Company Registration No.
(LIMITED BY GUARANTEE)
ENDED
THE CROMPTON AND ROYTON GOLF CLUB LIMITED
(LIMITED BY GUARANTEE)
CONTENTS
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Balance Sheet | 3 |
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Notes to the financial statements | 4 - 9 |
THE CROMPTON AND ROYTON GOLF CLUB LIMITED
(LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT
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Fixed assets |
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Tangible assets | 3 |
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Current assets |
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Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 5 | ( |
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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 | 6 |
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Net assets |
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Reserves |
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Revaluation reserve |
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Other reserves |
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Income and expenditure account |
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Members' funds |
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The financial statements were approved by
Director | Director |
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Company Registration No. 00137205 |
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THE CROMPTON AND ROYTON GOLF CLUB LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
1.1 Accounting convention
1.2 Turnover
1.3 Tangible fixed assets
Land and buildings leasehold | |
Plant and machinery | |
Fixtures and fittings |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.
1.4 Stocks
1.5 Cash at bank and in hand
THE CROMPTON AND ROYTON GOLF CLUB LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies (Continued)
1.6 Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments' and Section 12 ‘Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
THE CROMPTON AND ROYTON GOLF CLUB LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies (Continued)
1.7 Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8 Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.9 Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
1.10 Company information
The Crompton and Royton Golf Club Limited is a private company limited by guarantee, incorporated in
THE CROMPTON AND ROYTON GOLF CLUB LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
2 Employees
The average monthly number of persons employed by the company during the year was:
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3 Tangible fixed assets
| Land | Building | Plant and | Fixtures | Pop up | Course | Total |
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| leasehold | machinery | and | sprinkler | construction |
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| fittings |
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Cost or valuation |
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Additions |
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Disposals |
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At 31 March 2023 | |||||||
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Depreciation and impairment |
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At 1 April 2022 | - | ||||||
Depreciation charged in the year |
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Eliminated in respect of disposals |
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At 31 March 2023 | - | ||||||
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Carrying amount |
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At 31 March 2023 | - | ||||||
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At 31 March 2022 | - |
THE CROMPTON AND ROYTON GOLF CLUB LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
3 Tangible fixed assets (Continued)
If revalued assets were stated on an historical cost basis than a fair value basis, the total amounts included would have been as follows:
| 2023 | 2022 |
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Cost | 529,596 | 529,596 |
Accumulated depreciation | (231,609) | (227,238) |
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Carrying value | 297,987 | 302,358 |
4 Debtors
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Amounts falling due within one year: | £ | £ |
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Service charges due | ||
Other debtors | ||
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5 Creditors: amounts falling due within one year
| 2023 | 2022 |
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Bank loans | ||
Trade creditors | ||
Taxation and social security | ||
Other creditors | ||
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THE CROMPTON AND ROYTON GOLF CLUB LIMITED
(LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
6 Creditors: amounts falling due after more than one year
| 2023 | 2022 |
| £ | £ |
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Bank loans and overdrafts | ||
Finance & HP Loans | - | |
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7 Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
| 2023 | 2022 |
| £ | £ |
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8 Capital commitments
9 Events after the reporting date