Company registration number 00163229 (England and Wales)
WEST WILTS GOLF CLUB LIMITED (THE)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
WEST WILTS GOLF CLUB LIMITED (THE)
COMPANY INFORMATION
Directors
J Agate
K Harrild
(Appointed 29 February 2024)
J Hibbs
E Hiscock
Mrs J Hiscock
D Pinnell
M Rice
(Appointed 29 February 2024)
R Robson
J Vincent
Secretary
L J Wilkin
Company number
00163229
Registered office
Elm Hill
Warminster
Wiltshire
BA12 0AU
Accountants
Pearson May
5 Wicker Hill
Trowbridge
Wiltshire
BA14 8JS
WEST WILTS GOLF CLUB LIMITED (THE)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
WEST WILTS GOLF CLUB LIMITED (THE)
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
859,853
710,268
Current assets
Stocks
9,078
7,707
Debtors
4
8,435
10,675
Cash at bank and in hand
154,163
243,298
171,676
261,680
Creditors: amounts falling due within one year
5
(106,454)
(106,188)
Net current assets
65,222
155,492
Net assets
925,075
865,760
Reserves
Other reserves
328,778
328,778
Income and expenditure account
596,297
536,982
Members' funds
925,075
865,760

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 30 September 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 17 December 2024 and are signed on its behalf by:
Mrs J Hiscock
Chair of the Board
Company registration number 00163229 (England and Wales)
WEST WILTS GOLF CLUB LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

West Wilts Golf Club Limited (The) is a private company limited by guarantee incorporated in England and Wales. The registered office is Elm Hill, Warminster, Wiltshire, BA12 0AU.

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, modified to include the revaluation of Club trophies 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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Bar and catering sales are recognised at the point cash is tendered.

 

Golf fee subscription income is recognised in the period to which it relates. Where payments are received from customers in advance of services provided the amounts are recorded as deferred income and included within creditors due within one year.

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 land and buildings
5% and 2% straight line
Plant and equipment
20% reducing balance/5% straight line
Fixtures and fittings/Club trophies
15% reducing balance/N/A
Computers
25% straight line

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 stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

WEST WILTS GOLF CLUB LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
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.

 

The company is a mutual trading organisation and is liable to taxation on rental income, feed in tariff income and investment income only.

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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Leases

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 leased asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.7
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

WEST WILTS GOLF CLUB LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
2
Employees

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

2024
2023
Number
Number
Total
23 (9)
22 (8)
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings/Club trophies
Computers
Total
£
£
£
£
£
Cost
At 1 October 2023
709,304
400,633
289,281
35,610
1,434,828
Additions
-
0
173,343
49,572
1,585
224,500
Disposals
-
0
(5,336)
(1,378)
(33)
(6,747)
At 30 September 2024
709,304
568,640
337,475
37,162
1,652,581
Depreciation and impairment
At 1 October 2023
190,925
313,993
184,823
34,819
724,560
Depreciation charged in the year
10,060
50,116
12,714
851
73,741
Eliminated in respect of disposals
-
0
(4,441)
(1,107)
(25)
(5,573)
At 30 September 2024
200,985
359,668
196,430
35,645
792,728
Carrying amount
At 30 September 2024
508,319
208,972
141,045
1,517
859,853
At 30 September 2023
518,379
86,640
104,458
791
710,268

The Board continue to review the Club's tangible fixed assets and the Accounts reflect the results of such reviews.

 

Fixtures and fittings includes Club trophies as per the 2012 valuation.

4
Debtors: amounts falling due within one year
2024
2023
£
£
Other debtors
239
2,853
Prepayments and accrued income
8,196
7,822
8,435
10,675
WEST WILTS GOLF CLUB LIMITED (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
11,663
14,124
Corporation tax
4,191
4,361
Other taxation and social security
14,741
16,809
Accruals and deferred income
75,859
70,894
106,454
106,188
6
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 £2.

7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Within one year
58,922
9,470
58,922
9,470
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