REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
LEICESTERSHIRE & RUTLAND GOLF LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
LEICESTERSHIRE & RUTLAND GOLF LIMITED |
LEICESTERSHIRE & RUTLAND GOLF LIMITED (REGISTERED NUMBER: 11603478) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 October 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LEICESTERSHIRE & RUTLAND GOLF LIMITED |
COMPANY INFORMATION |
for the year ended 31 October 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Unit 2 |
Charnwood Edge Business Park |
Syston Road |
Leicester |
LE7 4UZ |
LEICESTERSHIRE & RUTLAND GOLF LIMITED (REGISTERED NUMBER: 11603478) |
BALANCE SHEET |
31 October 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
County finals contingency fund | 8 |
Under 35's fund | 8 |
Income and expenditure account | 8 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income and Expenditure Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
LEICESTERSHIRE & RUTLAND GOLF LIMITED (REGISTERED NUMBER: 11603478) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 October 2023 |
1. | STATUTORY INFORMATION |
Leicestershire & Rutland Golf Limited is a limited company, limited by guarantee, registered in England and Wales. Its registered office address is Kirby Muxloe Golf Club, Station Road, Kirby Muxloe, Leicester, LE9 2EP and the registered number is 11603478. |
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 £. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total value on a receivable basis of subscriptions and competition entrance fees. |
Tangible fixed assets |
Computer equipment | - |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. |
Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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. |
Taxation |
The company has applied for a dispensation from HMRC for completing a corporation tax return (subject to certain conditions) and, accordingly no corporation tax has been provided for in the accounts to 31 October 2023. |
Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
LEICESTERSHIRE & RUTLAND GOLF LIMITED (REGISTERED NUMBER: 11603478) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 November 2022 |
and 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
and 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
5. | STOCKS |
2023 | 2022 |
£ | £ |
Finished goods |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
Accruals and deferred income |
8. | RESERVES |
Income | County |
and | finals |
expenditure | contingency | Under |
account | fund | 35's fund | Totals |
£ | £ | £ | £ |
At 1 November 2022 |
Surplus for the year |
Contribution from Leicestershire & Rutland Golf Union |
(2,000 |
) |
2,000 |
- |
- |
Excess of income over expenditure for the year |
- |
- |
250 |
250 |
At 31 October 2023 | 159,772 |
LEICESTERSHIRE & RUTLAND GOLF LIMITED (REGISTERED NUMBER: 11603478) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2023 |
9. | LIMITED BY GUARANTEE |
The Company is a private company limited by guarantee and consequently does not have a share capital. Each of the guarantors are liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. |