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COMPANY REGISTRATION NUMBER: 10953355
St Neots Golf Club Ltd
Company Limited by Guarantee
Filleted Unaudited Financial Statements
For the year ended
30 June 2023
St Neots Golf Club Ltd
Company Limited by Guarantee
Financial Statements
Year ended 30 June 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
St Neots Golf Club Ltd
Company Limited by Guarantee
Officers and Professional Advisers
THE BOARD OF DIRECTORS
C Busby
C Flack
S P Searle
M A Fox
COMPANY SECRETARY
A McColl
REGISTERED OFFICE
St Neots Golf Club
Crosshall Road
Eaton Ford
St Neots
Cambs
PE19 7GE
ACCOUNTANTS
Streets
Chartered Accountants
Potton House
Wyboston Lakes
Great North Road
Wyboston
Bedford
MK44 3BZ
BANKERS
Barclays Bank Plc
41 High Street
St Neots
Cambs
PE19 1AS
St Neots Golf Club Ltd
Company Limited by Guarantee
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
1,231,904
1,155,452
Investments
6
1
1
------------
------------
1,231,905
1,155,453
Current assets
Debtors
7
18,287
28,741
Cash at bank and in hand
277,802
318,176
---------
---------
296,089
346,917
Creditors: amounts falling due within one year
8
363,002
342,651
---------
---------
Net current (liabilities)/assets
( 66,913)
4,266
------------
------------
Total assets less current liabilities
1,164,992
1,159,719
------------
------------
Net assets
1,164,992
1,159,719
------------
------------
Capital and reserves
Profit and loss account
1,164,992
1,159,719
------------
------------
Members funds
1,164,992
1,159,719
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
St Neots Golf Club Ltd
Company Limited by Guarantee
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 30 October 2023 , and are signed on behalf of the board by:
C Busby
C Flack
Director
Director
Company registration number: 10953355
St Neots Golf Club Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is St Neots Golf Club, Crosshall Road, Eaton Ford, St Neots, Cambs, PE19 7GE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
0%, 2% or 10% per annum straight line
Plant and machinery
-
20% to 25% per annum reducing balance
Fixtures, furniture and fittings
-
20% per annum reducing balance or 33% per annum straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4. Company limited by guarantee
The company is a company limited by guarantee. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
5. Tangible assets
Freehold property
Plant and machinery
Fixtures, furniture and fittings
Total
£
£
£
£
Cost
At 1 July 2022
1,034,648
168,739
84,702
1,288,089
Additions
100,730
27,731
128,461
------------
---------
---------
------------
At 30 June 2023
1,034,648
269,469
112,433
1,416,550
------------
---------
---------
------------
Depreciation
At 1 July 2022
45,113
75,789
11,735
132,637
Charge for the year
13,118
22,465
16,426
52,009
------------
---------
---------
------------
At 30 June 2023
58,231
98,254
28,161
184,646
------------
---------
---------
------------
Carrying amount
At 30 June 2023
976,417
171,215
84,272
1,231,904
------------
---------
---------
------------
At 30 June 2022
989,535
92,950
72,967
1,155,452
------------
---------
---------
------------
6. Investments
Shares in group undertakings
£
Cost
At 1 July 2022 and 30 June 2023
1
----
Impairment
At 1 July 2022 and 30 June 2023
----
Carrying amount
At 30 June 2023
1
----
At 30 June 2022
1
----
7. Debtors
2023
2022
£
£
Other debtors
18,287
28,741
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
8,915
9,071
Amounts owed to group undertakings and undertakings in which the company has a participating interest
20,275
26,101
Other creditors
333,812
307,479
---------
---------
363,002
342,651
---------
---------