1.
General Information
Cliftonville Golf Club, Limited
is a private company, limited by shares, incorporated in Northern Ireland, registered number
NI000062
. The registered office is 44 Westland Road, Belfast, BT14 6NH.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are presented in sterling, which is the functional currency of the club. Monetary amounts in the financial statements are rounded to the nearest £.
2.2.
Going Concern Disclosure
The directors carefully monitor cashflow projections which currently show that the club remains cash positive for at least 12 months from the date of approval of these financial statements. In addition, the Club has accepted a verbal offer of £200k from the Diocese of Down & Connor for an acre of land, this will allow the club to repay the VAT backlog and increase working capital. Thereafter, the Friends of Cliftonville Ltd have agreed that current repayments going to HMRC for the VAT backlog can be used to repay their outstanding loan.
Therefore, at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:
Sale of goods
Turnover from bar sales, gaming machines, juke box and pool table is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the club and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on cash receipt.
Membership fees
Revenue recognition depends on the nature of the services provided. If the fee permits only
membership, and all other services or products are paid for separately, or if there is a separate annual
subscription, the fee is recognised as revenue when no significant uncertainty about its collectability
exists. If the fee entitles the member to services or publications to be provided during the membership
period, or to purchase goods or services at prices lower than those charged to non-members, it is
recognised on a basis that reflects the timing, nature and value of the benefits provided.
Interest and dividends receivable
Interest income is recognised using the effective interest method and dividend income is recognised as the club's right to receive payment is established.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
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| Plant & Machinery |
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| Fixtures & Fittings |
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Cliftonville Golf Club, Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.5.
Leasing and Hire Purchase Contracts
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.
Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease.
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
2.6.
Stocks and Work in Progress
Stocks are stated at the lower of costs 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
2.7.
Taxation
The tax expense for the period compromises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
2.8.
Pensions
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
2.9.
Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
2.10.
Provisions
Provisions are recognised when the club has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Cliftonville Golf Club, Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.11.
Loans and borrowings (including brewery loans)
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2024: 13)
4.
Tangible Assets
| Land & Property | ||||
|---|---|---|---|---|
| Freehold | Plant & Machinery | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 January 2025 |
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| Additions |
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| As at 31 December 2025 |
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| Depreciation | ||||
| As at 1 January 2025 |
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| Provided during the period |
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| As at 31 December 2025 |
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| Net Book Value | ||||
| As at 31 December 2025 |
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| As at 1 January 2025 |
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5.
Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
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6.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors | 13,653 | 16,748 | |
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Cliftonville Golf Club, Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
7.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Other creditors | 250,833 | 268,825 | |
| Taxation and social security |
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Bank loans totalling £11,928 (2024 - £5,424) are secured by a legal mortgage over land and buildings and fixed and floating charges over other company assets.
8.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
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| Other loans |
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| Other creditors | 29,748 | 28,571 | |
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Bank loans totalling £19,232 (2024 - £25,841) are secured by a legal mortgage over land and buildings and fixed and floating charges over other company assets.
The value payable by instalments after more than five years from the balance sheet date is £nil (2024 - £2,232).
9.
Related Party Transactions
During the year, a company named Friends of Cliftonville Limited was incorporated by certain members and directors of the Club for the purpose of providing loan funding to the Club. The company has advanced loans to the Club on normal commercial terms, including the charging of interest at 5% per annum. At year end, the balance outstanding on these loans was £108,800. Interest incurred and charged during the year amounted to £nil. The loans are secured against the golf course land.
10.
FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
11.
Audit remunerations
|
2025
|
2024
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||
|
£
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£
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||
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Fees payable for the audit of the financial statements
|
3,000
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3,000
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12.
Audit Information
The auditor's report on the accounts of
Cliftonville Golf Club, Limited
for the year ended 31 December 2025 was unqualified.
The auditor's report was signed by
Brian Stewart
(Senior Statutory Auditor)
for and on behalf of
RBCA Limited
, Statutory Auditor.