Company registration number 02310557 (England and Wales)
BEDALE GOLF CLUB LIMITED (BY GUARANTEE)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BEDALE GOLF CLUB LIMITED (BY GUARANTEE)
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
BEDALE GOLF CLUB LIMITED (BY GUARANTEE)
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
818,742
725,650
Investments
4
1
1
818,743
725,651
Current assets
Stocks
3,599
3,725
Debtors
5
153,635
26,701
Cash at bank and in hand
8,773
204,491
166,007
234,917
Creditors: amounts falling due within one year
6
(172,354)
(195,289)
Net current (liabilities)/assets
(6,347)
39,628
Total assets less current liabilities
812,396
765,279
Creditors: amounts falling due after more than one year
7
(64,528)
(27,711)
Government grants
(52,588)
(57,309)
Net assets
695,280
680,259
Reserves
Income and expenditure account
695,280
680,259
Members' funds
695,280
680,259

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

BEDALE GOLF CLUB LIMITED (BY GUARANTEE)
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2023
30 September 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 November 2023 and are signed on its behalf by:
Mr D R Brown
Mr G H Lilley
Director
Director
Mrs J Walker
Director
Company registration number 02310557 (England and Wales)
BEDALE GOLF CLUB LIMITED (BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information

Bedale Golf Club Limited (By Guarantee) is a private company limited by guarantee incorporated in England and Wales. The registered office is The Club House, Leyburn Road, Bedale, North Yorkshire, DL8 1EZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
2% on a straight line basis
Plant and machinery
15% on a straight line basis

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 credited or charged to surplus or deficit.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in surplus or deficit.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

BEDALE GOLF CLUB LIMITED (BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors 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 financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received

BEDALE GOLF CLUB LIMITED (BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
18
15
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2022
861,503
440,882
1,302,385
Additions
4,911
131,473
136,384
Disposals
-
0
(7,163)
(7,163)
At 30 September 2023
866,414
565,192
1,431,606
Depreciation and impairment
At 1 October 2022
204,041
372,694
576,735
Depreciation charged in the year
11,713
31,579
43,292
Eliminated in respect of disposals
-
0
(7,163)
(7,163)
At 30 September 2023
215,754
397,110
612,864
Carrying amount
At 30 September 2023
650,660
168,082
818,742
At 30 September 2022
657,462
68,188
725,650
BEDALE GOLF CLUB LIMITED (BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1
1
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
2,220
Amounts owed by group undertakings
137,064
9,436
Other debtors
16,571
15,045
153,635
26,701
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
9,861
14,152
Trade creditors
17,015
37,914
Taxation and social security
4,682
8,599
Other creditors
140,796
134,624
172,354
195,289

Hire purchase liabilities totalling £12,390 (Nil - 2022) are secured over the assets to which they relate.

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
17,586
27,711
Other creditors
46,942
-
0
64,528
27,711

Hire purchase liabilities totalling £46,942 (Nil- 2022) are secured over the assets to which they relate.

8
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £20.

BEDALE GOLF CLUB LIMITED (BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
9
Related party transactions

During the year there were recharges of £40,800 (2022- £40,800) and donations received of £54,004 (2022 - £69,746) from Bedale Golf Club Trading Limited, a wholly owned subsidiary of Bedale Golf Club Limited. Net amounts treated as being repaid by Bedale Golf Trading Limited in the year totalled Nil (2022 - £107,781 ). Net amounts treated as being received by Bedale Golf Trading Limited in the year totalled £32,823 (2022 - £Nil). At the year end £137,064 (2022 - £9,436) was owed from Bedale Golf Club Trading Limited and was included in debtors.

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