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REGISTERED NUMBER: 00151621 (England and Wales)


























AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WOOLTON GOLF CLUB LIMITED

WOOLTON GOLF CLUB LIMITED (REGISTERED NUMBER: 00151621)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WOOLTON GOLF CLUB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr G Williams
Mr T Beggs
Mr F Shotter
Mr A Rogers
Ms J Beggs
Mr H Baird
Mr S Chapman
Mrs Y Tsao
Mrs A Grace
Mr E Imrie





SECRETARY: E McElroy





REGISTERED OFFICE: Doe Park
Speke Road
Woolton
Liverpool
L25 7TZ





REGISTERED NUMBER: 00151621 (England and Wales)





AUDITORS: Livesey Spottiswood Ltd
Chartered Accountants and
Statutory Auditors
17 George Street
St Helens
Merseyside
WA10 1DB

WOOLTON GOLF CLUB LIMITED (REGISTERED NUMBER: 00151621)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 780,555 815,867

CURRENT ASSETS
Stocks 7,684 12,217
Debtors 5 23,350 18,726
Cash at bank and in hand 8,160 34,517
39,194 65,460
CREDITORS
Amounts falling due within one year 6 (447,103 ) (411,923 )
NET CURRENT LIABILITIES (407,909 ) (346,463 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

372,646

469,404

CREDITORS
Amounts falling due after more than one year 7 (268,604 ) (297,671 )
NET ASSETS 104,042 171,733

RESERVES
Retained earnings 104,042 171,733
104,042 171,733

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 2 February 2024 and were signed on its behalf by:




Mr E Imrie - Director



Mr T Beggs - Director


WOOLTON GOLF CLUB LIMITED (REGISTERED NUMBER: 00151621)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Woolton 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Subscriptions
Subscriptions are derived from members paying their annual fee either in a lump sum or over terms of 6 or 11 months. There is also income from annual locker rental.

Visitor/Green Fees
These are fees paid by external customers. They can be paid either online or through the Pro-Shop. The fees collected in the Pro Shop are paid over to the office on a weekly basis. Entrance money is also collected from external competitions (i.e Opens).

Bar income
Members and visitors pay for drinks at the bar. Members pay using a pre-paid bar card for which they are allowed a discount on their drinks. Visitors can pay by cash or card.

Functions and Other Income
Income is derived from food sales for specific events. This is usually paid in advance for large events (eg weddings, large parties) or can be on the day of the event (eg funerals, lunches). A commission is paid from the Chef in relation to the number of meals/cost of meals served or cost per head.

Room Hire
Rent for the upstairs rooms is invoiced and received in April and October. Room hire for functions is paid at the time of booking (and is also used as a deposit).

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Land and buildings-2% on cost of buildings
Course plant and equipment-5% to 33% on cost
House fixtures & fittings-10% to 33% on cost

Assets are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

WOOLTON GOLF CLUB LIMITED (REGISTERED NUMBER: 00151621)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals payable under operating leases are charged against profits on a straight line basis over the periods of the leases. Assets acquired under finance leases and hire purchase contracts are capitalised as tangible fixed assets and depreciated in accordance with the accounting policy on depreciation. The related obligations, net of finance costs allocated to future periods, are included in creditors. Finance costs are charged against profits on a straight line basis over the periods of the contracts.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Grants
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Irrecoverable VAT
The company is partially exempt for VAT. Irrecoverable VAT on revenue expenditure is written off in the period in which it is incurred. Irrecoverable VAT on capital expenditure is capitalised within the cost of the asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 23 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 929,385 707,517 1,636,902
DEPRECIATION
At 1 January 2023 225,157 595,878 821,035
Charge for year 14,988 20,324 35,312
At 31 December 2023 240,145 616,202 856,347
NET BOOK VALUE
At 31 December 2023 689,240 91,315 780,555
At 31 December 2022 704,228 111,639 815,867

Included in the cost of course plant and equipment are assets held under finance leases and hire purchase contracts amounting to £29,950 (2022 - £29,950). Accumulated depreciation on these assets amounts to £16,043 (2022 - £11,948).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 23,350 18,726

WOOLTON GOLF CLUB LIMITED (REGISTERED NUMBER: 00151621)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdraft 137,858 119,045
Hire purchase contracts 3,621 5,611
Trade creditors 45,740 46,705
Taxation and social security 32,581 38,084
Other creditors 227,303 202,478
447,103 411,923

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 47,049 69,452
Hire purchase contracts 1,100 4,721
Other creditors 220,455 223,498
268,604 297,671

Included above are bank and other loans repayable by instalments after more than a five year period of £9,259 (2022 - £22,998).

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 8,254 2,943
Between one and five years 80,638 136,458
88,892 139,401

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 115,458 96,845
Bank loans 69,449 91,652
Hire purchase 4,721 10,332
Other loan 75,926 87,037
265,554 285,866

The bank loans and overdraft are secured by a fixed charge over the freehold and leasehold property, first fixed charge over book and other debts and first floating charge over all assets and undertaking both present and future.

The hire purchase contracts are secured against the assets to which they relate.

The other loan secured by a fixed charge over the company's freehold property.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Hudd BA FCA (Senior Statutory Auditor)
for and on behalf of Livesey Spottiswood Ltd

WOOLTON GOLF CLUB LIMITED (REGISTERED NUMBER: 00151621)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities, for routine payroll services, for routine bookkeeping services and assist with the preparation of the financial statements.