Chichester Golf Sussex LLP - Accounts to registrar (filleted) - small 18.2
Chichester Golf Sussex LLP - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| FOR |
| CHICHESTER GOLF SUSSEX LLP |
| CHICHESTER GOLF SUSSEX LLP (REGISTERED NUMBER: OC307141) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| Page |
| General Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| CHICHESTER GOLF SUSSEX LLP |
| GENERAL INFORMATION |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| DESIGNATED MEMBERS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 24 Park Road South |
| Havant |
| Hampshire |
| PO9 1HB |
| CHICHESTER GOLF SUSSEX LLP (REGISTERED NUMBER: OC307141) |
| BALANCE SHEET |
| 31ST MAY 2019 |
| 2019 | 2018 |
| 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 |
| and |
| NET ASSETS ATTRIBUTABLE TO MEMBERS |
934,913 |
736,275 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
932,913 |
734,275 |
| MEMBERS' OTHER INTERESTS |
| Capital accounts | 2,000 | 2,000 |
| 934,913 | 736,275 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 10 | 932,913 | 734,275 |
| Members' other interests | 2,000 | 2,000 |
| 934,913 | 736,275 |
| The members acknowledge their responsibilities for: |
| (a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
| CHICHESTER GOLF SUSSEX LLP (REGISTERED NUMBER: OC307141) |
| BALANCE SHEET - continued |
| 31ST MAY 2019 |
| In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
| The financial statements were approved by the members of the LLP on |
| CHICHESTER GOLF SUSSEX LLP (REGISTERED NUMBER: OC307141) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| 1. | STATUTORY INFORMATION |
| Chichester Golf Sussex LLP is registered in England and Wales. The LLP's registered number and registered |
| office address can be found on the General Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements relate to Chichester Golf Sussex LLP as an individual entity. |
| The financial statements are presented in Sterling (£) and rounded to the nearest pound (£). |
| Turnover recognition |
| Turnover is measured at the fair value of the consideration received and represents the value of goods and |
| services supplied from the golf shop and clubhouse together with membership subscriptions, net of discounts |
| and value added tax. Membership subscriptions are spread evenly in the profit and loss account over the period |
| to which they relate. |
| Goodwill |
| Goodwill has been transferred from Sussex Golf Clubs Limited, and is the amount paid in connection with the |
| acquisition of Chichester Golf Club from Mr R Haygarth in 2002. This is being written off evenly over its |
| estimated useful life of twenty years. |
| 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. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Office equipment | - |
| Assets under the course of construction represent planning fees and associated costs. No depreciation has |
| been charged during the period as the asset is not yet in use. |
| Tangible fixed assets are included at cost less depreciation and impairment. |
| The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if |
| appropriate. |
| Stocks |
| Stocks are valued at lower of cost and estimated selling price less costs to complete and sell, after making due |
| allowance for obsolete and slow moving items. |
| Financial instruments |
| Financial instruments are recognised in line with Sections 11 and 12 of FRS 102. |
| Basic financial instruments, such as bank and cash, loans, amounts due to/from group undertakings, trade |
| receivables and payables are initially recognised at transaction price, unless they constitute a financing |
| arrangement, when the transaction is measured at the present value of the future receipts/payments discounted |
| at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective |
| interest rate method. |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees during the year was |
| CHICHESTER GOLF SUSSEX LLP (REGISTERED NUMBER: OC307141) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1st June 2018 |
| and 31st May 2019 |
| AMORTISATION |
| At 1st June 2018 |
| Charge for year |
| At 31st May 2019 |
| NET BOOK VALUE |
| At 31st May 2019 |
| At 31st May 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Assets |
| under the |
| course of |
| Long | con | Plant and |
| leasehold | struction | machinery |
| £ | £ | £ |
| COST |
| At 1st June 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Reclassification/transfer | ( |
) |
| At 31st May 2019 |
| DEPRECIATION |
| At 1st June 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31st May 2019 |
| NET BOOK VALUE |
| At 31st May 2019 |
| At 31st May 2018 |
| CHICHESTER GOLF SUSSEX LLP (REGISTERED NUMBER: OC307141) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor | Office |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st June 2018 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| Reclassification/transfer |
| At 31st May 2019 |
| DEPRECIATION |
| At 1st June 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31st May 2019 |
| NET BOOK VALUE |
| At 31st May 2019 |
| At 31st May 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2019 | 2018 |
| £ | £ |
| Within one year |
| Between one and five years |
| CHICHESTER GOLF SUSSEX LLP (REGISTERED NUMBER: OC307141) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MAY 2019 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| Barclays Bank PLC hold a charge over Chichester Golf Sussex LLP, Hillbarn Golf Club Ltd, Horton Park Golf |
| Club Ltd and Sussex Golf Clubs Ltd on the bank's standard form dated 21 May 2009. |
| 10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| 2019 | 2018 |
| £ | £ |
| Amounts owed to members in respect of profits | 932,913 | 734,275 |
| Falling due within one year | 932,913 | 734,275 |
| Loans and other debts due to members would rank pari passu with unsecured creditors in the event of a winding |
| up. |
| 11. | CONTINGENT LIABILITIES |
| The LLP has given an unlimited cross guarantee to its related company's bankers. As at 31 May 2019 the |
| amount of this contingent liability was £1,124,565 (2018: £1,353,467). |