2023-01-012023-12-312023-12-31false01294222BREIGHTMET GOLF CLUB 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BREIGHTMET GOLF CLUB LIMITED

Registered Number
01294222
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

BREIGHTMET GOLF CLUB LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

ELLIS, Graham
FENTON, Martin
GRIFFITHS, Stephen Potter
PLATT, Stephen Stuart
WOOD, John Stephen

Company Secretary

GRIFFITHS, Stephen

Registered Address

Red Bridge
Ainsworth
Bolton
BL2 5PA

Registered Number

01294222 (England and Wales)
BREIGHTMET GOLF CLUB LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3839,699826,111
839,699826,111
Current assets
Stocks44,2653,800
Debtors8,6234,521
Cash at bank and on hand1,111116
13,9998,437
Creditors amounts falling due within one year5(149,719)(199,944)
Net current assets (liabilities)(135,720)(191,507)
Total assets less current liabilities703,979634,604
Creditors amounts falling due after one year6(153,119)(50,327)
Net assets550,860584,277
Capital and reserves
Profit and loss account550,860584,277
Reserves550,860584,277
The financial statements were approved and authorised for issue by the Board of Directors on 8 February 2024, and are signed on its behalf by:
FENTON, Martin
Director
Registered Company No. 01294222
BREIGHTMET GOLF CLUB LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by guarantee and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue 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 transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible Fixed Assets Included within the Land and Buildings valuation is an amount of £682,537 being the value of land and course development which is not depreciated. The buildings valuation is depreciated at 2% per annum over 50 years commencing 1988, with no residual valuation. All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Land and buildings50
Plant and machinery5
Fixtures and fittings6
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year77
3.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 January 231,073,835300,2171,374,052
Additions-32,00032,000
Disposals-(282,217)(282,217)
At 31 December 231,073,83550,0001,123,835
Depreciation and impairment
At 01 January 23263,622284,319547,941
Charge for year7,8249,69017,514
On disposals-(281,319)(281,319)
At 31 December 23271,44612,690284,136
Net book value
At 31 December 23802,38937,310839,699
At 31 December 22810,21315,898826,111
4.Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs

2023

2022

££
Other stocks4,2653,800
Total4,2653,800
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables23,65599
Bank borrowings and overdrafts68,691111,790
Taxation and social security5,0272,665
Other creditors48,79682,890
Accrued liabilities and deferred income3,5502,500
Total149,719199,944
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts45,11950,327
Other creditors108,000-
Total153,11950,327
7.Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
8.Pension commitments
The company operates a defined contribution pension scheme for the directors and senior employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £189.42 were due to the fund. They are included in other creditors.