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 2021

FOR

THE RANFURLY CASTLE GOLF CLUB LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A M Frood

E E Muir

D Stewart

J Park

D Christie

B McLaughlin

A 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

460,987

433,227

CURRENT ASSETS

Stocks

17,264

7,311

Debtors

5

23,277

21,774

Cash at bank

393,009

376,285

433,550

405,370

CREDITORS

Amounts falling due within one year

6

221,902

142,748

NET CURRENT ASSETS

211,648

262,622

TOTAL ASSETS LESS CURRENT LIABILITIES

672,635

695,849

CREDITORS

Amounts falling due after more than one year

7

24,805

-

NET ASSETS

647,830

695,849

RESERVES

Land sale reserve

180,000

180,000

Income and expenditure account

467,830

515,849

647,830

695,849

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 30 September 2021 and were signed on its behalf by:

E E Muir - 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

Government grants

Grants of a revenue nature are credited to income so as to match with expenditure to which they relate.

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 18 (2020 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Greenkeeping,

Clubhouse

Land,

plant and

furnishing

clubhouse

implements

& equipment

& outbuildings

Totals

£

£

£

£

COST

At 1 April 2020

673,752

121,855

418,238

1,213,845

Additions

35,393

5,243

49,690

90,326

At 31 March 2021

709,145

127,098

467,928

1,304,171

DEPRECIATION

At 1 April 2020

578,448

119,360

82,810

780,618

Charge for year

45,435

1,345

15,786

62,566

At 31 March 2021

623,883

120,705

98,596

843,184

NET BOOK VALUE

At 31 March 2021

85,262

6,393

369,332

460,987

At 31 March 2020

95,304

2,495

335,428

433,227

Included in cost of land and buildings is freehold land of £ 8,022 (2020 - £ 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

31.3.21

31.3.20

£

£

Other debtors

9,672

2,074

Prepayments

13,605

19,700

23,277

21,774

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Hire purchase contracts

7,260

5,500

Trade creditors

54,653

31,432

Corporation tax

1,756

32,824

Social security and other taxes

3,146

2,614

VAT

5,607

-

Other creditors

18,699

7,165

Deferred income

113,567

53,699

Accrued expenses

17,214

9,514

221,902

142,748

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Hire purchase contracts

24,805

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Hire purchase contracts

32,065

5,500

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.