Company registration number 00114018 (England and Wales)
TYNESIDE GOLF CLUB LIMITED (THE)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
TYNESIDE GOLF CLUB LIMITED (THE)
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
TYNESIDE GOLF CLUB LIMITED (THE)
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
645,316
594,738
Investments
4
1
1
645,317
594,739
Current assets
Stocks
14,828
12,626
Debtors
5
171,937
150,195
Cash at bank and in hand
86,869
90,043
273,634
252,864
Creditors: amounts falling due within one year
6
(314,109)
(274,846)
Net current liabilities
(40,475)
(21,982)
Total assets less current liabilities
604,842
572,757
Creditors: amounts falling due after more than one year
7
(14,673)
(24,673)
Provisions for liabilities
(58,774)
(62,482)
Net assets
531,395
485,602
Reserves
Income and expenditure account
531,395
485,602
Members' funds
531,395
485,602
TYNESIDE GOLF CLUB LIMITED (THE)
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024
31 August 2024
- 2 -

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

For the financial year ended 31 August 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 G Smith
Mr EM Head
Director
Director
Company registration number 00114018 (England and Wales)
TYNESIDE GOLF CLUB LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information

Tyneside Golf Club Limited (The) is a private company limited by guarantee incorporated in England and Wales. The registered office is Westfield Lane, Ryton on Tyne, Tyne and Wear, England, NE40 3QE.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Expenses include VAT where applicable as the company cannot reclaim it.

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 and buildings
- not depreciated, Straight line over 25 years
Machinery
- Straight line over 5 years
Fixtures and fittings
- Straight line over 5 years
Course restoration
- Straight line over 7 - 14 years
Course water system
- Straight line over 20 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.4
Stocks

Stocks are valued at the lower of cost and net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

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.

TYNESIDE GOLF CLUB LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.7

Deferred capital grants

Deferred capital grants in respect of capital expenditure are treated as deferred income and credited to the revenue account over the estimated useful life of the assets to which they relate.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
15
14
3
Tangible fixed assets
Freehold property and buildings
Machinery
Fixtures and fittings
Course restoration
Course water system
Total
£
£
£
£
£
£
Cost
At 1 September 2023
466,405
460,217
17,733
201,140
152,062
1,297,557
Additions
65,939
46,792
7,994
13,781
-
0
134,506
At 31 August 2024
532,344
507,009
25,727
214,921
152,062
1,432,063
Depreciation and impairment
At 1 September 2023
137,692
334,454
3,294
97,434
129,945
702,819
Depreciation charged in the year
18,878
41,831
4,046
16,960
2,213
83,928
At 31 August 2024
156,570
376,285
7,340
114,394
132,158
786,747
Carrying amount
At 31 August 2024
375,774
130,724
18,387
100,527
19,904
645,316
At 31 August 2023
328,713
125,763
14,439
103,706
22,117
594,738
4
Fixed asset investments
2024
2023
£
£
Other investments
1
1
TYNESIDE GOLF CLUB LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
91,509
87,055
Other debtors
70,665
58,409
Prepayments and accrued income
9,763
4,731
171,937
150,195
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
11,160
11,160
Trade creditors
21,492
11,960
Taxation and social security
5,965
12,644
Other creditors
253,486
228,367
Accruals and deferred income
22,006
10,715
314,109
274,846
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
14,673
24,673
8
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

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