Company registration number 10026545 (England and Wales)
BGGC TRADING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BGGC TRADING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BGGC TRADING LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Stocks
8,583
7,046
Debtors
4
1,147
863
Cash at bank and in hand
7,002
9,564
16,732
17,473
Creditors: amounts falling due within one year
5
(63,871)
(166,292)
Net current liabilities
(47,139)
(148,819)
Creditors: amounts falling due after more than one year
6
(7,500)
(12,500)
Net liabilities
(54,639)
(161,319)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(54,640)
(161,320)
Total equity
(54,639)
(161,319)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 4 January 2024 and are signed on its behalf by:
Mr J A Edgar
Director
Company Registration No. 10026545
BGGC TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 2 -
1
Accounting policies
Company information

BGGC Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Club House, Snipe Lane, Darlington, County Durham, United Kingdom, DL2 2SA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors' have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. However, they aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.

 

The company meets its day to day working capital requirement through the support of its parent company, Blackwell Grange Golf Club Limited. As at 30 September 2023 the parent company had net assets of £3.4 million and has significant cash resources to provide any support BGGC Trading Limited may require to meet its liabilities as they fall due.

 

The board of Blackwell Grange Golf Club Limited have agreed to support BGGC Trading Limited for the foreseeable future.

1.3
Turnover

Turnover represents the value, excluding Value Added Tax, of green fees, bar and food takings and other associated income.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BGGC TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

BGGC TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
3,900
2,500
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
22
18
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,147
863
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
12,316
10,978
Amounts owed to group undertakings
5,000
123,605
Taxation and social security
34,933
19,975
Other creditors
11,622
11,734
63,871
166,292
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Amounts owed to group undertakings
7,500
12,500
BGGC TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 5 -
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Joanne Regan FCA
Statutory Auditor:
Azets Audit Services
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
3,000
4,200
2023-09-302022-10-01false04 January 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedMr J A EdgarMr N L SayersMr N ClarkeMr J R BradleyMr P D Dummettfalse100265452022-10-012023-09-30100265452023-09-30100265452022-09-3010026545core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3010026545core:CurrentFinancialInstrumentscore:WithinOneYear2022-09-3010026545core:Non-currentFinancialInstrumentscore:AfterOneYear2023-09-3010026545core:Non-currentFinancialInstrumentscore:AfterOneYear2022-09-3010026545core:CurrentFinancialInstruments2023-09-3010026545core:CurrentFinancialInstruments2022-09-3010026545core:ShareCapital2023-09-3010026545core:ShareCapital2022-09-3010026545core:RetainedEarningsAccumulatedLosses2023-09-3010026545core:RetainedEarningsAccumulatedLosses2022-09-3010026545bus:Director12022-10-012023-09-30100265452021-10-012022-09-3010026545core:WithinOneYear2023-09-3010026545core:WithinOneYear2022-09-3010026545core:Non-currentFinancialInstruments2023-09-3010026545core:Non-currentFinancialInstruments2022-09-3010026545bus:PrivateLimitedCompanyLtd2022-10-012023-09-3010026545bus:SmallCompaniesRegimeForAccounts2022-10-012023-09-3010026545bus:FRS1022022-10-012023-09-3010026545bus:Audited2022-10-012023-09-3010026545bus:Director22022-10-012023-09-3010026545bus:Director32022-10-012023-09-3010026545bus:Director42022-10-012023-09-3010026545bus:Director52022-10-012023-09-3010026545bus:FullAccounts2022-10-012023-09-30xbrli:purexbrli:sharesiso4217:GBP