Registered number
00218955
Langland Bay Golf Club Limited
Filleted Accounts
30 September 2024
Cross & Bowen
Chartered Certified Accountants
Riverside House
Normandy Road
Swansea
SA1 2JA
Langland Bay Golf Club Limited
Registered number: 00218955
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 893,931 920,142
Current assets
Stocks 6,267 5,924
Debtors 4 16,776 22,270
Cash at bank and in hand 315,373 322,056
338,416 350,250
Creditors: amounts falling due within one year 5 (258,064) (241,430)
Net current assets 80,352 108,820
Total assets less current liabilities 974,283 1,028,962
Creditors: amounts falling due after more than one year 6 (10,171) (20,678)
Deferred income 7 (14,035) (21,235)
Net assets 950,077 987,049
Capital and reserves
Called up share capital 34 34
Profit and loss account 870,649 907,621
Other reserves 8 79,394 79,394
Shareholders' funds 950,077 987,049
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H.C. Henson
Director
Approved by the board on 31 March 2025
Langland Bay Golf Club Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold Property 2%
Clubhouse Alterations 5%
Course Extension 5%
Automatic Sprinkler 5%
Course Equipment 10%
Furniture and clubhouse equipment 10%
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 18 17
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 1,230,504 423,480 200,435 1,854,419
At 30 September 2024 1,230,504 423,480 200,435 1,854,419
Depreciation
At 1 October 2023 413,601 343,733 176,943 934,277
Charge for the year 2,901 17,561 5,749 26,211
At 30 September 2024 416,502 361,294 182,692 960,488
Net book value
At 30 September 2024 814,002 62,186 17,743 893,931
At 30 September 2023 816,903 79,747 23,492 920,142
4 Debtors 2024 2023
£ £
Other debtors 16,776 22,270
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 11,396 47,300
Trade creditors 18,969 31,973
Taxation and social security costs 25,685 16,296
Other creditors 202,014 145,861
258,064 241,430
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,171 20,678
7 Deferred income 2024 2023
£ £
Deferred Income Life Members 21,235 28,435
Deferred Income Life members:Tfr P&L (7,200) (7,200)
14,035 21,235
8 Other reserves 2024 2023
£ £
General Reserve 79,394 79,394
79,394 79,394
9 Other information
Langland Bay Golf Club Limited is a private company limited by shares and incorporated in England. Its registered office is:
Langland Bay Golf Club House
Langland Bay
Swansea
SA3 4QR
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