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Registration number: 01223219

Petersfield Golf Club Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Petersfield Golf Club Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 9

 

Petersfield Golf Club Ltd

Company Information

Directors

Mr R D Venn

Mr R M Perry

Mr S Baigent

Mrs D M F Brooks

Mr R G Couzens

Company secretary

Miss K A Laud

Registered office

Tankerdale Lane
Liss
GU33 7QY

Accountants

Andrew Jenvey, AIMS Accountants for Business
The Incuhive Space
Hursley Park Road
Hursley
Winchester
SO21 2JN

 

Petersfield Golf Club Ltd

Directors' Report for the Year Ended 31 January 2024

The directors present their report and the financial statements for the year ended 31 January 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr R D Venn

Mr R M Perry

Mr S Baigent

Mrs D M F Brooks

Mr R G Couzens

Principal activity

The principal activity of the company is that of holding the land of a golf club.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 6 March 2024 and signed on its behalf by:
 

.........................................
Mr R D Venn
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Petersfield Golf Club Ltd
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Petersfield Golf Club Ltd for the year ended 31 January 2024 as set out on pages 4 to 9 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Petersfield Golf Club Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Petersfield Golf Club Ltd and state those matters that we have agreed to state to the Board of Directors of Petersfield Golf Club Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Petersfield Golf Club Ltd and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Petersfield Golf Club Ltd. 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 accounts.

......................................

Andrew Jenvey, AIMS Accountants for Business
The Incuhive Space
Hursley Park Road
Hursley
Winchester
SO21 2JN

6 March 2024

 

Petersfield Golf Club Ltd

(Registration number: 01223219)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

648,597

650,395

Current assets

 

Debtors

5

676,000

641,000

Cash at bank and in hand

 

14,563

1,060

 

690,563

642,060

Creditors: Amounts falling due within one year

6

(25,354)

(20,250)

Net current assets

 

665,209

621,810

Total assets less current liabilities

 

1,313,806

1,272,205

Creditors: Amounts falling due after more than one year

6

(1,216,705)

(1,149,355)

Net assets

 

97,101

122,850

Capital and reserves

 

Called up share capital

7

252

252

Retained earnings

96,849

122,598

Shareholders' funds

 

97,101

122,850

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 March 2024 and signed on its behalf by:
 

 

Petersfield Golf Club Ltd

(Registration number: 01223219)
Balance Sheet as at 31 January 2024

.........................................
Mr R D Venn
Director

 

Petersfield Golf Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Tankerdale Lane
Liss
GU33 7QY

These financial statements were authorised for issue by the Board on 6 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Petersfield Golf Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

Not depreciated

Buildings

30 to 100 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Petersfield Golf Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 February 2023

674,377

674,377

At 31 January 2024

674,377

674,377

Depreciation

At 1 February 2023

23,982

23,982

Charge for the year

1,798

1,798

At 31 January 2024

25,780

25,780

Carrying amount

At 31 January 2024

648,597

648,597

At 31 January 2023

650,395

650,395

Included within the net book value of land and buildings above is £648,597 (2023 - £650,395) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Other debtors

676,000

641,000

 

676,000

641,000

 

Petersfield Golf Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

87

Accruals and deferred income

25,349

20,163

Other creditors

5

-

25,354

20,250

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

788,019

757,652

Other non-current financial liabilities

 

428,686

391,703

 

1,216,705

1,149,355

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

252

252

252

252

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

112,019

116,652

Other borrowings

676,000

641,000

788,019

757,652