Garnant Park Members Golf Club 08915705 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 08915705 2023-04-01 2024-03-31 08915705 2024-03-31 08915705 core:CurrentFinancialInstruments 2024-03-31 08915705 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08915705 core:FurnitureFittingsToolsEquipment 2024-03-31 08915705 bus:SmallEntities 2023-04-01 2024-03-31 08915705 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08915705 bus:FilletedAccounts 2023-04-01 2024-03-31 08915705 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08915705 bus:RegisteredOffice 2023-04-01 2024-03-31 08915705 bus:Director1 2023-04-01 2024-03-31 08915705 bus:Director2 2023-04-01 2024-03-31 08915705 bus:Director3 2023-04-01 2024-03-31 08915705 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08915705 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 08915705 core:OfficeEquipment 2023-04-01 2024-03-31 08915705 core:PlantMachinery 2023-04-01 2024-03-31 08915705 countries:EnglandWales 2023-04-01 2024-03-31 08915705 2023-03-31 08915705 core:FurnitureFittingsToolsEquipment 2023-03-31 08915705 2022-04-01 2023-03-31 08915705 2023-03-31 08915705 core:CurrentFinancialInstruments 2023-03-31 08915705 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08915705 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 08915705

Garnant Park Members Golf Club

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Garnant Park Members Golf Club

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Garnant Park Members Golf Club

Company Information

Directors

Mr Anthony David Falvey

Mr John Dylan Jones

Mr David Huw Protheroe

Registered office

GARNANT PARK GOLF CLUB DYNEVOR ROAD
GARNANT
AMMANFORD
CARMARTHENSHIRE
SA18 1NP

Accountants

DRP + Co Accountants Limited
1st Floor 6 St Johns Court
Upper Fforest Way
Swansea
C & C of Swansea
SA6 8QQ

 

Garnant Park Members Golf Club

(Registration number: 08915705)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

17,712

9,692

Current assets

 

Stocks

5

15,177

14,289

Debtors

6

2,477

18,837

Cash at bank and in hand

 

34,674

40,189

 

52,328

73,315

Creditors: Amounts falling due within one year

7

(23,030)

(56,709)

Net current assets

 

29,298

16,606

Net assets

 

47,010

26,298

Capital and reserves

 

Other reserves

3,385

4,290

Retained earnings

43,625

22,008

Shareholders' funds

 

47,010

26,298

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 27 November 2024 and signed on its behalf by:
 

.........................................
Mr Anthony David Falvey
Director

 

Garnant Park Members Golf Club

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
GARNANT PARK GOLF CLUB DYNEVOR ROAD
GARNANT
AMMANFORD
CARMARTHENSHIRE
SA18 1NP

These financial statements were authorised for issue by the Board on 27 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Garnant Park Members Golf Club

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

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.

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 and Machinery

20% cost

Office equipment

20% cost

Fixtures and fittings

20.% cost

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.

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.

Borrowings

 

Garnant Park Members Golf Club

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

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 9).

 

Garnant Park Members Golf Club

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

181,396

181,396

Additions

10,400

10,400

At 31 March 2024

191,796

191,796

Depreciation

At 1 April 2023

171,704

171,704

Charge for the year

2,380

2,380

At 31 March 2024

174,084

174,084

Carrying amount

At 31 March 2024

17,712

17,712

At 31 March 2023

9,692

9,692

5

Stocks

2024
£

2023
£

Other inventories

15,177

14,289

6

Debtors

Current

2024
£

2023
£

Prepayments

2,000

2,426

Other debtors

477

16,411

 

2,477

18,837

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

-

1,308

Taxation and social security

 

5,993

4,701

Other creditors

 

17,037

50,700

 

23,030

56,709