Company registration number 08904597 (England and Wales)
NATIONAL GOLF CLUBS' ADVISORY ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
NATIONAL GOLF CLUBS' ADVISORY ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
NATIONAL GOLF CLUBS' ADVISORY ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,456
4,362
Current assets
Debtors
4
3,002
2,097
Investments
5
86,920
86,279
Cash at bank and in hand
131,409
160,181
221,331
248,557
Creditors: amounts falling due within one year
6
(47,182)
(69,287)
Net current assets
174,149
179,270
Net assets
177,605
183,632
Reserves
Income and expenditure account
177,605
183,632
Members' funds
177,605
183,632
NATIONAL GOLF CLUBS' ADVISORY ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the board of directors and authorised for issue on 25 February 2025 and are signed on its behalf by:
A Smith
Director
Company registration number 08904597 (England and Wales)
NATIONAL GOLF CLUBS' ADVISORY ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

National Golf Clubs' Advisory Association Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 18, The Greenhouse Greencroft Industrial Park, Annfield Plain, Stanley, Co. Durham, DH9 7XN.

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.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
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:

Fixtures, fittings & equipment
20-25% reducing balance

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.

1.5
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.

NATIONAL GOLF CLUBS' ADVISORY ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price.

1.6
Taxation

The company is subject to corporation tax on investment income only, it being a company not carrying on a business for the purposes of making a profit.

1.7
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 leases asset are consumed.

2
Employees

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

2024
2023
Number
Number
Total
4
4
NATIONAL GOLF CLUBS' ADVISORY ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 October 2023
8,290
Additions
192
At 30 September 2024
8,482
Depreciation and impairment
At 1 October 2023
3,928
Depreciation charged in the year
1,098
At 30 September 2024
5,026
Carrying amount
At 30 September 2024
3,456
At 30 September 2023
4,362
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
3,002
2,097
5
Current asset investments
2024
2023
£
£
Other investments
86,920
86,279
NATIONAL GOLF CLUBS' ADVISORY ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
650
350
Other taxation and social security
11,783
38,962
Subscriptions in advance
30,275
27,720
Other creditors
1,991
-
0
Accruals
2,483
2,255
47,182
69,287
7
Members' liability

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

8
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
£
£
8,458
17,007
9
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Loan to Director
-
-
916
916
-
916
916

Amounts owed by the directors at the year end is included within other debtors.

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