REGISTERED NUMBER: |
EASINGWOLD GOLF CLUB LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024 |
REGISTERED NUMBER: |
EASINGWOLD GOLF CLUB LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024 |
EASINGWOLD GOLF CLUB LIMITED (REGISTERED NUMBER: 14539541) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 8 |
EASINGWOLD GOLF CLUB LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Heritage House |
Murton Way |
Osbaldwick |
York |
North Yorkshire |
YO19 5UW |
EASINGWOLD GOLF CLUB LIMITED (REGISTERED NUMBER: 14539541) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
RESERVES |
Income and expenditure account |
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 surplus or deficit 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. |
EASINGWOLD GOLF CLUB LIMITED (REGISTERED NUMBER: 14539541) |
BALANCE SHEET - continued |
31 MARCH 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
EASINGWOLD GOLF CLUB LIMITED (REGISTERED NUMBER: 14539541) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Easingwold Golf Club Limited ("the club") is a private company, limited by guarantee, 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 cover the 8 month period from 1 August 2023 to 31 March 2024. The comparatives presented cover the 7 month period 1 January 2023 to 31 July 2023 and are not therefore entirely comparable. See note 4 for further details on the comparatives presented. The length of the accounting period was shortened to align the reporting date with the golf membership year. |
Merger Accounting |
In accordance with the merger accounting rules set out in FRS 102, the comparative amounts presented in the financial statements are those of the club in its previous legal form. Further details are given in Note 4. |
Going Concern |
The directors have considered the financial position and projections of the club and have a reasonable expectation that the club has adequate resources to continue for the foreseeable future. The club therefore continues to adopt the going concern basis in preparing the financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about Easingwold Golf Club Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
The club's income represents members subscriptions, temporary members fees and associated goods and services provided by the club during the year, excluding Value Added Tax. |
Subscriptions relating to future periods are deferred and held as a liability on the balance sheet at the year end. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
EASINGWOLD GOLF CLUB LIMITED (REGISTERED NUMBER: 14539541) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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. |
The club is a registered Community Amateur Sports Club (CASC) and as a CASC, the club would not usually be subject to UK Corporation Tax providing it meets certain criteria. |
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 period 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. |
Hire purchase and leasing commitments |
Tangible fixed assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors. |
Grants receivable |
Grants receivable are recognised in the income and expenditure account when the club is fully entitled to the grant. Where there are future performance related conditions attached to the grant, the grant is recognised in income only when these performance related conditions have been met. A grant with no future performance related conditions is recognised when the grant proceeds are received or receivable. Grants received before the revenue recognition criteria are satisfied are recognised as a liability. |
. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
EASINGWOLD GOLF CLUB LIMITED (REGISTERED NUMBER: 14539541) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 August 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 July 2023 |
Included in Course Equipment are assets held under finance leases. The net book value of these assets amounted to £14,204 (2023: £18,939). Deprecation charged on these assets amounted to £4,735 (2023: £4,143). |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 August 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 July 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
EASINGWOLD GOLF CLUB LIMITED (REGISTERED NUMBER: 14539541) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Finance leases (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Finance leases (see note 9) |
9. | LEASING AGREEMENTS |
Minimum lease payments under finance leases fall due as follows: |
Finance leases |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Expiring: |
Within one year | 45,000 | 45,000 |
Between one and five years | 75,000 | 115,000 |
115,000 | 160,000 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Finance leases | 10,902 | 17,048 |
EASINGWOLD GOLF CLUB LIMITED (REGISTERED NUMBER: 14539541) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024 |
11. | RELATED PARTY DISCLOSURES |
Easingwold Golf Centre Ltd is a 100% subsidiary of Easingwold Golf Club Limited. |
During the year, Easingwold Golf Centre Ltd paid £7,000 (2022: £12,000) to Easingwold Golf Club for rent. At the year end the balance owed to Easingwold Golf Club Limited from Easingwold Golf Centre Ltd was £54,632 (2022: Easingwold Golf Club owed Easingwold Golf Centre Ltd £923). |