REGISTERED NUMBER: |
MOOR HALL GOLF CLUB LIMITED |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
MOOR HALL GOLF CLUB LIMITED |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
MOOR HALL GOLF CLUB LIMITED (REGISTERED NUMBER: 00263620) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MOOR HALL GOLF CLUB LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
(Statutory auditor) |
1 Trinity Place |
Midland Drive |
Sutton Coldfield |
West Midlands |
B72 1TX |
BANKERS: |
9 Birmingham Road |
Sutton Coldfield |
B72 1QA |
MOOR HALL GOLF CLUB LIMITED (REGISTERED NUMBER: 00263620) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
RESERVES |
Retained earnings |
MEMBERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
MOOR HALL GOLF CLUB LIMITED (REGISTERED NUMBER: 00263620) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Moor Hall Golf Club Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The financial statements are rounded to the nearest £1. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis, are presented in sterling which is the functional currency of the company and are rounded to the nearest £. |
Management have determined that there are no material uncertainties in relation to going concern by considering future cash flows, liquidity and borrowing facilities. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
The company's turnover represents the value, exceeding value added tax, of subscriptions, entrance fees, bar sales, green fees and other sundry receipts receivable in respect of the year during the year. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Land and buildings amounting to £188,010 has been held at it's 1978 cost and has not been depreciated. |
Expenditure on any major course re-development is to be depreciated over 20 years on a straight line basis. |
Expenditure on any clubhouse refurbishment will not be capitalised as this is considered to be substantially of a refurbishment nature. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The company is formed to promote the common interests of its members and derives its funds from annual subscriptions and charges paid by its members. Consequently, for taxation purposes, it is a non-trading concern and thus outside the scope of taxation provision on its operating surplus or deficit. However the company is liable to corporation tax on any investment income received. No provision is required for deferred taxation. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
MOOR HALL GOLF CLUB LIMITED (REGISTERED NUMBER: 00263620) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Finance leases (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Finance leases (see note 8) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | 14,463 | 38,550 |
MOOR HALL GOLF CLUB LIMITED (REGISTERED NUMBER: 00263620) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Finance leases |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Finance leases | 37,777 | 46,800 |
Lloyds Bank plc. have a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery. |
The finance lease is secured on the related assets. |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | PENSION COMMITMENTS |
The pension cost charge represents contributions payable by the company regarding the pension amounting to £14,444 (2023 - £12,233). Contributions totalling £5,095 (2023 - £2,506) were payable to the fund at the balance sheet date. |
12. | CAPITAL COMMITMENTS |
2024 | 2023 |
£ | £ |
Contracted but not provided for in the |
financial statements |
13. | RELATED PARTY DISCLOSURES |
During the year the directors received a total of £8,019 (2023 - £6,649) to cover expenditure incurred in performance of their duties. At the balance sheet £nil was due to the directors (2023 - £nil). |
MOOR HALL GOLF CLUB LIMITED (REGISTERED NUMBER: 00263620) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
14. | LIMITED BY GUARANTEE |
Each member of the company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member. |
15. | CONTINGENT ASSETS AND LIABILITIES |
The maintenance of Moor Hall Drive is the responsibility of the company, however the company has entered into an agreement with Moor Hall Hotel Limited and with the residents of Moor Hall Drive whereby they and the company will contribute monies into a fund each year and that fund will meet the costs of any drive maintenance. |
At 31st March 2024 the fund stood at £191,823 (2023 - £211,842). Neither the fund movements or balance sheet have been included in the financial statements, although the company's annual contribution is included. Funds can only be withdrawn on the agreement of all parties to the arrangement. |