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REGISTERED NUMBER: 00203865 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PENWORTHAM GOLF CLUB LIMITED

PENWORTHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 00203865)

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


PENWORTHAM GOLF CLUB LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: S Fisher
I Parkinson
P Todhunter
S R Coulson
J Heaney
S Hall
G T Hughes


REGISTERED OFFICE: Blundell Lane
Penwortham
Preston
Lancashire
PR1 0AX


REGISTERED NUMBER: 00203865 (England and Wales)


ACCOUNTANTS: ma2 (Blackpool) Limited
288 Church Street
Blackpool
Lancashire
FY1 3QA


BANKERS: The Royal Bank of Scotland
78 Liverpool Road
Penwortham
Preston
PR1 0DQ

PENWORTHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 00203865)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 761,721 793,909

CURRENT ASSETS
Stocks 10,705 10,061
Debtors 5 16,820 8,977
Cash at bank and in hand 336,285 314,241
363,810 333,279
CREDITORS
Amounts falling due within one year 6 334,815 326,948
NET CURRENT ASSETS 28,995 6,331
TOTAL ASSETS LESS CURRENT
LIABILITIES

790,716

800,240

CREDITORS
Amounts falling due after more than one
year

7

205,694

238,483
NET ASSETS 585,022 561,757

CAPITAL AND RESERVES
Called up share capital 9 1,638 1,638
Retained earnings 10 583,384 560,119
SHAREHOLDERS' FUNDS 585,022 561,757

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.

PENWORTHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 00203865)

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 6 March 2024 and were signed on its behalf by:





S Fisher - Director


PENWORTHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 00203865)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Penwortham 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land & buildings - 15% on reducing balance and 2% on cost
Course improvements - on straight line basis
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% 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.

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.

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.

PENWORTHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 00203865)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land & Course Plant and
buildings improvements machinery
£    £    £   
COST
At 1 January 2023 737,462 827,566 575,466
Additions - - 69,429
Disposals - - (22,671 )
At 31 December 2023 737,462 827,566 622,224
DEPRECIATION
At 1 January 2023 288,604 662,663 458,519
Charge for year 17,374 24,328 46,160
Eliminated on disposal - - (21,586 )
At 31 December 2023 305,978 686,991 483,093
NET BOOK VALUE
At 31 December 2023 431,484 140,575 139,131
At 31 December 2022 448,858 164,903 116,947

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 556,898 68,855 2,766,247
Additions - - 69,429
Disposals - - (22,671 )
At 31 December 2023 556,898 68,855 2,813,005
DEPRECIATION
At 1 January 2023 497,709 64,843 1,972,338
Charge for year 9,381 3,289 100,532
Eliminated on disposal - - (21,586 )
At 31 December 2023 507,090 68,132 2,051,284
NET BOOK VALUE
At 31 December 2023 49,808 723 761,721
At 31 December 2022 59,189 4,012 793,909

Included in cost of land and buildings is freehold land of £ 50,090 (2022 - £ 50,090 ) which is not depreciated.

PENWORTHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 00203865)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,250 900
VAT - 8
Prepayments and accrued income 15,570 8,069
16,820 8,977

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 38,190 34,839
Trade creditors 47,128 33,875
Tax - 75
Social security and other taxes 5,087 4,548
VAT 169 -
Other creditors 26,617 27,015
Accruals and deferred income 217,624 226,596
334,815 326,948

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - over one year 205,694 238,483

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 243,884 273,322

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,638 Ordinary £1 1,638 1,638

PENWORTHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 00203865)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


10. RESERVES
Retained
earnings
£   

At 1 January 2023 560,119
Profit for the year 23,265
At 31 December 2023 583,384