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Hesketh Golf Club Limited |
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Financial Statements for the Year Ended 31 December 2019 |
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REGISTERED NUMBER:
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Hesketh Golf Club Limited |
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Financial Statements for the Year Ended 31 December 2019 |
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Hesketh Golf Club Limited (Registered number: 00170373) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Hesketh Golf Club Limited |
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Company Information |
for the Year Ended 31 December 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
71/73 Hoghton Street |
Southport |
Merseyside |
PR9 0PR |
Hesketh Golf Club Limited (Registered number: 00170373) |
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Balance Sheet |
31 December 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 12 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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Hesketh Golf Club Limited (Registered number: 00170373) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
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1. | STATUTORY INFORMATION |
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Hesketh Golf Club Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Long leasehold | - |
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Plant and machinery | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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Irrecoverable vat |
All VAT which can not be recovered because of partial exemption regulations is shown separately in the Profit |
and Loss account. |
Hesketh Golf Club Limited (Registered number: 00170373) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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3. | ACCOUNTING POLICIES - continued |
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Course improvements |
The costs of significant course improvements are written off against profits in the year in which they are incurred. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2019 |
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Additions |
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At 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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6. | STOCKS |
2019 | 2018 |
£ | £ |
Stocks |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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Prepayments and accrued income |
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Hesketh Golf Club Limited (Registered number: 00170373) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts and finance leases
(see note 10) |
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Trade creditors |
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Social security and other taxes |
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VAT | 3,635 | 1,019 |
Other creditors |
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Income in advance | 177,423 | 189,999 |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans - more than 1 yr |
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Income in advance | 11,799 | 16,478 |
Hire purchase contracts and finance leases
(see note 10) |
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10. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts | Finance leases |
2019 | 2018 | 2019 | 2018 |
£ | £ | £ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable operating |
leases |
2019 | 2018 |
£ | £ |
Within one year |
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Between one and five years |
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Hesketh Golf Club Limited (Registered number: 00170373) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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11. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank loans |
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12. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | 3220 | 3,220 | 3,220 |
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13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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14. | RELATED PARTY DISCLOSURES |
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No transactions with related parties were undertaken such as are required to be disclosed in the financial |
statements. |
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15. | GOING CONCERN |
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The accounts show a net asset position at 31 December 2019. The board of directors have reviewed current |
performance and prepared forecasts alongside setting achievable budgets for the next 12 months. |
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The realisation of these forecasts may be influenced by a number of factors outside their control affecting the |
Club and the UK economy as a result the Covid-19 pandemic. However, the directors have implemented |
measures, including support recommended by the Government, to mitigate a reduction in income, especially |
from Visitors and are confident of the ongoing support of the members, on which they are dependent, during this |
time. Further measures will be considered and taken by the directors, to ensure that the Company has |
adequate resources to continue its operations for the foreseeable future, once the full extent of the impact of the |
Covid-19 pandemic becomes clearer. |
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For these reasons, they continue to adopt the going concern basis in preparing the financial statements. The |
financial statements do not include any adjustments that would result from the basis of preparation being |
inappropriate. |