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REGISTERED NUMBER: 09386981 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Taunton & Pickeridge Golf Club Limited

Taunton & Pickeridge Golf Club Limited (Registered number: 09386981)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Taunton & Pickeridge Golf Club Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: A G Rhodes
A Davis
J L Ford
M R Evans
A R Mcgown
K T Jackson
A C Willett





REGISTERED OFFICE: Corfe
TAUNTON
Somerset
TA3 7BY





REGISTERED NUMBER: 09386981 (England and Wales)





ACCOUNTANTS: A C Mole
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

Taunton & Pickeridge Golf Club Limited (Registered number: 09386981)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 (300,619 ) (325,670 )
Tangible assets 5 1,962,301 1,880,570
1,661,682 1,554,900

CURRENT ASSETS
Stocks 26,254 33,189
Debtors 6 64,202 53,218
Cash at bank 487,860 506,827
578,316 593,234
CREDITORS
Amounts falling due within one year 7 679,317 614,948
NET CURRENT LIABILITIES (101,001 ) (21,714 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,560,681

1,533,186

CREDITORS
Amounts falling due after more than one
year

8

(125,956

)

(163,826

)

PROVISIONS FOR LIABILITIES (6,709 ) (6,014 )
NET ASSETS 1,428,016 1,363,346

RESERVES
Revaluation reserve 10 845,674 845,674
Income and expenditure account 582,342 517,672
1,428,016 1,363,346

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

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

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 21 February 2024 and were signed on its behalf by:



A G Rhodes - Director


Taunton & Pickeridge Golf Club Limited (Registered number: 09386981)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Taunton & Pickeridge 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, unless otherwise stated within these accounting policies

Turnover
Turnover represents sales of golf club membership and golf club services including bar and food sales, excluding value added tax.Turnover is recognised in the period to which the membership relates, or in which services are provided. Membership subscriptions received in advance are included within creditors as subscriptions in advance.

Goodwill
Negative goodwill arose on the acquisition by the limited company of the golf club business, and represents the difference between the net book value of the assets and liabilities acquired and consideration paid of £Nil. Goodwill is being amortised evenly over 20 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 33% on cost, 20% on cost, 10% on reducing balance, 10% on cost and 5% on cost
Assets under construction - NIL %

Land and Buildings have not been depreciated as the directors are of the opinion that the residual value is at least equal to the book value.

Once complete, assets under construction are transferred to the relevant asset class and depreciated beginning the period after completion.

Tangible fixed assets are held at cost. The company took advantage of the transitional provisions on adoption of FRS 102 and deemed previous valuations to be cost on transition.

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.

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.

Taunton & Pickeridge Golf Club Limited (Registered number: 09386981)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Going concern
Having considered the financial position of the company the Directors are of the opinion that there are no significant doubts about the ability of the company to continue to trade, and therefore the accounts have been prepared on a going concern basis. The balance sheet shows net liabilities at the balance sheet date, but this reflects the significant amount of Subscriptions Received in Advance which are included within short term creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 (501,027 )
AMORTISATION
At 1 July 2022 (175,357 )
Amortisation for year (25,051 )
At 30 June 2023 (200,408 )
NET BOOK VALUE
At 30 June 2023 (300,619 )
At 30 June 2022 (325,670 )

Negative goodwill arose on the acquisition by the limited company of the golf club business in 2015 from the unincorporated club, and represents the difference between the net book value of the assets and liabilities acquired and the consideration paid of £Nil.

5. TANGIBLE FIXED ASSETS
Assets
Land & under
Buildings Equipment construction Totals
£    £    £    £   
COST
At 1 July 2022 1,604,595 399,704 22,736 2,027,035
Additions 66,908 55,051 - 121,959
Disposals - (2,810 ) - (2,810 )
Transfers 22,736 - (22,736 ) -
At 30 June 2023 1,694,239 451,945 - 2,146,184
DEPRECIATION
At 1 July 2022 - 146,465 - 146,465
Charge for year - 38,947 - 38,947
Eliminated on disposal - (1,529 ) - (1,529 )
At 30 June 2023 - 183,883 - 183,883
NET BOOK VALUE
At 30 June 2023 1,694,239 268,062 - 1,962,301
At 30 June 2022 1,604,595 253,239 22,736 1,880,570

The company applied the transitional arrangements of Section 35 of FRS 102 and used a previous valuation as the deemed cost on transition for land and buildings.

Taunton & Pickeridge Golf Club Limited (Registered number: 09386981)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,358 15,074
Tax 1,385 4,489
Prepayments and accrued income 46,459 33,655
64,202 53,218

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Debentures 1,400 1,400
Bank loans and overdrafts 20,073 19,844
Hire purchase contracts 17,507 22,399
Trade creditors 22,591 7,246
Tax 1,869 -
Social security and other taxes 10,764 10,223
VAT 14,114 1,720
Other creditors 76,272 91,890
Subscriptions in advance 492,682 417,816
Accruals and deferred income 22,045 42,410
679,317 614,948

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 20,568 20,282
Bank loans - 2-5 years 41,457 54,968
Bank loans more 5 yr by instal - 7,232
Hire purchase contracts 63,931 81,344
125,956 163,826

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 7,232

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 82,098 102,326
Hire purchase contracts 81,438 103,743
163,536 206,069

Lloyds Bank PLC have a fixed charge on the company's freehold property and a floating charge by way of debenture over all the property or undertakings of the company.

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

10. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 845,674

Taunton & Pickeridge Golf Club Limited (Registered number: 09386981)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

11. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - 51,678