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REGISTERED NUMBER: 08845791 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Market Rasen Golf Club Limited

Market Rasen Golf Club Limited (Registered number: 08845791)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Market Rasen Golf Club Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: J E Salt
A C Sayer
Mrs I Sen
T C Brumpton
C Law
S W G Forbes





REGISTERED OFFICE: The Clubhouse
Legsby Road
Market Rasen
Lincolnshire
LN8 3DZ





REGISTERED NUMBER: 08845791 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Market Rasen Golf Club Limited (Registered number: 08845791)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 199,572 192,289

CURRENT ASSETS
Stocks 11,537 9,749
Debtors 5 9,232 12,291
Cash at bank and in hand 336,666 284,037
357,435 306,077
CREDITORS
Amounts falling due within one year 6 171,867 171,352
NET CURRENT ASSETS 185,568 134,725
TOTAL ASSETS LESS CURRENT
LIABILITIES

385,140

327,014

CREDITORS
Amounts falling due after more than one
year

7

8,437

22,904
NET ASSETS 376,703 304,110

RESERVES
Income and expenditure account 376,703 304,110
376,703 304,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 surplus or deficit 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





A C Sayer - Director


Market Rasen Golf Club Limited (Registered number: 08845791)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Market Rasen Golf Club Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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.
Clubhouse and buildings - not provided
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost
Driving range buildings - 5% on cost
Driving range equipment - 20% 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.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

Market Rasen Golf Club Limited (Registered number: 08845791)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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 surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 26 ) .

4. TANGIBLE FIXED ASSETS
Clubhouse Fixtures
and Plant and and
buildings machinery fittings
£    £    £   
COST
At 1 October 2023 123,116 273,737 97,892
Additions 18,414 34,968 15,651
Disposals - (27,826 ) -
At 30 September 2024 141,530 280,879 113,543
DEPRECIATION
At 1 October 2023 65,033 167,305 90,718
Charge for year 25,408 17,432 5,007
Eliminated on disposal - (15,747 ) -
At 30 September 2024 90,441 168,990 95,725
NET BOOK VALUE
At 30 September 2024 51,089 111,889 17,818
At 30 September 2023 58,083 106,432 7,174

Driving Driving
range range
buildings equipment Totals
£    £    £   
COST
At 1 October 2023 20,395 36,099 551,239
Additions - 3,000 72,033
Disposals - - (27,826 )
At 30 September 2024 20,395 39,099 595,446
DEPRECIATION
At 1 October 2023 9,612 26,282 358,950
Charge for year 1,019 3,805 52,671
Eliminated on disposal - - (15,747 )
At 30 September 2024 10,631 30,087 395,874
NET BOOK VALUE
At 30 September 2024 9,764 9,012 199,572
At 30 September 2023 10,783 9,817 192,289


Market Rasen Golf Club Limited (Registered number: 08845791)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 350 -
Other debtors 8,882 12,291
9,232 12,291

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 4,577 10,079
Trade creditors 19,565 19,835
Taxation and social security 11,682 5,017
Other creditors 136,043 136,421
171,867 171,352

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 1,673 6,140
Other creditors 6,764 16,764
8,437 22,904

The other creditor represents the amount outstanding on the Bounce Back Loan scheme. This is secured against a guarantee by the bank in which the bank guarantees the repayment of the loan if the client was to default on this loan.