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REGISTERED NUMBER: 00141008 (England and Wales)










Cirencester Golf Club Limited

Financial Statements

for the Year Ended 31st December 2023






Cirencester Golf Club Limited (Registered number: 00141008)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Cirencester Golf Club Limited (Registered number: 00141008)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,533,664 1,226,271

CURRENT ASSETS
Stocks 67,218 55,678
Debtors 5 23,088 15,945
Cash at bank 388,853 703,329
479,159 774,952
CREDITORS
Amounts falling due within one year 6 342,505 413,112
NET CURRENT ASSETS 136,654 361,840
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,670,318

1,588,111

CREDITORS
Amounts falling due after more than one
year

7

544,816

528,942
NET ASSETS 1,125,502 1,059,169

CAPITAL AND RESERVES
Called up share capital 2,500 2,500
Retained earnings 1,123,002 1,056,669
SHAREHOLDERS' FUNDS 1,125,502 1,059,169

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

Cirencester Golf Club Limited (Registered number: 00141008)

Balance Sheet - continued
31st December 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 26th June 2024 and were signed on its behalf by:




I R Perry - Director



M R Woodhead - Director


Cirencester Golf Club Limited (Registered number: 00141008)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Cirencester Golf Club Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00141008

Registered office: Cheltenham Road
Bagendon
Cirencester
Gloucestershire
GL7 7BH

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.

Turnover
Turnover represents the amounts received for Club membership and for the use of the amenities of the Club and is stated net of Value Added Tax.

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 the shorter.
Freehold property - 4% on cost and 2% on cost
Plant and machinery - 10% on cost and 25% reducing balance
Fixtures and fittings - 25% on reducing balance

No depreciation is provided on the £285,879 cost of land included in Land, Buildings and Improvements, nor is it provided on the cost of developing three new holes and the practice green amounting to £161,215 as it is the Company's policy to maintain these in their original condition.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Cirencester Golf Club Limited (Registered number: 00141008)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Tangible fixed assets used by the Company, which have been funded through hire purchase contracts or finance leases, are capitalised in the balance sheet and the resulting hire purchase and lease obligations are included in creditors. Rentals payable under operating leases are charged to the profit and loss account as incurred.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 24 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1st January 2023 1,135,905 848,076 317,815 2,301,796
Additions 48,950 331,996 25,938 406,884
Disposals - (91,731 ) - (91,731 )
At 31st December 2023 1,184,855 1,088,341 343,753 2,616,949
DEPRECIATION
At 1st January 2023 218,001 595,840 261,684 1,075,525
Charge for year 15,807 63,893 18,404 98,104
Eliminated on disposal - (90,344 ) - (90,344 )
At 31st December 2023 233,808 569,389 280,088 1,083,285
NET BOOK VALUE
At 31st December 2023 951,047 518,952 63,665 1,533,664
At 31st December 2022 917,904 252,236 56,131 1,226,271

Cirencester Golf Club Limited (Registered number: 00141008)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st January 2023 158,163
Additions 80,506
At 31st December 2023 238,669
DEPRECIATION
At 1st January 2023 99,308
Charge for year 41,220
At 31st December 2023 140,528
NET BOOK VALUE
At 31st December 2023 98,141
At 31st December 2022 58,855

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 23,088 15,945

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 17,551 17,033
Hire purchase contracts 28,491 24,576
Trade creditors 41,813 130,854
Taxation and social security 14,246 7,287
Other creditors 240,404 233,362
342,505 413,112

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 458,906 475,859
Hire purchase contracts 85,910 53,083
544,816 528,942

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 379,147 400,405

Cirencester Golf Club Limited (Registered number: 00141008)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 476,457 492,892