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COMPANY REGISTRATION NUMBER: 00182098
MORECAMBE GOLF CLUB LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2024
MORECAMBE GOLF CLUB LIMITED
BALANCE SHEET
31 December 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
5
526,401
575,422
CURRENT ASSETS
Stocks
17,925
18,461
Debtors
6
23,716
24,284
Cash at bank and in hand
274,181
204,069
--------
--------
315,822
246,814
CREDITORS: amounts falling due within one year
7
199,249
184,890
--------
--------
NET CURRENT ASSETS
116,573
61,924
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
642,974
637,346
--------
--------
NET ASSETS
642,974
637,346
--------
--------
CAPITAL AND RESERVES
Called up share capital
7,021
7,021
Profit and loss account
635,953
630,325
--------
--------
SHAREHOLDERS FUNDS
642,974
637,346
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31st December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 February 2025 , and are signed on behalf of the board by:
Mr J Gillow (President, Acting Treasurer)
Mr D Huntington (Captain)
Director
Director
Company registration number: 00182098
MORECAMBE GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Club House, Happy Mount, Morecambe, LA4 6AJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property and course equipment
-
Leasehold property 3%, course improvements over 10 years
Course plant and equipment
-
Course machinery over 10 years, golf buggies over 5 years
Clubhouse fixtures and fittings
-
Clubhouse fixtures over 10 years, computer equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employees
The average number of persons employed by the company during the year amounted to 30 (2023: 31 ).
5. Tangible assets
Leasehold Property and Course Improvements
Course Plant and Equipment
Clubhouse Fixtures and Fittings
Total
£
£
£
£
Cost
At 1st January 2024
987,235
540,983
287,611
1,815,829
Additions
5,482
16,078
21,560
--------
--------
--------
----------
At 31st December 2024
987,235
546,465
303,689
1,837,389
--------
--------
--------
----------
Depreciation
At 1st January 2024
667,899
343,134
229,374
1,240,407
Charge for the year
19,914
36,059
14,608
70,581
--------
--------
--------
----------
At 31st December 2024
687,813
379,193
243,982
1,310,988
--------
--------
--------
----------
Carrying amount
At 31st December 2024
299,422
167,272
59,707
526,401
--------
--------
--------
----------
At 31st December 2023
319,336
197,849
58,237
575,422
--------
--------
--------
----------
6. Debtors
2024
2023
£
£
Prepayments and accrued income
22,016
20,322
Other debtors
1,700
3,962
-------
-------
23,716
24,284
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
31,444
31,238
Accruals and deferred income
18,127
17,848
Corporation tax
1,098
Social security and other taxes
27,654
18,102
Subscriptions in advance
90,235
86,994
Other creditors
30,691
30,708
--------
--------
199,249
184,890
--------
--------
8. Leasehold land
The lease expires on the 18th March 2242.
9. Capital commitments
At 31st December 2024 there were capital commitments of £0 excluding VAT (2023 - £0).
10. Ultimate controlling party
Ultimate control of the company lies with the members.