Rishton Golf Club Limited 247773 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of the operation of a private members' golf club. Digita Accounts Production Advanced 6.30.9574.0 true 247773 2022-04-01 2023-03-31 247773 2023-03-31 247773 core:RetainedEarningsAccumulatedLosses 2023-03-31 247773 core:RevaluationReserve 2023-03-31 247773 core:FinanceLeases core:CurrentFinancialInstruments 2023-03-31 247773 core:FinanceLeases core:Non-currentFinancialInstruments 2023-03-31 247773 core:CurrentFinancialInstruments 2023-03-31 247773 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 247773 core:Non-currentFinancialInstruments 2023-03-31 247773 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 247773 core:LandBuildings 2023-03-31 247773 core:OtherPropertyPlantEquipment 2023-03-31 247773 bus:SmallEntities 2022-04-01 2023-03-31 247773 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 247773 bus:FullAccounts 2022-04-01 2023-03-31 247773 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 247773 bus:RegisteredOffice 2022-04-01 2023-03-31 247773 bus:Director10 2022-04-01 2023-03-31 247773 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 247773 core:Buildings 2022-04-01 2023-03-31 247773 core:LandBuildings 2022-04-01 2023-03-31 247773 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 247773 core:PlantMachinery 2022-04-01 2023-03-31 247773 countries:EnglandWales 2022-04-01 2023-03-31 247773 2022-03-31 247773 core:LandBuildings 2022-03-31 247773 core:OtherPropertyPlantEquipment 2022-03-31 247773 2021-04-01 2022-03-31 247773 2022-03-31 247773 core:RetainedEarningsAccumulatedLosses 2022-03-31 247773 core:RevaluationReserve 2022-03-31 247773 core:FinanceLeases core:CurrentFinancialInstruments 2022-03-31 247773 core:FinanceLeases core:Non-currentFinancialInstruments 2022-03-31 247773 core:CurrentFinancialInstruments 2022-03-31 247773 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 247773 core:Non-currentFinancialInstruments 2022-03-31 247773 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 247773 core:LandBuildings 2022-03-31 247773 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 247773

Rishton Golf Club Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Rishton Golf Club Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Rishton Golf Club Limited

(Registration number: 247773)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

182,053

200,420

Current assets

 

Stocks

5

4,632

3,586

Debtors

627

2,454

Cash at bank and in hand

 

63,810

90,530

 

69,069

96,570

Creditors: Amounts falling due within one year

6

(53,762)

(58,965)

Net current assets

 

15,307

37,605

Total assets less current liabilities

 

197,360

238,025

Creditors: Amounts falling due after more than one year

6

(21,313)

(33,677)

Net assets

 

176,047

204,348

Capital and reserves

 

Revaluation reserve

19,025

19,025

Retained earnings

157,022

185,323

Shareholders' funds

 

176,047

204,348

 

Rishton Golf Club Limited

(Registration number: 247773)
Balance Sheet as at 31 March 2023

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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 November 2023 and signed on its behalf by:
 

.........................................
S North
Director

 

Rishton 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 and Wales.

The address of its registered office is:
Eachill Links
Hawthorn Drive
Rishton
Blackburn
Lancashire
BB1 4HG

These financial statements were authorised for issue by the Board on 6 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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.

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.

 

Rishton Golf Club Limited

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

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

Plant and machinery

10% straight line

Buildings

1% straight line

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.

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.

 

Rishton Golf Club Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 24 (2022 - 20).

 

Rishton Golf Club Limited

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

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

124,459

219,013

343,472

At 31 March 2023

124,459

219,013

343,472

Depreciation

At 1 April 2022

7,551

135,501

143,052

Charge for the year

1,331

17,036

18,367

At 31 March 2023

8,882

152,537

161,419

Carrying amount

At 31 March 2023

115,577

66,476

182,053

At 31 March 2022

116,908

83,512

200,420

5

Stocks

2023
£

2022
£

Other inventories

4,632

3,586

 

Rishton Golf Club Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

15,892

15,682

Taxation and social security

 

719

-

Accruals and deferred income

 

33,510

38,332

Other creditors

 

3,641

4,951

 

53,762

58,965

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £7,372 (2022 - £7,372).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

21,313

33,677

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £2,171 (2022 - £6,052).

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

19,142

27,625

Finance lease liabilities

2,171

6,052

21,313

33,677

2023
£

2022
£

Current loans and borrowings

Bank borrowings

8,520

8,310

Finance lease liabilities

7,372

7,372

15,892

15,682