Registered number
11919201
Boughton Park Limited
Unaudited Filleted Accounts
31 December 2023
Boughton Park Limited
Registered number: 11919201
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,072,660 1,154,415
Investments 4 10,492 10,492
1,083,152 1,164,907
Current assets
Stocks 8,266 11,886
Debtors 5 27,588 41,400
Cash at bank and in hand 310,793 203,367
346,647 256,653
Creditors: amounts falling due within one year 6 (502,771) (466,188)
Net current liabilities (156,124) (209,535)
Total assets less current liabilities 927,028 955,372
Creditors: amounts falling due after more than one year 7 (479,257) (539,131)
Net assets 447,771 416,241
Reserves
Capital contribution reserve 9 581,703 581,703
Profit and loss account (133,932) (165,462)
Members' funds 447,771 416,241
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Candlin
Director
Approved by the board on 20 February 2024
Boughton Park Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Course developments over 50 years
Tennis courts over 10 years
Plant and machinery over 5 - 25 years
Fixtures, fittings, tools and equipment over 4 - 10 years
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 20 30
3 Tangible fixed assets
Course developments Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 361,819 1,067,575 1,429,394
Additions - 54,185 54,185
Disposals - (11,968) (11,968)
At 31 December 2023 361,819 1,109,792 1,471,611
Depreciation
At 1 January 2023 36,700 238,279 274,979
Charge for the year 13,801 117,458 131,259
On disposals - (7,287) (7,287)
At 31 December 2023 50,501 348,450 398,951
Net book value
At 31 December 2023 311,318 761,342 1,072,660
At 31 December 2022 325,119 829,296 1,154,415
4 Investments
Other
investments
£
Cost
At 1 January 2023 10,492
At 31 December 2023 10,492
5 Debtors 2023 2022
£ £
Trade debtors 12,364 11,982
Other debtors 15,224 29,418
27,588 41,400
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 24,070 24,491
Obligations under finance lease and hire purchase contracts 41,357 50,498
Trade creditors 23,964 13,590
Taxation and social security costs 14,949 16,302
Other creditors 398,431 361,307
502,771 466,188
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 194,177 220,762
Obligations under finance lease and hire purchase contracts 85,462 94,281
Other creditors 199,618 224,088
479,257 539,131
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 252,340 293,971
Secured bank loans 193,151 208,596
Bank loans are secured by a fixed and floating charge over the assets of the company.
9 Capital contribution reserve 2023 2022
£ £
At 1 January 2023 581,703 578,156
Present value adjustment re Worcester Golf & Country Club Ltd loan - 3,547
At 31 December 2023 581,703 581,703
10 Other information
Boughton Park Limited is a private company limited by guarantee and incorporated in England. Its registered office is:
Worcester Golf & Country Club
Boughton Park
Bransford Road
Worcester
WR2 4EZ
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