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REGISTERED NUMBER: 05125840 (England and Wales)















Financial Statements for the Year Ended 31 July 2023

for

Chesterton Valley Golf Club Limited

Chesterton Valley Golf Club Limited (Registered number: 05125840)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chesterton Valley Golf Club Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: M L Davis
M C Davis





SECRETARY: M L Davis





REGISTERED OFFICE: Burnhill Green Road
Chesterton
Shropshire
WV15 5NX





REGISTERED NUMBER: 05125840 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Chesterton Valley Golf Club Limited (Registered number: 05125840)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 39,667 67,667
Tangible assets 5 287,326 308,513
326,993 376,180

CURRENT ASSETS
Debtors 6 8,271 9,461
Cash at bank 43,166 22,888
51,437 32,349
CREDITORS
Amounts falling due within one year 7 188,976 176,418
NET CURRENT LIABILITIES (137,539 ) (144,069 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

189,454

232,111

CREDITORS
Amounts falling due after more than one
year

8

(26,721

)

(38,177

)

PROVISIONS FOR LIABILITIES (31,671 ) (31,378 )
NET ASSETS 131,062 162,556

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 130,962 162,456
SHAREHOLDERS' FUNDS 131,062 162,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 profit or loss 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.

Chesterton Valley Golf Club Limited (Registered number: 05125840)

Balance Sheet - continued
31 July 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:





M L Davis - Director


Chesterton Valley Golf Club Limited (Registered number: 05125840)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Chesterton Valley Golf Club Limited is a private company, limited by shares , 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
The turnover shown in the profit and loss account is the amount receivable for the provision of goods and services falling within the Company's activities, net of Value Added Tax, rebates and trade discounts.

Turnover from the provision of goods and services is recognised in the accounting period in which the Company obtains the right to consideration in exchange for its performance and when the amounts to be recognised are fixed or determinable and collectability is reasonably assured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, or, if held under a finance lease, over the lease term, whichever is shorter.
Plant & machinery - 15% reducing balance
Fixtures & fittings - 15% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Chesterton Valley Golf Club Limited (Registered number: 05125840)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 560,000
AMORTISATION
At 1 August 2022 492,333
Charge for year 28,000
At 31 July 2023 520,333
NET BOOK VALUE
At 31 July 2023 39,667
At 31 July 2022 67,667

Chesterton Valley Golf Club Limited (Registered number: 05125840)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
Property machinery fittings Totals
£    £    £    £   
COST
At 1 August 2022 136,459 495,496 38,747 670,702
Additions - 5,950 1,544 7,494
Disposals - (18,000 ) - (18,000 )
At 31 July 2023 136,459 483,446 40,291 660,196
DEPRECIATION
At 1 August 2022 - 336,772 25,417 362,189
Charge for year - 23,513 2,156 25,669
Eliminated on disposal - (14,988 ) - (14,988 )
At 31 July 2023 - 345,297 27,573 372,870
NET BOOK VALUE
At 31 July 2023 136,459 138,149 12,718 287,326
At 31 July 2022 136,459 158,724 13,330 308,513

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 8,970 17,640 26,610
DEPRECIATION
At 1 August 2022 6,379 6,720 13,099
Charge for year 331 1,568 1,899
At 31 July 2023 6,710 8,288 14,998
NET BOOK VALUE
At 31 July 2023 2,260 9,352 11,612
At 31 July 2022 2,591 10,920 13,511

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,271 9,461

Chesterton Valley Golf Club Limited (Registered number: 05125840)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,847 9,604
Hire purchase contracts 1,580 2,674
Trade creditors 49,571 47,805
Taxation and social security 19,028 18,485
Other creditors 108,950 97,850
188,976 176,418

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 26,721 36,567
Hire purchase contracts - 1,610
26,721 38,177

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 36,568 46,171
Hire purchase contracts 1,580 4,284
38,148 50,455

Hire purchase liability is secured against the assets to which it relates.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100