Company registration number 00170424 (England and Wales)
DISLEY GOLF CLUB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
DISLEY GOLF CLUB LIMITED
COMPANY INFORMATION
Directors
Robin Smith
John Mott
Steven Blades
David Codd
Steve Misell
(Appointed 24 February 2023)
Simon Howarth
(Appointed 24 February 2023)
Company number
00170424
Registered office
Stanley Hall Lane
Disley
Stockport
Cheshire
SK12 2JX
Accountants
Chadwicks
Chartered Accountants
Capital House
272 Manchester Road
Droylsden
Manchester
M43 6PW
DISLEY GOLF CLUB LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
DISLEY GOLF CLUB LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
646,329
590,826
Investments
4
1
646,330
590,826
Current assets
Stocks
7,100
9,041
Debtors
5
3,877
7,201
Cash at bank and in hand
15,472
61,438
26,449
77,680
Creditors: amounts falling due within one year
6
(226,121)
(205,400)
Net current liabilities
(199,672)
(127,720)
Total assets less current liabilities
446,658
463,106
Creditors: amounts falling due after more than one year
7
(42,155)
(30,102)
Net assets
404,503
433,004
Capital and reserves
Called up share capital
8
4,480
4,480
Revaluation reserve
9
215,687
215,687
Profit and loss reserves
184,336
212,837
Total equity
404,503
433,004
DISLEY GOLF CLUB LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 December 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.
The financial statements were approved by the board of directors and authorised for issue on 26 March 2024 and are signed on its behalf by:
Robin Smith
Director
Company Registration No. 00170424
DISLEY GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Disley Golf Club Limited is a private company limited by shares incorporated in England and Wales. The registered office is Stanley Hall Lane, Disley, Stockport, Cheshire, SK12 2JX.
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 £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
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.
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:
Freehold land and buildings
2% straight line / reducing balance
Plant and equipment
10% / 20% reducing balance
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 profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
DISLEY GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.5
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.
1.6
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
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.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
9
7
DISLEY GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
490,779
600,239
1,091,018
Additions
1,442
116,991
118,433
Disposals
(100,217)
(100,217)
At 31 December 2023
492,221
617,013
1,109,234
Depreciation and impairment
At 1 January 2023
45,090
455,102
500,192
Depreciation charged in the year
4,402
29,425
33,827
Eliminated in respect of disposals
(71,114)
(71,114)
At 31 December 2023
49,492
413,413
462,905
Carrying amount
At 31 December 2023
442,729
203,600
646,329
At 31 December 2022
445,689
145,137
590,826
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2023
-
Additions
1
At 31 December 2023
1
Carrying amount
At 31 December 2023
1
At 31 December 2022
-
DISLEY GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Prepayments and accrued income
3,877
7,201
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,140
9,890
Obligations under finance leases
11,970
14,459
Other borrowings
30,000
Trade creditors
8,040
14,535
Taxation and social security
10,079
11,327
Other creditors
22,794
22,046
Accruals and deferred income
133,098
133,143
226,121
205,400
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
14,770
24,947
Obligations under finance leases
27,385
5,155
42,155
30,102
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
4,480
4,480
4,480
4,480
9
Revaluation reserve
2023
2022
£
£
At the beginning and end of the year
215,687
215,687