REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 December 2023 |
for |
Cretingham Golf Club Ltd. |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 December 2023 |
for |
Cretingham Golf Club Ltd. |
Cretingham Golf Club Ltd. (Registered number: 03667874) |
Contents of the Financial Statements |
for the Year Ended 30 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Cretingham Golf Club Ltd. |
Company Information |
for the Year Ended 30 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
5 Church Street |
Framlingham |
Woodbridge |
Suffolk |
IP13 9BQ |
Cretingham Golf Club Ltd. (Registered number: 03667874) |
Balance Sheet |
30 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 profit or loss 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. |
Cretingham Golf Club Ltd. (Registered number: 03667874) |
Balance Sheet - continued |
30 December 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Cretingham Golf Club Ltd. (Registered number: 03667874) |
Notes to the Financial Statements |
for the Year Ended 30 December 2023 |
1. | STATUTORY INFORMATION |
Cretingham Golf Club Ltd. is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
Cretingham Golf Club Ltd. (Registered number: 03667874) |
Notes to the Financial Statements - continued |
for the Year Ended 30 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Lease |
£ |
COST |
At 31 December 2022 |
Disposals | ( |
) |
At 30 December 2023 |
AMORTISATION |
At 31 December 2022 |
Eliminated on disposal | ( |
) |
At 30 December 2023 |
NET BOOK VALUE |
At 30 December 2023 |
At 30 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 31 December 2022 |
Disposals | ( |
) |
At 30 December 2023 |
DEPRECIATION |
At 31 December 2022 |
Eliminated on disposal | ( |
) |
At 30 December 2023 |
NET BOOK VALUE |
At 30 December 2023 |
At 30 December 2022 |
Cretingham Golf Club Ltd. (Registered number: 03667874) |
Notes to the Financial Statements - continued |
for the Year Ended 30 December 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31 December 2022 |
and 30 December 2023 |
NET BOOK VALUE |
At 30 December 2023 |
At 30 December 2022 |
For the year ended 31st December 2023 the Directors' reviewed the valuation of the investment property on an open market basis and were of the opinion that no revaluation adjustment was required. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Directors' current accounts | 49,878 | 37,645 |
Tax |
VAT |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 10) |
Trade creditors |
Tax |
Social security and other taxes |
Directors' current accounts | 14,736 | - |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans (see note 10) |
Cretingham Golf Club Ltd. (Registered number: 03667874) |
Notes to the Financial Statements - continued |
for the Year Ended 30 December 2023 |
10. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts owing under hire purchase contracts are secured on the assets to which they relate. |
Bank borrowings are secured by a charge over the company's assets. |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30 December 2023 and 30 December 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |