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Registration number: 08166406

Cheshire Golf Limited
(formerly The Cheshire Union of Golf Clubs Limited)

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Cheshire Golf Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Cheshire Golf Limited

Company Information

Chairman

Mr C W McCurdy

Directors

Mr D A Kimpton

Mr M De Vos

Ms C Hornsby

Ms T McGregor

Mr S M Neil

Mr J Sims

Ms J C Payne

Company secretary

Mr S J Doughty

Registered office

1 - 3 Chester Road
Neston
Cheshire
CH64 9PA

Accountants

Phillip Bates and Co Limited
Chartered Accountants
1 - 3 Chester Road
Neston
Cheshire
CH64 9PA

 

Cheshire Golf Limited

(Registration number: 08166406)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

94,030

1,893

Current assets

 

Stocks

6

2,000

7,534

Debtors

7

36,858

6,484

Other financial assets

5

23,713

22,967

Cash at bank and in hand

 

358,188

235,565

 

420,759

272,550

Creditors: Amounts falling due within one year

8

(98,619)

(43,066)

Net current assets

 

322,140

229,484

Net assets

 

416,170

231,377

Reserves

 

Revaluation reserve

87,532

3,686

Retained earnings

328,638

227,691

Surplus

 

416,170

231,377

For the financial year ending 31 October 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.

Approved and authorised by the Board on 5 December 2024 and signed on its behalf by:
 

.........................................
Mr D A Kimpton
Director

 

Cheshire Golf Limited

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

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The company was formerly known as The Cheshire Union of Golf Clubs Limited.

The address of its registered office is:
1 - 3 Chester Road
Neston
Cheshire
CH64 9PA
England

These financial statements were authorised for issue by the Board on 5 December 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.

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 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.

Income from affiliation fees is recognised when a return has been received by a club and included on the English Golf return.

Tax

The company is a mutual trading entity. Corporation tax is chargeable on investment income only.

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.

 

Cheshire Golf Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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

Fixtures and fittings

20% straight line

Trophies

2% Straight line basis

Computer equipment

33% straight line

Investments

Investments are stated at valuation.

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Cheshire Golf Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors with service contracts) during the year, was 2 (2023 - 2).

4

Tangible assets

Fixtures and fittings
£

Trophies
£

Computer equipment
£

Total
£

Cost or valuation

At 1 November 2023

7,604

-

3,006

10,610

Revaluations

-

83,100

-

83,100

Additions

-

9,500

-

9,500

At 31 October 2024

7,604

92,600

3,006

103,210

Depreciation

At 1 November 2023

5,721

-

2,996

8,717

Charge for the year

463

-

-

463

At 31 October 2024

6,184

-

2,996

9,180

Carrying amount

At 31 October 2024

1,420

92,600

10

94,030

At 31 October 2023

1,883

-

10

1,893

Revaluation

The fair value of the company's Trophies was revalued on 12 June 2024 by an independent valuer . The name and qualification of the independent valuer are CM Palmer, Sporting Antiques Advisors.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £Nil (2023 - £Nil). The cost of the trophies was written off to the profit and loss account and therefore there is no record of the historical cost.

 

Cheshire Golf Limited

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

5

Other financial assets (current and non-current)

Listed investments
£

Total
£

Cost or valuation

At 1 November 2023

22,967

22,967

Revaluations

746

746

At 31 October 2024

23,713

23,713

Carrying amount

At 31 October 2024

23,713

23,713

6

Stocks

2024
£

2023
£

Other inventories

2,000

7,534

7

Debtors

Current

2024
£

2023
£

Other debtors

36,858

6,484

 

36,858

6,484

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,254

353

Accruals and deferred income

5,107

3,600

Other creditors

92,258

39,113

98,619

43,066

 

Cheshire Golf Limited

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

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/(deficit) on revaluation of other assets

83,846

83,846

Tangible assets
2024
£

Investments
2024
£

Amount of revaluation for the year

83,100

746

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/(deficit) on revaluation of other assets

169

169

10

Related party transactions

Summary of transactions with other related parties

Cheshire County Ladies Golf Association Limited. Company number: 11607067
 

On 23rd September 2024 Cheshire County Ladies Golf Association Limited merged with Cheshire Golf Limited and assets totalling £71,423 were introduced into the company. Assets acquired were Cash £61,923 and Trophies formally valued by CM Palmer, Sporting Antiques Advisors at £9,500.