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Registered number: 13752373
MIDDLETON HALL GOLF CLUB LIMITED
Unaudited Financial Statements
For The Year Ended 31 January 2024
Mensis Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13752373
31 January 2024 31 January 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1 1
Tangible Assets 5 1,493,412 1,517,886
1,493,413 1,517,887
CURRENT ASSETS
Stocks 6 53,088 31,206
Debtors 7 29,260 63,427
Cash at bank and in hand 36,012 5,036
118,360 99,669
Creditors: Amounts Falling Due Within One Year 8 (1,559,251 ) (1,552,284 )
NET CURRENT ASSETS (LIABILITIES) (1,440,891 ) (1,452,615 )
TOTAL ASSETS LESS CURRENT LIABILITIES 52,522 65,272
NET ASSETS 52,522 65,272
CAPITAL AND RESERVES
Called up share capital 9 600 600
Profit and Loss Account 51,922 64,672
SHAREHOLDERS' FUNDS 52,522 65,272
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Freeman
Director
09/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MIDDLETON HALL GOLF CLUB LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 13752373 . The registered office is 1 Marybrook Street, Berkeley, Glos, GL13 9AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold n/a
Plant & Machinery 3 years straight line
Motor Vehicles 3 years straight line
Fixtures & Fittings 3 years straight line
Computer Equipment 3 years straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 17)
17 17
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 1
As at 31 January 2024 1
Net Book Value
As at 31 January 2024 1
As at 1 February 2023 1
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 February 2023 1,429,198 9,033 15,259 96,246
Additions - - - 2,405
As at 31 January 2024 1,429,198 9,033 15,259 98,651
Depreciation
As at 1 February 2023 - 2,178 4,960 25,097
Provided during the period - 3,011 5,087 32,709
As at 31 January 2024 - 5,189 10,047 57,806
Net Book Value
As at 31 January 2024 1,429,198 3,844 5,212 40,845
As at 1 February 2023 1,429,198 6,855 10,299 71,149
Page 4
Page 5
Computer Equipment Total
£ £
Cost
As at 1 February 2023 513 1,550,249
Additions 19,657 22,062
As at 31 January 2024 20,170 1,572,311
Depreciation
As at 1 February 2023 128 32,363
Provided during the period 5,729 46,536
As at 31 January 2024 5,857 78,899
Net Book Value
As at 31 January 2024 14,313 1,493,412
As at 1 February 2023 385 1,517,886
6. Stocks
31 January 2024 31 January 2023
£ £
Stock 53,088 31,206
7. Debtors
31 January 2024 31 January 2023
£ £
Due within one year
Trade debtors - 32,000
Prepayments and accrued income 3,662 5,219
Other debtors 25,598 26,208
29,260 63,427
8. Creditors: Amounts Falling Due Within One Year
31 January 2024 31 January 2023
£ £
Trade creditors 1,531 11,488
Corporation tax 8,985 -
Other taxes and social security 4,152 3,903
VAT 8,531 8,690
Other creditors 55,244 35,556
Accruals and deferred income 1,000 11,778
Directors' loan accounts 1,479,808 1,480,869
1,559,251 1,552,284
Page 5
Page 6
9. Share Capital
31 January 2024 31 January 2023
£ £
Allotted, Called up and fully paid 600 600
Page 6