The West Hill Golf Club (1959) Ltd
The West Hill Golf Club (1959) Ltd
Registered number: 00635571
Unaudited Financial Statements
For The Year Ended 30 June 2017
The West Hill Golf Club (1959) Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2017
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
The West Hill Golf Club (1959) Ltd
Balance Sheet
As at
30 June 2017
Balance Sheet
Registered number:
00635571
For the year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Stocks | 5 |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 8 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 10 |
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| Share premium |
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| Fair Value reserve |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 2,371,619 | 2,109,339 | |||
Page 1
The West Hill Golf Club (1959) Ltd
Balance Sheet (continued)
As at
30 June 2017
Directors' responsibilities:
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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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
The West Hill Golf Club (1959) Ltd
Notes to the Unaudited Accounts
For The Year Ended 30 June 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of 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. There were no material departures from that standard.
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
At 30 June 2017 the company had a deficiency of current assets over current liabilities totalling £72,206 (2016 £224,224). The company meets its day to day working capital requirements through a variety of funding sources, primarily loan finance and an overdraft facility from its bankers together with member loans and loan notes. The company expects to operate within the overdraft facility negotiated annually with the bank.
On such a basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax.
1.3.
Tangible Fixed Assets and Depreciation
The company does not depreciate the stated revaluation surplus as the directors' feel that doing so would not result in the financial statements showing a true and fair view. If depreciation had been charged the company would have reported lower net assets as at the year end, however we are unable to quantify the financial effect of this departure from Financial Reporting Standard 102 and the Companies Act 2006.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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| Plant & Machinery |
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1.4.
Leasing and Hire Purchase Contracts
Where assets are financed by leasing agreements that give rights approximating to ownership ("finance leases"), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable during the lease term. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account.
Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.
All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight-line basis over the term of the lease.
1.5.
Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.6.
Taxation
Deferred tax liabilities are recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
3.
Average Number of Employees
Average number of employees, including directors, during the year was 22 (2016 21).
Page 3
The West Hill Golf Club (1959) Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 30 June 2017
4.
Tangible Assets
| Land & Property | |||
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| Freehold | Plant & Machinery | Total | |
| £ | £ | £ | |
| Cost | |||
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| Additions |
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| Disposals |
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| Depreciation | |||
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| Provided during the period |
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| Disposals |
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| Net Book Value | |||
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5.
Stocks
| 2017 | 2016 | ||
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| £ | £ | ||
| Stock - materials and work in progress | 18,185 | 20,084 | |
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6.
Debtors
| 2017 | 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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Page 4
The West Hill Golf Club (1959) Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 30 June 2017
7.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Bank loans and overdrafts | - |
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| Other taxes and social security |
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| VAT |
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| Other creditors |
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| Accruals and deferred income |
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8.
Creditors: Amounts Falling Due After More Than One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Bank loans |
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| Other creditors |
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9.
Obligations Under Finance Leases and Hire Purchase
| 2017 | 2016 | ||
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| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
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| Between one and five years |
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Page 5
The West Hill Golf Club (1959) Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 30 June 2017
11.
Related Party Transactions
P Edwards
At the year end the company owed the above director £250 in respect of loan notes.
G Fergusson
At the year end the company owed the above director £250 in respect of loan notes.
C Kimber
At the year end the company owed the above director £250 in respect of loan notes.
A Todd
At the year end the company owed the above director £250 in respect of loan notes.
J Watts
At the year end the company owed the above director £250 in respect of loan notes.
K Young
At the year end the company owed the above director £250 in respect of loan notes.
The directors also pay normal golf subscriptions.
12.
General Information
The West Hill Golf Club (1959) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 00635571 . The registered office is Bagshot Road, Brookwood, Woking, GU24 0BH.
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