The Ashbourne Golf Club Limited - Period Ending 2014-02-28

Registration number: 01485528

The Ashbourne Golf Club Limited

(A company limited by guarantee)

Unaudited Abbreviated Accounts

for the Year Ended 28 February 2014
 

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

The Ashbourne Golf Club Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Ashbourne Golf Club Limited
for the Year Ended 28 February 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Ashbourne Golf Club Limited for the year ended 28 February 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of The Ashbourne Golf Club Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Ashbourne Golf Club Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Ashbourne Golf Club Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Ashbourne Golf Club Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of The Ashbourne Golf Club Limited. You consider that The Ashbourne Golf Club Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Ashbourne Golf Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Coates and Partners Limited
Chartered Accountants
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

26 June 2014

Page 1

The Ashbourne Golf Club Limited
(Registration number: 01485528)
Abbreviated Balance Sheet at 28 February 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			1,427,241			1,426,185
Current assets
Stocks					6,863			7,973
Debtors					12,669			2,664
Cash at bank and in hand					43,696			40,154
					63,228			50,791
Creditors: Amounts falling due within one year		3			(254,559)			(432,692)
Net current liabilities					(191,331)			(381,901)
Total assets less current liabilities					1,235,910			1,044,284
Creditors: Amounts falling due after more than one year					(891,540)			(676,282)
Net assets					344,370			368,002
Capital and reserves
Profit and loss account					344,370			368,002
Shareholders' funds					344,370			368,002

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

The Ashbourne Golf Club Limited
(Registration number: 01485528)
Abbreviated Balance Sheet at 28 February 2014
......... continued

For the year ending 28 February 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

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 accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved and authorised for issue by the Board on 26 June 2014 and signed on its behalf by:

.........................................
B Bembridge
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

The Ashbourne Golf Club Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of fees and goods to customers and members.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Buildings	straight line between 50 and 10 years
Land	not depreciated
Course development	not depreciated and straight line between 50 and 10 years
Plant and machinery	straight line over 10, 7 and 4 years
Fixtures and fittings	straight line over 7 years
Computer equipment	straight line over 3 years
Trophies	not depreciated

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 4

The Ashbourne Golf Club Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2013		1,685,730			1,685,730
Additions		30,427			30,427
At 28 February 2014		1,716,157			1,716,157
Depreciation
At 1 March 2013		259,545			259,545
Charge for the year		29,371			29,371
At 28 February 2014		288,916			288,916
Net book value
At 28 February 2014		1,427,241			1,427,241
At 28 February 2013		1,426,185			1,426,185

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		42,270			42,280
Amounts falling due after more than one year		521,452			602,944
Total secured creditors		563,722			645,224

Included in the creditors are the following amounts due after more than five years:

		2014 £			2013 £
After more than five years by instalments		352,372			433,824

Page 5

The Ashbourne Golf Club Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2014
......... continued

4	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

5

Control

The company is controlled by the committee members of the club.

Page 6