IRIS Accounts Production v24.1.9.2 12197503 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh121975032022-12-31121975032023-12-31121975032023-01-012023-12-31121975032021-12-31121975032022-01-012022-12-31121975032022-12-3112197503ns15:EnglandWales2023-01-012023-12-3112197503ns14:PoundSterling2023-01-012023-12-3112197503ns10:Director12023-01-012023-12-3112197503ns10:CompanyLimitedByGuarantee2023-01-012023-12-3112197503ns10:SmallEntities2023-01-012023-12-3112197503ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3112197503ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3112197503ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3112197503ns10:FullAccounts2023-01-012023-12-3112197503ns10:Director32023-01-012023-12-3112197503ns10:Director42023-01-012023-12-3112197503ns10:Director52023-01-012023-12-3112197503ns10:RegisteredOffice2023-01-012023-12-3112197503ns5:CurrentFinancialInstruments2023-12-3112197503ns5:CurrentFinancialInstruments2022-12-3112197503ns5:Non-currentFinancialInstruments2023-12-3112197503ns5:Non-currentFinancialInstruments2022-12-3112197503ns5:RetainedEarningsAccumulatedLosses2023-12-3112197503ns5:RetainedEarningsAccumulatedLosses2022-12-3112197503ns5:LeaseholdImprovements2023-01-012023-12-3112197503ns5:PlantMachinery2023-01-012023-12-3112197503ns5:FurnitureFittings2023-01-012023-12-3112197503ns5:LeaseholdImprovements2022-12-3112197503ns5:PlantMachinery2022-12-3112197503ns5:FurnitureFittings2022-12-3112197503ns5:LeaseholdImprovements2023-12-3112197503ns5:PlantMachinery2023-12-3112197503ns5:FurnitureFittings2023-12-3112197503ns5:LeaseholdImprovements2022-12-3112197503ns5:PlantMachinery2022-12-3112197503ns5:FurnitureFittings2022-12-3112197503ns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3112197503ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3112197503ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3112197503ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-12-3112197503ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-12-3112197503ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3112197503ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-3112197503ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3112197503ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3112197503ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3112197503ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2022-12-3112197503ns5:HirePurchaseContracts2023-12-3112197503ns5:HirePurchaseContracts2022-12-3112197503ns5:WithinOneYear2023-12-3112197503ns5:WithinOneYear2022-12-3112197503ns5:BetweenOneFiveYears2023-12-3112197503ns5:BetweenOneFiveYears2022-12-3112197503ns5:AllPeriods2023-12-3112197503ns5:AllPeriods2022-12-31
REGISTERED NUMBER: 12197503 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 December 2023

for

Ross On Wye Golf Club Limited

Ross On Wye Golf Club Limited (Registered number: 12197503)






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


Ross On Wye Golf Club Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: A Graham
N A Stirling
P Taylor
W T J Digings





REGISTERED OFFICE: Ross On Wye Golf Club
Gorsley
Ross On Wye
Herefordshire
HR9 7UT





REGISTERED NUMBER: 12197503 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Ross On Wye Golf Club Limited (Registered number: 12197503)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 403,842 351,962

CURRENT ASSETS
Stocks 24,900 19,405
Debtors 5 123,357 51,542
Cash at bank and in hand 128,813 295,879
277,070 366,826
CREDITORS
Amounts falling due within one year 6 261,022 244,796
NET CURRENT ASSETS 16,048 122,030
TOTAL ASSETS LESS CURRENT
LIABILITIES

419,890

473,992

CREDITORS
Amounts falling due after more than one
year

7

22,804

42,440
NET ASSETS 397,086 431,552

RESERVES
Retained Earnings 397,086 431,552
397,086 431,552

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 surplus or deficit 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.

Ross On Wye Golf Club Limited (Registered number: 12197503)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 March 2024 and were signed on its behalf by:





W T J Digings - Director


Ross On Wye Golf Club Limited (Registered number: 12197503)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Ross On Wye Golf Club Limited is a private company, limited by guarantee , 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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for member's subscriptions, green fees and other golf course related income in the normal course of business.

Turnover from sale of goods is recognised at the point of sale when the significant risks and rewards of ownership of the goods have passed to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to course and property - at varying rates on cost
Course equipment - 33% on cost, 20% on cost and 15% on cost
Clubhouse fixtures & fittings - 20% on cost and 15% on cost

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

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 trade and other 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.

Ross On Wye Golf Club Limited (Registered number: 12197503)

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

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents 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.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and balancing owing to related companies, 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.

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
Rentals paid under operating leases are charged to surplus or deficit 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.

Ross On Wye Golf Club Limited (Registered number: 12197503)

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

2. ACCOUNTING POLICIES - continued

Other income
Other income includes rental income from the bungalows. The company recognises such revenue on a straight line accruals basis.

Revenue is also generated from the solar panels and recognised on an accruals basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to course Clubhouse
and Course fixtures
property equipment & fittings Totals
£    £    £    £   
COST
At 1 January 2023 236,717 205,888 49,295 491,900
Additions 87,396 15,244 16,255 118,895
At 31 December 2023 324,113 221,132 65,550 610,795
DEPRECIATION
At 1 January 2023 33,932 86,987 19,019 139,938
Charge for year 22,274 33,137 11,604 67,015
At 31 December 2023 56,206 120,124 30,623 206,953
NET BOOK VALUE
At 31 December 2023 267,907 101,008 34,927 403,842
At 31 December 2022 202,785 118,901 30,276 351,962

At 31st December 2023 assets with a net book value of £34,271 (2022: £39,983) were held under hire purchase and finance leases. Depreciation of £5,712 (2022: £5,712) was charged on these assets in the year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 109,088 38,173
Prepayments and accrued income 14,269 13,369
123,357 51,542

Ross On Wye Golf Club Limited (Registered number: 12197503)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 8) 10,000 10,000
Hire purchase contracts (see note 9) 8,802 8,802
Trade creditors 25,466 27,776
Amounts due to related company 1,149 879
Tax 3,417 2,471
Payroll, pension & taxes 9,602 10,620
VAT 4,705 249
Other creditors 25,722 22,077
Captain's charity 2,890 2,745
300 Club 425 668
Prepaid membership subs 145,000 135,000
Accrued expenses 23,844 23,509
261,022 244,796

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 8) 20,833 31,667
Hire purchase contracts (see note 9) 1,971 10,773
22,804 42,440

8. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 10,833 21,667

The company took out a Government secured, bounce back loan of £50,000 in January 2021. Interest is charged at a fixed rate of 2.5%.

Ross On Wye Golf Club Limited (Registered number: 12197503)

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

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 8,802 8,802
Between one and five years 1,971 10,773
10,773 19,575

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 31,035 45,251
Between one and five years 18,394 49,429
49,429 94,680

A lease agreement is in place with Ross on Wye Golf Club Property Limited, a company also limited by guarantee. The agreement is for the rental of the course and clubhouse at a peppercorn rent for the 25 year term ending 31st December 2044.

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 10,773 19,575

11. CAPITAL COMMITMENTS
31.12.23 31.12.22
£    £   
Contracted but not provided for in the
financial statements 3,022 -

At year end, the company has committed to purchasing a new trophy cabinet. The gross cost will be £5,196, but will be partially funded by 300 Club surplus funds generated of £2,174. It will be included in fixed assets in the next financial year.

12. LIMITED BY GUARANTEE

The company has no issued share capital and is limited by guarantee of each member not exceeding £1.00