Abbreviated Company Accounts - ST. AUGUSTINES GOLF CLUB (RAMSGATE) LIMITED

ST. AUGUSTINES GOLF CLUB (RAMSGATE) LIMITED - Company Information

00183486 ST. AUGUSTINES GOLF CLUB (RAMSGATE) LIMITED 2014-12-31 false 2014-01-01 2014-12-31 true 00183486 2014-01-01 2014-12-31 00183486 2014-12-31 00183486 2013-12-31 00183486 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 00183486 uk-gaap-cd-bus:Director2 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 iso4217:GBP shares

Registered Number 00183486

ST. AUGUSTINES GOLF CLUB (RAMSGATE) LIMITED

Abbreviated Accounts

31 December 2014

ST. AUGUSTINES GOLF CLUB (RAMSGATE) LIMITED Registered Number 00183486

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	128,980	129,230
Investments	3	50,000	50,000
		178,980	179,230
Current assets
Debtors		63,194	55,300
Cash at bank and in hand		72,404	64,095
		135,598	119,395
Net current assets (liabilities)		135,598	119,395
Total assets less current liabilities		314,578	298,625
Creditors: amounts falling due after more than one year		(11,293)	(5,561)
Total net assets (liabilities)		303,285	293,064
Capital and reserves
Called up share capital	4	5,088	5,088
Share premium account		1,700	1,700
Revaluation reserve		118,695	118,695
Profit and loss account		177,802	167,581
Shareholders' funds		303,285	293,064

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 31 July 2015

And signed on their behalf by:
N B W Cole, Director
P J Caswell, Director

ST. AUGUSTINES GOLF CLUB (RAMSGATE) LIMITED Registered Number 00183486

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover policy
Turnover comprises rental income which is recognised on a time basis, by reference to the agreement entered.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Furniture & fittings - 20% RB
Computer equipment - 33.3% RB

Other accounting policies
Investments

Investments held as fixed assets are shown at cost less provision for impairment.

Freehold land and buildings

The company leases its freehold property to St Augustine's Golf Club. The property is held as a source of investment income.

In accordance with the provisions of the Financial Reporting Standards for Smaller Entities the property is included in the balance sheet at open market value.

No depreciation has been provided in respect of this investment property. This is a departure from requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are not held for consumption but for investment and the directors consider that to depreciate them would not give a true and fair view.

Costs incurred in respect of the proposed course development are carried forward in prepayments until the course is developed.

2Tangible fixed assets

	£
Cost
At 1 January 2014	130,584
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	130,584
Depreciation
At 1 January 2014	1,354
Charge for the year	250
On disposals	-
At 31 December 2014	1,604
Net book values
At 31 December 2014	128,980
At 31 December 2013	129,230

Freehold land and Buildings were professionally valued at £125,000 as at 31 December 1990. The company purchased additional land during 1992 at a cost of £3,100.

The directors consider that the open market value of the company's freehold land and buildings as at 31 December 2014 was £128,100.

If the property was sold at the valuation a tax liability of approximately £8,264 would arise.

3Fixed assets Investments
During the year ended 31 December 2003 a loan of £50,000 was advanced to St Augustine's Golf Club. The loan is interest free and there is no set repayment date. The directors do not envisage the loan being repaid within the next five years. St Augustine's Golf Club is an associated undertaking of the company as it controls over 20% of the issued share capital in the company.

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
5,088 Ordinary shares of £1 each	5,088	5,088