REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2023 |
for |
Scarborough North Cliff |
Golf Club Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2023 |
for |
Scarborough North Cliff |
Golf Club Limited |
Scarborough North Cliff |
Golf Club Limited (Registered number: 00983170) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Scarborough North Cliff |
Golf Club Limited |
Company Information |
for the Year Ended 31 March 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
Statutory Auditor |
2 Belgrave Crescent |
Scarborough |
North Yorkshire |
YO11 1UB |
Scarborough North Cliff |
Golf Club Limited (Registered number: 00983170) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
Net assets |
Reserves |
Club development fund | 10 |
Income and expenditure account | 10 |
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 |
Scarborough North Cliff |
Golf Club Limited (Registered number: 00983170) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | Statutory information |
Scarborough North Cliff Golf Club Limited is a private company, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The company is limited by guarantee and consequently does not have any share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. |
2. | Accounting policies |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Scarborough North Cliff Golf Club Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
The turnover and other operating income arises from the usual activities of a golf club. This primarily includes membership subscriptions received as well as other golf and advertising related income during the year. Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. |
Donations towards revenue and capital expenditure are recognised at the point at which the related expenditure is incurred. |
Tangible fixed assets |
Course and greenkeeping equipment | - |
Clubhouse furnishings and equipment | - |
Borehole | - |
Carpark | - |
Investments in subsidiaries |
Investments in subsidiary 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 |
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease. |
Scarborough North Cliff |
Golf Club Limited (Registered number: 00983170) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
2. | Accounting policies - continued |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
Tax |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Employee benefits |
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. Although the company does not operate a pension scheme for its employees, it makes contributions on behalf of employees to their personal pension scheme. Contributions are charged to the income and expenditure account as they become payable. |
Government grants |
Grants of a revenue nature are credited to the income statement in the period to which they relate. Government grants are presented separately and disclosed in Other operating income in the income statement. Grants in the previous year comprise of the UK Government assistance provided during the Covid-19 pandemic. |
3. | Employees and directors |
The average number of employees during the year was |
Scarborough North Cliff |
Golf Club Limited (Registered number: 00983170) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
4. | Tangible fixed assets |
Course | Clubhouse |
and | furnishings |
greenkeeping | and |
equipment | equipment | Borehole | Carpark | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2023 |
Depreciation |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2023 |
Net book value |
At 31 March 2023 |
At 31 March 2022 |
5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 April 2022 |
and 31 March 2023 |
Net book value |
At 31 March 2023 |
At 31 March 2022 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Prepayments and accrued income |
Scarborough North Cliff |
Golf Club Limited (Registered number: 00983170) |
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 |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
9. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
10. | Reserves |
Income |
and | Club |
expenditure | development |
account | fund | Totals |
£ | £ | £ |
At 1 April 2022 |
Deficit for the year | ( |
) | ( |
) |
Transfer | 3,245 | (3,245 | ) | - |
At 31 March 2023 | 173,243 |
The club development fund is a non statutory reserve where the members have designated funds raised from the Centenary Year. These funds were used to renovate the gents dressing room. The reserve is reducing every year to match the depreciation on the capitalisation of the renovation works. The reserve is to be written off next year at £3,246. |
Scarborough North Cliff |
Golf Club Limited (Registered number: 00983170) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
11. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | Capital commitments |
2023 | 2022 |
£ | £ |
Contracted but not provided for in the |
financial statements |
13. | Related party disclosures |
During the year the company received a gift aid donation from Scarborough North Cliff Golf Club Trading Company Limited totalling £114,945 (2022 - £60,391). At the year end the total amount owed from Scarborough North Cliff Golf Club Trading Company Limited was £17,927 (2022 - £32,705) and is included within debtors due within one year. |