Hainault Golf Country Club Ltd Company Accounts

Hainault Golf Country Club Ltd Company Accounts

HAINAULT GOLF COUNTRY CLUB LTD - Company Information

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COMPANY REGISTRATION NUMBER: 08986368
HAINAULT GOLF COUNTRY CLUB LTD
Company Limited by Guarantee
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2016
HAINAULT GOLF COUNTRY CLUB LTD
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2016
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3 to 5
The following pages do not form part of the financial statements
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
7
HAINAULT GOLF COUNTRY CLUB LTD
COMPANY LIMITED BY GUARANTEE
OFFICERS AND PROFESSIONAL ADVISERS
Director
T Pham
Registered office
215 Mare Street
Hackney
United Kingdom
E8 3QE
Accountants
BSG Valentine
Chartered Accountants
Lynton House
7 - 12 Tavistock Square
London
WC1H 9BQ
HAINAULT GOLF COUNTRY CLUB LTD
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
31 December 2016
2016
2015
Note
£
£
£
£
Current assets
Debtors
6
12,374
4,285
Cash at bank and in hand
2,897
4,867
--------
-------
15,271
9,152
Creditors: amounts falling due within one year
7
( 13,715)
( 8,170)
--------
-------
Net current assets
1,556
982
-------
----
Total assets less current liabilities
1,556
982
-------
----
Net assets
1,556
982
-------
----
Capital and reserves
Profit and loss account
1,556
982
-------
----
Members funds
1,556
982
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 September 2017 , and are signed on behalf of the board by:
T Pham
Director
Company registration number: 08986368
HAINAULT GOLF COUNTRY CLUB LTD
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2016
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 215 Mare Street, Hackney, E8 3QE, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Company limited by guarantee
The company is limited by guarantee. The liability of members is limited by the company's Memorandum of Association to a sum not exceeding £1 per member.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2015: 17 ).
6. Debtors
2016
2015
£
£
Other debtors
12,374
4,285
--------
-------
7. Creditors: amounts falling due within one year
2016
2015
£
£
Corporation tax
–
247
Social security and other taxes
4,215
5,423
Other creditors
9,500
2,500
--------
-------
13,715
8,170
--------
-------
8. Related party transactions
The company was under the control of Mr T Pham throughout the current year.
9. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.
No transitional adjustments were required in equity or profit or loss for the year.
HAINAULT GOLF COUNTRY CLUB LTD
COMPANY LIMITED BY GUARANTEE
MANAGEMENT INFORMATION
YEAR ENDED 31 DECEMBER 2016
The following pages do not form part of the financial statements.
HAINAULT GOLF COUNTRY CLUB LTD
COMPANY LIMITED BY GUARANTEE
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HAINAULT GOLF COUNTRY CLUB LTD
YEAR ENDED 31 DECEMBER 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hainault Golf Country Club Ltd for the year ended 31 December 2016, which comprise the statement of financial position and the related notes 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Hainault Golf Country Club Ltd in accordance with the terms of our engagement letter dated 21 April 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Hainault Golf Country Club Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hainault Golf Country Club Ltd and its director for our work or for this report.
It is your duty to ensure that Hainault Golf Country Club Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hainault Golf Country Club Ltd. You consider that Hainault Golf Country Club Ltd 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 financial statements of Hainault Golf Country Club Ltd. 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 financial statements.
BSG Valentine Chartered Accountants
Lynton House 7 - 12 Tavistock Square London WC1H 9BQ
27 September 2017