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REGISTERED NUMBER: 00261205 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BRANCEPETH CASTLE GOLF CLUB LIMITED

BRANCEPETH CASTLE GOLF CLUB LIMITED (REGISTERED NUMBER: 00261205)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRANCEPETH CASTLE GOLF CLUB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: P Swainston
P Tinkler
G Armstrong
C Rae
K Pullan
S Kenwell
M Moore
M Cave
D Chisholm
KJ Pedley
A Soppitt





REGISTERED OFFICE: The Club House
Brancepeth
Durham
DH7 8EA





REGISTERED NUMBER: 00261205 (England and Wales)





ACCOUNTANTS: Ribchesters
Chartered Accountants
Finchale House
Belmont Business Park
Durham
DH1 1TW

BRANCEPETH CASTLE GOLF CLUB LIMITED (REGISTERED NUMBER: 00261205)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 368,531 332,903
Investments 5 1 1
368,532 332,904

CURRENT ASSETS
Stocks 5,851 5,148
Debtors 6 80,275 106,836
Cash at bank and in hand 126,743 134,707
212,869 246,691
CREDITORS
Amounts falling due within one year 7 269,025 278,647
NET CURRENT LIABILITIES (56,156 ) (31,956 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

312,376

300,948

CREDITORS
Amounts falling due after more than one
year

8

52,824

63,249
NET ASSETS 259,552 237,699

RESERVES
Income and expenditure account 259,552 237,699
259,552 237,699

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BRANCEPETH CASTLE GOLF CLUB LIMITED (REGISTERED NUMBER: 00261205)

BALANCE SHEET - continued
31 MARCH 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by:





K Pullan - Director


BRANCEPETH CASTLE GOLF CLUB LIMITED (REGISTERED NUMBER: 00261205)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Brancepeth Castle Golf Club Limited is a private company, limited by guarantee , 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.

Turnover
Income is recognised from members' subscriptions in the year in which it is receivable and from the provision of golf club facilities, net of value added tax as it is incurred.

Tangible fixed assets
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 Property and Bridges - between 0% and 10% on cost
Solar panels - 5% on cost
Driving range - straight line over 10 years
Improvements to property - 5% on cost
Plant and machinery - 15% on cost
Furnishings & kitchen equipment - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

The company's accounting policy is to depreciate freehold buildings where the building has:

(1) a predictable useful economic life

(2) an estimated residual value below cost

The rate of depreciation applied to those freehold buildings which are depreciated at 0% is done so, as in the opinion of the directors, those buildings are maintained to such a standard that it will have an indefinite useful economic life. Maintenance costs are charged to the profit and loss account as incurred and are considered to be a fair reflection of the annual cost of the building. If a disposal of the building were to occur within its useful economic life the directors consider that the realisable value would exceed cost.

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

BRANCEPETH CASTLE GOLF CLUB LIMITED (REGISTERED NUMBER: 00261205)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Insurance proceeds
Insurance monies in respect of loss of earnings claims are credited to the profit and loss account in the period in which they are receivable provided that they can be accurately quantified.

Insurance monies receivable towards capital expenditure are recorded as deferred income and amortised in line with the depreciation on the associated asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Freehold
Property Improvements
and Solar Driving to
Bridges panels range property
£    £    £    £   
COST
At 1 April 2022 290,791 18,168 53,527 256,607
Additions - - - 1,848
At 31 March 2023 290,791 18,168 53,527 258,455
DEPRECIATION
At 1 April 2022 130,664 8,857 13,382 181,178
Charge for year - 908 5,352 3,759
At 31 March 2023 130,664 9,765 18,734 184,937
NET BOOK VALUE
At 31 March 2023 160,127 8,403 34,793 73,518
At 31 March 2022 160,127 9,311 40,145 75,429

Furnishings
Plant and & kitchen Motor Computer
machinery equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 275,403 105,048 6,995 24,975 1,031,514
Additions 56,500 - - - 58,348
At 31 March 2023 331,903 105,048 6,995 24,975 1,089,862
DEPRECIATION
At 1 April 2022 241,790 92,347 6,163 24,230 698,611
Charge for year 8,898 3,308 208 287 22,720
At 31 March 2023 250,688 95,655 6,371 24,517 721,331
NET BOOK VALUE
At 31 March 2023 81,215 9,393 624 458 368,531
At 31 March 2022 33,613 12,701 832 745 332,903

BRANCEPETH CASTLE GOLF CLUB LIMITED (REGISTERED NUMBER: 00261205)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS - continued

No depreciation is provided on the freehold property and bridges, by request of the committee, in view of the current market value. All other buildings, including the greens storage building and all property improvements are subject to depreciation at an appropriate rate. The company has not adopted a revaluation policy in respect of its tangible fixed assets (in accordance with Financial Reporting Standard 102) on the basis that the cost of obtaining such a revaluation could not be justified.

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Solar
panels
£   
COST
At 1 April 2022
and 31 March 2023 18,168
DEPRECIATION
At 1 April 2022 8,857
Charge for year 908
At 31 March 2023 9,765
NET BOOK VALUE
At 31 March 2023 8,403
At 31 March 2022 9,311

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2022
and 31 March 2023 1
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,150 2,400
Other debtors 77,125 104,436
80,275 106,836

BRANCEPETH CASTLE GOLF CLUB LIMITED (REGISTERED NUMBER: 00261205)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,602 10,531
Trade creditors 6,992 19,981
Taxation and social security 2,232 2,373
Other creditors 249,199 245,762
269,025 278,647

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 52,824 63,249

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 9,614

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 63,426 73,780

The bank loan is secured on the freehold property, Brancepeth Castle Golf Club.

11. RELATED PARTY DISCLOSURES

The trades relating to the bar, restaurant and other trades at Brancepeth Castle Golf Club Limited were hived down to the company's wholly owned subsidiary on 7 December 2019 for £Nil consideration.

No formal lease arrangements are in place with the subsidiary. No rent has therefore been charged nor any other commercial recharges made.

The company operates a rolling loan arrangement with its subsidiary company on an unsecured, interest free basis. At 31 March 2023 a balance of £70,724 was due from the subsidiary which is included in other debtors (31 March 2022: £100,232).

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the members of the management committee, who are also directors of the company.

The company is limited by guarantee.