REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
THE SALISBURY & SOUTH WILTS GOLF CLUB |
LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
THE SALISBURY & SOUTH WILTS GOLF CLUB |
LIMITED |
THE SALISBURY & SOUTH WILTS GOLF CLUB |
LIMITED (REGISTERED NUMBER: 06050644) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THE SALISBURY & SOUTH WILTS GOLF CLUB |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Windover House |
St. Ann Street |
Salisbury |
SP1 2DR |
THE SALISBURY & SOUTH WILTS GOLF CLUB |
LIMITED (REGISTERED NUMBER: 06050644) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank | 7 |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
RESERVES |
Income and expenditure account |
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. |
THE SALISBURY & SOUTH WILTS GOLF CLUB |
LIMITED (REGISTERED NUMBER: 06050644) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
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 |
THE SALISBURY & SOUTH WILTS GOLF CLUB |
LIMITED (REGISTERED NUMBER: 06050644) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | GENERAL INFORMATION |
The Salisbury & South Wilts Golf Club Limited is a private company (06050644) limited by guarantee and was incorporated in England & Wales. The principal activity of the company was the provision of a golf course and club for its members. The main place of business and registered office is The Salisbury & South Wilts Golf Club Limited, Netherhampton, Salisbury, Wiltshire, SP2 8PR. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
Sales of goods |
Revenue from the sale of goods is recognised when all of the following conditions are satisfied: |
- The Company has transferred the significant risks and rewards of ownership to the buyer; |
- The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over goods sold; |
- The amount of revenue can be measured reliably; |
- It is probable that the Company will receive the consideration due under the transaction; and |
- The costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- The amount of revenue can be measured reliably; |
- It is probable that the Company will receive the consideration due under the contract; |
- The stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- The costs incurred and the costs to complete the contract can be measured reliably. |
THE SALISBURY & SOUTH WILTS GOLF CLUB |
LIMITED (REGISTERED NUMBER: 06050644) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. Repair, renovation and replacement expenditure is written off as expenditure in the profit and loss account. The cost of fixed assets is their cost, together with any incidental costs of acquisition. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Short leasehold - 20% reducing balance or straight line over the remaining period of the lease (expires 2048 see below) |
Plant and machinery - 20% straight line or reducing balance. Irrigation system straight line over 5 years. |
Fixtures and fittings - 20% straight line or reducing balance |
Office equipment - 10-33% straight line or reducing balance |
The lease has expired and a 25 year extension is being negotiated. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
THE SALISBURY & SOUTH WILTS GOLF CLUB |
LIMITED (REGISTERED NUMBER: 06050644) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and | Office |
leasehold | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | STOCKS |
2023 | 2022 |
£ | £ |
Finished goods and goods for resale |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
7. | CASH AT BANK |
2023 | 2022 |
£ | £ |
Cash at bank and in hand | 577,045 | 493,158 |
THE SALISBURY & SOUTH WILTS GOLF CLUB |
LIMITED (REGISTERED NUMBER: 06050644) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Debentures (see note 10) |
Payments received on account |
Trade creditors |
Corporation tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Debentures (see note 10) |
10. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Debenture loans | 667 | 667 |
Amounts falling due between one and two years: |
Debenture loans |
11. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |