Haverhill Golf Club Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01635787 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

HAVERHILL GOLF CLUB LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr S J Cousins

R Hammett

T B Harrison

P R Young

S W Ward

S Nichols

REGISTERED OFFICE:

Coupals Road

Haverhill

Suffolk

CB9 7UW

REGISTERED NUMBER:

01635787 (England and Wales)

ACCOUNTANTS:

Hackett Griffey LLP

Chartered Certified Accountants

31 High Street

Haverhill

Suffolk

CB9 8AD

FIXED ASSETS

Tangible assets

4

787,082

779,665

CURRENT ASSETS

Stocks

4,401

4,558

Debtors

5

1,381

2,019

Cash at bank and in hand

27,709

16,834

33,491

23,411

CREDITORS

Amounts falling due within one year

6

279,057

238,091

NET CURRENT LIABILITIES

(245,566

)

(214,680

)

TOTAL ASSETS LESS CURRENT LIABILITIES

541,516

564,985

CREDITORS

Amounts falling due after more than one year

7

(211,374

)

(248,389

)

ACCRUALS AND DEFERRED INCOME

(54,602

)

(56,485

)

NET ASSETS

275,540

260,111

RESERVES

Income and expenditure account

275,540

260,111

275,540

260,111

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 7 November 2019 and were signed on its behalf by:

S W Ward - Director

Dr S J Cousins - Director

1.	STATUTORY INFORMATION

Haverhill Golf Club Limited is a private company, limited by guarantee , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the aggregate total of joining fees, subscriptions, green fees, competition fees, bar income

and room hire receipts being the amount derived from ordinary activities, stated net of VAT.

Membership subscriptions are recognised in the income statement in the period in which they relate.

Subscriptions received in advance are carried forward within creditors.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Long leasehold

-

5% on cost

Plant and machinery

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the

lease.

Going concern

The accounts have been prepared on the going concern basis despite the Club having net current liabilities of

£245,566 at the year end. However, a significant proportion of this relates to members subscriptions received in

advance and therefore will never fall due for payment. In addition, the Club has finance and loan agreements in

place to allow it to continue meeting it's debt's as they fall due and for these reasons the directors continue to

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2018 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Long

Plant and

property

leasehold

machinery

Totals

£

£

£

£

COST

At 1 April 2018

395,212

637,544

489,202

1,521,958

Additions

6,664

3,769

15,395

25,828

At 31 March 2019

401,876

641,313

504,597

1,547,786

DEPRECIATION

At 1 April 2018

87,350

235,615

419,328

742,293

Charge for year

4,448

796

13,167

18,411

At 31 March 2019

91,798

236,411

432,495

760,704

NET BOOK VALUE

At 31 March 2019

310,078

404,902

72,102

787,082

At 31 March 2018

307,862

401,929

69,874

779,665

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

1,381

2,019

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

3,182

3,053

Hire purchase contracts

4,554

5,095

Subscriptions in advance

171,881

144,984

Trade creditors

31,211

34,852

Taxation and social security

7,440

-

Other creditors

60,789

50,107

279,057

238,091

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

143,816

146,998

Hire purchase contracts

4,812

9,366

Other creditors

62,746

92,025

211,374

248,389

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

128,983

132,995

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

146,998

150,051

Other loans

92,025

119,893

Hire purchase contracts

-

14,461

239,023

284,405

Bank and other loans are secured by fixed and floating charges over the assets of the company.

Hire purchase contracts are secured on the asset financed.

9.	OTHER FINANCIAL COMMITMENTS

At the reporting date the company had outstanding commitments for future minimum lease payments under

non-cancellable operating leases of £110,683 at 31 March 2019.

10.	LIMITED BY GUARANTEE

The company is limited by guarantee. Every member of the company undertakes to contribute such amounts as

may be required not exceeding £1 to the company's assets if it should be wound up while they are a member or

within one year after they cease to be a member, to cover the liability of the company.