Abbreviated Company Accounts - WIMBLEDON PARK GOLF CLUB LIMITED(THE)

Abbreviated Company Accounts - WIMBLEDON PARK GOLF CLUB LIMITED(THE)

THE WIMBLEDON PARK GOLF CLUB - Company Information

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Registered Number 00462846

WIMBLEDON PARK GOLF CLUB LIMITED(THE)

Abbreviated Accounts

30 November 2016

WIMBLEDON PARK GOLF CLUB LIMITED(THE) Registered Number 00462846

Abbreviated Balance Sheet as at 30 November 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 3 2,620,058 2,538,426
2,620,058 2,538,426
Current assets
Stocks 42,761 34,633
Debtors 212,084 308,943
Investments 716,502 747,609
Cash at bank and in hand 621,168 193,327
1,592,515 1,284,512
Creditors: amounts falling due within one year (886,670) (649,229)
Net current assets (liabilities) 705,845 635,283
Total assets less current liabilities 3,325,903 3,173,709
Provisions for liabilities (12,224) (15,714)
Total net assets (liabilities) 3,313,679 3,157,995
Reserves
Income and expenditure account 3,313,679 3,157,995
Members' funds 3,313,679 3,157,995
  • For the year ending 30 November 2016 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.

Approved by the Board on 19 January 2017

And signed on their behalf by:
Vincent O'Brien, Director

WIMBLEDON PARK GOLF CLUB LIMITED(THE) Registered Number 00462846

Notes to the Abbreviated Accounts for the period ended 30 November 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Income Represents the total amount receivable from golf club activities during the year , exclusive of VAT where applicable ,and includes locker rent , subscriptions, entrance fees, green fees bar and catering sales

Subscription Income is recognised in full from the commencement of the membership year which is the same as the finaincial year. Entrance fees are recognised from the date of admission to a class of membership attracting such fees

Other income is recognised when the activities are undertaken

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation , depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows

Short leasehold Property - Straight line over the life of the lease and at 10% or 5% straight line

Plant and Machinery - 25% reducing balance or 5 year straight line assuming 20% residual value

Fixtures Fittings and Equipment - 25% reducing balance and 10% straight line.

Other accounting policies
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term

Investments
Current Asset investments are stated at the lower of cost and realisable value

Stock
Stock is valued at the lower of cost and net realisable value.

Pensions
the pension costs charge in the finaincial statements represent the contributions payable by the company during the year.

Deferred Taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation purposes. The deferred tax balance has not been discounted

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.

3Tangible fixed assets
£
Cost
At 1 December 2015 5,063,698
Additions 304,256
Disposals (84,009)
Revaluations -
Transfers -
At 30 November 2016 5,283,945
Depreciation
At 1 December 2015 2,525,272
Charge for the year 221,442
On disposals (82,827)
At 30 November 2016 2,663,887
Net book values
At 30 November 2016 2,620,058
At 30 November 2015 2,538,426