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REGISTERED NUMBER: 00998420 (England and Wales)












ROMSEY GOLF CLUB LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






ROMSEY GOLF CLUB LIMITED (REGISTERED NUMBER: 00998420)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ROMSEY GOLF CLUB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: M S Cole
K M Squibb
S P Marsh-Collis
J Ward
D Ridolfo





SECRETARY: M S Cole





REGISTERED OFFICE: Romsey Road
Nursling
Southampton
Hampshire
SO16 0XW





REGISTERED NUMBER: 00998420 (England and Wales)

ROMSEY GOLF CLUB LIMITED (REGISTERED NUMBER: 00998420)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 171,457 131,145

CURRENT ASSETS
Stocks 18,053 14,882
Debtors 5 48,121 37,226
Cash at bank and in hand 378,982 363,483
445,156 415,591
CREDITORS
Amounts falling due within one year 6 (432,742 ) (372,203 )
NET CURRENT ASSETS 12,414 43,388
TOTAL ASSETS LESS CURRENT
LIABILITIES

183,871

174,533

CREDITORS
Amounts falling due after more than one
year

7

(38,985

)

(59,397

)

PROVISIONS FOR LIABILITIES (4,337 ) (2,929 )
NET ASSETS 140,549 112,207

RESERVES
Income and expenditure account 140,549 112,207
140,549 112,207

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 18 January 2024 and were signed on its behalf by:





M S Cole - Director


ROMSEY GOLF CLUB LIMITED (REGISTERED NUMBER: 00998420)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Romsey 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 FRS 102 "The Financial Reporting Standards 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 £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Membership subscriptions, green fee, facility hire, and event income are accounted for on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - Over the length of the lease
Plant and machinery - 25% Reducing balance
Fixtures and fittings - Straight line over 4 years
Capitalised course work - Straight line over 10 years

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Stocks
Stocks are valued at the lower of cost and selling price less costs to sell, after making due allowance for obsolete and slow moving items.


ROMSEY GOLF CLUB LIMITED (REGISTERED NUMBER: 00998420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued
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 and deferred taxation assets and liabilities are not discounted.

Current and deferred 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial assets
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 assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 26 ) .

ROMSEY GOLF CLUB LIMITED (REGISTERED NUMBER: 00998420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Capitalised
property machinery fittings course work Totals
£ £ £ £ £
COST
At 1 October 2022 500,669 420,272 114,153 34,262 1,069,356
Additions 14,215 - 64,368 3,503 82,086
Disposals - - (6,912 ) - (6,912 )
Reclassification/transfer 38,765 - (1,000 ) (37,765 ) -
At 30 September 2023 553,649 420,272 170,609 - 1,144,530
DEPRECIATION
At 1 October 2022 467,458 371,437 85,757 13,559 938,211
Charge for year 3,914 15,479 18,675 3,706 41,774
Eliminated on disposal - - (6,912 ) - (6,912 )
Reclassification/transfer 17,265 - - (17,265 ) -
At 30 September 2023 488,637 386,916 97,520 - 973,073
NET BOOK VALUE
At 30 September 2023 65,012 33,356 73,089 - 171,457
At 30 September 2022 33,211 48,835 28,396 20,703 131,145

The net book value of assets held under hire purchase contracts was £Nil (2022: £31,378) at the balance sheet date. The depreciation charged on assets held under hire purchase contracts in the year was £Nil (2022: £10,459).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 16,460 11,602
Other debtors 31,661 25,624
48,121 37,226

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans 10,000 10,000
Hire purchase contracts (see note 8) - 19,985
Trade creditors 36,165 34,974
Taxation and social security 15,124 14,850
Other creditors 371,453 292,394
432,742 372,203

ROMSEY GOLF CLUB LIMITED (REGISTERED NUMBER: 00998420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 19,150 28,920
Other creditors 19,835 30,477
38,985 59,397

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year - 19,985

Non-cancellable
operating leases
2023 2022
£ £
Within one year 40,358 39,241
Between one and five years 160,281 156,432
In more than five years 88,384 127,492
289,023 323,165

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts - 19,985

Hire purchase liabilities are secured against the assets to which they relate.

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

The Report of the Auditors was unqualified.

James Flood ACA (Senior Statutory Auditor)
for and on behalf of Hopper Williams & Bell Limited

ROMSEY GOLF CLUB LIMITED (REGISTERED NUMBER: 00998420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


11. CAPITAL

The company is incorporated as a company limited by guarantee and not having share capital. Every member of the Club undertakes to contribute to the assets in the event of the same being wound up during the time he/she is a member or within one year afterwards, for the payment of debts and liabilities of the Club contracted before the time he/she ceases to be a member, and the cost, charges and expenses of winding up of the same, and for the adjustment of the rights of the contributories amongst themselves, such as may be required not exceeding £10.