Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false332023-01-01non-profit making members' golf club29truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09900482 2023-01-01 2023-12-31 09900482 2022-01-01 2022-12-31 09900482 2023-12-31 09900482 2022-12-31 09900482 c:Director7 2023-01-01 2023-12-31 09900482 d:Buildings 2023-01-01 2023-12-31 09900482 d:Buildings 2023-12-31 09900482 d:Buildings 2022-12-31 09900482 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09900482 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 09900482 d:Buildings d:LongLeaseholdAssets 2023-12-31 09900482 d:Buildings d:LongLeaseholdAssets 2022-12-31 09900482 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 09900482 d:PlantMachinery 2023-01-01 2023-12-31 09900482 d:PlantMachinery 2023-12-31 09900482 d:PlantMachinery 2022-12-31 09900482 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09900482 d:FurnitureFittings 2023-01-01 2023-12-31 09900482 d:FurnitureFittings 2023-12-31 09900482 d:FurnitureFittings 2022-12-31 09900482 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09900482 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 09900482 d:OtherPropertyPlantEquipment 2023-12-31 09900482 d:OtherPropertyPlantEquipment 2022-12-31 09900482 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09900482 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09900482 d:CurrentFinancialInstruments 2023-12-31 09900482 d:CurrentFinancialInstruments 2022-12-31 09900482 d:Non-currentFinancialInstruments 2023-12-31 09900482 d:Non-currentFinancialInstruments 2022-12-31 09900482 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09900482 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09900482 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09900482 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09900482 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 09900482 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 09900482 d:RetainedEarningsAccumulatedLosses 2023-12-31 09900482 d:RetainedEarningsAccumulatedLosses 2022-12-31 09900482 c:FRS102 2023-01-01 2023-12-31 09900482 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09900482 c:FullAccounts 2023-01-01 2023-12-31 09900482 c:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 09900482 2 2023-01-01 2023-12-31 09900482 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 09900482










SHERINGHAM GOLF CLUB LIMITED
(A Company Limited by Guarantee)








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SHERINGHAM GOLF CLUB LIMITED
 
(A Company Limited by Guarantee)
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SHERINGHAM GOLF CLUB LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sheringham Golf Club Limited for the year ended 31 December 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Sheringham Golf Club Limited, as a body, in accordance with the terms of our engagement letter dated 10 May 2021Our work has been undertaken solely to prepare for your approval the financial statements of Sheringham Golf Club Limited and state those matters that we have agreed to state to the Board of Directors of Sheringham Golf Club Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sheringham Golf Club Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Sheringham Golf Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sheringham Golf Club Limited. You consider that Sheringham Golf Club Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Sheringham Golf Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
16 July 2024
Page 1

 
SHERINGHAM GOLF CLUB LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 09900482

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,437,634
964,757

  
1,437,634
964,757

Current assets
  

Stocks
  
16,598
12,550

Debtors: amounts falling due within one year
 5 
96,605
70,088

Cash at bank and in hand
 6 
282,863
580,105

  
396,066
662,743

Creditors: amounts falling due within one year
 7 
(364,054)
(317,425)

Net current assets
  
 
 
32,012
 
 
345,318

Total assets less current liabilities
  
1,469,646
1,310,075

Creditors: amounts falling due after more than one year
  
(307,400)
-

  

Net assets
  
1,162,246
1,310,075


Capital and reserves
  

Profit and loss account
  
1,162,246
1,310,075

  
1,162,246
1,310,075

Page 2

 
SHERINGHAM GOLF CLUB LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 09900482
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 by: 




Jonathan Woolston
Director

Date: 16 July 2024

The notes on pages 4 to 9 form part of these financial statements.
Page 3

 
SHERINGHAM GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Company is a private company limited by guarantee. It is both incorporated and domiciled in England and Wales. The address of the registered office is Sweetbriar Lane, Sheringham, Norfolk, NR26 8HG.
The Company's principal activities continued to be that of a non-profit making members' golf club. Its principal place of business is as the registered office.
The presentation currency is £ sterling.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
SHERINGHAM GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Interest income

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

 
2.4

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.

 
2.5

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.

 
2.6

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:

Freehold land
-
not depreciated
Freehold buildings
-
50 years straight line
Long-term leasehold property
-
over the lease term (99 years)
Plant and machinery
-
6 years straight line
Fixtures and fittings
-
6 years straight line
Course improvements
-
6 years straight line

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 5

 
SHERINGHAM GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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.
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.

 
2.8

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.

 
2.9

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.

 
2.10

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.


 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 29 (2022 - 33).

Page 6

 


 
SHERINGHAM GOLF CLUB LIMITED

(A Company Limited by Guarantee)


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


4.


Tangible fixed assets






Freehold property
Long-term leasehold property
Plant and machinery
Fixtures and fittings
Course improvements
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2023
832,240
25,607
565,916
437,187
269,496
2,130,446


Additions
-
-
151,895
40,065
427,788
619,748



At 31 December 2023

832,240
25,607
717,811
477,252
697,284
2,750,194



Depreciation


At 1 January 2023
230,931
8,296
352,169
389,778
184,515
1,165,689


Charge for the year on owned assets
8,322
259
84,224
25,713
28,353
146,871



At 31 December 2023

239,253
8,555
436,393
415,491
212,868
1,312,560



Net book value



At 31 December 2023
592,987
17,052
281,418
61,761
484,416
1,437,634



At 31 December 2022
601,309
17,311
213,747
47,409
84,981
964,757


Page 7

 
SHERINGHAM GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
18,738
3,911

Other debtors
11,513
-

Prepayments and accrued income
66,354
66,177

96,605
70,088



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
282,863
580,105

282,863
580,105



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
47,375
45,954

Other taxation and social security
16,283
19,191

Other creditors
36,891
34,123

Accruals and deferred income
263,505
218,157

364,054
317,425



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
307,400
-

307,400
-


Page 8

 
SHERINGHAM GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£



Amounts falling due 2-5 years

Other loans
307,400
-


307,400
-




10.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.


11.


Related party transactions

In recognition of his role as Captain, Steve Fulford, a Director, received an honorarium of £1,538 during the year and subscription fees to the value of £1,025 were waived.
Loans totalling £66,250 were received from directors towards the irrigation project. These loans are for a term of 5 years. Interest is paid on these loan amounts. Interest is calculated as a proportion of annual subscription fees, with annual subscription being paid in full for a £25,000 loan.

 
Page 9