Ross On Wye Golf Club Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12197503 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2021

for

Ross On Wye Golf Club Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors' Responsibilities Statement

7

Independent Chartered Accountants' Review Report

8

DIRECTORS:

G Baker

R P Morgan

S Crooks

C Bennion

A Graham

N A Stirling

P Taylor

REGISTERED OFFICE:

Ross On Wye Golf Club

Gorsley

Ross On Wye

Herefordshire

HR9 7UT

REGISTERED NUMBER:

12197503 (England and Wales)

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

FIXED ASSETS

Tangible assets

4

282,561

303,698

CURRENT ASSETS

Stocks

12,505

7,945

Debtors

5

47,080

11,157

Cash at bank and in hand

382,288

279,363

441,873

298,465

CREDITORS

Amounts falling due within one year

6

241,604

234,909

NET CURRENT ASSETS

200,269

63,556

TOTAL ASSETS LESS CURRENT LIABILITIES

482,830

367,254

CREDITORS

Amounts falling due after more than one year

7

60,409

28,377

NET ASSETS

422,421

338,877

RESERVES

Retained Earnings

422,421

338,877

422,421

338,877

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 28 March 2022 and were signed on its behalf by:

R P Morgan - Director

1.	STATUTORY INFORMATION

Ross On Wye 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.

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.

Improvements to property

-

at varying rates on cost

Plant and machinery

-

20% on cost and 15% on cost

Fixtures and fittings

-

20% on cost and 15% 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.

Hire purchase and leasing commitments

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2020 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2021

157,817

160,610

30,259

348,686

Additions

17,184

3,254

3,558

23,996

At 31 December 2021

175,001

163,864

33,817

372,682

DEPRECIATION

At 1 January 2021

9,050

30,963

4,975

44,988

Charge for year

11,876

26,909

6,348

45,133

At 31 December 2021

20,926

57,872

11,323

90,121

NET BOOK VALUE

At 31 December 2021

154,075

105,992

22,494

282,561

At 31 December 2020

148,767

129,647

25,284

303,698

At 31st December 2021 assets with a net book value of £45,695 (2020: £91,906) were held under hire purchase and finance leases. Depreciation of £5,712 (2020: £20,352) was charged on these assets in the year.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Other debtors

38,056

5,187

VAT

613

-

Prepayments and accrued income

8,411

5,970

47,080

11,157

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

9,167

-

Hire purchase contracts (see note 8)

8,802

15,454

Trade creditors

29,493

18,871

Amounts due to related company

585

232

Tax

5,500

3,000

Payroll, pension & taxes

19,431

15,382

VAT

-

443

Other creditors

23,276

26,300

Captain's charity

635

2,022

200 Club

514

480

Prepaid membership subs

125,000

115,490

Accrued expenses

19,201

37,235

241,604

234,909

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans - 1-2 years

10,000

-

Bank loans - 2-5 years

30,000

-

Bank loans more 5 yr by instal

834

-

Hire purchase contracts (see note 8)

19,575

28,377

60,409

28,377

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

834

-

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.12.21

31.12.20

£

£

Net obligations repayable:

Within one year

8,802

15,454

Between one and five years

19,575

28,377

28,377

43,831

Non-cancellable operating

leases

31.12.21

31.12.20

£

£

Within one year

36,064

38,986

Between one and five years

68,778

69,440

104,842

108,426

A lease agreement is in place with Ross on Wye Golf Club Property Limited, a company also limited by guarantee. The agreement is for the rental of the course and clubhouse at a peppercorn rent for the 25 year term ending 31st December 2044.

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.21

31.12.20

£

£

Hire purchase contracts

28,377

43,831

10.	LIMITED BY GUARANTEE

The company has no issued share capital and is limited by guarantee of each member not exceeding £1.00

The following reproduces the text of the report prepared for the directors and members in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to:

-	ensure that the company has kept proper accounting records;

-	prepare financial statements which give a true and fair view of the state of affairs of the company as at 31 December 2021 and of its surplus for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements.

ON BEHALF OF THE BOARD:

R P Morgan - Director

28 March 2022

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of Ross On Wye Golf Club Limited for the year ended 31 December 2021, which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 1 to 7. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed.

Directors' responsibility for the financial statements

As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility

Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

-	so as to give a true and fair view of the state of the company's affairs as at 31 December 2021 and of its surplus for the year then ended;

-	in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	in accordance with the requirements of the Companies Act 2006.

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

4 April 2022