ACCOUNTS - Final Accounts preparation


Caseware UK (AP4) 2020.0.247 2020.0.247 2020-12-312020-12-31operation of sports facilities332020-01-01false35truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00294014 2020-01-01 2020-12-31 00294014 2019-01-01 2019-12-31 00294014 2020-12-31 00294014 2019-12-31 00294014 1 2020-01-01 2020-12-31 00294014 d:Director1 2020-01-01 2020-12-31 00294014 d:Director2 2020-01-01 2020-12-31 00294014 d:Director3 2020-01-01 2020-12-31 00294014 d:RegisteredOffice 2020-01-01 2020-12-31 00294014 c:PlantMachinery 2020-01-01 2020-12-31 00294014 c:PlantMachinery 2020-12-31 00294014 c:PlantMachinery 2019-12-31 00294014 c:PlantMachinery c:OwnedOrFreeholdAssets 2020-01-01 2020-12-31 00294014 c:MotorVehicles 2020-01-01 2020-12-31 00294014 c:MotorVehicles 2020-12-31 00294014 c:MotorVehicles 2019-12-31 00294014 c:MotorVehicles c:OwnedOrFreeholdAssets 2020-01-01 2020-12-31 00294014 c:FurnitureFittings 2020-01-01 2020-12-31 00294014 c:FurnitureFittings 2020-12-31 00294014 c:FurnitureFittings 2019-12-31 00294014 c:FurnitureFittings c:OwnedOrFreeholdAssets 2020-01-01 2020-12-31 00294014 c:OwnedOrFreeholdAssets 2020-01-01 2020-12-31 00294014 c:CurrentFinancialInstruments 2020-12-31 00294014 c:CurrentFinancialInstruments 2019-12-31 00294014 c:Non-currentFinancialInstruments 2020-12-31 00294014 c:Non-currentFinancialInstruments 2019-12-31 00294014 c:CurrentFinancialInstruments c:WithinOneYear 2020-12-31 00294014 c:CurrentFinancialInstruments c:WithinOneYear 2019-12-31 00294014 c:Non-currentFinancialInstruments c:AfterOneYear 2020-12-31 00294014 c:Non-currentFinancialInstruments c:AfterOneYear 2019-12-31 00294014 c:ShareCapital 2020-12-31 00294014 c:ShareCapital 2019-12-31 00294014 c:RetainedEarningsAccumulatedLosses 2020-12-31 00294014 c:RetainedEarningsAccumulatedLosses 2019-12-31 00294014 d:OrdinaryShareClass1 2020-01-01 2020-12-31 00294014 d:OrdinaryShareClass1 2020-12-31 00294014 d:FRS102 2020-01-01 2020-12-31 00294014 d:AuditExemptWithAccountantsReport 2020-01-01 2020-12-31 00294014 d:FullAccounts 2020-01-01 2020-12-31 00294014 d:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31 00294014 c:AcceleratedTaxDepreciationDeferredTax 2020-12-31 00294014 c:AcceleratedTaxDepreciationDeferredTax 2019-12-31 xbrli:shares iso4217:GBP xbrli:pure



Company Registration No.00294014 (England and Wales)





WEXHAM PARK GOLF & LEISURE CENTRE LIMITED

UNAUDITED
FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2020



































Riordan O'Sullivan & Co
Chartered Certified Accountants
40 Chamberlayne Road
London
NW10 3JE

 
WEXHAM PARK GOLF & LEISURE CENTRE LIMITED
 
 
COMPANY INFORMATION


Directors
John Weir 
Denis Nolan 
Daniel Nolan 




Registered number
00294014



Registered office
Wexham Park Golf Centre
Wexham Street

Wexham

Slough

Berkshire

SL3 6ND




Accountants
Riordan O'Sullivan & Co
Chartered Certified Accountants

40 Chamberlayne Road

London

NW10 3JE





 
WEXHAM PARK GOLF & LEISURE CENTRE LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 9


 
WEXHAM PARK GOLF & LEISURE CENTRE LIMITED
 
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WEXHAM PARK GOLF & LEISURE CENTRE LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wexham Park Golf & Leisure Centre Limited for the year ended 31 December 2020 which comprise the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/ethics/acca-rulebook.html.

This report is made solely to the Board of Directors of Wexham Park Golf & Leisure Centre Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Wexham Park Golf & Leisure Centre Limited  and state those matters that we have agreed to state to the Board of Directors of Wexham Park Golf & Leisure Centre Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wexham Park Golf & Leisure Centre Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Wexham Park Golf & Leisure Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wexham Park Golf & Leisure Centre Limited. You consider that Wexham Park Golf & Leisure Centre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Wexham Park Golf & Leisure Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Riordan O'Sullivan & Co
Chartered Certified Accountants
40 Chamberlayne Road
London
NW10 3JE
24 September 2021
Page 1

 
WEXHAM PARK GOLF & LEISURE CENTRE LIMITED
REGISTERED NUMBER:00294014

BALANCE SHEET
AS AT 31 DECEMBER 2020

2020
2019
Note
£
£

Fixed assets
  

Tangible assets
 4 
339,475
390,644

  
339,475
390,644

Current assets
  

Stocks
  
75,612
62,080

Debtors
 5 
747,179
604,717

Cash at bank and in hand
  
303,979
326,613

  
1,126,770
993,410

Creditors: amounts falling due within one year
 6 
(736,812)
(596,251)

Net current assets
  
 
 
389,958
 
 
397,159

Total assets less current liabilities
  
729,433
787,803

Creditors: amounts falling due after more than one year
 7 
(132,921)
(215,620)

Provisions for liabilities
  

Deferred tax
 8 
(62,127)
(71,328)

  
 
 
(62,127)
 
 
(71,328)

Net assets
  
534,385
500,855


Capital and reserves
  

Called up share capital 
 9 
15,100
15,100

Profit and loss account
  
519,285
485,755

  
534,385
500,855


Page 2

 
WEXHAM PARK GOLF & LEISURE CENTRE LIMITED
REGISTERED NUMBER:00294014
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2020

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 profit and loss account 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 24 September 2021.




___________________________
Denis Nolan
___________________________
John Weir
Director
Director

Page 3

 
WEXHAM PARK GOLF & LEISURE CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

1.


General information

Wexham Park Golf & Leisure Centre Limited is a limited company domiciled and incorporated in England and Wales. The registered office is Wexham Park Golf Centre, Wexham Street, Wexham, Slough, Berkshire, SL3 6ND.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Turnover and other income

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover from the sale of goods in the bar and restaurant is recognised when the goods are supplied to the customer.
Turnover from membership subscriptions is recognised evenly over the period of membership. Turnover from green fees and golfing services such as buggy and locker rental is recognised at the time the service is provided. Turnover from room hire and provision of conference facilities is recognised at the time the event takes place.
Rent receivable is recognised in the period to which the rent relates.

 
2.4

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the income statement so as to produce a constant periodic rate of interest on the remaining balance of the liability. 

Page 4

 
WEXHAM PARK GOLF & LEISURE CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

 
2.5

Pensions

The company operates a defined contribution plan for its employees. Payments to the defined contribution retirement scheme are charged as an expense as they fall due.

 
2.6

Government grants

Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.7

Current and deferred taxation

The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 
2.8

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is provided on the following basis:

Plant and machinery
-
Over 3 - 15 years
Motor vehicles
-
Over 3 - 15 years
Fixtures and fittings
-
Over 3 - 10 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Page 5

 
WEXHAM PARK GOLF & LEISURE CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.


3.


Employees

The average monthly number of employees, including directors, during the year was 33 (2019 - 35).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2020
620,780
167,731
179,691
968,202


Additions
15,266
-
47,676
62,942


Disposals
(37,248)
-
(12,983)
(50,231)



At 31 December 2020

598,798
167,731
214,384
980,913



Depreciation


At 1 January 2020
294,294
167,731
115,533
577,558


Charge for the year
79,104
-
29,437
108,541


Disposals
(33,719)
-
(10,942)
(44,661)



At 31 December 2020

339,679
167,731
134,028
641,438



Net book value



At 31 December 2020
259,119
-
80,356
339,475



At 31 December 2019
326,486
-
64,158
390,644

Page 6

 
WEXHAM PARK GOLF & LEISURE CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

5.


Debtors

2020
2019
£
£


Trade debtors
69,298
24,808

Other debtors
653,854
539,962

Prepayments
24,027
39,947

747,179
604,717



6.


Creditors: Amounts falling due within one year

2020
2019
£
£

Trade creditors
99,027
144,894

Amounts owed to related undertakings
290,000
191,667

Corporation tax
1,332
-

Other taxation and social security
48,248
56,558

Obligations under finance lease and hire purchase contracts
54,936
25,775

Other creditors
226,363
160,898

Accruals
16,906
16,459

736,812
596,251


Amounts owed to related undertakings are unsecured, interest-free and repayable on demand.


7.


Creditors: Amounts falling due after more than one year

2020
2019
£
£

Obligations under finance leases and hire purchase contracts
132,921
215,620


The hire purchase obligations are secured on the assets to which they relate.

Page 7

 
WEXHAM PARK GOLF & LEISURE CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

8.


Deferred taxation




2020


£






At beginning of year
71,328


Credit to profit or loss
(9,201)



At end of year
62,127

The provision for deferred taxation is made up as follows:

2020
2019
£
£


Accelerated capital allowances
62,127
71,328


9.


Share capital

2020
2019
£
£
Authorised, allotted, called up and fully paid



302,000 Ordinary shares shares of £0.05 each
15,100
15,100



10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. 
Contributions totalling £847 (2019: £689) were payable to the fund at the balance sheet date and are included in creditors.


11.Commitments under operating leases

At 31 December 2020, the company had annual commitments under non-cancellable operating leases over 5 year of £100,000 (2019: £100,000).


12.


Related party transactions

The company has taken advanatge of the exemption availabe in accordance with Financial Reporting Standard 102, section 33.1A, 'Related Party Disclosures' not to disclose transactions entered and outstanding balances between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

Page 8

 
WEXHAM PARK GOLF & LEISURE CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

13.


Post balance sheet events

There were no events since the year end which materially affected the company.


14.


Controlling party

The company's parent undertaking is Swing City Golf & Leisure Limited, a company registered in England & Wales.

 
Page 9