The Rochester & Cobham Park Golf Club Li - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01225802 (England and Wales)

Financial Statements for the Year Ended 31st March 2020

for

The Rochester & Cobham Park Golf Club

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T C Heaver

P W E Hynes

W P Richardson

M J Ellis

D C Raymond

J F Cross

J Bullock

M Riddick

R L Gardner

SECRETARY:

J Aughterlony

REGISTERED OFFICE:

Park Pale

By Rochester

Kent

ME2 3UL

REGISTERED NUMBER:

01225802 (England and Wales)

AUDITORS:

Beak Kemmenoe

Chartered Accountants

& Statutory Auditors

1-3 Manor Road

Chatham

Kent

ME4 6AE

FIXED ASSETS

Tangible assets

5

796,933

850,506

CURRENT ASSETS

Stocks

91,355

86,313

Debtors

6

6,909

15,641

Investments

7

3,131

2,964

Cash at bank and in hand

684,008

685,565

785,403

790,483

CREDITORS

Amounts falling due within one year

8

475,688

537,535

NET CURRENT ASSETS

309,715

252,948

TOTAL ASSETS LESS CURRENT LIABILITIES

1,106,648

1,103,454

CREDITORS

Amounts falling due after more than one year

9

10,363

12,698

NET ASSETS

1,096,285

1,090,756

RESERVES

Fair value reserve

12

1,131

964

Income and expenditure account

12

1,095,154

1,089,792

1,096,285

1,090,756

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 and authorised for issue on 19th October 2020 and were signed on its behalf by:

J F Cross - Director

1.	STATUTORY INFORMATION

The Rochester & Cobham Park 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Freehold property

-

Straight line over 50 years or 10 years

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% 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.

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.

Pension costs and other post-retirement benefits

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.

Going concern

The Club has a positive balance sheet and a net current asset position in excess of £300,000 at the balance sheet date.

As with all organizations in the sporting and hospitality sector, Covid 19 has had a substantial short term impact on turnover.

The Club has adequate resources for the next twelve months from the date of signing these financial statements to continue even without potential further Government initiatives to support the sporting and hospitality sector.

The directors have therefore continued to treat the Club as a going concern.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2019 - 22 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1st April 2019

1,073,731

285,442

46,380

1,405,553

Additions

-

5,000

12,835

17,835

Disposals

-

(51,746

)

(14,717

)

(66,463

)

At 31st March 2020

1,073,731

238,696

44,498

1,356,925

DEPRECIATION

At 1st April 2019

354,665

155,204

45,178

555,047

Charge for year

14,762

53,477

3,169

71,408

Eliminated on disposal

-

(51,746

)

(14,717

)

(66,463

)

At 31st March 2020

369,427

156,935

33,630

559,992

NET BOOK VALUE

At 31st March 2020

704,304

81,761

10,868

796,933

At 31st March 2019

719,066

130,238

1,202

850,506

Included in cost of land and buildings is freehold land of £ 273,979 (2019 - £ 273,979 ) which is not depreciated.

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

Plant and

machinery

£

COST

At 1st April 2019

and 31st March 2020

35,800

DEPRECIATION

At 1st April 2019

7,160

Charge for year

7,160

At 31st March 2020

14,320

NET BOOK VALUE

At 31st March 2020

21,480

At 31st March 2019

28,640

6.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Other debtors

5,950

15,641

Amounts falling due after more than one year:

Other debtors

959

-

Aggregate amounts

6,909

15,641

7.	CURRENT ASSET INVESTMENTS

2020

2019

£

£

Listed investments

3,131

2,964

HM Treasury 4 1/4% Treasury Stock 2032 at market value.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts (see note 10)

9,485

8,520

Trade creditors

77,862

138,732

Corporation tax

348

258

Social security and other taxes

16,551

29,589

Other creditors

7,287

15,173

Accruals and deferred income

364,155

345,263

475,688

537,535

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts (see note 10)

10,363

12,698

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2020

2019

£

£

Net obligations repayable:

Within one year

9,485

8,520

Between one and five years

10,363

12,698

19,848

21,218

Non-cancellable operating

leases

2020

2019

£

£

Within one year

1,621

-

Between one and five years

68,758

107,537

70,379

107,537

11.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Hire purchase contracts

19,848

21,218

A charge over the club's freehold property is held by the bank as security for the overdraft facility.

12.

RESERVES

Income

and

Fair

expenditure

value

account

reserve

Totals

£

£

£

At 1st April 2019

1,089,792

964

1,090,756

Surplus for the year

5,529

5,529

Fair value changes

(167

)

167

-

At 31st March 2020

1,095,154

1,131

1,096,285

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

The Report of the Auditors was unqualified.

Ronald Price FCA (Senior Statutory Auditor)

for and on behalf of Beak Kemmenoe

14.	COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee, all members having a liability not exceeding £10 per member.