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

REGISTERED NUMBER: 00498062 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

PRESTON GOLF CLUB LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Stewart Michael Birchall

Anthony Francis Betteridge

Richard James Ward

Edward Crewdson

REGISTERED OFFICE:

Fulwood Old Hall

Fulwood Hall Lane

Preston

Lancashire

PR2 8DD

REGISTERED NUMBER:

00498062 (England and Wales)

AUDITORS:

Wallwork Nelson & Johnson

Chartered Accountants & Statutory Auditors

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Tangible assets

4

1,875,730

1,756,476

CREDITORS

Amounts falling due within one year

5

1,201,882

1,061,171

NET CURRENT LIABILITIES

(1,201,882

)

(1,061,171

)

TOTAL ASSETS LESS CURRENT LIABILITIES

673,848

695,305

CAPITAL AND RESERVES

Called up share capital

17

17

Capital redemption reserve

2

2

Other reserves

538,746

538,746

Retained earnings

135,083

156,540

SHAREHOLDERS' FUNDS

673,848

695,305

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2024 and were signed on its behalf by:

Stewart Michael Birchall - Director

Richard James Ward - Director

1.	STATUTORY INFORMATION

Preston Golf Club Limited is a private company, limited by shares , registered in England and Wales. 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.

Tangible fixed assets

Depreciation has been provided to write off the cost of tangible fixed assets over their expected useful lives using the following rates:

Course irrigation system

5% per annum on cost

Golf academy buildings

2% per annum on cost

No depreciation has been charged on freehold buildings, on the grounds that it would be immaterial.

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.

Going concern

On the basis of their assessment of the company's financial position, the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus continuing to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 October 2022

2,343,285

Additions

150,883

At 30 September 2023

2,494,168

DEPRECIATION

At 1 October 2022

586,809

Charge for year

31,629

At 30 September 2023

618,438

NET BOOK VALUE

At 30 September 2023

1,875,730

At 30 September 2022

1,756,476

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other creditors

1,201,882

1,061,171

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

The Report of the Auditors was unqualified.

P Woodburn FCA (Senior Statutory Auditor)

for and on behalf of Wallwork Nelson & Johnson

7.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.