Otterbourne Golf Company Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02921338 (England and Wales)

OTTERBOURNE GOLF COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

Mr J M Garner

Mrs J A Garner

SECRETARY:

Mrs J A Garner

REGISTERED OFFICE:

24 Park Road South

Havant

Hampshire

PO9 1HB

REGISTERED NUMBER:

02921338 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

24 Park Road South

Havant

Hampshire

PO9 1HB

BANKERS:

Barclays Bank PLC

PO Box 2

Ocean Way

Ocean Village

Southampton

Hampshire

SO1 1TJ

FIXED ASSETS

Tangible assets

4

2,993

2,178

CURRENT ASSETS

Stocks

495

1,083

Debtors

5

137,343

140,821

Cash in hand

20

-

137,858

141,904

CREDITORS

Amounts falling due within one year

6

55,513

57,384

NET CURRENT ASSETS

82,345

84,520

TOTAL ASSETS LESS CURRENT LIABILITIES

85,338

86,698

CAPITAL AND RESERVES

Called up share capital

1,525

1,525

Capital redemption reserve

475

475

Retained earnings

83,338

84,698

SHAREHOLDERS' FUNDS

85,338

86,698

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 11 December 2017 and were signed on its behalf by:

Mr J M Garner - Director

1.	STATUTORY INFORMATION

Otterbourne Golf Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

The preparation of financial statement requires the use of estimates and assumptions that affect reported

amounts of assets and liabilities at the date of the financial statements, and revenue and expenses during the

reporting period. These estimates and assumptions are based on management's best knowledge of the amount,

event or actions. Actual results may differ from those amounts.

Significant estimates

Depreciation policies are based on the expected useful lives and useful economic lives of the different

categories of assets.The directors have used their experience and knowledge of the business to estimate these

influencing factors.

Turnover

Turnover represents fees and associated income for the use of the golf club, excluding value added tax. Fees

and associated services are recognised upon payment for the use of the club's facilities.

Tangible fixed assets

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

Course construction

-

4% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Course

Plant and

and

construction

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2016

37,822

9,900

290

48,012

Additions

-

1,583

-

1,583

At 31 March 2017

37,822

11,483

290

49,595

DEPRECIATION

At 1 April 2016

37,822

7,775

237

45,834

Charge for year

-

741

27

768

At 31 March 2017

37,822

8,516

264

46,602

NET BOOK VALUE

At 31 March 2017

-

2,967

26

2,993

At 31 March 2016

-

2,125

53

2,178

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

137,343

140,821

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

6,928

11,184

Trade creditors

1,778

1,370

Taxation and social security

2,161

9,250

Other creditors

44,646

35,580

55,513

57,384

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

24,960

24,960

Between one and five years

99,840

99,840

In more than five years

499,200

524,160

624,000

648,960

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

-

8,555

9.	CAPITAL COMMITMENTS

2017

2016

£

£

Contracted but not provided for in the

financial statements

673,920

648,960

10.	FIRST YEAR ADOPTION

The company has adopted FRS 102 1A for the year ended 2017. There are no re-statements required under the

new standard for earlier periods which were prepared under the FRSSE 2015 standard.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Otterbourne Golf Company Limited for the year ended 31 March 2017 which comprise the

Income Statement, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Otterbourne Golf Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Otterbourne Golf Company Limited and state those matters that we have agreed to state to the Board of Directors of Otterbourne Golf Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Otterbourne Golf Company Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Otterbourne Golf Company Limited 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 loss of Otterbourne Golf Company Limited. You consider that Otterbourne Golf Company 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 financial statements of Otterbourne Golf Company 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 financial statements.

Rothman Pantall LLP

Chartered Accountants

24 Park Road South

Havant

Hampshire

PO9 1HB

15 December 2017