Cradoc
Brecon
Powys
LD3 9LP

These financial statements were authorised for issue by the Board on 28 June 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest £1.

Going concern

The company distributes its entire profit each year to its parent company, Cradoc Golf Club Ltd, under Gift Aid. Consequently, the company has no reserves at the financial year end.

The financial statements have been prepared on the going concern basis as the directors consider that the company will continue to trade profitably for at least 12 momnths from the date of approval of these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, rebates and discounts.

The company recognises revenue when:
(a) the amount of revenue can be reliably measured;
(b) it is probable that future economic benefits will flow to the entity; and
(c) specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

Cradoc Golf Club Trading Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.Trade debtors are recognised at the transaction price.

Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost is determined using the first-in, first-out (FIFO) method.

Stocks of heating fuel are stated at cost price, and stocks of driving range balls are stated at cost less a deduction to reflect their condition.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are recognised at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Cradoc Golf Club Trading Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2023

4

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

798

220

Amounts owed by related parties

7

31,684

20,838

Prepayments

 

1,507

1,997

   

33,989

23,055

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

6,799

2,455

Taxation and social security

29,697

4,226

Accruals and deferred income

5,973

53,355

Other creditors

1,391

769

43,860

60,805

 

Cradoc Golf Club Trading Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

7

Related party transactions

Summary of transactions with parent

The company is a 100% subsidiary of Cradoc Golf Club Ltd.

 Cradoc Golf Club Ltd pays all wages and salaries for the group, meets all running costs of the golf course and pays all administrative expenses of the group. A recharge of the relevant proportion of these expenses is made on a just and reasonable basis. In the current financial year Cradoc Golf Club Ltd received financial support by way of grants from national and local government in respect of the coronavirus pandemic. The proportion of this grant income attributable to the trading activities of Cradoc Golf Club Trading Ltd has been set aginst the expenses recharged.

The company has gift aided its profit for the year to Cradoc Golf Club Ltd, which is a Community Amateur Sports Club.


 Any balance due between the companies is interest free and repayable on demand.
 

Expenditure with and payables to related parties

2023

Parent
£

Rendering of services

177,613

2022

Parent
£

Rendering of services

88,440