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REGISTERED NUMBER: 04594350 (England and Wales)















THE CHASE GOLF CLUB LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






THE CHASE GOLF CLUB LIMITED (REGISTERED NUMBER: 04594350)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE CHASE GOLF CLUB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs L A Simmons
Mrs H R Simmons
Miss R Simmons
Mr C S Simmons





REGISTERED OFFICE: Pottal Pool Road
Penkridge
Staffordshire
ST19 5RN





REGISTERED NUMBER: 04594350 (England and Wales)

THE CHASE GOLF CLUB LIMITED (REGISTERED NUMBER: 04594350)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,802,199 2,768,207

CURRENT ASSETS
Stocks 134,065 118,902
Debtors 5 41,668 44,120
Cash at bank and in hand 734,591 860,309
910,324 1,023,331
CREDITORS
Amounts falling due within one year 6 (859,121 ) (942,759 )
NET CURRENT ASSETS 51,203 80,572
TOTAL ASSETS LESS CURRENT LIABILITIES 2,853,402 2,848,779

CREDITORS
Amounts falling due after more than one
year

7

(21,960

)

(32,161

)
NET ASSETS 2,831,442 2,816,618

CAPITAL AND RESERVES
Called up share capital 8 2,000,001 2,000,001
Retained earnings 831,441 816,617
SHAREHOLDERS' FUNDS 2,831,442 2,816,618

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

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

THE CHASE GOLF CLUB LIMITED (REGISTERED NUMBER: 04594350)

BALANCE SHEET - continued
31 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 13 August 2024 and were signed on its behalf by:





Mrs L A Simmons - Director


THE CHASE GOLF CLUB LIMITED (REGISTERED NUMBER: 04594350)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

The Chase 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. 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of golf equipment and spa products is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from golf club membership fees, spa, restaurant and hotel services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the date the service is provided. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

THE CHASE GOLF CLUB LIMITED (REGISTERED NUMBER: 04594350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

Leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Government grants
Government Grants in respect of Covid-19 received as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs are recognised as income in the period in which the grant becomes receivable using the accruals model

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 80 (2022 - 84 ) .

THE CHASE GOLF CLUB LIMITED (REGISTERED NUMBER: 04594350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 3,626,850 1,207,120 4,833,970
Additions 61,559 81,239 142,798
At 31 December 2023 3,688,409 1,288,359 4,976,768
DEPRECIATION
At 1 January 2023 996,768 1,068,995 2,065,763
Charge for year 54,090 54,716 108,806
At 31 December 2023 1,050,858 1,123,711 2,174,569
NET BOOK VALUE
At 31 December 2023 2,637,551 164,648 2,802,199
At 31 December 2022 2,630,082 138,125 2,768,207

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,451 11,164
Prepayments and accrued income 35,217 32,956
41,668 44,120

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,540 10,289
Trade creditors 73,507 69,593
Social security and other taxes 18,605 10,095
Pension 5,286 5,101
Net wages - 44
VAT 64,885 82,378
Vouchers and deposits 134,477 226,815
Directors' current accounts 115,090 141,140
Accruals and deferred income 37,225 36,349
Deferred golf subscriptions 239,747 221,509
Deferred health club subscriptions 159,759 139,446
859,121 942,759

THE CHASE GOLF CLUB LIMITED (REGISTERED NUMBER: 04594350)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,807 10,549
Bank loans - 2-5 years 11,153 21,612
21,960 32,161

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
2,000,000 Preference £1 2,000,000 2,000,000

9. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £4,368 (2022 - £8,112).