Bigbury Bay Golf Club Limited - Accounts to registrar (filleted) - small 23.1.2
Bigbury Bay Golf Club Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 |
| FOR |
| Bigbury Bay Golf Club Limited |
| Bigbury Bay Golf Club Limited (Registered number: 06929632) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 28 February 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 8 |
| Bigbury Bay Golf Club Limited |
| COMPANY INFORMATION |
| for the year ended 28 February 2023 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| 129 North Hill |
| Plymouth |
| Devon |
| PL4 8JY |
| Bigbury Bay Golf Club Limited (Registered number: 06929632) |
| BALANCE SHEET |
| 28 February 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investments | 5 |
| Current assets |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current (liabilities)/assets | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
| Net assets |
| Reserves |
| Retained earnings | 10 |
| Bigbury Bay Golf Club Limited (Registered number: 06929632) |
| BALANCE SHEET - continued |
| 28 February 2023 |
| 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 profit or loss 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Bigbury Bay Golf Club Limited (Registered number: 06929632) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 28 February 2023 |
| 1. | STATUTORY INFORMATION |
| Bigbury Bay Golf Club Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Bigbury Bay Golf Club Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
| Turnover includes: |
| Revenue from membership subscriptions - recognised on a year basis to 28 February. |
| The sale of goods - recognised upon receipt. |
| Donations received - recognised upon receipt. |
| Management fee from subsidiary company - recognised upon receipt. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off ech asset over its estimated useful life. |
| Club buildings and improvements | On a straight line basis over the shorter of the period of the lease or the estimated life of the asset ranging betwen 4% and 8% |
| Course improvements | On a straight line basis over the shorter of the period of the lease or the estimated life of the asset ranging between 4% and 8% |
| Fixtures, equipment, machinery and tools | between 10% and 15% on a reducing balance basis |
| The company capitalises assets with a cost in excess of £500. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. If the directors consider that there has been a permanent diminution in value of an investment such that its value is less than cost then a provision is made to reflect this in the year that it is identified. |
| Bigbury Bay Golf Club Limited (Registered number: 06929632) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 28 February 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
| Taxation |
| As the company is a CASC and the income derived from provision of services to non-members is below the taxable threshold, no corporation tax liability arises. |
| Debtors |
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
| Creditors |
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
| Provisions |
| Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Bigbury Bay Golf Club Limited (Registered number: 06929632) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 28 February 2023 |
| 4. | TANGIBLE FIXED ASSETS |
| Club | Fixtures |
| buildings | equipment |
| and | Course | machinery |
| improvements | improvements | and tools | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 March 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 28 February 2023 |
| Depreciation |
| At 1 March 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 28 February 2023 |
| Net book value |
| At 28 February 2023 |
| At 28 February 2022 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| At 1 March 2022 |
| and 28 February 2023 |
| Net book value |
| At 28 February 2023 |
| At 28 February 2022 |
| Bigbury Bay Golf Club Limited (Registered number: 06929632) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 28 February 2023 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: The Club House, Bigbury Bay Golf Club, Bigbury, Kingsbridge, TQ7 4BB. |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2023 | 2022 |
| £ | £ |
| Aggregate capital and reserves |
| (Loss)/profit for the year | ( |
) |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Finance leases |
| Trade creditors |
| Rent settlement accrual | 160,000 | - |
| Amounts owed to group undertakings |
| Other creditors |
| Deferred grants |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans - 2-5 years |
| Finance leases |
| Bigbury Bay Golf Club Limited (Registered number: 06929632) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 28 February 2023 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Finance leases | 60,740 | 21,113 |
| 10. | RESERVES |
| The company receives voluntary donations under Gift Aid which are accumulating as a development fund in a dedicated bank account. These funds are being used solely to help finance major enhancement projects for the benefit of members. None of the fund has been, or will be, used to meet general running expenses of the club. The funds are held within retained earnings. At the balance sheet date £10,051 is held in the dedicated bank account. |
| 11. | LIMITED BY GUARANTEE |
| The company is limited by guarantee and does not have a share capital. In the event of the company being wound up each member is limited to a liability of £1. |