City of Wakefield Golf Club 2013 Limited - Period Ending 2017-03-31

Registration number: 08530576

City of Wakefield Golf Club 2013 Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2017

R A Lister
Chartered Accountants
14 Rishworth Street
Wakefield
West Yorkshire
WF1 3BY

City of Wakefield Golf Club 2013 Limited

Contents

Company Information	1
Accountants' Report	2
Statement of Comprehensive Income	3
Abridged Balance Sheet	4 to 5
Statement of Changes in Equity	6
Notes to the Abridged Financial Statements	7 to 11

City of Wakefield Golf Club 2013 Limited

Company Information

Directors

Mr A A Earnshaw Mr R Tomlinson

Registered office

The Gaskell Sports Pavillion Horbury Road Wakefield WF2 8LG

Accountants

R A Lister Chartered Accountants 14 Rishworth Street Wakefield West Yorkshire WF1 3BY

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
City of Wakefield Golf Club 2013 Limited
for the Year Ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of City of Wakefield Golf Club 2013 Limited for the year ended 31 March 2017 as set out on pages 3 to 11 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
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of City of Wakefield Golf Club 2013 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 City of Wakefield Golf Club 2013 Limited and state those matters that we have agreed to state to the Board of Directors of City of Wakefield Golf Club 2013 Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than City of Wakefield Golf Club 2013 Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that City of Wakefield Golf Club 2013 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 City of Wakefield Golf Club 2013 Limited. You consider that City of Wakefield Golf Club 2013 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 City of Wakefield Golf Club 2013 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.

R A Lister
Chartered Accountants
14 Rishworth Street
Wakefield
West Yorkshire
WF1 3BY

20 June 2017

Page 2

City of Wakefield Golf Club 2013 Limited

Statement of Comprehensive Income for the Year Ended 31 March 2017

	Note	2017 £	2016 £
Surplus/(deficit) for the year		197	(2,778)
Total comprehensive income for the year		197	(2,778)

The notes on pages 7 to 11 form an integral part of these abridged financial statements.

Page 3

City of Wakefield Golf Club 2013 Limited

(Registration number: 08530576)
Abridged Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	2,940	2,269
Current assets
Stocks	5	2,030	1,889
Cash at bank and in hand		13,978	12,070
		16,008	13,959
Prepayments and accrued income		58	2,316
Creditors: Amounts falling due within one year		(23,992)	(23,487)
Net current liabilities		(7,926)	(7,212)
Total assets less current liabilities		(4,986)	(4,943)
Accruals and deferred income		(4,084)	(4,324)
Net liabilities		(9,070)	(9,267)
Capital and reserves
Profit and loss account		(9,070)	(9,267)
Total equity		(9,070)	(9,267)

For the financial year ending 31 March 2017 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 of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

The notes on pages 7 to 11 form an integral part of these abridged financial statements.

Page 4

City of Wakefield Golf Club 2013 Limited

(Registration number: 08530576)
Abridged Balance Sheet as at 31 March 2017

Approved and authorised by the Board on 20 June 2017 and signed on its behalf by:
 

Mr R Tomlinson

Director

The notes on pages 7 to 11 form an integral part of these abridged financial statements.

Page 5

City of Wakefield Golf Club 2013 Limited

Statement of Changes in Equity for the Year Ended 31 March 2017

	Profit and loss account £	Total £
At 1 April 2016	(9,267)	(9,267)
Surplus for the year	197	197
Total comprehensive income	197	197
At 31 March 2017	(9,070)	(9,070)

	Profit and loss account £	Total £
At 1 June 2015	(6,489)	(6,489)
Deficit for the year	(2,778)	(2,778)
Total comprehensive income	(2,778)	(2,778)
At 31 March 2016	(9,267)	(9,267)

The notes on pages 7 to 11 form an integral part of these abridged financial statements.

Page 6

City of Wakefield Golf Club 2013 Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a company limited by guarantee incorporated in England.

The address of its registered office is:
The Gaskell Sports Pavillion
Horbury Road
Wakefield
WF2 8LG

These financial statements were authorised for issue by the Board on 20 June 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Fixtures and fittings	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 7

City of Wakefield Golf Club 2013 Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2016 - 4).

Page 8

City of Wakefield Golf Club 2013 Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2017

4	Tangible assets

	Total £
Cost or valuation
At 1 April 2016	3,716
Additions	1,650
At 31 March 2017	5,366
Depreciation
At 1 April 2016	1,447
Charge for the period	979
At 31 March 2017	2,426
Carrying amount
At 31 March 2017	2,940
At 31 March 2016	2,269

5

Stocks

	2017 £	2016 £
Other inventories	2,030	1,889

6	Transition to FRS 102

Balance Sheet at 1 June 2015
 

	Note	As originally reported £	Reclassification £	Remeasurement £	As restated £
Capital and reserves
Total equity		-	-	-	-

Page 9

City of Wakefield Golf Club 2013 Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2017

Balance Sheet at 31 March 2016
 

	Note	As originally reported £	Reclassification £	Remeasurement £	As restated £
Capital and reserves
Total equity		-	-	-	-

Page 10

City of Wakefield Golf Club 2013 Limited

Notes to the Abridged Financial Statements for the Year Ended 31 March 2017

Profit and Loss Account for the period from 1 June 2015 to 31 March 2016
 

	Note	As originally reported £	Reclassification £	Remeasurement £	As restated £
Turnover		-	-	-	-
Operating surplus/(deficit)		-	-	-	-
Surplus/(deficit) before tax		-	-	-	-
Surplus/(deficit) for the financial year		-	-	-	-

Page 11