Bigbury Bay Golf Club Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06929632 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2020

FOR

Bigbury Bay Golf Club Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

Directors:

T Alderton

D W Hall

Miss S J Errett

Lt Cdr S M Ryder

S M Bastone

Reverend J A Elliott

P J H Lowe

Registered office:

The Club House

Bigbury Bay Golf Club

Bigbury

Kingsbridge

Devon

TQ7 4BB

Registered number:

06929632 (England and Wales)

Accountants:

Nigel Webster & Co

129 North Hill

Plymouth

Devon

PL4 8JY

Fixed assets

Tangible assets

4

477,058

530,068

Investments

5

100

100

477,158

530,168

Current assets

Stocks

2,079

2,635

Debtors

6

17,719

15,582

Cash at bank and in hand

61,174

57,650

80,972

75,867

Creditors

Amounts falling due within one year

7

208,608

211,334

Net current liabilities

(127,636

)

(135,467

)

Total assets less current liabilities

349,522

394,701

Creditors

Amounts falling due after more than one year

8

21,964

51,054

Net assets

327,558

343,647

Reserves

Retained earnings

10

327,558

343,647

327,558

343,647

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2020 and were signed on its behalf by:

Lt Cdr S M Ryder - Director

1.	STATUTORY INFORMATION

Bigbury Bay Golf Club Limited is a private company, limited by guarantee , 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.

Preparation of consolidated financial statements

The financial statements contain information about Bigbury Bay Golf Club Limited as an

individual company and do not contain consolidated financial information as the parent of a

group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the

requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of

discounts and value added taxes.

Turnover includes:

Revenue from membership subscriptions - recognised on a calender year basis.

The sale of goods - recognised upon receipt

Donations received - recognised upon receipt.

Management fee from subsidiary company - recognised upon receipt.

Tangible fixed assets

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

Club buildings and improvements

-

straight line over the term of the lease

Course improvements

-

straight line over the term of the lease

Fixtures equipment machinery and tools

-

15% on reducing balance and 10% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost. If the directors consider that

there has been a permanent diminution in value of an investment such that it's value is less

than cost then a provision is made to reflect this in the year that it is identified.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete

and sell. Cost is determined using the first in first out method. The carrying amount of stock

sold is recognised as an expense in the period in which the related revenue is recognised.

Taxation

As the company is a CASC and the income derived from provision of services to

non-members is below the taxable threshold, no corporation tax liability arises.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price),

less any impairment losses for bad and doubtful debts. Loans and other financial assets are

initially recognised at transaction price including any transaction costs and subsequently

measured at amortised cost determined using the effective interest method, less any

impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price).

Loans and other financial liabilities are initially recognised at transaction price net of any

transaction costs and subsequently measured at amortised cost determined using the

effective interest method.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an

obligation at the reporting date as a result of a past event, it is probable that economic

benefit will be transferred to settle the obligation and the amount of the obligation can be

estimated reliably.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2019 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Club

Fixtures

buildings

equipment

and

Course

machinery

improvements

improvements

and tools

Totals

£

£

£

£

Cost

At 1 March 2019

351,731

261,776

422,689

1,036,196

Additions

-

-

7,647

7,647

At 29 February 2020

351,731

261,776

430,336

1,043,843

Depreciation

At 1 March 2019

120,149

137,387

248,592

506,128

Charge for year

19,575

14,557

26,525

60,657

At 29 February 2020

139,724

151,944

275,117

566,785

Net book value

At 29 February 2020

212,007

109,832

155,219

477,058

At 28 February 2019

231,582

124,389

174,097

530,068

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 1 March 2019

and 29 February 2020

100

Net book value

At 29 February 2020

100

At 28 February 2019

100

The company holds 100% of the ordinary share capital of Bigbury Bay Golf Club Trading

Limited a company registered in England and Wales.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

17,719

15,582

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Finance leases

30,699

39,826

Trade creditors

14,222

10,606

Amounts owed to group undertakings

44,268

48,868

Taxation and social security

5,285

-

Other creditors

114,134

112,034

208,608

211,334

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Finance leases

21,964

51,054

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Finance leases

52,663

90,880

10.

RESERVES

The company receives voluntary donations under Gift Aid which are accumulating as a

development fund in a dedicated bank account. These funds are being used solely to help

finance major enhancement projects for the benefit of members. None of the fund has been,

or will be, used to meet general running expenses of the club.

11.	CONTINGENT LIABILITIES

The company has a contingent liability of £142,833 in respect of rent payable. This

represents the difference between rent invoices raised by the landlord, in accordance with

the terms of the lease, and the actual amount paid by the company and accepted by

concession.

12.	LIMITED BY GUARANTEE

The company is limited by guarantee and does not have a share capital. In the event of the

company being wound up each member is limited to a liability of £1.