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REGISTERED NUMBER: 00089303 (England and Wales)















THE PANNAL GOLF CLUB (HARROGATE) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






THE PANNAL GOLF CLUB (HARROGATE) LIMITED (REGISTERED NUMBER: 00089303)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE PANNAL GOLF CLUB (HARROGATE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R Maxwell
M R Boyle
I P Webber
G Pryde
S J Caldwell
R J Topham
C Davies
A R North


REGISTERED OFFICE: Follifoot Road
Pannal
Harrogate
North Yorkshire
HG3 1ES


REGISTERED NUMBER: 00089303 (England and Wales)


INDEPENDENT AUDITORS: DSC Accountants Ltd
Chartered Accountants
Statutory Auditors
Tattersall House
East Parade
Harrogate
North Yorkshire
HG1 5LT


BANKERS: Handlesbanken
1 Greengate
Cardale Park
Harrogate
HG3 1GY

THE PANNAL GOLF CLUB (HARROGATE) LIMITED (REGISTERED NUMBER: 00089303)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,078,343 1,144,629

CURRENT ASSETS
Stocks 16,006 13,580
Debtors 5 13,972 14,007
Cash at bank and in hand 654,468 523,178
684,446 550,765
CREDITORS
Amounts falling due within one year 6 714,071 701,062
NET CURRENT LIABILITIES (29,625 ) (150,297 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,048,718

994,332

CREDITORS
Amounts falling due after more than one year 7 133,222 181,659
NET ASSETS 915,496 812,673

RESERVES
Retained earnings 915,496 812,673
MEMBERS' FUNDS 915,496 812,673

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 February 2024 and were signed on its behalf by:




R Maxwell - Director



A R North - Director


THE PANNAL GOLF CLUB (HARROGATE) LIMITED (REGISTERED NUMBER: 00089303)

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

1. STATUTORY INFORMATION

The Pannal Golf Club (Harrogate) 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.

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
Provision is made for depreciation on tangible assets, other than freehold land, at rates calculated to write off the cost of each asset over its expected useful life as follows:

Freehold buildings and course
features

Over 10 - 25 years

House fixtures and equipmentOver 5 - 10 years
Green equipmentAssets obtained under hire purchase contracts or finance leases are
depreciated over the term of the contract leaving a 10% residual value. Assets
that are owned are depreciated over 7 years, leaving a 10% residual value.



In the event of any income being received by the club with a condition that it must be used to purchase a specific asset, then the income and any associated depreciation is recognised using the accrual model and is recognised in the profit and loss account on a systematic basis over the expected useful life of the asset.

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
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks and other third parties.

Financial assets and liabilities are measured at cost and 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.


THE PANNAL GOLF CLUB (HARROGATE) LIMITED (REGISTERED NUMBER: 00089303)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account as appropriate.

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 that have been enacted or substantively enacted by the balance sheet date.

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.

Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. All other leases are classified as operating leases.

Operating leases are recognised as an expense on a straight line basis over the lease term.

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 23 ) .

THE PANNAL GOLF CLUB (HARROGATE) LIMITED (REGISTERED NUMBER: 00089303)

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

4. TANGIBLE FIXED ASSETS
House
Freehold fixtures
land and Green and
buildings equipment fittings Totals
£    £    £    £   
COST
At 1 January 2023 1,091,536 668,229 602,163 2,361,928
Additions 51,096 - 31,352 82,448
Disposals - - (571 ) (571 )
At 31 December 2023 1,142,632 668,229 632,944 2,443,805
DEPRECIATION
At 1 January 2023 386,769 406,969 423,561 1,217,299
Charge for year 46,265 59,749 42,556 148,570
Eliminated on disposal - - (407 ) (407 )
At 31 December 2023 433,034 466,718 465,710 1,365,462
NET BOOK VALUE
At 31 December 2023 709,598 201,511 167,234 1,078,343
At 31 December 2022 704,767 261,260 178,602 1,144,629

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Green
equipment
£   
COST
At 1 January 2023
and 31 December 2023 267,178
DEPRECIATION
At 1 January 2023 83,773
Charge for year 43,993
At 31 December 2023 127,766
NET BOOK VALUE
At 31 December 2023 139,412
At 31 December 2022 183,405

THE PANNAL GOLF CLUB (HARROGATE) LIMITED (REGISTERED NUMBER: 00089303)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,108 -
Prepayments and accrued income 12,864 14,007
13,972 14,007

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 46,328 53,364
Trade creditors 42,406 31,569
Social security and other taxes 29,296 16,172
Subscriptions and other amounts received in
advance

558,628

569,684
Other creditors 8,267 7,721
Accruals and deferred income 29,146 22,552
714,071 701,062

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 88,920 135,248
Accruals and deferred income 44,302 46,411
133,222 181,659

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 135,248 188,612

The hire purchase contracts are secured on the relevant assets.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham French (Senior Statutory Auditor)
for and on behalf of DSC Accountants Ltd

THE PANNAL GOLF CLUB (HARROGATE) LIMITED (REGISTERED NUMBER: 00089303)

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

10. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 104,000 -

In addition to the above, a further sum of £29,000 was contracted for post year end but prior to the approval of the accounts.

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

In common with many other businesses of our size and nature we use our auditors to provide tax advice and to represent us, as necessary, at tax tribunals.

12. SHARE CAPITAL

The club is limited by guarantee and has no share capital.