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Registration number: 02630929

Sandhill Golf Club Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Sandhill Golf Club Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Sandhill Golf Club Limited

Company Information

Directors

Mr Vincent Michael Keating

Mr Herbert Edwin Wistow

Mrs Valerie Wistow

Company secretary

Mrs Valerie Wistow

Registered office

Wistow Lodge
Middlecliff Lane
Little Houghton
Barnsley
South Yorkshire
S72 0HW

Accountants

Upton & Co Accountants Limited
Chartered Certified Accountants
182 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

Sandhill Golf Club Limited

(Registration number: 02630929)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

431,173

412,444

Current assets

 

Stocks

5

10,097

10,723

Debtors

6

-

7,468

Cash at bank and in hand

 

250,070

269,932

 

260,167

288,123

Creditors: Amounts falling due within one year

7

(52,539)

(93,376)

Net current assets

 

207,628

194,747

Total assets less current liabilities

 

638,801

607,191

Creditors: Amounts falling due after more than one year

7

(8,801)

(8,893)

Net assets

 

630,000

598,298

Capital and reserves

 

Called up share capital

8

1,200

1,200

Retained earnings

628,800

597,098

Shareholders' funds

 

630,000

598,298

For the financial year ending 31 March 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 November 2023 and signed on its behalf by:
 

 

Sandhill Golf Club Limited

(Registration number: 02630929)
Balance Sheet as at 31 March 2023

.........................................
Mr Vincent Michael Keating
Director

 

Sandhill Golf Club Limited

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

1

General information

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

The address of its registered office is:
Wistow Lodge
Middlecliff Lane
Little Houghton
Barnsley
South Yorkshire
S72 0HW

These financial statements were authorised for issue by the Board on 21 November 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/value added tax, returns, rebates and discounts.

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Sandhill Golf Club Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long Leasehold Property

1% Straight Line Basis

Plant & Machinery

25% Reducing Balance Basis

Fitxures & Fittings

25% Reducing Balance Basis

Motor Vehicles

25% Reducing Balance Basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

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

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Sandhill Golf Club Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2022 - 10).

 

Sandhill Golf Club Limited

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

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 April 2022

280,194

34,713

589,343

37,891

Additions

-

2,443

105,438

40,665

Disposals

-

-

(82,750)

(23,791)

At 31 March 2023

280,194

37,156

612,031

54,765

Depreciation

At 1 April 2022

68,776

29,117

411,756

20,048

Charge for the year

2,802

2,010

62,358

10,166

Eliminated on disposal

-

-

(48,112)

(5,948)

At 31 March 2023

71,578

31,127

426,002

24,266

Carrying amount

At 31 March 2023

208,616

6,029

186,029

30,499

At 31 March 2022

211,418

5,596

177,587

17,843

 

Sandhill Golf Club Limited

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

Total
£

Cost or valuation

At 1 April 2022

942,141

Additions

148,546

Disposals

(106,541)

At 31 March 2023

984,146

Depreciation

At 1 April 2022

529,697

Charge for the year

77,336

Eliminated on disposal

(54,060)

At 31 March 2023

552,973

Carrying amount

At 31 March 2023

431,173

At 31 March 2022

412,444

Included within the net book value of land and buildings above is £208,616 (2022 - £211,418) in respect of long leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

10,097

10,723

6

Debtors

2023
£

2022
£

Other debtors

-

7,468

-

7,468

 

Sandhill Golf Club Limited

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

4,002

4,654

Taxation and social security

41,857

64,066

Accruals and deferred income

6,146

24,098

Other creditors

534

558

52,539

93,376

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

8,801

8,893

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1,200

1,200

1,200

1,200

         
 

Sandhill Golf Club Limited

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

9

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £30.18 (2022 - £12.50) per each Ordinary

 

36,210

 

15,000

         

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

21,476

20,994

Contributions paid to money purchase schemes

111

-

21,587

20,994