Preston Golf Club Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 00498062 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

PRESTON GOLF CLUB LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Christopher Sumner

Nigel Walter Davey

James Alan Roberts

Stephen Joseph Smith

REGISTERED OFFICE:

Fulwood Old Hall

Fulwood Hall Lane

PRESTON

Lancashire

PR2 8DD

REGISTERED NUMBER:

00498062 (England and Wales)

AUDITORS:

Wallwork Nelson & Johnson

Chartered Accountants & Statutory Auditors

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Tangible assets

3

1,632,145

1,661,799

CREDITORS

Amounts falling due within one year

4

1,184,226

1,149,284

NET CURRENT LIABILITIES

(1,184,226

)

(1,149,284

)

TOTAL ASSETS LESS CURRENT LIABILITIES

447,919

512,515

CREDITORS

Amounts falling due after more than one year

5

326,284

358,040

NET ASSETS

121,635

154,475

CAPITAL AND RESERVES

Called up share capital

36

36

Capital redemption reserve

2

2

Other reserves

538,746

538,746

Retained earnings

(417,149

)

(384,309

)

SHAREHOLDERS' FUNDS

121,635

154,475

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 17 April 2018 and were signed on its behalf by:

James Alan Roberts - Director

Nigel Walter Davey - Director

1.	STATUTORY INFORMATION

Preston Golf 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.

Tangible fixed assets

Depreciation has been provided to write off the cost of tangible fixed assets over their expected useful lives using

the folowing rates:

Course irrigation system

5% per annum on cost

Golf academy buildings

2% per annum on cost

No depreciation has been charged on freehold buildings, on the grounds that it would be immaterial.

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.

Going concern

On the basis of their assessment of the company's financial position, the directors have a reasonable expectation that

the company will be able to continue in operational existence for the foreseeable future. Thus continuing to adopt

the going concern basis of accounting in preparing the annual financial statements.

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 October 2016

and 30 September 2017

2,064,404

DEPRECIATION

At 1 October 2016

402,605

Charge for year

29,654

At 30 September 2017

432,259

NET BOOK VALUE

At 30 September 2017

1,632,145

At 30 September 2016

1,661,799

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/17

30/9/16

£

£

Bank loans and overdrafts

28,419

28,419

Other creditors

1,155,807

1,120,865

1,184,226

1,149,284

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/9/17

30/9/16

£

£

Bank loans

315,785

342,040

Other creditors

10,499

16,000

326,284

358,040

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

202,109

228,364

6.	SECURED DEBTS

The following secured debts are included within creditors:

30/9/17

30/9/16

£

£

Bank loans

344,204

370,459

Brewery loan

16,499

22,000

360,703

392,459

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

P Woodburn FCA (Senior Statutory Auditor)

for and on behalf of Wallwork Nelson & Johnson

8.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.