Registration number:
Cradoc Golf Club Limited
(A company limited by guarantee)
Unaudited Financial Statements
for the
Year Ended 31 January 2024
Cradoc Golf Club Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Cradoc Golf Club Limited
Company Information
Directors |
Mr N J Morrell Mr J B Jones Mr S Williams Mr G J Jenkins Mr S Matthews Mrs A Black |
Registered office |
|
Bankers |
|
Accountants |
|
Cradoc Golf Club Limited
(Registration number: 08838960)
Balance Sheet
as at 31 January 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investments |
|
|
|
|
|
||
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current (liabilities)/assets |
( |
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net assets |
|
|
|
Reserves |
|||
Retained earnings |
526,973 |
619,897 |
|
Surplus |
526,973 |
619,897 |
For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Cradoc Golf Club Limited
(Registration number: 08838960)
Balance Sheet
as at 31 January 2024
......................................... |
Cradoc Golf Club Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024
General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
Wales
The principal place of business is:
Penoyre Park
Cradoc
Brecon
Powys
LD3 9LP
Wales
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest £1.
Group accounts not prepared
Cradoc Golf Club Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable from the members of Cradoc Golf Club for the provision of golfing facilities in the ordinary course of the company's activities. Turnover is shown net of Value Added Tax where this applies.
The company recognises revenue when:
(a) The amount of revenue can be reliably measured;
(b) it is probable that future economic benefits will flow to the entity; and
(c) specific criteria have been met for each of the company's activities.
Government grants
Government grants received in connection with the coronavirus pandemic are recognised as income as received, except that grants under the Coronavirus Job Retention Scheme are recognised in accordance with the payroll period to which they relate.
Tax
The company is a registered Community Amateur Sports Club. As all the income generated by the company is from members, apart from rental income which is below the relevant threshold of £100,000, it qualifies for full relief from Corporation Tax.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold land |
No depreciation charged |
Freehold buildings |
2% pa and 4% pa straight line |
Range fencing |
4% pa straight line |
Plant and machinery |
10% pa and 20% pa straight line |
Fixtures and fittings |
10% pa and 20% pa straight line |
Bar and catering equipment |
10% pa and 20% pa straight line |
Office equipment |
10% pa and 20% pa straight line |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Cradoc Golf Club Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024
Investments
Investments in equity shares which are not publicly traded are measured at cost less impairment.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from members and other parties for facilities provided in the ordinary course of business. Trade debtors atre recognised at the transaction price.
Stocks
Stocks of consumables are stated at cost price.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are recognised at the transaction price.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Cradoc Golf Club Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024
Tangible assets |
Land and buildings |
Range fencing |
Fixtures and fittings |
Plant and machinery |
||||
Cost or valuation |
|||||||
At 1 February 2023 |
|
|
|
|
|||
Additions |
- |
- |
|
|
|||
At 31 January 2024 |
|
|
|
|
|||
Depreciation |
|||||||
At 1 February 2023 |
|
|
|
|
|||
Charge for the year |
|
|
|
|
|||
At 31 January 2024 |
|
|
|
|
|||
Carrying amount |
|||||||
At 31 January 2024 |
|
|
|
|
|||
At 31 January 2023 |
|
|
|
|
Office equipment |
Bar and catering equipment |
Total |
|||||
Cost or valuation |
|||||||
At 1 February 2023 |
|
|
|
||||
Additions |
|
|
|
||||
At 31 January 2024 |
|
|
|
||||
Depreciation |
|||||||
At 1 February 2023 |
|
|
|
||||
Charge for the year |
|
|
|
||||
At 31 January 2024 |
|
|
|
||||
Carrying amount |
|||||||
At 31 January 2024 |
|
|
|
||||
At 31 January 2023 |
|
|
|
Included within the net book value of land and buildings above is £454,334 (2023 - £460,584) in respect of freehold land and buildings.
Cradoc Golf Club Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024
Investments |
2024 |
2023 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 February 2023 |
|
Provision |
|
Carrying amount |
|
At 31 January 2024 |
|
At 31 January 2023 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
2024 |
2023 |
|||
Subsidiary undertakings |
||||
|
Penoyre Park, Cradoc, Brecon, Powys, LD3 9LP England and Wales |
|
|
|
Subsidiary undertakings |
Cradoc Golf Club Trading Limited The principal activity of Cradoc Golf Club Trading Limited is |
Cradoc Golf Club Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024
Debtors |
Current |
Note |
2024 |
2023 |
Trade debtors |
|
|
|
Amounts owed by related parties |
|
- |
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
Cradoc Golf Club Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
- |
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
|
Due after one year |
|||
Loans and borrowings |
|
|
Loans and borrowings |
2024 |
2023 |
|
Non-current loans and borrowings |
||
Bank borrowings |
|
|
Other borrowings |
|
|
|
|
2024 |
2023 |
|
Current loans and borrowings |
||
Bank borrowings |
|
|
Other borrowings |
|
|
|
|