St Patrick's Golf Club, Downpatrick Ltd. - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: NI010660 (Northern Ireland)

Financial Statements

FOR THE YEAR ENDED

31 December 2022

for

ST PATRICK'S GOLF CLUB, DOWNPATRICK LTD.

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L Craig

D Carson

N Traynor

J Mageean

J Torney

P Totton

R McCormick

Dr D McBrinn

I Cranston

M Murphy

Mrs A Rooney

SECRETARY:

J Torney

REGISTERED OFFICE:

The Secretary

43 Saul Road

Downpatrick

Co. Down

BT30 6PA

REGISTERED NUMBER:

NI010660 (Northern Ireland)

AUDITORS:

M.B.Mc Grady & Co

Chartered Accountants

Statutory Auditors

Rathmore House

52 St Patricks Avenue

Downpatrick

Co. Down

BT30 6DS

FIXED ASSETS

Tangible assets

4

949,771

937,013

CURRENT ASSETS

Stocks

8,433

6,460

Debtors

8,935

6,937

Cash at bank and in hand

113,036

194,557

130,404

207,954

CREDITORS

Amounts falling due within one year

116,840

123,019

NET CURRENT ASSETS

13,564

84,935

TOTAL ASSETS LESS CURRENT LIABILITIES

963,335

1,021,948

CREDITORS

Amounts falling due after more than one year

192,174

223,496

NET ASSETS

771,161

798,452

RESERVES

Income and expenditure account

771,161

798,452

771,161

798,452

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 March 2023 and were signed on its behalf by:

J Torney - Director

R McCormick - Director

1.	STATUTORY INFORMATION

St Patrick's Golf Club, Downpatrick Ltd. is a private company, limited by guarantee , registered in Northern Ireland. 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 at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 10% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2021 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

1,913,598

Additions

44,027

At 31 December 2022

1,957,625

DEPRECIATION

At 1 January 2022

976,585

Charge for year

31,269

At 31 December 2022

1,007,854

NET BOOK VALUE

At 31 December 2022

949,771

At 31 December 2021

937,013

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 January 2022

and 31 December 2022

46,343

DEPRECIATION

At 1 January 2022

11,586

Charge for year

8,689

At 31 December 2022

20,275

NET BOOK VALUE

At 31 December 2022

26,068

At 31 December 2021

34,757

5.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/22

31/12/21

£

£

Bank loans

185,769

214,351

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Conaill McGrady (Senior Statutory Auditor)

for and on behalf of M.B.Mc Grady & Co