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REGISTERED NUMBER: 00758628 (England and Wales)






















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

GATHURST GOLF CLUB LIMITED

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


GATHURST GOLF CLUB LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: M Jordan
H Thomas
I White
I R D Thompson
A Davies
G Gane
D Leyland
P Lomax





REGISTERED OFFICE: Miles Lane
Shevington
Wigan
Lancashire
WN6 8EW





REGISTERED NUMBER: 00758628 (England and Wales)





AUDITORS: Fairhurst
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

STATEMENT OF FINANCIAL POSITION
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,695,178 1,687,914

CURRENT ASSETS
Stocks 4,858 4,303
Debtors 5 61,774 60,746
Cash at bank and in hand 503,019 477,990
569,651 543,039
CREDITORS
Amounts falling due within one year 6 513,258 477,375
NET CURRENT ASSETS 56,393 65,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,751,571

1,753,578

CREDITORS
Amounts falling due after more than one
year

7

(205,685

)

(243,748

)

PROVISIONS FOR LIABILITIES (77,996 ) (79,875 )
NET ASSETS 1,467,890 1,429,955

CAPITAL AND RESERVES
Called up share capital 10 87,300 90,360
Revaluation reserve 11 494,561 494,561
Retained earnings 11 886,029 845,034
SHAREHOLDERS' FUNDS 1,467,890 1,429,955

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 20 October 2023 and were signed on its behalf by:





G Gane - Director


GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Gathurst 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 as modified by the revaluation of certain assets.

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 prior period reporting date was extended to eighteen months so as to fall in line with the golf subscription year. The comparative amounts in the financial statements (including the related notes) are therefore not entirely comparable with the previous year due to the extended period.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover
Turnover represents income from membership subscriptions, bar income, green fees, competition fees, room hire fees and sundry income such as that generated from buggy shed hire and snooker tables and is stated exclusive of VAT; where appropriate.

Income from membership income is recognised evenly over the accounting period which it falls into.

Income from bar sales is recognised at the point that the customer receives the goods.

Income from green fees and competition fees are recognised at the point at which the customer receives the service.

Room hire fees are recognised at the point at which the event is held.

Sundry income is usually recognised at the point at which the service is provided.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation, less depreciation and impairment write downs.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold land & buildings - 2% straight line (excluding land)
Improvements to property - 10% straight line
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Upon transition to FRS 102 the directors elected to treat the valuation of land and buildings, obtained in June 2015, which represents fair value, as deemed cost of land and buildings at the date of transition.

Stocks
Bar stocks have been valued independently by professional stock takers and have been stated at the lower of cost and net estimated selling price.

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments.

The following assets and liabilities are classified as financial instruments; bank accounts, trade debtors, bank loans, hire purchase agreements, trade creditors and accruals

Financial instruments that are payable or receivable within one year; typically bank account, trade debtors, trade creditors and accruals are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received.

Financial instruments repayable in more than one year such as bank loans and hire purchase agreements are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Leasing commitments
Assets obtained under hire purchase contracts are capitalised in the statement of financial position and are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to income statement as incurred.

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.

Grant income
Grant income received for the purchase of fixed assets is classified within current liabilities and is recognised in the income statement over the useful economic life of the asset purchased.

Grant income received in respect of revenue expenditure is recognised in the income statement in the year in which expenditure is incurred.

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Freehold Improvements Fixtures
land & to Plant and and
buildings property machinery fittings Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2022 1,659,312 51,976 376,137 299,266 2,386,691
Additions 13,083 - 15,690 22,560 51,333
Disposals - - (167 ) (5,277 ) (5,444 )
At 31 March 2023 1,672,395 51,976 391,660 316,549 2,432,580
DEPRECIATION
At 1 April 2022 81,394 43,950 309,455 263,978 698,777
Charge for year 10,231 5,198 16,507 11,459 43,395
Eliminated on disposal - - (33 ) (4,737 ) (4,770 )
At 31 March 2023 91,625 49,148 325,929 270,700 737,402
NET BOOK VALUE
At 31 March 2023 1,580,770 2,828 65,731 45,849 1,695,178
At 31 March 2022 1,577,918 8,026 66,682 35,288 1,687,914

Included in cost or valuation of land and buildings is freehold land of £ 1,160,882 (2022 - £ 1,147,799 ) which is not depreciated.

The following is a detailed breakdown of the capital expenditure incurred during the year;

£
Tee signs13,083
Computer equipment4,798
Multi zone audio system4,500
Dakota Tb220 Brush tb 159-226,792
Changing room lockers22,160

51,333

Cost or valuation at 31 March 2023 is represented by:

Freehold Improvements Fixtures
land & to Plant and and
buildings property machinery fittings Totals
£    £    £    £    £   
Cost 1,672,395 51,976 391,660 316,549 2,432,580

The net book value of tangible fixed assets includes £ 28,130 (2022 - £ 35,162 ) in respect of assets held under finance leases.

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 120 -
Other debtors - 1,731
Called up share capital not paid 51,737 52,984
Prepayments 9,917 6,031
61,774 60,746

Called up share capital not paid relates to 283 (2022: 296) shareholders who paid £1 at the time of purchasing a £180 ordinary share and 6 (2022: 0) shareholders who, at the reporting date, had paid £nil towards their £180 ordinary share. The outstanding amounts are repayable at the request of the company.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 29,032 29,032
Finance leases (see note 8) 10,013 10,013
Trade creditors & accruals 20,550 25,239
Tax 4,112 3,703
Social security and other taxes 12,262 5,406
Other creditors 37,609 22,918
Deferred income 391,763 373,147
Accrued expenses 7,917 7,917
513,258 477,375

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loan 1-2 years 29,032 29,032
Bank loan 2-5 years 71,132 80,807
Bank loan over 5 years 81,883 99,899
Finance leases (see note 8) 23,638 34,010
205,685 243,748

Amounts falling due in more than five years:

Repayable by instalments
Bank loan over 5 years 81,883 99,899
Finance leases - 2,889
81,883 102,788

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2023 2022
£    £   
Net obligations repayable:
Within one year 10,013 10,013
Between one and five years 23,638 31,121
In more than five years - 2,889
33,651 44,023

Non-cancellable operating leases
2023 2022
£    £   
Within one year 40,757 38,597
Between one and five years 40,757 38,597
In more than five years 24,474 63,070
105,988 140,264

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Finance leases 33,651 44,023
Mortgage 177,041 195,055
210,692 239,078

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
502 Ordinary £180 shares £180 87,300 90,360

37 ordinary shares of £180 were issued during the year. The company purchased 48 of its own ordinary shares during the year. Shares are purchased when shareholders, who are members of the golf club, wish to cease their membership.

During the year a historical adjustment was made to the shareholdings and the company purchased a further 6 of its own ordinary shares. This was to account for members who have left in previous years, however the share register had not been updated correctly.

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2022 845,034 494,561 1,339,595
Profit for the year 40,995 40,995
At 31 March 2023 886,029 494,561 1,380,590



12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gary Edgerton FCA Cert PFS (Senior Statutory Auditor)
for and on behalf of Fairhurst

13. TURNOVER CONSISTS OF:-

2023 2022
£ £ £ £

Subscriptions 449,656 408,151

Bar Sales 161,420 145,772

Green Fees - Visitors 29,319 36,413
- Societies 14,134 8,010
43,453 44,423

Competitions and opens 43,993 36,787

Social events 12,178 13,758

Buggy Shed 7,769 7,730

Sponsorship 7,968 -

Donations 14,402 -

Other income 13,092 3,942
753,931 660,563



GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

14. OTHER OPERATING INCOME CONSISTS OF:-


2023 2022
£ £
Sports England Grant 448 448
Government Covid-19 Grants - 25,300
Covid-19 VAT Refund - 5,513
448 72,330











15. CASH AT BANK AND IN HAND

2023 2022
£ £
Bank accounts - - Current account 40,500 87,981
- Capital Reserve account 86,187 82,123
- Business Reserve account 18,010 -
- Pay as you go subscriptions account 10
- Subscriptions account 338,309 290,726
483,016 460,840

Cash and floats - - Petty cash and cash floats 4,586 3,484
- Credit card control account 15,417 13,666
503,019 477,990