REGISTERED NUMBER: 02736294 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

The Morpeth Golf Club Limited

Page

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

I J Belsham

S Jemmett

B Maxted

D Bailey

J A Kincaid

S J Welsh

G R Rutherford

I Kayll

REGISTERED OFFICE:

The Clubhouse

Loansdean

Morpeth

Northumberland

NE61 2BT

REGISTERED NUMBER:

02736294 (England and Wales)

ACCOUNTANTS:

Thornton Accountancy Ltd

87 Station Road

Ashington

Northumberland

NE63 8RS

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Morpeth Golf Club Limited for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of The Morpeth Golf Club Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Morpeth Golf Club Limited and state those matters that we have agreed to state to the Board of Directors of The Morpeth Golf Club Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Morpeth Golf Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Morpeth Golf Club Limited. You consider that The Morpeth Golf Club Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Morpeth Golf Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Thornton Accountancy Ltd

87 Station Road

Ashington

Northumberland

NE63 8RS

22 October 2205

FIXED ASSETS

Tangible assets

4

778,499

796,222

CURRENT ASSETS

Stocks

5

20,183

14,876

Debtors

6

308,913

393,727

Cash at bank and in hand

61,626

58,367

390,722

466,970

CREDITORS

Amounts falling due within one year

7

608,245

634,522

NET CURRENT LIABILITIES

(217,523

)

(167,552

)

TOTAL ASSETS LESS CURRENT LIABILITIES

560,976

628,670

CREDITORS

Amounts falling due after more than one year

8

324,234

345,142

NET ASSETS

236,742

283,528

RESERVES

Other reserves

60,626

60,626

Income and expenditure account

176,116

222,902

236,742

283,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 22 October 2205 and were signed on its behalf by:

B Maxted - Director

1.	STATUTORY INFORMATION

The Morpeth Golf Club Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover represents income from members and temporary members, attributable to subscriptions, bar and buffet sales, machine takings and other associated golfing activities, stated net of Value Added Tax. Member's subscriptions are in respect to the playing year to 31 March 2025.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

Amortisation is not provided.

Plant and machinery

-

33%Straight Line

Fixtures and fittings

-

10% on cost per annum

Motor vehicles

-

20% on reducing balance per annum

Course & buildings

-

5% on reducing balance per annum

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.

Hire purchase and leasing commitments

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

Trade and other debtors

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently amortised cost, net of impairment.

Trade and other creditors

Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised costs using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2024 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2024

and 31 March 2025

524,010

73,654

41,259

DEPRECIATION

At 1 April 2024

-

58,189

39,356

Charge for year

-

3,101

382

At 31 March 2025

-

61,290

39,738

NET BOOK VALUE

At 31 March 2025

524,010

12,364

1,521

At 31 March 2024

524,010

15,465

1,903

Motor

Course &

vehicles

buildings

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

53,427

640,365

1,332,715

DEPRECIATION

At 1 April 2024

51,528

387,420

536,493

Charge for year

1,602

12,638

17,723

At 31 March 2025

53,130

400,058

554,216

NET BOOK VALUE

At 31 March 2025

297

240,307

778,499

At 31 March 2024

1,899

252,945

796,222

5.

STOCKS

2025

2024

£

£

Stocks

20,183

14,876

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

290,017

355,392

Prepayments

18,896

38,335

308,913

393,727

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

36,330

36,330

Trade creditors

55,922

50,163

Social security and other taxes

17,192

8,938

VAT

15,017

7,954

Other creditors

444,481

508,041

Accrued expenses

39,303

23,096

608,245

634,522

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-13 years

318,256

334,700

Deferred government grants

5,978

10,442

324,234

345,142