RAF St Athan Golf Club Limited - Accounts to registrar (filleted) - small 18.2

RAF St Athan Golf Club Limited

Audited Financial Statements for the Year Ended 31 July 2019

DIRECTORS:

B Asbury

A J Bowsher

H Phillips-Morgan

SECRETARY:

G Thomas

REGISTERED OFFICE:

Golf Club Lane

St Athan

Barry

Vale of Glamorgan

CF62 4LJ

REGISTERED NUMBER:

05009827 (England and Wales)

SENIOR STATUTORY AUDITOR:

Colin William Russell FCCA, FCA

AUDITORS:

BPU Limited

Chartered Accountants

Statutory Auditor

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

FIXED ASSETS

Tangible assets

3

78,566

34,384

CURRENT ASSETS

Stocks

3,885

4,571

Cash at bank and in hand

39,002

41,067

42,887

45,638

CREDITORS

Amounts falling due within one year

4

21,297

19,293

NET CURRENT ASSETS

21,590

26,345

TOTAL ASSETS LESS CURRENT LIABILITIES

100,156

60,729

CREDITORS

Amounts falling due after more than one year

5

45,155

443

NET ASSETS

55,001

60,286

RESERVES

Income and expenditure account

55,001

60,286

55,001

60,286

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 17 October 2019 and were signed on its behalf by:

A J Bowsher - Director

1.	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 the total amount receivable by the company in respect its principal activities as

a golf club of annual membership fees, green fees & hospitality services, excluding VAT

where applicable.

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% straight line

Fixtures and fittings

-

15% reducing balance

Computer equipment

-

33% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Pension costs

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.

Irrecoverable vat

The club's turnover consists of some income which is standard rated for VAT purposes and

some income which is exempt from VAT. The standard rated income consists mainly of bar

sales, whilst the exempt income is mainly membership subscriptions and green fees.

Under current VAT legislation, the mix of standard rated and exempt sources of income

means that the club may be unable to recover all of the VAT it is charged on expenses.

Quarterly and annual tests are applied to assess whether the club is eligible for full

recovery.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 11 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 August 2018

100,199

44,169

1,789

146,157

Additions

56,042

179

239

56,460

Disposals

(17,739

)

(818

)

-

(18,557

)

At 31 July 2019

138,502

43,530

2,028

184,060

DEPRECIATION

At 1 August 2018

81,028

28,956

1,789

111,773

Charge for year

9,756

2,291

33

12,080

Eliminated on disposal

(17,739

)

(620

)

-

(18,359

)

At 31 July 2019

73,045

30,627

1,822

105,494

NET BOOK VALUE

At 31 July 2019

65,457

12,903

206

78,566

At 31 July 2018

19,171

15,213

-

34,384

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

6,715

2,161

Trade creditors

941

2,971

Social security and other taxes

800

1,078

VAT

2,852

2,272

Other creditors

3,391

3,193

Accruals and deferred income

6,598

7,618

21,297

19,293

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

45,155

443

Amounts falling due in more than five years:

Repayable by instalments

Hire purchase

19,355

-

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

The Report of the Auditors was unqualified.

Colin William Russell FCCA, FCA (Senior Statutory Auditor)

for and on behalf of BPU Limited

7.	OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of

£135,000 (2018 - £145,000). This relates to thirteen and a half years remaining on a twenty

year lease payable at £10,000 per annum.