Pleasington Golf Club Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 12504899 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Pleasington Golf Club Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P M Bedford

Miss S J Caton

J A Covill

A Hussain

E J Knowles

M C Lomas

REGISTERED OFFICE:

Pleasington Lane

Pleasington

Blackburn

Lancashire

BB2 5JF

REGISTERED NUMBER:

12504899 (England and Wales)

ACCOUNTANTS:

Mayes Business Partnership Ltd

Chartered Certified Accountants

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Tangible assets

4

893,594

777,294

Investments

5

4,054

4,054

897,648

781,348

CURRENT ASSETS

Stocks

15,619

15,619

Debtors

22,514

20,832

Cash at bank and in hand

464,998

429,795

503,131

466,246

CREDITORS

Amounts falling due within one year

810,780

664,705

NET CURRENT LIABILITIES

(307,649

)

(198,459

)

TOTAL ASSETS LESS CURRENT LIABILITIES

589,999

582,889

CREDITORS

Amounts falling due after more than one year

23,334

33,333

NET ASSETS

566,665

549,556

RESERVES

Income and expenditure account

566,665

549,556

566,665

549,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 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 26 June 2023 and were signed on its behalf by:

P M Bedford - Director

A Hussain - Director

1.	STATUTORY INFORMATION

Pleasington Golf Club Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The financial statements have been prepared on a going concern basis. The company has net current liabilities in the current financial period. The company is always likely to face this situation due to the timing of the subscription year and therefore deferred income, whilst the continued investment in facilities, which enhances the fixed asset values, are excluded from the net current assets/liabilities calculation. Overall the company remains on a secure financial footing following incorporation.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company provides golfing facilities to the members. Revenue from those members is recognised in the accounting period in which the use of the facilities will take place. The company has a subscription year which is co-terminus with the accounting year end and as such any subscriptions received relating to the next accounting year is deferred into that future period.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on cost

Computer equipment

-

15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

893,448

Additions

207,700

At 31 March 2023

1,101,148

DEPRECIATION

At 1 April 2022

116,154

Charge for year

91,400

At 31 March 2023

207,554

NET BOOK VALUE

At 31 March 2023

893,594

At 31 March 2022

777,294

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2022

and 31 March 2023

4,054

NET BOOK VALUE

At 31 March 2023

4,054

At 31 March 2022

4,054

The fixed asset investments represent shares held in Pleasington Golf Links Company Limited.

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31/3/23

31/3/22

£

£

Net obligations repayable:

Within one year

-

2,658

Non-cancellable operating

leases

31/3/23

31/3/22

£

£

Within one year

4,105

12,841

Between one and five years

9,817

27,861

13,922

40,702

7.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of the members of the Golf Club and managed by the appointed Board of Directors.