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REGISTERED NUMBER: 00191867 (England and Wales)









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

THE LYTHAM (GREEN DRIVE) GOLF CLUB LTD

THE LYTHAM (GREEN DRIVE) GOLF CLUB LTD (REGISTERED NUMBER: 00191867)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE LYTHAM (GREEN DRIVE) GOLF CLUB LTD

COMPANY INFORMATION
for the Year Ended 31 MAY 2023







DIRECTORS: Miss A M Bain
J Catterall
S H Levis
Miss B J Pearson
S M Sheard
M G Sumner
D Sully
S Fuller
S Wilson
Mrs D Sully
A Park
K Farrington





SECRETARY: I Stewart





REGISTERED OFFICE: Lytham Green Drive Golf Club
Ballam Road
Lytham St Annes
Lancashire
FY8 4LE





REGISTERED NUMBER: 00191867 (England and Wales)





AUDITORS: Whitehead & Howarth
Statutory Auditors
327 Clifton Drive South
Lytham St Annes
Lancashire
FY8 1HN

THE LYTHAM (GREEN DRIVE) GOLF CLUB LTD (REGISTERED NUMBER: 00191867)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,795,072 1,781,850

CURRENT ASSETS
Stocks 24,732 21,147
Debtors 5 8,193 4,890
Cash at bank and in hand 279,665 266,339
312,590 292,376
CREDITORS
Amounts falling due within one year 6 583,012 596,928
NET CURRENT LIABILITIES (270,422 ) (304,552 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,524,650

1,477,298

CREDITORS
Amounts falling due after more than one
year

7

(663,505

)

(701,971

)

PROVISIONS FOR LIABILITIES 10 (5,086 ) (5,086 )
NET ASSETS 856,059 770,241

RESERVES
Revaluation reserve 11 164,605 164,605
Income and expenditure account 11 691,454 605,636
856,059 770,241

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 12 October 2023 and were signed on its behalf by:




Mrs D Sully - Director



S M Sheard - Director


THE LYTHAM (GREEN DRIVE) GOLF CLUB LTD (REGISTERED NUMBER: 00191867)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MAY 2023

1. STATUTORY INFORMATION

The Lytham (Green Drive) Golf Club Ltd is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Income comprises members' subscription fees and receipts from the sale of goods and services supplied by the Company, net of recoverable value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 5% on cost and in accordance with the property
Plant and machinery etc - 20% on cost

Land and buildings held and used in the company's own activities for production and supply of goods or for administrative purposes are stated in the balance sheet at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the balance sheet.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve in 'other reserves'.

Once a revalued property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

Assets held under finance leases are depreciated in the same manner as owned assets.

At each balance sheet date, the company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Freehold land is not depreciated.

THE LYTHAM (GREEN DRIVE) GOLF CLUB LTD (REGISTERED NUMBER: 00191867)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2023

2. ACCOUNTING POLICIES - continued

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 Income Statement, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 21 ) .

THE LYTHAM (GREEN DRIVE) GOLF CLUB LTD (REGISTERED NUMBER: 00191867)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 June 2022 1,665,000 1,016,691 2,681,691
Additions 17,059 50,255 67,314
Disposals - (471 ) (471 )
At 31 May 2023 1,682,059 1,066,475 2,748,534
DEPRECIATION
At 1 June 2022 - 899,841 899,841
Charge for year 10,548 43,316 53,864
Eliminated on disposal - (243 ) (243 )
At 31 May 2023 10,548 942,914 953,462
NET BOOK VALUE
At 31 May 2023 1,671,511 123,561 1,795,072
At 31 May 2022 1,665,000 116,850 1,781,850

Cost or valuation at 31 May 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 1,665,000 - 1,665,000
Cost 17,059 1,066,475 1,083,534
1,682,059 1,066,475 2,748,534

If land and buildings had not been revalued they would have been included at the following historical cost:

31.5.23 31.5.22
£    £   
Cost 1,633,475 1,633,475
Aggregate depreciation 142,487 133,067

Value of land in freehold land and buildings 1,162,500 1,162,500

Freehold land and buildings were valued on fair value basis on 29 September 2022 by Sanderson Weatherall .

THE LYTHAM (GREEN DRIVE) GOLF CLUB LTD (REGISTERED NUMBER: 00191867)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 June 2022 100,043
Additions 30,083
At 31 May 2023 130,126
DEPRECIATION
At 1 June 2022 26,217
Charge for year 24,521
At 31 May 2023 50,738
NET BOOK VALUE
At 31 May 2023 79,388
At 31 May 2022 73,826

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 8,193 4,890

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 33,564 37,193
Hire purchase contracts (see note 8) 23,512 18,544
Trade creditors 38,525 59,206
Taxation and social security 15,311 7,141
Other creditors 472,100 474,844
583,012 596,928

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 593,127 624,632
Hire purchase contracts (see note 8) 49,790 52,689
Other creditors 20,588 24,650
663,505 701,971

THE LYTHAM (GREEN DRIVE) GOLF CLUB LTD (REGISTERED NUMBER: 00191867)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.5.23 31.5.22
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 458,871 475,864

Repayable by instalments
Other loans 1,388 5,450
Hire purchase - 1,743
1,388 7,193

The bank loans are secured on the Golf Course and the hire purchase contracts are secured on the assets purchased.
The original bank loan outstanding at the year end is £626,691 (2022: £661,824) repayable over fifteen years. Interest is charged every quarter.

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.23 31.5.22
£    £   
Net obligations repayable:
Within one year 23,512 18,544
Between one and five years 49,790 50,946
In more than five years - 1,743
73,302 71,233

Non-cancellable operating leases
31.5.23 31.5.22
£    £   
Within one year 689 689
Between one and five years 689 1,378
1,378 2,067

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 626,691 661,825
Hire purchase contracts 73,302 71,233
699,993 733,058

THE LYTHAM (GREEN DRIVE) GOLF CLUB LTD (REGISTERED NUMBER: 00191867)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2023

10. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax
Accelerated capital allowances 1,899 1,899
Other timing differences 3,187 3,187
5,086 5,086

Deferred
tax
£   
Balance at 1 June 2022 5,086
Balance at 31 May 2023 5,086

11. RESERVES
Income
and
expenditure Revaluation
account reserve Totals
£    £    £   

At 1 June 2022 605,636 164,605 770,241
Surplus for the year 85,818 85,818
At 31 May 2023 691,454 164,605 856,059

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Candice Higgins (Senior Statutory Auditor)
for and on behalf of Whitehead & Howarth

13. CAPITAL COMMITMENTS
31.5.23 31.5.22
£    £   
Contracted but not provided for in the
financial statements 183,667 -

14. ULTIMATE CONTROLLING PARTY

There is no one controlling party.