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COMPANY REGISTRATION NUMBER: 06425158
HAINAULT GOLF CLUB LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2022
HAINAULT GOLF CLUB LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
HAINAULT GOLF CLUB LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
Director
T A Pham
Registered office
215 Mare Street
London
England
E8 3QE
Accountants
TC BSG Valentine Limited
Accountants
Lynton House
7-12 Tavistock Square
London
WC1H 9BQ
HAINAULT GOLF CLUB LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2022
2022
2021
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
268,794
381,965
CURRENT ASSETS
Stocks
1,843
1,675
Debtors
6
354,461
521,476
Cash at bank and in hand
270,062
696,288
---------
------------
626,366
1,219,439
CREDITORS: amounts falling due within one year
7
( 549,905)
( 424,848)
---------
------------
NET CURRENT ASSETS
76,461
794,591
---------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
345,255
1,176,556
CREDITORS: amounts falling due after more than one year
8
( 3,930,435)
( 4,780,460)
------------
------------
NET LIABILITIES
( 3,585,180)
( 3,603,904)
------------
------------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 3,585,280)
( 3,604,004)
------------
------------
SHAREHOLDERS DEFICIT
( 3,585,180)
( 3,603,904)
------------
------------
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 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HAINAULT GOLF CLUB LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2022
These financial statements were approved by the board of directors and authorised for issue on 12 February 2024 , and are signed on behalf of the board by:
T A Pham
Director
Company registration number: 06425158
HAINAULT GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 215 Mare Street, London, E8 3QE, England.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Long leasehold property
-
Straight line over 159 months
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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. 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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2021: Nil).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2022
1,413,035
847,275
3,000
17,097
2,280,407
Additions
3,736
64,000
67,736
------------
---------
-------
--------
------------
At 31 December 2022
1,413,035
851,011
3,000
81,097
2,348,143
------------
---------
-------
--------
------------
Depreciation
At 1 January 2022
1,260,389
619,369
2,899
15,785
1,898,442
Charge for the year
106,644
57,910
25
16,328
180,907
------------
---------
-------
--------
------------
At 31 December 2022
1,367,033
677,279
2,924
32,113
2,079,349
------------
---------
-------
--------
------------
Carrying amount
At 31 December 2022
46,002
173,732
76
48,984
268,794
------------
---------
-------
--------
------------
At 31 December 2021
152,646
227,906
101
1,312
381,965
------------
---------
-------
--------
------------
6. Debtors
2022
2021
£
£
Other debtors
354,461
521,476
---------
---------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
196,122
217,314
Social security and other taxes
304,370
188,484
Other creditors
49,413
19,050
---------
---------
549,905
424,848
---------
---------
8. Creditors: amounts falling due after more than one year
2022
2021
£
£
Other creditors
3,930,435
4,780,460
------------
------------