Company registration number 00206668 (England and Wales)
Astbury Golf Club Limited(The)
Unaudited financial statements
For the year ended 30 April 2024
Astbury Golf Club Limited(The)
Contents
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
Astbury Golf Club Limited(The)
Statement of financial position
As at 30 April 2024
30 April 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
716,622
549,439
Current assets
Stocks
6,163
8,771
Debtors
4
14,714
19,195
Cash at bank and in hand
71,807
26,110
92,684
54,076
Creditors: amounts falling due within one year
5
(388,719)
(230,319)
Net current liabilities
(296,035)
(176,243)
Total assets less current liabilities
420,587
373,196
Creditors: amounts falling due after more than one year
6
(70,342)
(23,221)
Net assets
350,245
349,975
Reserves
Income and expenditure account
350,245
349,975
Members' funds
350,245
349,975
Astbury Golf Club Limited(The)
Statement of financial position (continued)
As at 30 April 2024
30 April 2024
- 2 -

For the financial year ended 30 April 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 26 September 2024 and are signed on its behalf by:
Mr P D Richards
Director
Company registration number 00206668 (England and Wales)
Astbury Golf Club Limited(The)
Statement of changes in equity
For the year ended 30 April 2024
- 3 -
Income and expenditure
£
As restated for the period ended 30 April 2023:
Balance at 1 May 2022
447,103
Effect of change in accounting policy
941
As restated
448,044
Year ended 30 April 2023:
Deficit and total comprehensive income
(98,069)
Balance at 30 April 2023
349,975
Year ended 30 April 2024:
Surplus and total comprehensive income
270
Balance at 30 April 2024
350,245
Astbury Golf Club Limited(The)
Notes to the financial statements
For the year ended 30 April 2024
- 4 -
1
Accounting policies
Company information

Astbury Golf Club Limited(The) is a private company limited by guarantee incorporated in England and Wales. The registered office is Peel Lane, Astbury, Congleton, Cheshire, CW12 4RE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Expenses exclude VAT, with irrecoverable VAT being shown as a separate expense.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold clubhouse and course
2% straight line
Tractors, implements and sheds
Tractors and implements 25% reducing balance
Sheds 15% reducing balance
Furniture, fittings and computer equipment
Furniture and fittings 20% reducing balance
Computers 50% straight line
Course improvements
10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to surplus or deficit.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Astbury Golf Club Limited(The)
Notes to the financial statements (continued)
For the year ended 30 April 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price.

Cost is calculated on a "first in, first out" basis.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

 

There is taxation due on non-mutual trading activities.

Astbury Golf Club Limited(The)
Notes to the financial statements (continued)
For the year ended 30 April 2024
1
Accounting policies
(Continued)
- 6 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.12
Subscriptions

Subscriptions represent amounts due net of discounts and concessions, and are apportioned for the period to which they relate.

2
Employees

The average monthly number of persons employed by the company during the year was:

2024
2023
Number
Number
Total
21
23
Astbury Golf Club Limited(The)
Notes to the financial statements (continued)
For the year ended 30 April 2024
- 7 -
3
Tangible fixed assets
Freehold clubhouse and course
Tractors, implements and sheds
Furniture, fittings and computer equipment
Course improvements
Total
£
£
£
£
£
Cost
At 1 May 2023 - as previously stated
499,380
509,904
448,875
293,788
1,751,947
Prior year adjustment
127,004
127,004
At 1 May 2023 - as restated
499,380
636,908
448,875
293,788
1,878,951
Additions
113,025
119,778
13,042
13,352
259,197
Disposals
-
0
(354,164)
(296,017)
(68,611)
(718,792)
At 30 April 2024
612,405
402,522
165,900
238,529
1,419,356
Depreciation and impairment
At 1 May 2023 - as previously stated
211,097
465,184
417,623
155,917
1,249,821
Prior year adjustment
79,691
79,691
At 1 May 2023 - as restated
211,097
544,875
417,623
155,917
1,329,512
Depreciation charged in the year
9,327
27,789
6,843
26,519
70,478
Eliminated in respect of disposals
-
0
(334,325)
(294,320)
(68,611)
(697,256)
At 30 April 2024
220,424
238,339
130,146
113,825
702,734
Carrying amount
At 30 April 2024
391,981
164,183
35,754
124,704
716,622
At 1 May 2023 - as previously stated
288,283
44,720
31,252
137,871
502,126
Prior year adjustment
47,313
47,313
At 1 May 2023 - as restated
288,283
92,033
31,252
137,871
549,439

The prior year adjustment relates to assets held under finance leases previously treated as operating leases.

 

Included in land and buildings is £50,000 (2023 - £50,000) for freehold land which is not depreciated.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Service charges due
600
-
0
Other debtors
14,114
19,195
14,714
19,195
Astbury Golf Club Limited(The)
Notes to the financial statements (continued)
For the year ended 30 April 2024
- 8 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
37,744
36,738
Taxation and social security
33,935
6,284
Other creditors
317,040
187,297
388,719
230,319

Included in creditors < 1 year are finance lease balances of £28,702 (2023 : £20,159) secured on the assets to which they relate.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
70,342
23,221

Included in creditors > 1 year are finance lease balances of £70,342 (2023 : £23,221) secured on the assets to which they relate.

7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

8
Operating lease commitments

The operating lease arrangements are related to machinery used for course maintenance and upkeep.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
8,399
-
0
9
Capital commitments

There are no capital commitments contracted for at the year end, however the company has a rolling capital investment program over a period of 6 to 7 years to ensure that its plant and machinery, which are used in maintaining the course in a satisfactory condition, are replaced when they reach the end of their useful lives and also to ensure that certain legal requirements are met.

Astbury Golf Club Limited(The)
Notes to the financial statements (continued)
For the year ended 30 April 2024
- 9 -
10
Prior period adjustment

Certain assets that were previously treated as operating leases have been reclassified as finance leases.

Reconciliation of changes in equity
1 May
30 April
2022
2023
£
£
Adjustments to prior year
Hire purchase interest
(9,822)
(12,320)
Leasing expenses
74,683
95,944
Depreciation
(63,920)
(79,691)
Total adjustments
941
3,933
Equity as previously reported
447,103
346,042
Equity as adjusted
448,044
349,975
Analysis of the effect upon equity
Profit and loss reserves
941
3,933
Reconciliation of changes in deficit for the previous financial period
2023
£
Adjustments to prior year
Hire purchase interest
(2,498)
Leasing expenses
21,261
Depreciation
(15,771)
Total adjustments
2,992
Deficit as previously reported
(101,061)
Deficit as adjusted
(98,069)
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