Registered number
NI033484
Aughnacloy Golf Properties Ltd
Financial Accounts for the year ended
31 December 2023
Aughnacloy Golf Properties Ltd
Company Information
Directors
Mr Alan Reid
Mr Hugh Williamson
Mr Peter Kilpatrick
Secretary
Mr Sidney Houston
Accountants
Tyrone Accountancy Services
8-10 Church Street
Omagh
Co. Tyrone
BT78 1DG
Bankers
Ulster Bank
2 Caledon Road
Aughnacloy
Co. Tyrone
BT69 6AL
Solicitors
CT McAlpine
Northland Row
Dungannon
Co. Tyrone
BT71 6AT
Registered office
99 Tullyvar Road
Aughnacloy
Co. Tyrone
BT69 6BL
Registered number
NI033484
Aughnacloy Golf Properties Ltd
Registered number: NI033484
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 347,881 352,154
Current assets
Debtors 4 2,611 15,111
Cash at bank and in hand 27,348 18,671
29,959 33,782
Creditors: amounts falling due within one year 5 (7,826) (16,412)
Net current assets 22,133 17,370
Total assets less current liabilities 370,014 369,524
Creditors: amounts falling due after more than one year 6 (10,564) (13,545)
Provisions for liabilities 8 (150) (271)
Net assets 359,300 355,708
Capital and reserves
Called up, issued and fully paid share capital 180,000 180,000
Profit and loss account 179,300 175,708
Shareholders' funds 9 359,300 355,708
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 under section 444 of the Companies Act 2006.
The notes on pages 6 to 8 form an integral part of the accounts.
Sidney Houston Mr Hugh Williamson
Secretary Director
Mr Alan Reid Mr Peter Kilpatrick
Director Director
Approved by the board on 3 September 2024
Aughnacloy Golf Properties Ltd
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.
The financial statements are presented in UK Sterling pounds (£).
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 rental of premises.
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:
Freehold buildings 2% straight line
Plant and machinery 25% reducing balance
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.
Government grants
Grants are recognised using the accruals basis. Capital grants received and receivable are treated as deferred income and amortised to the profit and loss account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the profit and loss account in the period in which they become receivable.
Provisions
Provisions (i.e. 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.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classes as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 387,338 72,751 460,089
At 31 December 2023 387,338 72,751 460,089
Depreciation
At 1 January 2023 38,518 69,417 107,935
Charge for the year 3,439 834 4,273
At 31 December 2023 41,957 70,251 112,208
Net book value
At 31 December 2023 345,381 2,500 347,881
At 31 December 2022 348,820 3,334 352,154
4 Debtors 2023 2022
£ £
Money due from Golf Club re: bar stock 2,611 2,611
Rent from Golf Club - 12,500
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,622 7,725
Taxes and social security costs 1,774 2,605
Other creditors 1,430 6,082
7,826 16,412
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 10,564 13,545
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 17,658 17,658
Ulster Bank Limited charge created on 12 May 2011: Club House premises 99a Tullyvar Road, Aughnacloy. The amount secured is that of all monies due or becoming due from the company to the chargee.
8 Provision for liabilities
Deferred Taxation
£
At 1 January 2023 271
Charged to the profit and loss (121)
At 31 December 2023 150
The provision for deferred taxation is made up as follows:
2023 2022
£ £
Accelerated capital allowances (121) (166)
(121) (166)
9 Statement of changes in equity
The shareholders funds represents cumulative profits or losses, net of dividends paid, deferred tax adjustments and other adjustments.
10 Other information
Aughnacloy Golf Properties Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
99 Tullyvar Road
Aughnacloy
Co. Tyrone
BT69 6BL
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