Chorley Golf Club Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09347409 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2023

FOR

CHORLEY GOLF CLUB LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D P Myers

Mrs J H Cartledge

P L Dodd

B A Rigby

Ms K A Leach

R Lal

D Wright

REGISTERED OFFICE:

Chorley Golf Club

Hall o'th' Hill

Heath Charnock

Chorley

PR6 9HX

REGISTERED NUMBER:

09347409 (England and Wales)

ACCOUNTANTS:

Ryans

Chartered Accountants

67 Chorley Old Road

Bolton

BL1 3AJ

BANKERS:

Handelsbanken

Unit 7B Edward VII Quay

Navigation Way

Preston

PR2 2YF

FIXED ASSETS

Tangible assets

4

952,632

966,942

CURRENT ASSETS

Stocks

26,500

21,540

Debtors

5

26,571

19,550

Cash at bank and in hand

99,422

59,793

152,493

100,883

CREDITORS

Amounts falling due within one year

6

306,317

271,084

NET CURRENT LIABILITIES

(153,824

)

(170,201

)

TOTAL ASSETS LESS CURRENT LIABILITIES

798,808

796,741

CREDITORS

Amounts falling due after more than one year

7

147,005

147,975

NET ASSETS

651,803

648,766

RESERVES

Income and expenditure account

651,803

648,766

651,803

648,766

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th February 2024 and were signed on its behalf by:

B A Rigby - Director

1.	STATUTORY INFORMATION

Chorley 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.

Turnover

Revenue, described as turnover, represents income from the operation of a golf club stated net of VAT.

Depreciation

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.

Clubhouse and course

-

at varying rates on cost

Plant, machinery and motor vehicle

-

20% on cost

Fixtures, fittings and equipment

-

20% on cost and 10% on cost

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 Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant,

Fixtures,

Clubhouse

machinery

fittings

and

and motor

and

course

vehicle

equipment

Totals

£

£

£

£

COST

At 1st December 2022

917,078

115,490

106,505

1,139,073

Additions

-

34,460

-

34,460

Disposals

-

(40,894

)

-

(40,894

)

At 30th November 2023

917,078

109,056

106,505

1,132,639

DEPRECIATION

At 1st December 2022

29,406

62,950

79,775

172,131

Charge for year

9,800

26,560

12,410

48,770

Eliminated on disposal

-

(40,894

)

-

(40,894

)

At 30th November 2023

39,206

48,616

92,185

180,007

NET BOOK VALUE

At 30th November 2023

877,872

60,440

14,320

952,632

At 30th November 2022

887,672

52,540

26,730

966,942

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

Plant,

machinery

and motor

vehicle

£

COST

At 1st December 2022

99,095

Additions

34,460

Disposals

(30,650

)

At 30th November 2023

102,905

DEPRECIATION

At 1st December 2022

51,865

Charge for year

23,285

Eliminated on disposal

(30,650

)

At 30th November 2023

44,500

NET BOOK VALUE

At 30th November 2023

58,405

At 30th November 2022

47,230

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Sundry debtors and prepayments

26,571

19,550

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Hire purchase contracts

18,082

16,327

Members subscriptions in advance

151,858

134,769

Sundry creditors and accruals

136,377

119,988

306,317

271,084

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Members loans

110,000

115,000

Hire purchase contracts

37,005

32,975

147,005

147,975

8.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

55,087

49,302