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REGISTERED NUMBER: 00170373 (England and Wales)















Hesketh Golf Club Limited

Financial Statements for the Year Ended 31 December 2023






Hesketh Golf Club Limited (Registered number: 00170373)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hesketh Golf Club Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Ms J Scott
Mrs M M Switzer
Mr J C Cummins
Mr M B Kamel
Mr D Harrison
Mr I M J Clark
Mr R A Sinclair





SECRETARY: Mr M L Edge





REGISTERED OFFICE: Cockle Dicks Lane
Off Cambridge Road
Southport
Merseyside
PR9 9QQ





REGISTERED NUMBER: 00170373 (England and Wales)





AUDITORS: Advance Audit Limited
Statutory Auditor
71/73 Hoghton Street
Southport
Merseyside
PR9 0PR

Hesketh Golf Club Limited (Registered number: 00170373)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,127,158 1,052,287

CURRENT ASSETS
Stocks 6 11,143 10,494
Debtors 7 41,349 48,299
Cash at bank 233,144 299,713
285,636 358,506
CREDITORS
Amounts falling due within one year 8 421,621 375,443
NET CURRENT LIABILITIES (135,985 ) (16,937 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

991,173

1,035,350

CREDITORS
Amounts falling due after more than one
year

9

158,017

144,666
NET ASSETS 833,156 890,684

CAPITAL AND RESERVES
Called up share capital 12 2,935 2,865
Capital redemption reserve 13 285 355
Dilapidation reserve 13 - 40,000
Retained earnings 13 829,936 847,464
SHAREHOLDERS' FUNDS 833,156 890,684

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2024 and were signed on its behalf by:





Mr R A Sinclair - Director


Hesketh Golf Club Limited (Registered number: 00170373)

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

1. STATUTORY INFORMATION

Hesketh Golf Club Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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 £.

The principal accounting policies adopted are set out below.

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. Revenue is recongised in line with the timing of service delivery.

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:


Long leasehold5% on reducing balance and at variable rates on reducing balance

Plant and machinery
33% on reducing balance, 25% on reducing balance, 20% on costs,
10% on reducing balance and 5% on reducing balance


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.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Hesketh Golf Club Limited (Registered number: 00170373)

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

3. ACCOUNTING POLICIES - continued

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

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash at bank and in hand
Cash at bank and in hand 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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Taxation
Taxation for the year 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 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.

Hesketh Golf Club Limited (Registered number: 00170373)

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

3. ACCOUNTING POLICIES - continued

Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Irrecoverable vat
All VAT which can not be recovered because of partial exemption regulations is shown separately in the Profit and Loss account.

Course improvements
The costs of significant course improvements are written off against profits in the year in which they are incurred.

Going concern
The Directors are confident of the continued support of the members, on which they remain dependent. The club continues to receive applications from prospective new members enabling vacancies, when they arise, to be filled. The club continues to maintain modest cash reserves and the directors are confident that the Company has adequate resources to continue its operations for the foreseeable future.

For these reasons, they continue to adopt the going concern basis in preparing the financial statements. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2022 - 34 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 1,164,718 1,455,194 2,619,912
Additions 58,586 103,050 161,636
At 31 December 2023 1,223,304 1,558,244 2,781,548
DEPRECIATION
At 1 January 2023 430,133 1,137,492 1,567,625
Charge for year 28,973 57,792 86,765
At 31 December 2023 459,106 1,195,284 1,654,390
NET BOOK VALUE
At 31 December 2023 764,198 362,960 1,127,158
At 31 December 2022 734,585 317,702 1,052,287

6. STOCKS
2023 2022
£    £   
Stocks 11,143 10,494

Hesketh Golf Club Limited (Registered number: 00170373)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 30,062 37,624
Prepayments and accrued income 11,287 10,675
41,349 48,299

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 21,728 22,248
Finance leases (see note 10) 55,675 35,803
Trade creditors 100,288 89,792
Social security and other taxes 9,416 8,146
VAT 4,563 5,575
Other creditors 1,453 3,518
Income in advance 228,498 210,361
421,621 375,443

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - more than 1 yr 52,172 73,501
Income in advance 5,542 11,323
Finance leases (see note 10) 100,303 59,842
158,017 144,666

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2023 2022
£    £   
Net obligations repayable:
Within one year 55,675 35,803
Between one and five years 100,303 59,842
155,978 95,645

Non-cancellable operating leases
2023 2022
£    £   
Within one year 12,345 6,061
Between one and five years 2,916 4,082
15,261 10,143

Hesketh Golf Club Limited (Registered number: 00170373)

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

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 73,900 95,749

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
587 Ordinary 5 2,935 2,865

13. RESERVES

A dilapidation reserve was established during the year ended 31 December 2020. This reserve comprises funds set aside for future dilapidation costs in relation to the clubhouse and course.

14. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jennifer Tobin FCCA (Senior Statutory Auditor)
for and on behalf of Advance Audit Limited

15. RELATED PARTY DISCLOSURES

No transactions with related parties were undertaken such as are required to be disclosed in the financial statements.