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REGISTERED NUMBER: NI010660 (Northern Ireland)














Financial Statements

for the Year Ended

31 December 2024

for

St Patrick's Golf Club, Downpatrick Ltd.

St Patrick's Golf Club, Downpatrick Ltd. (Registered number: NI010660)

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










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


St Patrick's Golf Club, Downpatrick Ltd.

Company Information
for the Year Ended 31 December 2024







DIRECTORS: L Craig
J Mageean
J Torney
R McCormick
M Murphy
R Gelston
A Killen
R Kirkpatrick
A McKelvey
P Smyth
Mrs A Teggart





SECRETARY: J Torney





REGISTERED OFFICE: The Secretary
43 Saul Road
Downpatrick
Co. Down
BT30 6PA





REGISTERED NUMBER: NI010660 (Northern Ireland)





AUDITORS: M.B.Mc Grady & Co
Chartered Accountants
Statutory Auditors
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS

St Patrick's Golf Club, Downpatrick Ltd. (Registered number: NI010660)

Abridged Balance Sheet
31 December 2024

31/12/24 31/12/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 990,364 927,382

CURRENT ASSETS
Stocks 8,647 9,212
Debtors 17,181 8,774
Cash at bank and in hand 105,569 94,866
131,397 112,852
CREDITORS
Amounts falling due within one year 230,464 159,381
NET CURRENT LIABILITIES (99,067 ) (46,529 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

891,297

880,853

CREDITORS
Amounts falling due after more than one
year

198,100

159,485
NET ASSETS 693,197 721,368

RESERVES
Income and expenditure account 693,197 721,368
693,197 721,368

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 Balance Sheet for the year ended 31 December 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 Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by:




J Torney - Director



R McCormick - Director


St Patrick's Golf Club, Downpatrick Ltd. (Registered number: NI010660)

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


1. STATUTORY INFORMATION

St Patrick's Golf Club, Downpatrick Ltd. is a private company, limited by guarantee , registered in Northern Ireland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

St Patrick's Golf Club, Downpatrick Ltd. (Registered number: NI010660)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024 1,964,625
Additions 89,784
Disposals (15,250 )
At 31 December 2024 2,039,159
DEPRECIATION
At 1 January 2024 1,037,243
Charge for year 24,709
Eliminated on disposal (13,157 )
At 31 December 2024 1,048,795
NET BOOK VALUE
At 31 December 2024 990,364
At 31 December 2023 927,382

St Patrick's Golf Club, Downpatrick Ltd. (Registered number: NI010660)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2024 46,343
Additions 48,034
At 31 December 2024 94,377
DEPRECIATION
At 1 January 2024 26,793
Charge for year 4,889
At 31 December 2024 31,682
NET BOOK VALUE
At 31 December 2024 62,695
At 31 December 2023 19,550

5. SECURED DEBTS

The following secured debts are included within creditors:

31/12/24 31/12/23
£    £   
Bank loans 134,942 161,779

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Conaill McGrady (Senior Statutory Auditor)
for and on behalf of M.B.Mc Grady & Co