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REGISTERED NUMBER: 00064656 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Wearside Golf Club Limited

Wearside Golf Club Limited (Registered number: 00064656)






Contents of the Financial Statements
for the year ended 30 September 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Wearside Golf Club Limited

Company Information
for the year ended 30 September 2023







DIRECTORS: A Sanders
S Hixon
R R Hall
G Hope
S Fraser
E Patterson
R Tatters
A Thompson
D Bean
P L Pollard
P M Cockburn


SECRETARY: S A Belchamber


REGISTERED OFFICE: Coxgreen
Sunderland
Tyne & Wear
SR4 9JT


REGISTERED NUMBER: 00064656 (England and Wales)


ACCOUNTANTS: TTR Barnes Limited
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG


BANKERS: National Westminster Bank Plc
52 Fawcett Street
Sunderland
Tyne and Wear
SR1 1SB

Wearside Golf Club Limited (Registered number: 00064656)

Statement of Financial Position
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 817,721 751,742
Investments 5 1 1
817,722 751,743

CURRENT ASSETS
Stocks 15,700 -
Debtors 6 241,468 210,421
Cash at bank and in hand 492,269 507,616
749,437 718,037
CREDITORS
Amounts falling due within one year 7 246,128 238,801
NET CURRENT ASSETS 503,309 479,236
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,321,031

1,230,979

CREDITORS
Amounts falling due after more than one
year

8

-

8,329
NET ASSETS 1,321,031 1,222,650

RESERVES
Special reserves 10,000 10,000
Revaluation reserve 274,787 274,787
Capital reserves 42,142 42,142
Income and expenditure account 994,102 895,721
1,321,031 1,222,650

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 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.

Wearside Golf Club Limited (Registered number: 00064656)

Statement of Financial Position - continued
30 September 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 13 December 2023 and were signed on its behalf by:





G Hope - Director


Wearside Golf Club Limited (Registered number: 00064656)

Notes to the Financial Statements
for the year ended 30 September 2023

1. STATUTORY INFORMATION

Wearside 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.

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 as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider appropriate.

Turnover
Turnover represents amounts receivable for goods and services excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Machinery and equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stock is valued at the lower of costs and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

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 surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

In order to comply with FRS102, hire purchase liabilities have been restated to fair value. This means that the annual hire purchase interest charge has been calculated under the sum-of-digits method, whereas previously the annual hire purchase interest charge had been calculated under straight line method.

Deferred income
Income arising from the sale of life memberships is recognised at a rate equivalent to the annual rate for a gentleman's subscription.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

Wearside Golf Club Limited (Registered number: 00064656)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 October 2022 700,891 731,592 1,432,483
Additions 76,432 27,396 103,828
At 30 September 2023 777,323 758,988 1,536,311
DEPRECIATION
At 1 October 2022 93,310 587,431 680,741
Charge for year 14,373 23,476 37,849
At 30 September 2023 107,683 610,907 718,590
NET BOOK VALUE
At 30 September 2023 669,640 148,081 817,721
At 30 September 2022 607,581 144,161 751,742

Cost or valuation at 30 September 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2006 455,826 - 455,826
Valuation in 2017 (290,000 ) - (290,000 )
Cost 611,497 758,988 1,370,485
777,323 758,988 1,536,311

The revaluation in 2017 took place on 30 September 2017 and was performed by Robertson Simpson. The directors consider this valuation to be a true reflection of the current value of land & buildings.


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2022
and 30 September 2023 1
NET BOOK VALUE
At 30 September 2023 1
At 30 September 2022 1

The investment in the subsidiary represents 100% of the ordinary share capital held in Wearside Golf Club (Trading) Limited, which was incorporated in the year.

Wearside Golf Club Limited (Registered number: 00064656)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 219,436 200,269
Other debtors 22,032 10,152
241,468 210,421

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) - 11,219
Trade creditors 33,234 20,084
Taxation and social security 7,774 7,631
Other creditors 205,120 199,867
246,128 238,801

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) - 4,404
Other creditors - 3,925
- 8,329

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loan - 11,219

Amounts falling due between one and two years:
Bank loan - 4,404

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 15,623

The bank borrowing is secured by a legal charge over the company's assets.

Wearside Golf Club Limited (Registered number: 00064656)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

11. RELATED PARTY DISCLOSURES

Mr I Smith

A director of the company.

During the year I Smith paid rent of £3,900 (2022 - £3,900) to the Golf Club.

12. MEMBERS' UNDERTAKING

The company is limited by guarantee in that every member undertakes to contribute such amounts as may be required in the event of the company being wound up, for the payments of debts and liabilities and for the costs of winding up, not exceeding £1.