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

REGISTERED NUMBER: 02788564 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

CHERWELL EDGE GOLF CLUB LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Gallant

P Richards

Mrs L Gallant-Barnes

SECRETARY:

J Gallant

REGISTERED OFFICE:

Chacombe

Banbury

Oxfordshire

OX17 2EN

REGISTERED NUMBER:

02788564 (England and Wales)

ACCOUNTANTS:

Lustigman & Company

Chartered Accountants

Manor House

27 Manor Park Crescent

Edgware

Middlesex

HA8 7NH

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

1,712,321

1,711,374

1,712,322

1,711,375

CURRENT ASSETS

Stocks

17,647

16,466

Debtors

6

6,910

7,857

Cash at bank and in hand

141,324

124,441

165,881

148,764

CREDITORS

Amounts falling due within one year

7

480,789

416,924

NET CURRENT LIABILITIES

(314,908

)

(268,160

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,397,414

1,443,215

CREDITORS

Amounts falling due after more than one year

8

1,490,000

1,490,000

NET LIABILITIES

(92,586

)

(46,785

)

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

(142,586

)

(96,785

)

SHAREHOLDERS' FUNDS

(92,586

)

(46,785

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 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 on 13 December 2019 and were signed on its behalf by:

J Gallant - Director

1.	STATUTORY INFORMATION

Cherwell Edge 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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

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

Land and buildings

-

Amortised over the length of the lease.

Plant and machinery etc

-

15% 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.

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.

Depreciation policy

It is not considered necessary to amortise Land and Buildings.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2018 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

135,731

AMORTISATION

At 1 April 2018

and 31 March 2019

135,730

NET BOOK VALUE

At 31 March 2019

1

At 31 March 2018

1

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2018

1,633,054

756,023

2,389,077

Additions

-

19,709

19,709

At 31 March 2019

1,633,054

775,732

2,408,786

DEPRECIATION

At 1 April 2018

27,054

650,649

677,703

Charge for year

-

18,762

18,762

At 31 March 2019

27,054

669,411

696,465

NET BOOK VALUE

At 31 March 2019

1,606,000

106,321

1,712,321

At 31 March 2018

1,606,000

105,374

1,711,374

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

2,325

1,995

Other debtors

4,585

5,862

6,910

7,857

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

91,401

76,575

Taxation and social security

35,194

32,682

Other creditors

354,194

307,667

480,789

416,924

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

1,490,000

1,490,000

9.	RELATED PARTY DISCLOSURES

The company is wholly owned by Company Development Limited with which

J Gallant's wife D Gallant is associated.