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Registration number: 08836887

Bury Golf Club Limited
Annual Report and
Unaudited Financial Statements

30 November 2024

 

Bury Golf Club Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

Bury Golf Club Limited

Balance Sheet
30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

274,197

298,748

Current assets

 

Stocks

5

2,794

5,077

Debtors

6

9,425

20,413

Cash at bank and in hand

 

21,549

21,614

 

33,768

47,104

Creditors: Amounts falling due within one year

7

(71,435)

(63,889)

Net current liabilities

 

(37,667)

(16,785)

Total assets less current liabilities

 

236,530

281,963

Creditors: Amounts falling due after more than one year

7

(27,923)

(53,754)

Net assets

 

208,607

228,209

Reserves

 

Retained earnings

208,607

228,209

Surplus

 

208,607

228,209

 

Bury Golf Club Limited

Balance Sheet
30 November 2024

For the financial year ending 30 November 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 February 2025 and signed on its behalf by:
 

.........................................

I G McGloughlin - Finance director

Director

Company Registration Number: 08836887

 

Bury Golf Club Limited

Notes to the Financial Statements
Year Ended 30 November 2024

1

General information

The Company is a company limited by guarantee, incorporated in England, 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 address of its registered office is:
Unsworth Hall
Manchester Road
Bury
Greater Manchester
BL9 9TJ

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.

Going concern

The Board are required to prepare the statutory financial statements on the going concern basis unless it is inappropriate to presume that the Golf Club will continue in business.

In satisfaction of this responsibility the Board have undertaken a full review of its overhead costs and cashflow forecasts for the next 12 months and have considered that the Golf Club is in a position to meet its liabilities as they fall due for this period.

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 sales/value added tax, 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.

 

Bury Golf Club Limited

Notes to the Financial Statements
Year Ended 30 November 2024

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

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

Course Machinery

15% Reducing Balance

Clubhouse

2% Reducing Balance

Lambs Lodge and Outbuildings

5% Reducing Balance

Fixtures and Fittings

20% Reducing Balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost is determined using the first-in, first-out (FIFO) method.

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.

 

Bury Golf Club Limited

Notes to the Financial Statements
Year Ended 30 November 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 15 (2023 - 16).

 

Bury Golf Club Limited

Notes to the Financial Statements
Year Ended 30 November 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2023

268,205

62,326

302,320

632,851

Additions

2,087

3,619

5,762

11,468

At 30 November 2024

270,292

65,945

308,082

644,319

Depreciation

At 1 December 2023

57,673

51,023

225,407

334,103

Charge for the year

7,498

2,863

25,658

36,019

At 30 November 2024

65,171

53,886

251,065

370,122

Carrying amount

At 30 November 2024

205,121

12,059

57,017

274,197

At 30 November 2023

210,532

11,303

76,913

298,748

Included within the net book value of land and buildings above is £205,121 (2023 - £210,532) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

2,794

5,077

6

Debtors

Current

2024
£

2023
£

Trade Debtors

-

3,653

Prepayments

7,970

6,760

Other debtors

1,455

10,000

 

9,425

20,413

 

Bury Golf Club Limited

Notes to the Financial Statements
Year Ended 30 November 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

26,268

28,881

Trade creditors

 

5,786

12,395

Social security and other taxes

 

18,614

8,645

Other payables

 

13,628

12,237

Accruals

 

7,139

1,731

 

71,435

63,889

Due after one year

 

Loans and borrowings

27,923

53,754

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

27,923

53,754