Hersham Golf Club Limited - Accounts to registrar (filleted) - small 18.2
Hersham Golf Club Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| HERSHAM GOLF CLUB LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2018 |
| HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 June 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 9 |
| HERSHAM GOLF CLUB LIMITED |
| COMPANY INFORMATION |
| for the year ended 30 June 2018 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| Walton-on-Thames |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Albury Mill |
| Mill Lane |
| Chilworth |
| Guildford |
| Surrey |
| GU4 8RU |
| HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081) |
| BALANCE SHEET |
| 30 June 2018 |
| 2018 | 2017 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his 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. |
| HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081) |
| BALANCE SHEET - continued |
| 30 June 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director on |
| HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 June 2018 |
| 1. | STATUTORY INFORMATION |
| Hersham Golf Club Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis. The ultimate parent company has confirmed |
| that it will provide financial support if required. |
| Turnover |
| Turnover is recognised when revenue and associated costs can be measured reliably and future economic benefits |
| are probable. Revenue represents fair consideration received for the sales of goods and services in the normal |
| course of business, excluding value added tax. |
| Goodwill |
| Goodwill is the amount paid in connection with the acquisition of the golf club business in 2009 and is amortised |
| over its useful life. Impairment reviews are carried out, with a provision being made where there is evidence of a |
| permanent diminution in value. The Goodwill in the accounts is fully impaired. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less |
| any accumulated amortisation and any accumulated impairment losses. |
| Computer software is being amortised evenly over its estimated useful life of 5 years. |
| 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 | - 20% on cost |
| Fixtures and fittings | - 15% on cost |
| Computer equipment | - 25% reducing balance |
| Tangible fixed assets are stated at their historic cost price less accumulated depreciation. Historical cost includes |
| expenditure that is directly attributable to bringing the asset to the location and condition necessary for use. The |
| asset's residual values, useful lives and depreciation methods are reviewed if there is an indication of significant |
| change since the last reporting date. |
| On disposal the difference between the net proceeds and carrying amount of the item sold is recognised in the |
| profit and loss account, and included in administrative expenses. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Current tax is the amount of corporation tax payable in respect of taxable profit for the year or prior years. Tax is |
| calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the year end. |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay |
| less tax in the future have occurred at the balance sheet date. Timing differences are differences between the |
| company's taxable profits and its results as stated in the financial statements. |
| Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing |
| differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by |
| the balance sheet date. Deferred tax is measured on a non-discounted basis. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are |
| depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of |
| the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Financial instruments |
| Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of |
| the instrument. |
| All financial assets and liabilities are initially measured at transaction price (including transaction cost). The company |
| has no financial assets classified at fair value through profit or loss. |
| All subsequent remeasurement of financial assets and liabilities are recognised at amortised cost using the effective |
| interest rate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2018 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2017 |
| and 30 June 2018 |
| AMORTISATION |
| At 1 July 2017 |
| Charge for year |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 July 2017 |
| Additions |
| Disposals | ( |
) |
| At 30 June 2018 |
| DEPRECIATION |
| At 1 July 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2018 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 July 2017 |
| Additions |
| Transfer to ownership | (34,500 | ) |
| At 30 June 2018 |
| DEPRECIATION |
| At 1 July 2017 |
| Charge for year |
| Transfer to ownership | (34,500 | ) |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| The hire purchase liabilities are secured against the asset to which they relate. |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Amounts owed to parent entities |
| The hire purchase liabilities are secured against the asset to which they relate. |
| HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 June 2018 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2018 | 2017 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating |
| leases |
| 2018 | 2017 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | RELATED PARTY DISCLOSURES |
| During the year, rent of £20,000 (2017: £20,000) has been charged by Claudel Venture Holdings Limited, the |
| immediate holding company. |
| At the year end a balance of £461,073 (2017: £376,733) was due to Claudel Venture Holdings Limited and £113,896 |
| (2017: £110,848) was owed to the ultimate parent company, Claudel Limited. Interest was charged at 2.75% on the |
| outstanding loans and amounted to £15,388 (2017: £13,050). The loans are repayable in more than 12 months. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| HERSHAM GOLF CLUB LIMITED |
| The following reproduces the text of the report prepared for the director 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 Director |
| 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 Hersham Golf Club Limited for the year ended 30 June 2018 which comprise the Profit and Loss Account, |
| Balance Sheet and the related notes from the company's accounting records and from information and explanations you |
| have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Hersham Golf Club Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hersham Golf Club Limited and state those matters that we have agreed to state to the director of Hersham Golf Club Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hersham Golf Club Limited and its director for our work or for this report. |
| It is your duty to ensure that Hersham 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 Hersham Golf Club Limited. You consider that Hersham 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 Hersham 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. |
| This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights |
| against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Director, who obtain access to this |
| report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk. |
| Chartered Accountants |
| Albury Mill |
| Mill Lane |
| Chilworth |
| Guildford |
| Surrey |
| GU4 8RU |