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REGISTERED NUMBER: 08595590 (England and Wales)












Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Matlock Golf Club Limited

Matlock Golf Club Limited (Registered number: 08595590)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Matlock Golf Club Limited

Company Information
for the year ended 29 February 2024







DIRECTORS: I Mckay
M T Moruzzi
N P Rogers
M J Wain
A Hollis
D C L Molyneux
N A D Robinson





REGISTERED OFFICE: Matlock Golf Club
Chesterfield Road
Matlock Moor
Matlock
Derbyshire
DE4 5LZ





REGISTERED NUMBER: 08595590 (England and Wales)





ACCOUNTANTS: Clayton & Brewill
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

Matlock Golf Club Limited (Registered number: 08595590)

Balance Sheet
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,966,317 390,803
Investments 5 705,632 781,620
2,671,949 1,172,423

CURRENT ASSETS
Stocks 56,087 40,373
Debtors 6 10,008 7,589
Cash at bank 388,391 436,478
454,486 484,440
CREDITORS
Amounts falling due within one year 7 1,683,999 1,623,404
NET CURRENT LIABILITIES (1,229,513 ) (1,138,964 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,442,436

33,459

CREDITORS
Amounts falling due after more than
one year

8

(26,820

)

(53,881

)

PROVISIONS FOR LIABILITIES (278,000 ) -
NET ASSETS/(LIABILITIES) 1,137,616 (20,422 )

RESERVES
Revaluation reserve 9 1,170,000 -
Fair value reserve 9 128,963 128,963
Income and expenditure account (161,347 ) (149,385 )
1,137,616 (20,422 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Matlock Golf Club Limited (Registered number: 08595590)

Balance Sheet - continued
29 February 2024


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 9 September 2024 and were signed on its behalf by:




M J Wain - Director



N P Rogers - Director


Matlock Golf Club Limited (Registered number: 08595590)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Matlock 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 as modified by the revaluation of certain assets.

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 assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 25 years
Plant and machinery etc - 20% on cost

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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

Matlock Golf Club Limited (Registered number: 08595590)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Matlock Golf Club Limited (Registered number: 08595590)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Investments
Investments are held at fair value with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 306,326 263,739 570,065
Additions 145,562 42,056 187,618
Revaluations 1,448,000 - 1,448,000
At 29 February 2024 1,899,888 305,795 2,205,683
DEPRECIATION
At 1 March 2023 66,813 112,449 179,262
Charge for year 18,389 41,715 60,104
At 29 February 2024 85,202 154,164 239,366
NET BOOK VALUE
At 29 February 2024 1,814,686 151,631 1,966,317
At 28 February 2023 239,513 151,290 390,803

Cost or valuation at 29 February 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2024 1,448,000 - 1,448,000
Cost 451,888 305,795 757,683
1,899,888 305,795 2,205,683

If Freehold land and buildings had not been revalued they would have been included at the following historical cost:

29/2/24 28/2/23
£    £   
Cost 451,888 306,326
Aggregate depreciation 85,202 66,183

Value of land in freehold land and buildings 366,686 239,513

Freehold land and buildings were valued on an open market basis on 8 August 2023 by Smith Leisure Chartered Surveyors .

Matlock Golf Club Limited (Registered number: 08595590)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 March 2023 781,620
Disposals (100,000 )
Revaluations 24,012
At 29 February 2024 705,632
NET BOOK VALUE
At 29 February 2024 705,632
At 28 February 2023 781,620

Cost or valuation at 29 February 2024 is represented by:

Other
investments
£   
Valuation in 2024 20,109
Cost 685,523
705,632

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Other debtors 10,008 7,589

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Hire purchase contracts 27,061 25,698
Trade creditors 41,186 40,922
Amounts owed to group undertakings 1,189,069 1,189,070
Taxation and social security 10,138 5,844
Other creditors 416,545 361,870
1,683,999 1,623,404

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29/2/24 28/2/23
£    £   
Hire purchase contracts 26,820 53,881

9. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 March 2023 - 128,963 128,963
Revaluation 1,170,000 - 1,170,000

At 29 February 2024 1,170,000 128,963 1,298,963