Andover Golf Club Limited (The) - Period Ending 2016-12-31

Registration number: 02130649

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

River View Tax & Accountancy Ltd
51A Basepoint Bus Ctr
Caxton Close
Andover
Hampshire
SP10 3FG

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

Contents

Company Information	1
Accountants' Report	2
Independent Examiner's Report	3
Statement of Comprehensive Income	4
Balance Sheet	5 to 6
Statement of Changes in Equity	7
Notes to the Financial Statements	8 to 13

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

Company Information

Directors

Mr Michael Batchelor Mr Mark R Gates Mr David Kettell Mrs Sharon M Leckie Mr David Sneddon Mr Les Watts

Company secretary

Mr Andrew A Cloke

Registered office

51 Winchester Road Andover Hampshire SP10 2EF

Accountants

River View Tax & Accountancy Ltd 51A Basepoint Bus Ctr Caxton Close Andover Hampshire SP10 3FG

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Andover Golf Club Limited (The)

trading as Andover Golf Club Limited
for the 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 accounts of Andover Golf Club Limited (The) for the year ended 31 December 2016 as 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 Chartered Institute of Management Accountants (CIMA) and the Chartered Institute of Taxation (CIoT), we are subject to their ethical and other professional requirements which are detailed at http://www.cimaglobal.com and http://www.tax.org.uk.

This report is made solely to the Board of Directors of Andover Golf Club Limited (The), as a body, in accordance with the terms of our engagement letter dated 1 June 2014. Our work has been undertaken solely to prepare for your approval the accounts of Andover Golf Club Limited (The) and state those matters that we have agreed to state to the Board of Directors of Andover Golf Club Limited (The), as a body, in this report in accordance with the requirement of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andover Golf Club Limited (The) and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Andover Golf Club Limited (The) 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 Andover Golf Club Limited (The). You consider that Andover Golf Club Limited (The) 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 Andover Golf Club Limited (The). 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.

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

River View Tax & Accountancy Ltd
51A Basepoint Bus Ctr
Caxton Close
Andover
Hampshire
SP10 3FG

29 September 2017

Page 2

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

Independent Examiners's Report

I have carried out a review of the accounting records kept by Andover Golf Club Limited (The) and prepared formal accounts from those records for the year ended 31 December 2016.

In connection with my examination, no matter has come to my attention;

(1) which gives me reasonable cause to believe that in any material respect the requirements:

• to keep accounting records; and
• to prepare accounts which accord with the accounting records

have not been met.

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached, with the exception of the comments below:

• during the year to 31st December 2016 the company lost it's CASC status. This has resulted in a small amount of corporation tax being due for the year. We would recommend that the company seek to have CASC status reinstated as soon as possible - while the corporation tax due for the year in question was minimal, it cannot be guaranteed that this will be the case in future years.

• during 2016 the company changed the accounts software being used. It is our opinion that the new software is significantly better that the previous software used, so in the long term we would consider this to be a positive move which will benefit the company, however, in the short term, the transition of balances to the new codes in the new software may have resulted in some reclassification of items. We do not consider the changes to be material or any cause for concern, but it is worth noting when comparing these accounts with previous years.
 

......................................
Gemma Merritt ACMA CTA
Chartered Management Accountant

River View Tax & Accountancy Ltd
51a Basepoint Business Centre
Caxton Close
Andover
Hampshire
SP10 3FG
,

29 September 2017

Page 3

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

Statement of Comprehensive Income for the Year Ended 31 December 2016

	Note	2016 £	2015 £
Surplus for the year		14,665	39,769
Total comprehensive income for the year		14,665	39,769

The notes on pages 8 to 13 form an integral part of these financial statements.

Page 4

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

(Registration number: 02130649)
Balance Sheet as at 31 December 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	4	15,378	15,460
Current assets
Stocks	5	2,897	2,872
Debtors	6	6,026	863
Cash at bank and in hand		97,391	83,980
		106,314	87,715
Creditors: Amounts falling due within one year	7	(28,820)	(24,968)
Net current assets		77,494	62,747
Net assets		92,872	78,207
Capital and reserves
Other reserves		77,540	77,540
Profit and loss account		15,332	667
Total equity		92,872	78,207

For the financial 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.

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.

The notes on pages 8 to 13 form an integral part of these financial statements.

Page 5

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

(Registration number: 02130649)
Balance Sheet as at 31 December 2016

Approved and authorised by the Board on 29 September 2017 and signed on its behalf by:
 

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

Mr Les Watts

Director

The notes on pages 8 to 13 form an integral part of these financial statements.

Page 6

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

Statement of Changes in Equity for the Year Ended 31 December 2016

	Other reserves £	Profit and loss account £	Total £
At 1 January 2016	77,540	667	78,207
Surplus for the year	-	14,665	14,665
Total comprehensive income	-	14,665	14,665
At 31 December 2016	77,540	15,332	92,872

	Other reserves £	Profit and loss account £	Total £
At 1 January 2015	77,540	(39,102)	38,438
Surplus for the year	-	39,769	39,769
Total comprehensive income	-	39,769	39,769
At 31 December 2015	77,540	667	78,207

The notes on pages 8 to 13 form an integral part of these financial statements.

Page 7

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

1	General information

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

The address of its registered office is:
51 Winchester Road
Andover
Hampshire
SP10 2EF
England

These financial statements were authorised for issue by the Board on 29 September 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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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
Long leasehold improvements	25% straight line basis
Plant & Machinery	25% straight line basis
Office and IT equipment	33% straight line basis
Furniture & Fittings	25% straight line basis

Page 8

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

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.

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 6 (2015 - 6).

Page 9

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 January 2016	192,629	80,286	122,395	395,310
Additions	4,150	3,331	500	7,981
At 31 December 2016	196,779	83,617	122,895	403,291
Depreciation
At 1 January 2016	192,603	72,713	114,534	379,850
Charge for the year	1,038	4,548	2,477	8,063
At 31 December 2016	193,641	77,261	117,011	387,913
Carrying amount
At 31 December 2016	3,138	6,356	5,884	15,378
At 31 December 2015	26	7,573	7,861	15,460

Included within the net book value of land and buildings above is £Nil (2015 - £Nil) in respect of freehold land and buildings and £3,139 (2015 - £26) in respect of long leasehold land and buildings.
 

5

Stocks

	2016 £	2015 £
Other inventories	2,897	2,872

6

Debtors

	2016 £	2015 £
Trade debtors	3,949	-
Other debtors	2,077	863
Total current trade and other debtors	6,026	863

Page 10

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

7

Creditors

	Note	2016 £	2015 £
Due within one year
Trade creditors		9,030	8,137
Taxation and social security		4,024	596
Other creditors		15,766	16,235
		28,820	24,968

8	Transition to FRS 102

Balance Sheet at 1 January 2015
 

	Note	As originally reported £	Reclassification £	Remeasurement £	As restated £
Fixed assets
Tangible assets		4,352	-	-	4,352
Current assets
Stocks		9,138	-	-	9,138
Debtors		2,784	-	-	2,784
Cash at bank and in hand		63,419	-	-	63,419
		75,341	-	-	75,341
Creditors: Amounts falling due within one year		(41,256)	-	-	(41,256)
Net current assets		34,085	-	-	34,085
Net assets		38,437	-	-	38,437
Capital and reserves
Other reserves		(77,539)	-	-	(77,539)
Profit and loss account		39,102	-	-	39,102
Total equity		(38,437)	-	-	(38,437)

Page 11

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

Balance Sheet at 31 December 2015
 

	Note	As originally reported £	Reclassification £	Remeasurement £	As restated £
Fixed assets
Tangible assets		15,460	-	-	15,460
Current assets
Stocks		2,871	-	-	2,871
Debtors		863	-	-	863
Cash at bank and in hand		83,980	-	-	83,980
		87,714	-	-	87,714
Creditors: Amounts falling due within one year		(24,968)	-	-	(24,968)
Net current assets		62,746	-	-	62,746
Net assets		78,206	-	-	78,206
Capital and reserves
Other reserves		(77,539)	-	-	(77,539)
Profit and loss account		(667)	-	-	(667)
Total equity		(78,206)	-	-	(78,206)

Page 12

Andover Golf Club Limited (The)

trading as Andover Golf Club Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

Profit and Loss Account for the year ended 31 December 2015
 

	Note	As originally reported £	Reclassification £	Remeasurement £	As restated £
Turnover		235,868	(1,395)	-	234,473
Cost of sales		(73,989)	-	-	(73,989)
Gross surplus/(deficit)		161,879	(1,395)	-	160,484
Distribution costs		(25,439)	-	-	(25,439)
Administrative expenses		(96,685)	-	-	(96,685)
Other operating income		-	1,395	-	1,395
Operating surplus		39,755	-	-	39,755
Other interest receivable and similar income		14	-	-	14
		14	-	-	14
Surplus before tax		39,769	-	-	39,769
Surplus for the financial year		39,769	-	-	39,769

Page 13