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Registered number: 00042962
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City of Newcastle Golf Club Limited (The)
(A company limited by guarantee)
Financial statements
Information for filing with the registrar
31 March 2022
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City of Newcastle Golf Club Limited (The)
(A company limited by guarantee)
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Balance sheet
as at 31 March 2022
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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1
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City of Newcastle Golf Club Limited (The)
(A company limited by guarantee)
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Balance sheet (continued)
as at 31 March 2022
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 October 2022.
Registered number: 00042962
The notes on pages 3 to 6 form part of these financial statements.
2
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City of Newcastle Golf Club Limited (The)
(A company limited by guarantee)
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Notes to the financial statements
for the year ended 31 March 2022
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Three Mile Bridge, Gosforth, Newcastle upon Tyne, NE3 2DR.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Turnover is measured at the fair value of the consideration received or receivable from subscriptions and other forms of income, net of Value Added Tax.
Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on straight line and reducing balance basis..
Depreciation is provided on the following basis:
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Freehold land and buildings
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straight line over 15 years
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Clubhouse equipment & buggies
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
3
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City of Newcastle Golf Club Limited (The)
(A company limited by guarantee)
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Notes to the financial statements
for the year ended 31 March 2022
2.Accounting policies (continued)
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
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The average monthly number of employees, including directors, during the year was 8 (2021 -9).
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Freehold property and land
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Implements and irrigation
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Clubhouse equipment and buggies
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4
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City of Newcastle Golf Club Limited (The)
(A company limited by guarantee)
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Notes to the financial statements
for the year ended 31 March 2022
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Investments in subsidiary companies
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The company owns 100% of the issued share capital of City of Newcastle Golf Club Trading Limited, a company registered in England. The registered office of which is Three Mile Bridge, Gosforth, Newcastle upon Tyne NE3 2DR. The amount of the investment at cost at 31 March 2021 was £1.
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Prepayments and accrued income
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5
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City of Newcastle Golf Club Limited (The)
(A company limited by guarantee)
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Notes to the financial statements
for the year ended 31 March 2022
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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The bank loans are secured by a fixed and floating charge. The finance lease creditor is secured on the
assets to which they relate.
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Creditors: Amounts falling due after more than one year
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Net obligations under finance leases and hire purchase contracts
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The bank loans are secured by a fixed and floating charge. The finance lease creditor is secured on the
assets to which they relate.
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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 £1 towards the assets of the company in the event of liquidation.
6
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