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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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HENDON GOLF CLUB LTD |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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FOR |
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HENDON GOLF CLUB LTD |
HENDON GOLF CLUB LTD (REGISTERED NUMBER: 12475798) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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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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HENDON GOLF CLUB LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Registered Auditors |
5-9 Eden Street |
Kingston-upon-Thames |
Surrey |
KT1 1BQ |
HENDON GOLF CLUB LTD (REGISTERED NUMBER: 12475798) |
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BALANCE SHEET |
31 MARCH 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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RESERVES |
Other reserves | 9 |
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Income and expenditure account | 9 |
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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
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HENDON GOLF CLUB LTD (REGISTERED NUMBER: 12475798) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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1. | STATUTORY INFORMATION |
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Hendon Golf Club Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
The preparation of the financial statements requires the company to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for income and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Tangible fixed assets represents a significant element of the balance sheet. Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values may vary depending on a number of factors. |
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Turnover |
Revenue is measured at fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed |
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Subscription income is recognised evenly over the membership period with any amounts received in the current financial year that related to the following financial year treated as deferred income. |
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Revenue grants are recognised using the accrual model and are therefore recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Revenue grants are measured at fair value, being the amount of cash receivable. |
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Tangible fixed assets |
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Long leasehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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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 is excluded under the mutual trading rules for members clubs. |
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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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HENDON GOLF CLUB LTD (REGISTERED NUMBER: 12475798) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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2. | ACCOUNTING POLICIES - continued |
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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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. |
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Finance lease and easing commitments |
Plant and equipment acquired under finance leases contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors. |
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Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
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Significant judgements and estimates |
The preparation of the financial statements requires the company to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for income and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Tangible fixed assets represents a significant element of the balance sheet. Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values may vary depending on a number of factors. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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HENDON GOLF CLUB LTD (REGISTERED NUMBER: 12475798) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
Additions |
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Disposals |
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Transfer from unincorporated |
association | - | 165,476 | 165,476 |
At 31 March 2022 |
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DEPRECIATION |
Charge for year |
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Eliminated on disposal |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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Included in the above are assets with a net book value amounting to £17,456 which are held under finance leases. Depreciation charged on assets held under finance leases during the year amounted to £6,376. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Finance leases (see note 8) |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Accrued expenses |
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Deferred subscription income |
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HENDON GOLF CLUB LTD (REGISTERED NUMBER: 12475798) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2022 | 2021 |
£ | £ |
Finance leases (see note 8) |
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8. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Finance leases |
2022 | 2021 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable | operating leases |
2022 | 2021 |
£ | £ |
Between one and five years |
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In more than five years |
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9. | RESERVES |
Income |
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expenditure | Other |
account | reserves | Totals |
£ | £ | £ |
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Surplus for the year |
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Transfer from unincorporated |
association | - | 197,369 | 197,369 |
At 31 March 2022 |
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433,496 |
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The balance under other reserves represents the value of assets and liabilities transferred from the previous unincorporated association. |
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10. | 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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HENDON GOLF CLUB LTD (REGISTERED NUMBER: 12475798) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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11. | RELATED PARTY DISCLOSURES |
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During the year the company charged Hendon Golf Club 1903 Ltd £1,498 for management fees and was charged £5,000 for rent. |