Morecambe Golf Club Limited Filleted accounts for Companies House (small and micro)

MORECAMBE GOLF CLUB LIMITED(THE) - Company Information

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COMPANY REGISTRATION NUMBER: 00182098

MORECAMBE GOLF CLUB LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2023

MORECAMBE GOLF CLUB LIMITED

BALANCE SHEET

31 December 2023

	2023		2022
Note	£	£	£

FIXED ASSETS

Tangible assets	5		575,422	589,985

CURRENT ASSETS

Stocks		18,461	18,094
Debtors	6	24,284	28,339
Cash at bank and in hand		204,069	217,435
		--------	--------
		246,814	263,868

CREDITORS: amounts falling due within one year	7	184,890		187,315
		--------		--------
NET CURRENT ASSETS			61,924	76,553
			--------	--------
TOTAL ASSETS LESS CURRENT LIABILITIES			637,346	666,538
			--------	--------
NET ASSETS			637,346	666,538
			--------	--------

CAPITAL AND RESERVES

Called up share capital	7,021	7,021
Profit and loss account	630,325	659,517
	--------	--------
SHAREHOLDERS FUNDS	637,346	666,538
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 31st December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 13 February 2024 , and are signed on behalf of the board by:

Miss R Rogers (President)	Mr G Farrell (Captain)
Director	Director

Company registration number: 00182098

MORECAMBE GOLF CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st DECEMBER 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Club House, Happy Mount, Morecambe, LA4 6AJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property and course equipment	-	Leasehold property 3%, course improvements over 10 years
Course plant and equipment	-	Course machinery over 10 years, golf buggies over 5 years
Clubhouse fixtures and fittings	-	Clubhouse fixtures over 10 years, computer equipment over 3 years

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employees

The average number of persons employed by the company during the year amounted to 31 (2022: 30 ).

5. Tangible assets

Leasehold Property and Course Improvements	Course Plant and Equipment	Clubhouse Fixtures and Fittings	Total
£	£	£	£

Cost
At 1st January 2023	987,235	544,231	286,022	1,817,488
Additions	–	53,022	4,444	57,466
Disposals	–	( 39,991)	( 2,855)	( 42,846)
	--------	--------	--------	----------
At 31st December 2023	987,235	557,262	287,611	1,832,108
	--------	--------	--------	----------
Depreciation
At 1st January 2023	647,984	363,229	216,290	1,227,503
Charge for the year	19,915	34,828	14,523	69,266
Disposals	–	( 38,644)	( 1,439)	( 40,083)
	--------	--------	--------	----------
At 31st December 2023	667,899	359,413	229,374	1,256,686
	--------	--------	--------	----------
Carrying amount
At 31st December 2023	319,336	197,849	58,237	575,422
	--------	--------	--------	----------
At 31st December 2022	339,251	181,002	69,732	589,985
	--------	--------	--------	----------

6. Debtors

	2023	2022
	£	£

Prepayments and accrued income	20,322	20,729
Other debtors	3,962	7,610
	-------	-------
	24,284	28,339
	-------	-------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£

Trade creditors	31,238	25,489
Accruals and deferred income	17,848	19,403
Social security and other taxes	18,102	15,950
Subscriptions in advance	86,994	101,662
Other creditors	30,708	24,811
	--------	--------
	184,890	187,315
	--------	--------

8. Leasehold land

The lease expires on the 18th March 2242.

9. Capital commitments

At 31st December 2023 there were capital commitments of £0 excluding VAT (2022 - £0).

10. Ultimate controlling party

Ultimate control of the company lies with the members.