Company Registration No. 12374534 (England and Wales)
WESTHOUGHTON GOLF CLUB LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
WESTHOUGHTON GOLF CLUB LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
WESTHOUGHTON GOLF CLUB LTD
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
31 October 2023
31 December 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
740,879
81,917
Current assets
Stocks
2,770
3,646
Debtors
5
6,749
31,503
Cash at bank and in hand
194,291
186,479
203,810
221,628
Creditors: amounts falling due within one year
6
(118,345)
(111,577)
Net current assets
85,465
110,051
Total assets less current liabilities
826,344
191,968
Creditors: amounts falling due after more than one year
7
(170,620)
(33,929)
Net assets
655,724
158,039
Reserves
Income and expenditure account
655,724
158,039
Members' funds
655,724
158,039

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

For the financial Period ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

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 13 March 2024 and are signed on its behalf by:
Mr G A Shaw
Director
Company registration number 12374534 (England and Wales)
WESTHOUGHTON GOLF CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023
- 2 -
1
Accounting policies
Company information

Westhoughton Golf Club Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Long Island, Off School Street, Westhoughton, Bolton, Greater Manchester, England, BL5 2BR.

 

The company is a Community Amateur Sports Club.

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
Reporting period

The financial statements are for a shorter period of 10 months compared to a 12 month period of trading last year. This was done to align the period end with the general meeting and the subscription cycle.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% reducing balance
Fixtures and fittings
15% reducing balance
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

WESTHOUGHTON GOLF CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
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.

1.8
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.

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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

WESTHOUGHTON GOLF CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2023
- 4 -
3
Employees

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

2023
2022
Number
Number
Total
10
12
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
36,900
76,536
113,436
Additions
629,785
46,363
676,148
At 31 October 2023
666,685
122,899
789,584
Depreciation and impairment
At 1 January 2023
-
0
31,519
31,519
Depreciation charged in the Period
-
0
17,186
17,186
At 31 October 2023
-
0
48,705
48,705
Carrying amount
At 31 October 2023
666,685
74,194
740,879
At 31 December 2022
36,900
45,017
81,917
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
6,749
31,503
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
25,473
12,504
Taxation and social security
6,876
1,937
Other creditors
85,996
97,136
118,345
111,577
WESTHOUGHTON GOLF CLUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2023
6
Creditors: amounts falling due within one year
(Continued)
- 5 -

The bank loan is secured by a mortgage in favour of Barclays Bank Plc.

Included in creditors falling due within one year are hire purchase balances of £2,571. These are secured on the assets concerned.

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
170,191
31,358
Other creditors
429
2,571
170,620
33,929

The bank loan is secured by a mortgage in favour of Barclays Bank Plc.

Included in creditors falling due within more than one year are hire purchase balances of £429. These are secured on the assets concerned.

8
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

2023-10-312023-01-01false13 March 2024CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr M DoyleMr S HolmesMr J N MayburyMr P McLaughlinMr T PitchfordMrs J WellsMrs R HolmesL H PhillipsMr G A Shaw123745342023-01-012023-10-31123745342023-10-31123745342022-12-3112374534core:LandBuildings2023-10-3112374534core:OtherPropertyPlantEquipment2023-10-3112374534core:LandBuildings2022-12-3112374534core:OtherPropertyPlantEquipment2022-12-3112374534core:CurrentFinancialInstrumentscore:WithinOneYear2023-10-3112374534core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3112374534core:Non-currentFinancialInstrumentscore:AfterOneYear2023-10-3112374534core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3112374534core:CurrentFinancialInstruments2023-10-3112374534core:CurrentFinancialInstruments2022-12-3112374534core:Non-currentFinancialInstruments2023-10-3112374534core:Non-currentFinancialInstruments2022-12-3112374534core:RetainedEarningsAccumulatedLosses2023-10-3112374534core:RetainedEarningsAccumulatedLosses2022-12-3112374534bus:Director92023-01-012023-10-3112374534core:PlantMachinery2023-01-012023-10-3112374534core:FurnitureFittings2023-01-012023-10-31123745342022-01-012022-12-3112374534core:LandBuildings2022-12-3112374534core:OtherPropertyPlantEquipment2022-12-31123745342022-12-3112374534core:LandBuildings2023-01-012023-10-3112374534core:OtherPropertyPlantEquipment2023-01-012023-10-3112374534core:WithinOneYear2023-10-3112374534core:WithinOneYear2022-12-3112374534bus:CompanyLimitedByGuarantee2023-01-012023-10-3112374534bus:SmallCompaniesRegimeForAccounts2023-01-012023-10-3112374534bus:FRS1022023-01-012023-10-3112374534bus:AuditExemptWithAccountantsReport2023-01-012023-10-3112374534bus:Director12023-01-012023-10-3112374534bus:Director22023-01-012023-10-3112374534bus:Director32023-01-012023-10-3112374534bus:Director42023-01-012023-10-3112374534bus:Director52023-01-012023-10-3112374534bus:Director62023-01-012023-10-3112374534bus:Director72023-01-012023-10-3112374534bus:Director82023-01-012023-10-3112374534bus:FullAccounts2023-01-012023-10-31xbrli:purexbrli:sharesiso4217:GBP