The West Hill Golf Club (1959) Ltd

THE WEST HILL GOLF CLUB (1959) LIMITED - Company Information

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Registered number: 00635571

Abbreviated accounts

For The Year Ended 30 June 2015

SVE Bookkeeping Services Limited

13 Foxenden Road

Guildford

Surrey

GU1 4DL

The West Hill Golf Club (1959) Ltd

Company No. 00635571

Abbreviated Balance Sheet 30 June 2015

Abbreviated Balance Sheet

		2015		2014
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		2,868,511		2,940,665

			2,868,511		2,940,665
CURRENT ASSETS
Stocks		19,350		17,452
Debtors		84,719		99,648
Cash at bank and in hand		433,383		512,997

		537,452		630,097
Creditors: Amounts Falling Due Within One Year		(858,999)		(970,393)

NET CURRENT ASSETS (LIABILITIES)			(321,547)		(340,296)

TOTAL ASSETS LESS CURRENT LIABILITIES			2,546,964		2,600,369

Creditors: Amounts Falling Due After More Than One Year	3		(399,995)		(441,410)

NET ASSETS			2,146,969		2,158,959

CAPITAL AND RESERVES
Called up share capital	4		26,766		26,732
Share premium account			1,628,261		1,546,871
Revaluation reserve			1,569,662		1,569,662
Profit and Loss Account			(1,077,720)		(984,306)

SHAREHOLDERS' FUNDS			2,146,969		2,158,959

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The West Hill Golf Club (1959) Ltd

Company No. 00635571

Abbreviated Balance Sheet (continued) 30 June 2015

For the year ending 30 June 2015 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

On behalf of the board

Mr J H McKimmie	Mr D Alvis
08/09/2015

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The West Hill Golf Club (1959) Ltd

Notes to the Abbreviated Accounts

For The Year Ended 30 June 2015

Notes to the Abbreviated Accounts

Accounting Policies

Basis of Preparation of Financial Statements

At 30 June 2015 the company had a deficiency of current assets over current liabilities totalling £321,547 (2014 £340,296). The company meets its day to day working capital requirements through a variety of funding sources, primarily loan finance and an overdraft facility from its bankers together with member loans and loan notes. The company expects to operate in the foreseeable future within the facility currently arranged and expects for those to be agreed and continued at their current levels.

The Company also expects that any requests for repayment of 1998 loan notes can be met through existing arrangements.

On such a basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Statement of Cash Flow

The company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax.

Tangible Fixed Assets and Depreciation

The freehold property was revalued in 1998. No depreciation is provided on the revaluation amount as the directors consider that this accounting policy results in the financial statements giving a true and fair view. The effect of this departure from the Companies Act 2006 has not been quantified because it is impractical.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	5% - 33% straight line basis
Plant & Machinery	10% - 20% straight line basis

Leasing and Hire Purchase Contracts

Where assets are financed by leasing agreements that give rights approximating to ownership ("finance leases"), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable during the lease term. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight-line basis over the term of the lease.

Stocks and Work in Progress

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

Deferred Taxation

Deferred tax liabilities are recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Deferred tax assets are not recognised in the financial statements where there exists, in the opinion of the directors, significant uncertainty of the future realisation of such assets.

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The West Hill Golf Club (1959) Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 30 June 2015

Tangible Assets


	Total
Cost	£
As at 1 July 2014	4,416,068
Additions	144,339
Disposals	(106,685)

As at 30 June 2015	4,453,722

Depreciation
As at 1 July 2014	1,475,403
Provided during the period	190,328
Disposals	(80,520)

As at 30 June 2015	1,585,211

Net Book Value
As at 30 June 2015	2,868,511

As at 1 July 2014	2,940,665

Creditors: Amounts Falling Due After More Than One Year

	2015	2014
	£	£
Net obligations under finance lease and hire purchase contracts	93,733	93,131
Bank loans	58,432	83,709
Other creditors	247,830	264,570

	399,995	441,410

Of the creditors falling due within and after more than one year the following amounts are due after more than five years.

	2015		2014
	£		£

Secured Creditors

Of the creditors falling due within and after more than one year the following amounts are secured.

	2015		2014
	£		£

Share Capital

	Value	Number	2015	2014
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	26766	26,766	26,732

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