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REGISTERED NUMBER: 05498604 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Porthpean Golf Club Limited

Porthpean Golf Club Limited (Registered number: 05498604)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Porthpean Golf Club Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: G G Rowett





REGISTERED OFFICE: Porthpean Golf Club
Porthpean
St Austell
Cornwall
PL26 6AY





REGISTERED NUMBER: 05498604 (England and Wales)

Porthpean Golf Club Limited (Registered number: 05498604)

Abridged Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 474,409 477,149
474,409 477,149

CURRENT ASSETS
Stocks 2,500 1,500
Debtors 3,795 4,657
Cash at bank and in hand 139,815 262,331
146,110 268,488
CREDITORS
Amounts falling due within one year 105,767 119,414
NET CURRENT ASSETS 40,343 149,074
TOTAL ASSETS LESS CURRENT
LIABILITIES

514,752

626,223

PROVISIONS FOR LIABILITIES 6,080 5,440
NET ASSETS 508,672 620,783

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 382,410 382,410
Retained earnings 126,162 238,273
508,672 620,783

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Porthpean Golf Club Limited (Registered number: 05498604)

Abridged Balance Sheet - continued
31 May 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 February 2025 and were signed by:





G G Rowett - Director


Porthpean Golf Club Limited (Registered number: 05498604)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Porthpean Golf Club Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost of freehold buildings
Plant and machinery etc - 25% on reducing balance and 25% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first in, first out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Porthpean Golf Club Limited (Registered number: 05498604)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 104,000
AMORTISATION
At 1 June 2023
and 31 May 2024 104,000
NET BOOK VALUE

At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 785,574
Additions 10,939
Disposals (625 )
At 31 May 2024 795,888
DEPRECIATION
At 1 June 2023 308,425
Charge for year 13,524
Eliminated on disposal (470 )
At 31 May 2024 321,479
NET BOOK VALUE
At 31 May 2024 474,409
At 31 May 2023 477,149