Vale Country Club Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04186778 (England and Wales)

Vale Country Club Limited

Unaudited Financial Statements

for the Year Ended 31 December 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr R W Jones

SECRETARY:

Mrs H L Jones

REGISTERED OFFICE:

Rhydwrial

Mold Road

Ruthin

Denbighshire

LL15 1SL

REGISTERED NUMBER:

04186778 (England and Wales)

ACCOUNTANTS:

Salisbury & Company

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

FIXED ASSETS

Tangible assets

4

308,060

254,798

CURRENT ASSETS

Stocks

15,160

12,658

Debtors

5

-

650

Investments

6

209,000

209,000

Cash at bank

9,581

28,865

233,741

251,173

CREDITORS

Amounts falling due within one year

7

564,243

515,603

NET CURRENT LIABILITIES

(330,502

)

(264,430

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(22,442

)

(9,632

)

CREDITORS

Amounts falling due after more than one year

8

12,000

13,441

NET LIABILITIES

(34,442

)

(23,073

)

CAPITAL AND RESERVES

Called up share capital

575,000

575,000

Retained earnings

(609,442

)

(598,073

)

(34,442

)

(23,073

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 20 September 2017 and were signed by:

Mr R W Jones - Director

1.	STATUTORY INFORMATION

Vale Country Club Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

straight line over the life of the lease

Plant and machinery etc

-

20% on reducing balance and 15% on reducing balance

Stocks

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

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Investments

Investments in land are held for re-sale and are therefore shown as current asset investments and carried at

their book value.

Operating leases

Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease

term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line

basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

Going concern

The company meets its day to day working capital requirements due to the continued financial support of its

director. The director therefore considers the going concern basis appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2016

332,648

477,802

810,450

Additions

82,299

9,865

92,164

At 31 December 2016

414,947

487,667

902,614

DEPRECIATION

At 1 January 2016

214,687

340,965

555,652

Charge for year

16,633

22,269

38,902

At 31 December 2016

231,320

363,234

594,554

NET BOOK VALUE

At 31 December 2016

183,627

124,433

308,060

At 31 December 2015

117,961

136,837

254,798

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Other debtors

-

650

6.	CURRENT ASSET INVESTMENTS

2016

2015

£

£

Unlisted investments

209,000

209,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

1,652

4,919

Taxation and social security

6,388

19,485

Other creditors

556,203

491,199

564,243

515,603

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Other creditors

12,000

13,441

9.	RELATED PARTY DISCLOSURES

At 31st December 2016, there was a loan owing to Mr R W Jones, the director, of £539,147 (2015: £485,271).

This is included within other creditors due after more than one year.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr R W Jones.