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REGISTERED NUMBER: 00108573 (England and Wales)















WETHERBY GOLF CLUB LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






WETHERBY GOLF CLUB LIMITED (REGISTERED NUMBER: 00108573)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WETHERBY GOLF CLUB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Mr P E Bentley
Mrs R Nicholson
Mr D S Syers
Mr M A Brown
Mr C J Carnazza
Mr T J Nicholson
Mr B Chorzelewski
Mr S P Clinker





REGISTERED OFFICE: Linton Lane
Wetherby
LS22 4JF





REGISTERED NUMBER: 00108573 (England and Wales)





ACCOUNTANTS: DSC
Chartered Accountants
Tattersall House
East Parade
Harrogate
North Yorkshire
HG1 5LT

WETHERBY GOLF CLUB LIMITED (REGISTERED NUMBER: 00108573)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,890,841 1,697,135

CURRENT ASSETS
Stocks 8,721 5,329
Debtors 5 29,614 24,968
Cash at bank and in hand 492,160 759,163
530,495 789,460
CREDITORS
Amounts falling due within one year 6 720,316 782,415
NET CURRENT (LIABILITIES)/ASSETS (189,821 ) 7,045
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,701,020

1,704,180

CREDITORS
Amounts falling due after more than one year 7 101,210 166,399
NET ASSETS 1,599,810 1,537,781

RESERVES
Retained earnings 1,599,810 1,537,781
1,599,810 1,537,781

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

WETHERBY GOLF CLUB LIMITED (REGISTERED NUMBER: 00108573)

BALANCE SHEET - continued
31 OCTOBER 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 1 March 2024 and were signed on its behalf by:





Mr D S Syers - Director


WETHERBY GOLF CLUB LIMITED (REGISTERED NUMBER: 00108573)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Wetherby Golf Club Limited is a private company, limited by guarantee , 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 modified to include certain financial instruments at fair value.

Turnover
Income 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Course development - 4% on cost
Plant, fixtures and fittings - 10% on cost
Clubhouse refurbishment - 10% on cost

The clubhouse is not depreciated in line with FRS 102 on the grounds that it would be immaterial because the estimated residual value of the asset is not materially different to its current carrying value. The clubhouse is reviewed for impairment in accordance with FRS 102 at the end of each accounting period.

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

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.


WETHERBY GOLF CLUB LIMITED (REGISTERED NUMBER: 00108573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

WETHERBY GOLF CLUB LIMITED (REGISTERED NUMBER: 00108573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

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, 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.

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, including creditors and bank loans 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.

Pensions
The company operates a defined contribution pension scheme. Contributions payable for the year are charged in the profit and loss account.

Cash and cash equivalents
Cash at bank and in hand 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 22 ) .

WETHERBY GOLF CLUB LIMITED (REGISTERED NUMBER: 00108573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Freehold
land and Course Clubhouse
clubhouse development surrounds
£    £    £   
COST
At 1 November 2022 928,393 957,119 59,775
Additions - - -
Disposals - - (59,775 )
At 31 October 2023 928,393 957,119 -
DEPRECIATION
At 1 November 2022 172,697 316,722 59,775
Charge for year - 38,329 -
Eliminated on disposal - - (59,775 )
At 31 October 2023 172,697 355,051 -
NET BOOK VALUE
At 31 October 2023 755,696 602,068 -
At 31 October 2022 755,696 640,397 -

Plant,
fixtures
and Clubhouse
fittings refurbishment Totals
£    £    £   
COST
At 1 November 2022 935,517 - 2,880,804
Additions 53,719 273,074 326,793
Disposals - - (59,775 )
At 31 October 2023 989,236 273,074 3,147,822
DEPRECIATION
At 1 November 2022 634,475 - 1,183,669
Charge for year 67,451 27,307 133,087
Eliminated on disposal - - (59,775 )
At 31 October 2023 701,926 27,307 1,256,981
NET BOOK VALUE
At 31 October 2023 287,310 245,767 1,890,841
At 31 October 2022 301,042 - 1,697,135

Included in cost of land and buildings is freehold land of £ 190,000 (2022 - £ 190,000 ) which is not depreciated.

The net book value of tangible fixed assets includes £ 61,050 (2022 - £ 72,255 ) in respect of assets held under hire purchase contracts.

WETHERBY GOLF CLUB LIMITED (REGISTERED NUMBER: 00108573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 942 2,388
Other debtors 3,497 372
VAT 3,058 -
Prepayments and accrued income 22,117 22,208
29,614 24,968

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,829 9,829
Other loans 40,000 30,000
Hire purchase contracts 15,664 18,207
Trade creditors 53,158 77,437
Tax 2,876 1,748
Social security and other taxes 8,133 9,007
Prepaid subscriptions 487,404 504,780
Receipts in advance 34,132 52,430
Funds held on behalf of
Sections 34,009 39,614
Other creditors and accruals 35,111 39,363
720,316 782,415

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 17,541 27,066
Other loans - 1-2 years 50,000 30,000
Other loans - 2-5 years 30,000 90,000
Hire purchase contracts 3,669 19,333
101,210 166,399

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 120,000 150,000
Hire purchase contracts 19,333 37,540
139,333 187,540