Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-3133292022-09-01falseGolf sport clubfalsetrue 00066211 2022-09-01 2023-08-31 00066211 2021-09-01 2022-08-31 00066211 2023-08-31 00066211 2022-08-31 00066211 c:Director4 2022-09-01 2023-08-31 00066211 d:Buildings 2022-09-01 2023-08-31 00066211 d:Buildings 2023-08-31 00066211 d:Buildings 2022-08-31 00066211 d:Buildings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00066211 d:Buildings d:LongLeaseholdAssets 2022-09-01 2023-08-31 00066211 d:Buildings d:ShortLeaseholdAssets 2022-09-01 2023-08-31 00066211 d:LandBuildings 2023-08-31 00066211 d:LandBuildings 2022-08-31 00066211 d:PlantMachinery 2022-09-01 2023-08-31 00066211 d:PlantMachinery 2023-08-31 00066211 d:PlantMachinery 2022-08-31 00066211 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00066211 d:FurnitureFittings 2022-09-01 2023-08-31 00066211 d:FurnitureFittings 2023-08-31 00066211 d:FurnitureFittings 2022-08-31 00066211 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00066211 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00066211 d:CurrentFinancialInstruments 2023-08-31 00066211 d:CurrentFinancialInstruments 2022-08-31 00066211 d:Non-currentFinancialInstruments 2023-08-31 00066211 d:Non-currentFinancialInstruments 2022-08-31 00066211 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 00066211 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 00066211 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 00066211 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 00066211 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 00066211 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 00066211 d:ShareCapital 2023-08-31 00066211 d:ShareCapital 2022-08-31 00066211 d:CapitalRedemptionReserve 2023-08-31 00066211 d:CapitalRedemptionReserve 2022-08-31 00066211 d:RetainedEarningsAccumulatedLosses 2023-08-31 00066211 d:RetainedEarningsAccumulatedLosses 2022-08-31 00066211 c:FRS102 2022-09-01 2023-08-31 00066211 c:Audited 2022-09-01 2023-08-31 00066211 c:FullAccounts 2022-09-01 2023-08-31 00066211 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 00066211 d:WithinOneYear 2023-08-31 00066211 d:WithinOneYear 2022-08-31 00066211 d:BetweenOneFiveYears 2023-08-31 00066211 d:BetweenOneFiveYears 2022-08-31 00066211 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 00066211 d:HirePurchaseContracts d:WithinOneYear 2022-08-31 00066211 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 00066211 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-08-31 00066211 c:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 00066211 2 2022-09-01 2023-08-31 00066211 d:Buildings d:LeasedAssetsHeldAsLessee 2023-08-31 00066211 d:Buildings d:LeasedAssetsHeldAsLessee 2022-08-31 00066211 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-08-31 00066211 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-08-31 00066211 d:LeasedAssetsHeldAsLessee 2023-08-31 00066211 d:LeasedAssetsHeldAsLessee 2022-08-31 iso4217:GBP xbrli:pure

Registered number: 00066211









WEST ESSEX GOLF CLUB LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
WEST ESSEX GOLF CLUB LIMITED
REGISTERED NUMBER: 00066211

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,660,953
2,737,290

Investments
  
50
-

  
2,661,003
2,737,290

Current assets
  

Stocks
 6 
8,928
11,474

Debtors: amounts falling due within one year
 7 
486,285
550,359

Cash at bank and in hand
 8 
217,609
204,206

  
712,822
766,039

Creditors: amounts falling due within one year
 9 
(1,071,373)
(1,042,837)

Net current liabilities
  
 
 
(358,551)
 
 
(276,798)

Total assets less current liabilities
  
2,302,452
2,460,492

Creditors: amounts falling due after more than one year
 10 
(200,162)
(200,620)

  

Net assets
  
2,102,290
2,259,872


Capital and reserves
  

Called up share capital 
  
356
356

Property reserve fund
  
1,157,833
1,157,833

Profit and loss account
  
944,101
1,101,683

  
2,102,290
2,259,872


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 January 2024.




Page 1

 
WEST ESSEX GOLF CLUB LIMITED
REGISTERED NUMBER: 00066211
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

K Lee
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
WEST ESSEX GOLF CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

West Essex Golf Club Limited is a private company, limited by shares and incorporated in England and
Wales, United Kingdom, with a registration number 00066211. The address of the registered office is
Sewardstonebury, Chingford, London E4 7QL. The company operates a Golf Club.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from subscriptions is received in advance and recognised on a pro rata basis.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
WEST ESSEX GOLF CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Tangible fixed assets

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
0-15%
Short-term leasehold property
-
5-10%
Fixtures and fittings
-
5-20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
WEST ESSEX GOLF CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 5

 
WEST ESSEX GOLF CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Sales and administration
29
33


4.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 September 2022
3,008,380
511,855
439,948
3,960,183


Additions
20,811
19,090
3,233
43,134



At 31 August 2023

3,029,191
530,945
443,181
4,003,317



Depreciation


At 1 September 2022
430,661
418,270
373,962
1,222,893


Charge for the year on owned assets
66,348
35,055
18,068
119,471



At 31 August 2023

497,009
453,325
392,030
1,342,364



Net book value



At 31 August 2023
2,532,182
77,620
51,151
2,660,953



At 31 August 2022
2,577,719
93,585
65,986
2,737,290




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
2,532,182
2,577,719

2,532,182
2,577,719


The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


Page 6

 
WEST ESSEX GOLF CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

           4.Tangible fixed assets (continued)

2023
2022
£
£



Land and buildings
24,055
26,060

Plant and machinery
12,600
16,800

36,655
42,860


5.


Fixed asset investment

The club holds the following investments which were donated to the Club several years ago:
British Land Co Plc - 300 ordinary shares of 25p each.
As there was no cost to these assets, no value is included in the balance sheet.
At 31 August 2023, the market value of these shares was £1,021 (2022: £1,255).


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
8,928
11,474

8,928
11,474



7.


Debtors

2023
2022
£
£


Trade debtors
457,643
447,867

Other debtors
9,052
16,016

Prepayments and accrued income
19,590
86,476

486,285
550,359


Page 7

 
WEST ESSEX GOLF CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
217,609
204,206

217,609
204,206



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Payments received on account
729,678
708,273

Trade creditors
71,142
65,660

Corporation tax
6,290
25,143

Other taxation and social security
46,663
40,463

Obligations under finance lease and hire purchase contracts
7,100
6,800

Other creditors
162,642
150,510

Accruals and deferred income
47,858
45,988

1,071,373
1,042,837



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
193,794
184,467

Net obligations under finance leases and hire purchase contracts
6,368
16,153

200,162
200,620


On 19 July 1989 the Council approved an Index Linked Loan Note scheme to provide long term finance
for the new clubhouse.
Loan Notes are only redeemable in accordance with the conditions endorsed thereon. The indexed value
of a £500 loan note at 31 August 2023 was £1,639 (2022: £1,502).

Page 8

 
WEST ESSEX GOLF CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due 1-2 years

Other loans
193,795
184,466



193,795
184,466





12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
7,100
6,779

Between 1-5 years
6,368
13,468

13,468
20,247




13.


Pension commitments

The Company operates a define contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £9,151. (2022: 6,709).
The amounts payable to the fund at the balance sheet date by the company was £1,882 (2022: Nil).

Page 9

 
WEST ESSEX GOLF CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

14.


Commitments under operating leases

At 31 August 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
14,899
6,799

Later than 1 year and not later than 5 years
32,757
13,568

47,656
20,367


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 August 2023 was unqualified.

The audit report was signed on 3 January 2024 by Charalambos Patsalides (Senior Statutory Auditor) on behalf of Haslers.

 
Page 10