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REGISTERED NUMBER: 00188624 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Newcastle-Under-Lyme Golf Club Limited

Newcastle-Under-Lyme Golf Club Limited (Registered number: 00188624)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Newcastle-Under-Lyme Golf Club Limited (Registered number: 00188624)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 551,920 542,246

CURRENT ASSETS
Stocks 14,028 9,172
Debtors 5 11,680 11,096
Cash at bank and in hand 42,511 130,055
68,219 150,323
CREDITORS
Amounts falling due within one year 6 336,946 379,487
NET CURRENT LIABILITIES (268,727 ) (229,164 )
TOTAL ASSETS LESS CURRENT LIABILITIES 283,193 313,082

CREDITORS
Amounts falling due after more than one year 7 66,463 98,165
NET ASSETS 216,730 214,917

CAPITAL AND RESERVES
Called up share capital 9 467 497
Capital redemption reserve 10 81 81
Other reserves 10 16,793 16,793
Retained earnings 10 199,389 197,546
SHAREHOLDERS' FUNDS 216,730 214,917

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





P S Sherratt - Director


Newcastle-Under-Lyme Golf Club Limited (Registered number: 00188624)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Newcastle-Under-Lyme Golf Club Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00188624

Registered office: Whitmore Road
Newcastle-Under-Lyme
Staffordshire
ST5 2QB

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on the assumption that the company is able to carry on business as a going concern, which the directors consider appropriate having regard to the circumstances outlined below.

The company's cash flow is uneven due to the annual collection of subscriptions. As a result, it is sometimes necessary to the meet its day to day working capital requirements through an overdraft facility. The current economic conditions create uncertainty particularly over the level of memberships and the availability of bank finance.

The company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that it should be able to operate within the level of its current facility. The company's bankers have confirmed that the facilities will be renewed.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, and therefore the financial statements have been prepared on a going concern basis.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, after discounts and rebates, excluding value added tax and other sales taxes. The following criteria must also be met before turnover is recognised.

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

-
the Company retains neither continuing managerial involvement to the degree usually associated with ownership
nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction;
and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Subscription fee income is recognised in the period to which it relates when a new member joins the club or an existing member renews their membership. The subscription income is then spread over the membership period.

Entrance fees are recognised in full when each new member joins the club, subject to a provision to cover any new members who leave prior to completing their joining fee instalments. When entrance fees include a free year's subscription, full credit is taken for this amount on the date the entrance fee is received.

Newcastle-Under-Lyme Golf Club Limited (Registered number: 00188624)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold course - not provided
Other freehold - 10% on cost and 2% on cost
Computer equipment and swipe system - 25% on cost
Fixed plant - 10% on cost
Fixtures, fittings & equipment - 25% on cost
Tractor shed and shelter - 10 - 20% straight line
Mowing machine & implements - 25% on cost

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 Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 25 ) .

Newcastle-Under-Lyme Golf Club Limited (Registered number: 00188624)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
Freehold Other and swipe Fixed
course freehold system plant
£    £    £    £   
COST
At 1 September 2023 30,928 673,859 37,498 114,939
Additions - 40,038 - 18,474
Disposals - - - (12,044 )
At 31 August 2024 30,928 713,897 37,498 121,369
DEPRECIATION
At 1 September 2023 - 429,320 34,440 90,553
Charge for year - 16,831 873 3,209
Eliminated on disposal - - - (2,409 )
At 31 August 2024 - 446,151 35,313 91,353
NET BOOK VALUE
At 31 August 2024 30,928 267,746 2,185 30,016
At 31 August 2023 30,928 244,539 3,058 24,386

Fixtures, Tractor Mowing
fittings shed and machine &
& equipment shelter implements Totals
£    £    £    £   
COST
At 1 September 2023 212,676 158,158 776,366 2,004,424
Additions 9,155 - 49,355 117,022
Disposals - - (578,027 ) (590,071 )
At 31 August 2024 221,831 158,158 247,694 1,531,375
DEPRECIATION
At 1 September 2023 202,633 56,937 648,295 1,462,178
Charge for year 9,213 6,326 42,299 78,751
Eliminated on disposal - - (559,065 ) (561,474 )
At 31 August 2024 211,846 63,263 131,529 979,455
NET BOOK VALUE
At 31 August 2024 9,985 94,895 116,165 551,920
At 31 August 2023 10,043 101,221 128,071 542,246

Newcastle-Under-Lyme Golf Club Limited (Registered number: 00188624)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures, Mowing
fittings machine &
& equipment implements Totals
£    £    £   
COST
At 1 September 2023 32,852 191,918 224,770
Additions - 43,360 43,360
At 31 August 2024 32,852 235,278 268,130
DEPRECIATION
At 1 September 2023 28,299 94,865 123,164
Charge for year 4,553 33,297 37,850
At 31 August 2024 32,852 128,162 161,014
NET BOOK VALUE
At 31 August 2024 - 107,116 107,116
At 31 August 2023 4,553 97,053 101,606

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,972 6,644
Other debtors 4,708 4,452
11,680 11,096

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 25,162 37,408
Hire purchase contracts 60,127 48,038
Trade creditors 34,661 37,026
Taxation and social security 24,091 35,157
Other creditors 192,905 221,858
336,946 379,487

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 7,500 17,500
Hire purchase contracts 58,963 78,265
Other creditors - 2,400
66,463 98,165

Newcastle-Under-Lyme Golf Club Limited (Registered number: 00188624)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 32,662 54,908
Hire purchase contracts 119,090 126,303
151,752 181,211

The bank loans are secured by a fixed charge over the company freehold property.

Hire purchase contracts are secured against the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
467 Ordinary £1 467 497

Each full member of the club is entitled to one share. The share capital in issue has increased due to the number of shares issued to new members being higher than the number of revoked shares from members who have left the club.

10. RESERVES
Capital
Retained redemption Other
earnings reserve reserves Totals
£    £    £    £   

At 1 September 2023 197,546 81 16,793 214,420
Profit for the year 1,843 1,843
At 31 August 2024 199,389 81 16,793 216,263

Retained earnings represents the accumulated profits less accumulated losses and distributions up to the reports date. This is a distributable reserve.

Other reserves represents accumulated amounts received in relation to specific projects less accumulated expenditure on these specific projects up to the reporting date. This is not a distributable reserve.

11. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £16,287 (2023 - £13,234). Contributions totalling £1,517 (2023 - 1,249) were payable to the fund at the balance sheet date.

12. RELATED PARTY DISCLOSURES

The company operates a members' loan scheme where loans are repaid by ballot each year. Loans repaid during the year amounted to £Nil (2023 - £3,000).

At the year end the members' loan balance was £3,000 (2023 - £3,000). No interest is charged on the loans and the loans were unsecured and repayable on demand.

13. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.