Hillsborough Golf Club Limited - Period Ending 2015-12-31

Registration number: 00301459

Hillsborough Golf Club Limited

(A company limited by guarantee)

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
S1 1WR

Hillsborough 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
Hillsborough Golf Club Limited
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hillsborough Golf Club Limited for the year ended 31 December 2015 set out on pages 4 to 13 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 Hillsborough 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 Hillsborough 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 Hillsborough 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 Hillsborough 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 profit of Hillsborough Golf Club Limited. You consider that Hillsborough 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 Hillsborough 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.

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

Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
S1 1WR

3 March 2016

Page 1

Hillsborough Golf Club Limited
(Registration number: 00301459)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			268,623			265,229
Current assets
Stocks					7,328			6,875
Debtors					37,674			12,681
Cash at bank and in hand					105,201			14,065
					150,203			33,621
Creditors: Amounts falling due within one year		3			(262,282)			(217,448)
Net current liabilities					(112,079)			(183,827)
Total assets less current liabilities					156,544			81,402
Creditors: Amounts falling due after more than one year		3			(99,927)			(73,940)
Net assets					56,617			7,462
Capital and reserves
Profit and loss account					56,617			7,462

For the year ending 31 December 2015 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 January 2015).

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

Hillsborough Golf Club Limited
(Registration number: 00301459)
Abbreviated Balance Sheet at 31 December 2015
......... continued

Approved by the Board on 3 March 2016 and signed on its behalf by:

.........................................
N Leatherland
Director

.........................................
I Graham
Director

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

Hillsborough Golf Club Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... 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 January 2015).

Turnover

Turnover represents the income of the club, including the subscription income and green fees which are exempt from value added tax, and the bar takings and other income which are net of value added tax.

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
Plant and machinery etc	25% on cost, 20% on cost, 15% on cost and 10% on cost

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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences bewteen the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 4

Hillsborough Golf Club Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation 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. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		861,154			861,154
Additions		33,850			33,850
Disposals		(81,672)			(81,672)
At 31 December 2015		813,332			813,332
Depreciation
At 1 January 2015		595,925			595,925
Charge for the year		18,104			18,104
Eliminated on disposals		(69,320)			(69,320)
At 31 December 2015		544,709			544,709
Net book value
At 31 December 2015		268,623			268,623
At 31 December 2014		265,229			265,229

Page 5

Hillsborough Golf Club Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

3

Creditors

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

		2015 £			2014 £
Amounts falling due within one year		21,953			42,718
Amounts falling due after more than one year		45,760			73,940
Total secured creditors		67,713			116,658

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

		2015 £			2014 £
After more than five years not by instalments		39,357			30,323

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 £5 towards the assets of the company in the event of liquidation.

Page 6