Ringway Golf Club Limited
Ringway Golf Club Limited
Registered number: 00238208
Unaudited ABRIDGED Financial Statements
For The Year Ended
30 September 2022
Allen Mills Howard & Co
Chartered Accountants
Lewis House
56 Manchester Road
Altrincham
Cheshire
WA14 4PJ
Ringway Golf Club Limited
Unaudited Financial Statements
For The Year Ended
30 September 2022
Unaudited Financial Statements
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| Company Information | 1 |
| Abridged Balance Sheet | 2—3 |
| Notes to the Abridged Financial Statements | 4—6 |
Ringway Golf Club Limited
Company Information
For The Year Ended
30 September 2022
Company Information
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| Company Number |
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| Registered Office | Hale Mount Hale Road |
| Hale Barns | |
| Altrincham | |
| Cheshire | |
| WA15 8SW | |
| Accountants |
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| Chartered Accountants | |
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| 56 Manchester Road | |
| Altrincham | |
| Cheshire | |
| WA14 4PJ | |
Ringway Golf Club Limited
Abridged Balance Sheet
As at
30 September 2022
Abridged Balance Sheet
Registered number:
00238208
For the year ending 30 September 2022 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
All of the company's members have consented to the preparation of an Abridged Income and Expenditure Account and an Abridged Balance Sheet for the year end 30 September 2022 in accordance with section 444(2A) of the Companies Act 2006.
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | (197,733) | (165,265) | |||
| NET ASSETS |
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| Income and Expenditure Account |
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| MEMBERS' FUNDS | 1,241,063 | 945,485 | |||
Ringway Golf Club Limited
Abridged Balance Sheet (continued)
As at
30 September 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
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The notes on pages 4 to 6 form part of these financial statements.
Ringway Golf Club Limited
Notes to the Abridged Financial Statements
For The Year Ended
30 September 2022
Notes to the Abridged Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
The company forecasts and projections, taking account of reasonable possible changes in trading performance, shows that the company should be able to operate within the level of its current liabilities. As a consequence, the Directors believe that the company is well placed to manage its business risks successfully. The Directors are satisfied that the Company has adequate resources available to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
1.3.
Turnover
Turnover represents members’ subscriptions and other golfing and ancillary income receivable from members and visitors, which is recognised on provision of services. Subscriptions are apportioned on a time basis. The unrecognised element of subscriptions receivable relating to future periods is held within creditors as deferred income.
1.4.
Tangible Fixed Assets and Depreciation
Depreciation is provided on a straight-line basis in order to write off each asset over its estimated useful life or, if held under a financial lease, over the terms of the lease, whichever is the shorter.
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1.5.
Leasing and Hire Purchase Contracts
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed on to the company, and hire purchase contracts are capitalised in the balance sheet and depreciated over the shorter of the lease term and their existing useful lives.
The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the income statement on a straight-line basis over the period of the lease.
1.6.
Stocks and Work in Progress
Stock is valued at the lower of cost and net realisable value, after due allowances for obsolete and slow-moving items.
1.7.
Financial Instruments
The company only holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities are measured as follows:
Financial Assets
Trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost.
Cash at bank is classified as a basic financial instrument and is measured at face value.
Financial liabilities
Trade creditors, accruals and other creditors are financial instruments, measured at amortised costs. Taxation and social security are not included in the financial instruments disclosure definition.
Ringway Golf Club Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended
30 September 2022
1.8.
Taxation
The charge for the year is based on the results of the year. There is no provision for deferred tax. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantially enacted by the balance sheet date. Irrecoverable VAT is recognised separately to the category of expenditure to which it relates.
1.9.
Pensions
When the company makes contributions to an employee’s pension plan such costs are recognised in the income statement as they are incurred.
1.10.
Government Grant
Government grants are accounted for on an accrual basis. They are appllied to the year to which they relate and in which the relevant expenditure has been incurred.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 39 (2021: 30)
3.
Tangible Assets
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4.
Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
| 2022 | 2021 | ||
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| Net obligations under finance lease and hire purchase contracts | 107,989 | 37,407 |
Ringway Golf Club Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended
30 September 2022
5.
Obligations Under Finance Leases and Hire Purchase
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| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
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| Between one and five years |
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6.
Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable for the year are charged to the profit and loss account.
The pension charge for the year was £8,776 (2021: £7,570). The amount outstanding at the year end was £5,562
2021: £1,641).