St Patrick's Golf Club, Downpatrick Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: NI010660 (Northern Ireland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2019

FOR

ST PATRICK'S GOLF CLUB, DOWNPATRICK LTD.

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Kelly

M Donovan

D Carson

N Traynor

Mrs A Kenmore

J Mageean

J Torney

R McCausland

P Totton

SECRETARY:

J Torney

REGISTERED OFFICE:

The Secretary

43 Saul Road

Downpatrick

Co. Down

BT30 6PA

REGISTERED NUMBER:

NI010660 (Northern Ireland)

AUDITORS:

M.B.Mc Grady & Co

Chartered Accountants

Registered Auditor

Rathmore House

52 St Patricks Avenue

Downpatrick

Co. Down

BT30 6DS

FIXED ASSETS

Tangible assets

4

939,907

927,218

CURRENT ASSETS

Stocks

11,026

9,833

Debtors

12,788

12,384

Cash at bank and in hand

67,158

27,093

90,972

49,310

CREDITORS

Amounts falling due within one year

100,115

117,380

NET CURRENT LIABILITIES

(9,143

)

(68,070

)

TOTAL ASSETS LESS CURRENT LIABILITIES

930,764

859,148

CREDITORS

Amounts falling due after more than one year

241,326

215,174

NET ASSETS

689,438

643,974

RESERVES

Income and expenditure account

689,438

643,974

689,438

643,974

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 February 2020 and were signed on its behalf by:

J Torney - Director

P Kelly - Director

1.	STATUTORY INFORMATION

St Patrick's Golf Club, Downpatrick Ltd. is a private company, limited by guarantee , registered in Northern

Ireland. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

20% on reducing balance and 10% on reducing balance

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

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 surplus or deficit over the relevant period. The capital

element of the future payments is treated as a liability.

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

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2018 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2019

1,820,294

Additions

39,945

At 31 December 2019

1,860,239

DEPRECIATION

At 1 January 2019

893,076

Charge for year

27,256

At 31 December 2019

920,332

NET BOOK VALUE

At 31 December 2019

939,907

At 31 December 2018

927,218

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 January 2019

49,669

Additions

32,551

Reclassification/transfer

(27,850

)

At 31 December 2019

54,370

DEPRECIATION

At 1 January 2019

27,041

Charge for year

6,574

Reclassification/transfer

(16,385

)

At 31 December 2019

17,230

NET BOOK VALUE

At 31 December 2019

37,140

At 31 December 2018

22,628

5.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdraft

-

24,347

Bank loans

208,134

225,218

208,134

249,565

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Conaill McGrady (Senior Statutory Auditor)

for and on behalf of M.B.Mc Grady & Co