Grove Golf Club Limited - Accounts to registrar (filleted) - small 18.2

Grove Golf Club Limited - Accounts to registrar (filleted) - small 18.2

GROVE GOLF CLUB LIMITED - Company Information

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REGISTERED NUMBER: 03158767 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

GROVE GOLF CLUB LIMITED
GROVE GOLF CLUB LIMITED (REGISTERED NUMBER: 03158767)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GROVE GOLF CLUB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2018







DIRECTORS: M I Thomas
N Pounder
K D Jones
A J Williams





SECRETARY: M I Thomas





REGISTERED OFFICE: South Cornelly
Porthcawl
Bridgend
CF33 4RP





REGISTERED NUMBER: 03158767 (England and Wales)





ACCOUNTANTS: Graham Paul Limited
Court House
Court Road
Bridgend
CF31 1BE
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GROVE GOLF CLUB LIMITED (REGISTERED NUMBER: 03158767)

BALANCE SHEET
28 FEBRUARY 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 163,964 157,960

CURRENT ASSETS
Stocks 12,095 15,092
Debtors 5 21,275 38,960
Cash at bank and in hand 90,325 11,628
123,695 65,680
CREDITORS
Amounts falling due within one year 6 460,337 462,687
NET CURRENT LIABILITIES (336,642 ) (397,007 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(172,678
)
(239,047
)

PROVISIONS FOR LIABILITIES 10,988 -
NET LIABILITIES (183,666 ) (239,047 )

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings (233,666 ) (289,047 )
SHAREHOLDERS' FUNDS (183,666 ) (239,047 )

The notes form part of these financial statements

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GROVE GOLF CLUB LIMITED (REGISTERED NUMBER: 03158767)

BALANCE SHEET - continued
28 FEBRUARY 2018


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 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 profit or loss 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 21 February 2019 and were signed on
its behalf by:





N Pounder - Director


The notes form part of these financial statements

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GROVE GOLF CLUB LIMITED (REGISTERED NUMBER: 03158767)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018


1. STATUTORY INFORMATION

Grove Golf Club Limited is a private company, limited by shares , 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. This basis is deemed
appropriate due to the continuing financial support of the parent company Elete Design Limited.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for services provided
in the year, excluding discounts, rebates, value added tax any any other relevant and appropriate sales
taxes.

Income is recognised when the services have been provided and the right to consideration earned with
memberships received in advance being deferred at the balance sheet date and released in the period
they relate to.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and 2% on cost

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.


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GROVE GOLF CLUB LIMITED (REGISTERED NUMBER: 03158767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2018


2. ACCOUNTING POLICIES - continued
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 profit or loss 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 (2017 - 26 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2017 91,210 531,802 623,012
Additions 13,767 16,300 30,067
At 28 February 2018 104,977 548,102 653,079
DEPRECIATION
At 1 March 2017 6,419 458,633 465,052
Charge for year 2,098 21,965 24,063
At 28 February 2018 8,517 480,598 489,115
NET BOOK VALUE
At 28 February 2018 96,460 67,504 163,964
At 28 February 2017 84,791 73,169 157,960

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 15,703 23,253
Other debtors 5,572 15,707
21,275 38,960

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GROVE GOLF CLUB LIMITED (REGISTERED NUMBER: 03158767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2018


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 34,591 70,792
Amounts owed to group undertakings 42,663 41,910
Taxation and social security 31,765 35,433
Other creditors 351,318 314,552
460,337 462,687

7. CONTINGENT LIABILITIES

Due to an historic pension issue, the company may have a liability with regards unpaid contributions
due. The best estimate at the time of the accounts was around £2,700 but no provision has been
made in the accounts.

8. RELATED PARTY DISCLOSURES

During the current and previous year, the company was in receipt of an interest free loan from one of
its directors. The amount outstanding and due to the director at the year end was £42,000 (2017 -
£38,000)

9. PRIOR YEAR ADJUSTMENT

In the previous year, accruals and deferred income of £30,890 per the balance sheet was incorrectly
treated as long term liabilities and have been reclassified as other creditors falling due within one year.
The comparatives have been amended accordingly but the adjustment has had no impact on the
reported results or the reserves for the year.

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