Hendon Golf Club 1903 Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 12475815 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

HENDON GOLF CLUB 1903 LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M I Macleod

D F Macleod

L D Nicoll

Ms P D Rowlands

J R G Titmas

SECRETARY:

J R G Titmas

REGISTERED OFFICE:

Ashley Walk

Devonshire Road

London

NW7 1DG

REGISTERED NUMBER:

12475815 (England and Wales)

AUDITORS:

Collards

Chartered Accountants

Registered Auditors

5-9 Eden Street

Kingston-upon-Thames

Surrey

KT1 1BQ

FIXED ASSETS

Tangible assets

4

6,471,056

-

CURRENT ASSETS

Cash at bank

3,448

-

CREDITORS

Amounts falling due within one year

5

3,448

-

NET CURRENT LIABILITIES

-

-

TOTAL ASSETS LESS CURRENT LIABILITIES

6,471,056

-

RESERVES

Other reserves

6

591,846

-

Fair value reserve

6

5,879,210

-

6,471,056

-

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 16 November 2022 and were signed on its behalf by:

M I Macleod - Director

1.	STATUTORY INFORMATION

Hendon Golf Club 1903 Ltd 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 as modified by the revaluation of certain assets.

Significant judgements and estimates

The preparation of the financial statements requires the company to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for income and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Tangible fixed assets represents a significant element of the balance sheet. The directors have opted to use valuation techniques in order to arrive at the fair value of the land and buildings. The very nature of valuations lends itself to the use of assumptions and as such the use of values can become subjective. External valuers are used for added assurance.

Tangible fixed assets

No depreciation has been provided against the freehold property within the financial statements as the directors deem it more appropriate to carry out a fair value assessment each year end to determine the carrying value of the assets held.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

land and

buildings

£

COST OR VALUATION

Transfer from unincorporated association

591,846

Revaluations

5,879,210

At 31 March 2022

6,471,056

NET BOOK VALUE

At 31 March 2022

6,471,056

Cost or valuation at 31 March 2022 is represented by:

Freehold

land and

buildings

£

Valuation in 2022

5,879,210

Cost

591,846

6,471,056

The valuation was carried out by Simon Levy FRICS MAE.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Accrued expenses

3,448

-

6.

RESERVES

Income

and

Fair

expenditure

Other

value

account

reserves

reserve

Totals

£

£

£

£

Surplus for the year

-

-

Transfer from unincorporated

association

-

591,846

-

591,846

Fair value adjustment

-

-

5,879,210

5,879,210

At 31 March 2022

-

591,846

5,879,210

6,471,056

The balance under other reserves represent the value of assets and liabilities transferred from the previous unincorporated association.

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

The Report of the Auditors was unqualified.

Jonathan Charles Addison FCA (Senior Statutory Auditor)

for and on behalf of Collards

8.	RELATED PARTY DISCLOSURES

During the year the company charged Hendon Golf Club Ltd £5,000 for rent and was charged £1,498 for management fees.