The Ranfurly Castle Golf Club Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC005585 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

THE RANFURLY CASTLE GOLF CLUB LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A M Frood

R D Gormley

S Hunter

E E Muir

D Stewart

P W Swinnerton

SECRETARY:

A J Mcintyre

REGISTERED OFFICE:

Club House

Bridge Of Weir

Renfrewshire

PA11 3HN

REGISTERED NUMBER:

SC005585 (Scotland)

ACCOUNTANTS:

Robert J Hart & Company

Chartered Accountants

Riversleigh

9 Kilwinning Road

Irvine

Ayrshire

KA12 8RR

FIXED ASSETS

Tangible assets

4

433,227

179,670

CURRENT ASSETS

Stocks

7,311

7,262

Debtors

5

21,774

25,604

Cash at bank

376,285

729,022

405,370

761,888

CREDITORS

Amounts falling due within one year

6

142,748

162,761

NET CURRENT ASSETS

262,622

599,127

TOTAL ASSETS LESS CURRENT LIABILITIES

695,849

778,797

CREDITORS

Amounts falling due after more than one year

7

-

4,683

NET ASSETS

695,849

774,114

RESERVES

Land sale reserve

180,000

180,000

Income and expenditure account

515,849

594,114

695,849

774,114

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 surplus or deficit 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 and authorised for issue on 17 August 2020 and were signed on its behalf by:

R D Gormley - Director

1.	STATUTORY INFORMATION

The Ranfurly Castle Golf Club Ltd is a private company, limited by guarantee , registered in Scotland. 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, on all assets other than land and assets in the work of construction, at the following annual rates in order to write off each asset over its estimated useful life.

Greenkeeping, plant and implements - 20% on cost and 10% on cost

Clubhouse furnishing & equipment - 20% on cost

Clubhouse & outbuildings - 4% 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.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions are charged to the income and expenditure account as they become payable in accordance with the rules of the scheme.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2019 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Greenkeeping,

Clubhouse

Land,

plant and

furnishing

clubhouse

implements

& equipment

& outbuildings

Totals

£

£

£

£

COST

At 1 April 2019

661,219

121,855

118,442

901,516

Additions

12,533

-

299,796

312,329

At 31 March 2020

673,752

121,855

418,238

1,213,845

DEPRECIATION

At 1 April 2019

524,932

117,993

78,921

721,846

Charge for year

53,516

1,367

3,889

58,772

At 31 March 2020

578,448

119,360

82,810

780,618

NET BOOK VALUE

At 31 March 2020

95,304

2,495

335,428

433,227

At 31 March 2019

136,287

3,862

39,521

179,670

Included in cost of land and buildings is freehold land of £ 8,022 (2019 - £ 8,022 ) which is not depreciated.

Land is included in the financial statements at historical cost of £8,022. The directors consider the value of land is greatly in excess of the book value. However, the land has not been professionally valued, and as such is included within the financial statements at historical cost.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Other debtors

2,074

2,656

Prepayments

19,700

22,948

21,774

25,604

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

5,500

15,810

Trade creditors

31,432

13,439

Corporation tax

32,824

30,807

Social security and other taxes

2,614

3,211

Other creditors

7,165

6,026

Deferred income

53,699

82,465

Accrued expenses

9,514

11,003

142,748

162,761

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

-

4,683

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Hire purchase contracts

5,500

20,493

The above liabilities are secured over the relevant assets financed.

9.	COMPANY STATUS

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £5 towards the assets of the company in the event of liquidation.