Registered number
SC018111
Newbattle Golf Club Limited
Filleted Accounts
31 December 2023
Newbattle Golf Club Limited
Registered number: SC018111
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Land & Buildings 3 659,019 659,019
Tangible assets 4 316,360 323,562
975,379 982,581
Current assets
Stocks 7,178 6,930
Debtors 5 21,885 31,514
Cash at bank and in hand 106,310 42,617
135,373 81,061
Creditors: amounts falling due within one year 6 (257,603) (212,336)
Net current liabilities (122,230) (131,275)
Total assets less current liabilities 853,149 851,306
Creditors: amounts falling due after more than one year 7 (40,333) (55,939)
Provisions for liabilities - (45,329)
Net assets 812,816 750,038
Capital and reserves
Revaluation reserve 8 462,123 462,123
Profit and loss account 350,693 287,915
Members Funds 812,816 750,038
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Hamilton
Director
Approved by the board on 21 August 2024
Newbattle Golf Club Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Course construction 10 - 20 years
Fixtures and fittings 4 - 10 years
Equipment 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 17
3 Land & Buildings £
Cost
At 1 January 2023 659,019
At 31 December 2023 659,019
Amortisation
At 31 December 2023 -
Net book value
At 31 December 2023 659,019
At 31 December 2022 659,019
4 Tangible fixed assets
Land and buildings Course construction Fittings and Equipment Total
£ £ £ £
Cost
At 1 January 2023 528,704 174,466 348,270 1,051,440
Additions 15,400 - 20,288 35,688
At 31 December 2023 544,104 174,466 368,558 1,087,128
Depreciation
At 1 January 2023 340,686 118,229 268,963 727,878
Charge for the year 12,296 5,094 25,500 42,890
At 31 December 2023 352,982 123,323 294,463 770,768
Net book value
At 31 December 2023 191,122 51,143 74,095 316,360
At 31 December 2022 188,018 56,237 79,307 323,562
Course construction, Equipment and Fixtures and fittings are represented at cost. The Land and buildings is represented at valuation. The valuation of the course at 31 December 2022 is represented by:

The Land and buildings was revalued on an open market basis on 25 November 2013 by J & E Shepherd, Chartered Surveyors. The surplus on the valuation of £95,719 has been transferred to the revaluation reserve. The directors have assessed the value of the building and believe the valuation amount still reflects the market value. No depreciation has been charged on the revalued amount as the asset continues to be held at market value.

Included within net book value of £975,379 (2022: £982,581) is £128,547 (2022: £147,588) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £19,043 (2022: £19,043).
5 Debtors 2023 2022
£ £
Trade debtors - 424
Other debtors 21,885 31,090
21,885 31,514
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loan 10,000 10,000
Obligations under finance lease and hire purchase contracts 5,347 34,878
Trade creditors 34,794 47,229
Taxation and social security costs 105 6,366
Other creditors 207,357 113,863
257,603 212,336
Balances due on Hire Purchase contracts are secured on the assets to which they relate.
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loan 14,167 24,167
Obligations under finance lease and hire purchase contracts 26,166 31,341
Other creditors - 431
40,333 55,939
Balances due on Hire Purchase contracts are secured on the assets to which they relate.
8 Revaluation reserve 2023 2022
£ £
At 1 January 2023 462,123 462,123
At 31 December 2023 462,123 462,123
9 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 347,917 376,593
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