REGISTERED NUMBER: 00064656 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Wearside Golf Club Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

R H S Willis

A Sanders

S Hixon

R R Hall

G Hope

S Fraser

E Patterson

R Tatters

A Thompson

D Bean

P L Pollard

P M Cockburn

S Newton

SECRETARY:

S A Belchamber

REGISTERED OFFICE:

Coxgreen

Sunderland

Tyne & Wear

SR4 9JT

REGISTERED NUMBER:

00064656 (England and Wales)

ACCOUNTANTS:

TTR Barnes Limited

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

BANKERS:

National Westminster Bank Plc

52 Fawcett Street

Sunderland

Tyne and Wear

SR1 1SB

FIXED ASSETS

Tangible assets

4

849,475

817,721

Investments

5

1

1

849,476

817,722

CURRENT ASSETS

Stocks

16,545

15,700

Debtors

6

253,339

241,468

Cash at bank and in hand

563,667

492,269

833,551

749,437

CREDITORS

Amounts falling due within one year

7

272,370

246,128

NET CURRENT ASSETS

561,181

503,309

TOTAL ASSETS LESS CURRENT LIABILITIES

1,410,657

1,321,031

CREDITORS

Amounts falling due after more than one year

8

23,641

-

NET ASSETS

1,387,016

1,321,031

RESERVES

Special reserves

10,000

10,000

Revaluation reserve

274,787

274,787

Capital reserves

42,142

42,142

Income and expenditure account

1,060,087

994,102

1,387,016

1,321,031

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 2 December 2024 and were signed on its behalf by:

G Hope - Director

1.	STATUTORY INFORMATION

Wearside 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider appropriate.

Turnover

Turnover represents amounts receivable for goods and services excluding value added tax.

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.

Land and buildings

-

2% on cost

Machinery and equipment

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stock is valued at the lower of costs and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

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.

In order to comply with FRS102, hire purchase liabilities have been restated to fair value. This means that the annual hire purchase interest charge has been calculated under the sum-of-digits method, whereas previously the annual hire purchase interest charge had been calculated under straight line method.

Deferred income

Income arising from the sale of life memberships is recognised at a rate equivalent to the annual rate for a gentleman's subscription.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Machinery

Fixtures

Land and

and

and

Computer

buildings

equipment

fittings

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 October 2023

777,323

515,787

228,114

15,087

1,536,311

Additions

-

74,288

-

-

74,288

At 30 September 2024

777,323

590,075

228,114

15,087

1,610,599

DEPRECIATION

At 1 October 2023

107,683

435,053

168,805

7,049

718,590

Charge for year

14,782

17,622

8,886

1,244

42,534

At 30 September 2024

122,465

452,675

177,691

8,293

761,124

NET BOOK VALUE

At 30 September 2024

654,858

137,400

50,423

6,794

849,475

At 30 September 2023

669,640

80,734

59,309

8,038

817,721

Cost or valuation at 30 September 2024 is represented by:

Machinery

Fixtures

Land and

and

and

Computer

buildings

equipment

fittings

equipment

Totals

£

£

£

£

£

Valuation in 2006

455,826

-

-

-

455,826

Valuation in 2017

(290,000

)

-

-

-

(290,000

)

Cost

611,497

590,075

228,114

15,087

1,444,773

777,323

590,075

228,114

15,087

1,610,599

The revaluation in 2017 took place on 30 September 2017 and was performed by Robertson Simpson. The directors consider this valuation to be a true reflection of the current value of land & buildings.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Machinery

and

equipment

£

COST OR VALUATION

Additions

44,153

At 30 September 2024

44,153

DEPRECIATION

Charge for year

3,311

At 30 September 2024

3,311

NET BOOK VALUE

At 30 September 2024

40,842

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2023

and 30 September 2024

1

NET BOOK VALUE

At 30 September 2024

1

At 30 September 2023

1

The investment in the subsidiary represents 100% of the ordinary share capital held in Wearside Golf Club (Trading) Limited, which was incorporated in the year.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

235,059

219,436

Other debtors

18,280

22,032

253,339

241,468

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

6,263

-

Trade creditors

16,528

33,234

Taxation and social security

14,620

7,774

Other creditors

234,959

205,120

272,370

246,128

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

22,706

-

Other creditors

935

-

23,641

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase

28,969

-

10.	RELATED PARTY DISCLOSURES

Mr I Smith

A director of the company.

During the year I Smith paid rent of £4,284 (2023 - £3,900) to the Golf Club.

11.	MEMBERS' UNDERTAKING

The company is limited by guarantee in that every member undertakes to contribute such amounts as may be required in the event of the company being wound up, for the payments of debts and liabilities and for the costs of winding up, not exceeding £1.