Company registration number 08097821 (England and Wales)
CHILWORTH MEMBERS GOLF COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
CHILWORTH MEMBERS GOLF COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CHILWORTH MEMBERS GOLF COMPANY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
61,567
69,328
Current assets
Stocks
780
420
Debtors
4
5,672
5,230
Cash at bank and in hand
17,488
84,666
23,940
90,316
Creditors: amounts falling due within one year
5
(54,251)
(58,959)
Net current (liabilities)/assets
(30,311)
31,357
Net assets
31,256
100,685
Reserves
Income and expenditure account
31,256
100,685
Members' funds
31,256
100,685

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 year ended 31 March 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 year 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.

The financial statements were approved by the board of directors and authorised for issue on 13 November 2023 and are signed on its behalf by:
Mrs E M Garner
Director
Company Registration No. 08097821
CHILWORTH MEMBERS GOLF COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Chilworth Members Golf Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 24 Park Road South, Havant, Hampshire, United Kingdom, PO9 1HB. The principal place of business is Chilworth Golf Centre, Main Road, Chilworth, Southampton, Hampshire, United Kingdom, SO16 7JP.

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. The principal accounting policies adopted are set out below.

The financial statements relate to Chilworth Members Golf Company Limited as an individual entity.

 

Revenue Recognition

Revenue represents green fees received together with membership subscriptions, excluding value added tax. Membership subscriptions are spread evenly in the profit and loss account over the period to which they relate.

1.2
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:

Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.3
Stocks

Stocks of consumables are valued at lower of costs or net realisable value.

1.4
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

CHILWORTH MEMBERS GOLF COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.6
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
13
12
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
99,190
Additions
12,017
Disposals
(4,800)
At 31 March 2023
106,407
Depreciation and impairment
At 1 April 2022
29,862
Depreciation charged in the year
19,211
Eliminated in respect of disposals
(4,233)
At 31 March 2023
44,840
Carrying amount
At 31 March 2023
61,567
At 31 March 2022
69,328
CHILWORTH MEMBERS GOLF COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
5,672
5,230
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
0
5,517
Taxation and social security
3,008
509
Other creditors
51,243
52,933
54,251
58,959
6
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £2.

7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
166,500
166,500
8
Related party transactions

During the year the company paid £8,650 (2022: £8,880) to the son of a director and guarantor.

Payments were in respect of services provided at a commercial rate.

 

The company also paid £26,751 (2022: £27,022) to a director and guarantor. Payments were in respect of services provided at a commercial rate.

 

 

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