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REGISTERED NUMBER: 01378177 (England and Wales)















Greenmeadow Golf and Country Club Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024






Greenmeadow Golf and Country Club Ltd (Registered number: 01378177)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Greenmeadow Golf and Country Club Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C Richardson
N King





SECRETARY: C Richardson





REGISTERED OFFICE: Greenmeadow Farm, Treherbert Road
Croesyceiliog
Cwmbran
Torfaen
NP44 2BZ





REGISTERED NUMBER: 01378177 (England and Wales)





ACCOUNTANTS: O'Brien & Partners
Accountants & Business Advisors
11 New Street
Pontnewydd
Cwmbran
NP44 1EE

Greenmeadow Golf and Country Club Ltd (Registered number: 01378177)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,095,660 2,128,947

CURRENT ASSETS
Stocks 7,400 7,150
Debtors 5 47,068 10,365
Investments 6 78,461 73,124
Cash at bank and in hand 195,244 194,434
328,173 285,073
CREDITORS
Amounts falling due within one year 7 532,325 457,679
NET CURRENT LIABILITIES (204,152 ) (172,606 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,891,508

1,956,341

CREDITORS
Amounts falling due after more than one year 8 (625,298 ) (782,721 )

PROVISIONS FOR LIABILITIES (109,836 ) (89,800 )
NET ASSETS 1,156,374 1,083,820

CAPITAL AND RESERVES
Called up share capital 191,000 191,000
Revaluation reserve 10 282,809 282,809
Retained earnings 682,565 610,011
SHAREHOLDERS' FUNDS 1,156,374 1,083,820

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

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

Greenmeadow Golf and Country Club Ltd (Registered number: 01378177)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





C Richardson - Director


Greenmeadow Golf and Country Club Ltd (Registered number: 01378177)

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

1. STATUTORY INFORMATION

Greenmeadow Golf and Country Club Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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, modified to include the revaluation of freehold properties and to include certain financial instruments at fair value.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Plant and machinery - 15% on reducing balance

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Greenmeadow Golf and Country Club Ltd (Registered number: 01378177)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 36 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 April 2023 1,800,000 829,725 2,629,725
Additions - 20,377 20,377
Disposals - (62,207 ) (62,207 )
At 31 March 2024 1,800,000 787,895 2,587,895
DEPRECIATION
At 1 April 2023 - 500,778 500,778
Charge for year - 49,874 49,874
Eliminated on disposal - (58,417 ) (58,417 )
At 31 March 2024 - 492,235 492,235
NET BOOK VALUE
At 31 March 2024 1,800,000 295,660 2,095,660
At 31 March 2023 1,800,000 328,947 2,128,947

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 89,000
DEPRECIATION
At 1 April 2023
and 31 March 2024 12,524
NET BOOK VALUE
At 31 March 2024 76,476
At 31 March 2023 76,476

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 5,154 6,224
Other debtors 41,914 4,141
47,068 10,365

6. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Other 78,461 73,124

Greenmeadow Golf and Country Club Ltd (Registered number: 01378177)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 107,562 112,755
Hire purchase contracts 16,553 40,400
Trade creditors 160,531 108,480
Taxation and social security 89,748 75,160
Other creditors 157,931 120,884
532,325 457,679

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 611,653 757,936
Hire purchase contracts 13,645 24,785
625,298 782,721

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 719,215 870,691
Hire purchase contracts 30,198 65,185
749,413 935,876

The bank loans and overdrafts are secured by a fixed and floating charge over the assets of the company. The net obligations under hire purchase contracts are secured on the assets to which they relate.

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 282,809