Cretingham Golf Club Ltd. - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 03667874 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

Cretingham Golf Club Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr T W Coe

Mr N A Jackson

Mrs K A Jackson

Mrs I R Coe

SECRETARY:

Mrs K A Jackson

REGISTERED OFFICE:

Grove Farm

Cretingham

WOODBRIDGE

Suffolk

IP13 7BA

REGISTERED NUMBER:

03667874 (England and Wales)

ACCOUNTANTS:

Turner & Ellerby

Chartered Certified Accountants

5 Church Street

Framlingham

Woodbridge

Suffolk

IP13 9BQ

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

1,026,538

1,016,438

Investment property

4

510,586

510,586

1,537,124

1,527,024

CURRENT ASSETS

Stocks

17,300

15,005

Debtors

8,250

13,790

Cash at bank

2,107

11,835

27,657

40,630

CREDITORS

Amounts falling due within one year

5

1,246,190

962,474

NET CURRENT LIABILITIES

(1,218,533

)

(921,844

)

TOTAL ASSETS LESS CURRENT LIABILITIES

318,591

605,180

CREDITORS

Amounts falling due after more than one year

5

436,431

691,280

NET LIABILITIES

(117,840

)

(86,100

)

CAPITAL AND RESERVES

Called up share capital

6

90

90

Profit and loss account

(117,930

)

(86,190

)

SHAREHOLDERS' FUNDS

(117,840

)

(86,100

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 profit or loss 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 March 2016 and were signed on its behalf by:

Mr N A Jackson - Director

Mr T W Coe - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

At the year end date the company was insolvent. In meeting the company's working capital

requirements the company is reliant on continued support and funding from it's bank and trade

facilities. On the basis that the directors considers it appropriate to prepare the financial statements

on a going concern basis, the financial statements do not include any adjustments that would result

from the withdrawal of their support.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1998, is being amortised evenly over its estimated useful life of ten years.

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

-

not provided

Improvements to property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Website & ITcosts

-

20% on cost

The directors consider that freehold properties are maintained in such a state of repair that their

residual value is at least equal to their net book value. As a result, the corresponding depreciation

would not be material and therefore is not charged in the profit and loss account.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in market value is transferred to a revaluation reserve.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

20,000

AMORTISATION

At 1 January 2015

and 31 December 2015

20,000

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

1,344,475

Additions

46,326

Disposals

(9,992

)

At 31 December 2015

1,380,809

DEPRECIATION

At 1 January 2015

328,037

Charge for year

30,151

Eliminated on disposal

(3,917

)

At 31 December 2015

354,271

NET BOOK VALUE

At 31 December 2015

1,026,538

At 31 December 2014

1,016,438

4.	INVESTMENT PROPERTY

Total

£

COST

At 1 January 2015

and 31 December 2015

510,586

NET BOOK VALUE

At 31 December 2015

510,586

At 31 December 2014

510,586

5.

CREDITORS

Creditors include an amount of £ 749,303 (2014 - £ 802,306 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

65,395

97,148

6.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2015

2014

value:

£

£

90

Share capital 1

£1

90

90