Company registration number 00729888 (England and Wales)
BOURNEBRIDGE GOLF CLUB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
BOURNEBRIDGE GOLF CLUB LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
BOURNEBRIDGE GOLF CLUB LIMITED
COMPANY INFORMATION
- 1 -
Directors
Ms. C Clayton
Mr. L Witham
Secretary
Ms. C Clayton
Company number
00729888
Registered office
West Berkshire Golf Course
Chaddleworth
Newbury
Berkshire
United Kingdom
RG20 7DU
Accountants
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
BOURNEBRIDGE GOLF CLUB LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,566,568
1,577,555
Current assets
Stocks
36,824
32,909
Creditors: amounts falling due within one year
4
(427,370)
(443,571)
Net current liabilities
(390,546)
(410,662)
Total assets less current liabilities
1,176,022
1,166,893
Provisions for liabilities
(3,257)
(3,506)
Net assets
1,172,765
1,163,387
Capital and reserves
Called up share capital
5
100,000
100,000
Fair value reserve
927,466
927,466
Profit and loss reserves
145,299
135,921
Total equity
1,172,765
1,163,387
BOURNEBRIDGE GOLF CLUB LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024
31 May 2024
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 21 January 2025 and are signed on its behalf by:
Mr. L Witham
Director
Company Registration No. 00729888
The notes on pages 4 to 7 form part of these financial statements
BOURNEBRIDGE GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
1
Accounting policies
Company information
Bournebridge Golf Club Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Berkshire Golf Course, Chaddleworth, Newbury, Berkshire, United Kingdom, RG20 7DU.
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 pound.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold property
2% straight line
Freehold land
No depreciation
Improvements to property
4% straight line
Fixtures & fittings
20%/33% reducing balance
Course equipment
25% reducing balance
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price.
1.5
Cash at bank and in hand
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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
BOURNEBRIDGE GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 5 -
1.6
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 balance sheet 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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
BOURNEBRIDGE GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
2
Employees
2024
2023
Number
Number
Total
13
12
3
Tangible fixed assets
Freehold property
Fixtures & fittings
Course equipment
Improvements to property
Total
£
£
£
£
£
Cost
At 1 June 2023 and 31 May 2024
1,621,122
118,763
191,015
74,965
2,005,865
Depreciation and impairment
At 1 June 2023
87,544
115,053
163,968
61,745
428,310
Depreciation charged in the year
2,851
1,196
3,941
2,999
10,987
At 31 May 2024
90,395
116,249
167,909
64,744
439,297
Carrying amount
At 31 May 2024
1,530,727
2,514
23,106
10,221
1,566,568
At 31 May 2023
1,533,578
3,710
27,047
13,220
1,577,555
BOURNEBRIDGE GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank overdraft
97,680
113,652
Trade creditors
9,541
9,707
Other taxation and social security
29,725
23,893
Other creditors
276,928
274,319
Accruals and deferred income
13,496
22,000
427,370
443,571
The following liabilities disclosed under creditors falling due within one year are secured:
2024
2023
£
£
Bank loans and overdrafts
97,680
113,652
97,680
113,652
The bank loans and overdrafts are secured by fixed and floating charges against the assets of the company.
5
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100,000 Ordinary shares of £1 each
100,000
100,000