Company Registration No. 10397564 (England and Wales)
HEXHAM GOLF AND HOSPITALITY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
12 Bessemer Court
Hownsgill Industrial Park
Knitsley Lane
Consett
Co Durham
DH8 7BL
HEXHAM GOLF AND HOSPITALITY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
HEXHAM GOLF AND HOSPITALITY LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
18,678
25,231
Current assets
Stocks
8,207
8,609
Debtors
4
4,910
4,249
Cash at bank and in hand
68,109
56,516
81,226
69,374
Creditors: amounts falling due within one year
5
(99,202)
(92,766)
Net current liabilities
(17,976)
(23,392)
Net assets
702
1,839
Reserves
Other reserves
58,000
35,000
Income and expenditure account
(57,298)
(33,161)
Members' funds
702
1,839

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.

HEXHAM GOLF AND HOSPITALITY LIMITED
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 21 December 2023 and are signed on its behalf by:
Mr G Wilson (Chairman)
Director
Company Registration No. 10397564
HEXHAM GOLF AND HOSPITALITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information

Hexham Golf and Hospitality Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Spital Park, Hexham, Northumberland, NE46 3RZ.

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.

1.2
Going concern

In determining the appropriateness of the use of the going concern basis of preparation of the financial statements, the directors were required to consider whether the company could continue in operational existence for the foreseeable future. true

 

The directors considered the following in making their assessment;

 

Due to the industry that Hexham Golf and Hospitality Limited operates within, it is expected that the current economic climate will impact the business's trade over the coming months. The directors have identified and assessed the key risks that may impact the company, such as loss of customers and potential price rises from suppliers. Measures have been taken to mitigate the threat to loss of profits.

 

These risks cannot be completely offset and therefore some level of uncertainty remains. However, based on their completed risk assessment, the directors remain optimistic that the company will continue in existence for the foreseeable future and therefore believe preparation of the accounts using the going concern basis to be appropriate.

1.3
Income and expenditure

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

 

Expenses include VAT where applicable as the company cannot reclaim it.

1.4
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.

HEXHAM GOLF AND HOSPITALITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -

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:

Plant and equipment
20% Straight line
Fixtures and fittings
10%-20% Straight line

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.

1.5
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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

HEXHAM GOLF AND HOSPITALITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company only enters into financial instruments transactions that result in the recognition of basic debt financial assets and liabilities like trade and other accounts receivable and payable, cash and bank balances and loans to or from related parties, including fellow group companies. All such

instruments are due within one year, and are measured, initially and subsequently at the transaction price.

 

At the end of each reporting period debt financial assets are assessed for impairment, and their carrying value reduced if necessary. Any impairment charge is recognised in the profit and loss account.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

 

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

 

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

HEXHAM GOLF AND HOSPITALITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.10
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.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Officers and employees

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

2023
2022
Number
Number
Total
12
11
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 October 2022
27,100
114,724
141,824
Additions
-
0
1,393
1,393
At 30 September 2023
27,100
116,117
143,217
Depreciation and impairment
At 1 October 2022
12,849
103,744
116,593
Depreciation charged in the year
5,420
2,526
7,946
At 30 September 2023
18,269
106,270
124,539
Carrying amount
At 30 September 2023
8,831
9,847
18,678
At 30 September 2022
14,251
10,980
25,231
HEXHAM GOLF AND HOSPITALITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade Debtors
572
-
0
Other debtors
4,338
4,249
4,910
4,249
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
22,132
24,719
Taxation and social security
33,928
20,249
Other creditors
37,859
44,406
Accruals and deferred income
5,283
3,392
99,202
92,766
6
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 £1.

7
Related party transactions

Hexham Golf & Hospitality Limited operates a loan account with Hexham Golf Club Limited, a company limited by guarantee which is the sole subscriber to Hexham Golf & Hospitality Limited.

 

At 30 September 2023 a balance of £17,919 (2022: £25,773) was owed to Hexham Golf Club Limited by Hexham Golf & Hospitality Limited.

 

No interest has been charged to Hexham Golf & Hospitality Limited on this balance.

2023-09-302022-10-01false21 December 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr Martin BaylyMs Anne J D BennettMr Stephen BrownMr Ian CrawfordMr David J DonaldsonMr Sean HeadsMr John J KielyMs Janet PurdyMr Peter J SmithMr William StevensonMr Graeme WilsonMs Sarah L MatherMr Damon Wattsfalse103975642022-10-012023-09-30103975642023-09-30103975642022-09-3010397564core:PlantMachinery2023-09-3010397564core:FurnitureFittings2023-09-3010397564core:PlantMachinery2022-09-3010397564core:FurnitureFittings2022-09-3010397564core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3010397564core:CurrentFinancialInstrumentscore:WithinOneYear2022-09-3010397564core:CurrentFinancialInstruments2023-09-3010397564core:CurrentFinancialInstruments2022-09-3010397564core:OtherMiscellaneousReserve2023-09-3010397564core:OtherMiscellaneousReserve2022-09-3010397564core:RetainedEarningsAccumulatedLosses2023-09-3010397564core:RetainedEarningsAccumulatedLosses2022-09-3010397564bus:Director112022-10-012023-09-3010397564core:PlantMachinery2022-10-012023-09-3010397564core:FurnitureFittings2022-10-012023-09-30103975642021-10-012022-09-3010397564core:PlantMachinery2022-09-3010397564core:FurnitureFittings2022-09-30103975642022-09-3010397564bus:CompanyLimitedByGuarantee2022-10-012023-09-3010397564bus:SmallCompaniesRegimeForAccounts2022-10-012023-09-3010397564bus:FRS1022022-10-012023-09-3010397564bus:AuditExemptWithAccountantsReport2022-10-012023-09-3010397564bus:Director12022-10-012023-09-3010397564bus:Director22022-10-012023-09-3010397564bus:Director32022-10-012023-09-3010397564bus:Director42022-10-012023-09-3010397564bus:Director52022-10-012023-09-3010397564bus:Director62022-10-012023-09-3010397564bus:Director72022-10-012023-09-3010397564bus:Director82022-10-012023-09-3010397564bus:Director92022-10-012023-09-3010397564bus:Director102022-10-012023-09-3010397564bus:Director122022-10-012023-09-3010397564bus:Director132022-10-012023-09-3010397564bus:FullAccounts2022-10-012023-09-30xbrli:purexbrli:sharesiso4217:GBP