Westerhope Golf Club Limited 05392725 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Golf club Digita Accounts Production Advanced 6.30.9574.0 true true 05392725 2023-04-01 2024-03-31 05392725 2024-03-31 05392725 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 05392725 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 05392725 core:CurrentFinancialInstruments 2024-03-31 05392725 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05392725 core:Non-currentFinancialInstruments 2024-03-31 05392725 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05392725 core:FurnitureFittingsToolsEquipment 2024-03-31 05392725 bus:SmallEntities 2023-04-01 2024-03-31 05392725 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05392725 bus:FilletedAccounts 2023-04-01 2024-03-31 05392725 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05392725 bus:RegisteredOffice 2023-04-01 2024-03-31 05392725 bus:Director1 2023-04-01 2024-03-31 05392725 bus:Director2 2023-04-01 2024-03-31 05392725 bus:Director3 2023-04-01 2024-03-31 05392725 bus:Director4 2023-04-01 2024-03-31 05392725 bus:Director6 2023-04-01 2024-03-31 05392725 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 05392725 core:FurnitureFittings 2023-04-01 2024-03-31 05392725 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05392725 core:PlantMachinery 2023-04-01 2024-03-31 05392725 countries:EnglandWales 2023-04-01 2024-03-31 05392725 2023-03-31 05392725 core:FurnitureFittingsToolsEquipment 2023-03-31 05392725 2022-04-01 2023-03-31 05392725 2023-03-31 05392725 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 05392725 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 05392725 core:CurrentFinancialInstruments 2023-03-31 05392725 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05392725 core:Non-currentFinancialInstruments 2023-03-31 05392725 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 05392725 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 05392725

Westerhope Golf Club Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

image-name
 

Westerhope Golf Club Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Westerhope Golf Club Limited

Company Information

Directors

T Wardrobe

M James

A Mack

M Bell

W Thielmann

Registered office

The Clubhouse Bowerbank
Whorlton Grange Westerhope
Newcastle Upon Tyne
Tyne And Wear
NE5 1PP

Accountants

TyneRede Accountancy Ltd
Chartered Certified Accountant
Lloyds Bank House
Bellingham
Hexham
Northumberland
NE48 2AZ

 

Westerhope Golf Club Limited

(Registration number: 05392725)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

103,660

151,180

Current assets

 

Stocks

5

6,716

7,711

Debtors

6

31,898

21,597

Cash at bank and in hand

 

92,585

186,922

 

131,199

216,230

Creditors: Amounts falling due within one year

7

(189,559)

(239,353)

Net current liabilities

 

(58,360)

(23,123)

Total assets less current liabilities

 

45,300

128,057

Creditors: Amounts falling due after more than one year

7

(44,381)

(73,959)

Net assets

 

919

54,098

Reserves

 

Retained earnings

919

54,098

Surplus

 

919

54,098

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 November 2024 and signed on its behalf by:
 

.........................................
M James
Director

 

Westerhope Golf Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

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:
The Clubhouse Bowerbank
Whorlton Grange Westerhope
Newcastle Upon Tyne
Tyne And Wear
NE5 1PP

These financial statements were authorised for issue by the Board on 6 November 2024.

2

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Westerhope Golf Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

Plant & Equipment

20% straight line basis

Fixtures & Fittings

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Westerhope Golf Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 15).

 

Westerhope Golf Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

572,963

572,963

Additions

3,087

3,087

At 31 March 2024

576,050

576,050

Depreciation

At 1 April 2023

421,783

421,783

Charge for the year

50,607

50,607

At 31 March 2024

472,390

472,390

Carrying amount

At 31 March 2024

103,660

103,660

At 31 March 2023

151,180

151,180

5

Stocks

2024
£

2023
£

Other inventories

6,716

7,711

6

Debtors

2024
£

2023
£

Trade debtors

1,440

720

Prepayments

21,381

16,745

Other debtors

9,077

4,132

31,898

21,597

 

Westerhope Golf Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

29,025

34,962

Trade creditors

 

25,308

24,195

Taxation and social security

 

959

4,487

Accruals and deferred income

 

111,399

155,884

Other creditors

 

22,868

19,825

 

189,559

239,353

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,500

22,500

Hire purchase contracts

31,881

51,459

44,381

73,959

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

19,025

24,962

29,025

34,962

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £Nil).