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REGISTERED NUMBER: 00170271 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Newark Golf Club Company Limited(The)

Newark Golf Club Company Limited(The) (Registered number: 00170271)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Newark Golf Club Company Limited(The)

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Crispin Duncan David Stephenson
Fraser S MacIntyre
Garry Nokes
Nigel R Redmile





SECRETARY: Robert A Hall





REGISTERED OFFICE: Sleaford Road
Coddington
Newark
Nottinghamshire
NG24 2QX





REGISTERED NUMBER: 00170271 (England and Wales)





ACCOUNTANTS: Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Newark Golf Club Company Limited(The)


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Newark Golf Club Company Limited(The) for the year ended 31 March 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Newark Golf Club Company Limited(The), as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Newark Golf Club Company Limited(The) and state those matters that we have agreed to state to the Board of Directors of Newark Golf Club Company Limited(The), as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newark Golf Club Company Limited(The) and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Newark Golf Club Company Limited(The) has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Newark Golf Club Company Limited(The). You consider that Newark Golf Club Company Limited(The) is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Newark Golf Club Company Limited(The). For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR


29 February 2024

Newark Golf Club Company Limited(The) (Registered number: 00170271)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,570,498 1,599,010

CURRENT ASSETS
Stocks 10,316 11,698
Debtors 5 91,801 13,163
Cash at bank and in hand 144,078 139,673
246,195 164,534
CREDITORS
Amounts falling due within one year 6 (392,203 ) (280,890 )
NET CURRENT LIABILITIES (146,008 ) (116,356 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,424,490 1,482,654

CREDITORS
Amounts falling due after more than one
year

7

(41,190

)

(37,500

)
NET ASSETS 1,383,300 1,445,154

CAPITAL AND RESERVES
Called up share capital 2,228 2,228
Revaluation reserve 9 1,222,580 1,222,580
Irrigation system fund 5,001 7,502
Retained earnings 153,491 212,844
1,383,300 1,445,154

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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 profit or loss 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.

Newark Golf Club Company Limited(The) (Registered number: 00170271)

Balance Sheet - continued
31 March 2023


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 29 February 2024 and were signed on its behalf by:





Crispin Duncan David Stephenson - Director


Newark Golf Club Company Limited(The) (Registered number: 00170271)

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


1. STATUTORY INFORMATION

Newark Golf Club Company Limited(The) is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - not depreciated
Plant and machinery etc - 33% on cost, 20% on cost, 15% on cost and 10% on cost

Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 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 asset of the company after deducting all of its liabilities.

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.


Newark Golf Club Company Limited(The) (Registered number: 00170271)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Government grants
During the year the company has benefited from grants received from both local and national government, to support the business through the Coronavirus pandemic. The amounts included within the accounts reflect the grants received during the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 1,450,000 821,257 2,271,257
Additions - 6,645 6,645
At 31 March 2023 1,450,000 827,902 2,277,902
DEPRECIATION
At 1 April 2022 - 672,247 672,247
Charge for year - 35,157 35,157
At 31 March 2023 - 707,404 707,404
NET BOOK VALUE
At 31 March 2023 1,450,000 120,498 1,570,498
At 31 March 2022 1,450,000 149,010 1,599,010

Newark Golf Club Company Limited(The) (Registered number: 00170271)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2020 535,714 - 535,714
Cost 914,286 827,902 1,742,188
1,450,000 827,902 2,277,902

The freehold land and buildings were valued by the board of directors, using their best estimates. The directors consider the valuation has not changed in the period to 31 March 2023.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 423 3,058
Other debtors 91,378 10,105
91,801 13,163

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 10,000 12,500
Hire purchase contracts 3,884 -
Payments on account 170,582 130,650
Trade creditors 69,078 58,404
Taxation and social security 26,289 11,545
Other creditors 112,370 67,791
392,203 280,890

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans 30,833 37,500
Hire purchase contracts 10,357 -
41,190 37,500

8. SECURED DEBTS

The bank loan has been provided under the Government Bounce Back Loan Scheme, and as such is guaranteed by the government.

Newark Golf Club Company Limited(The) (Registered number: 00170271)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


9. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 1,222,580

Included with the other reserves, is an irrigation system fund with a balance of £5,001 (2022: £7,502).

The irrigation system fund represents the total contributions received in respect of a levy charged to all full members. The balance held on this fund is to be amortised over the same period as the irrigation equipment. The annual write back of the fund is £2,501.