REGISTERED NUMBER: 00900281 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Abergele Golf Club Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors' Responsibilities Statement

9

Independent Chartered Accountants' Review Report

10

DIRECTORS:

G P Carpenter

D J Hughes

J G Hatcher

J S Powell

T Hughes

J M Thomas

Mrs B C Wells

REGISTERED OFFICE:

The Club House

Tan y Gopa Road

Abergele

LL22 8DS

REGISTERED NUMBER:

00900281 (England and Wales)

ACCOUNTANTS:

Bennett Brooks & Co Ltd

Chartered Accountants

19 Trinity Square

Llandudno

CONWY

LL30 2RD

FIXED ASSETS

Tangible assets

4

1,420,253

1,369,570

Investments

5

100

100

1,420,353

1,369,670

CURRENT ASSETS

Debtors

6

1,448

1,798

Cash at bank and in hand

407

439

1,855

2,237

CREDITORS

Amounts falling due within one year

7

224,057

327,780

NET CURRENT LIABILITIES

(222,202

)

(325,543

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,198,151

1,044,127

CREDITORS

Amounts falling due after more than one year

8

(712,184

)

(675,090

)

DEFERRED INCOME

(123,709

)

(124,075

)

NET ASSETS

362,258

244,962

RESERVES

Revaluation reserve

10

164,000

164,000

Income and expenditure account

198,258

80,962

362,258

244,962

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 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 15 June 2017 and were signed on its behalf by:

T Hughes - Director

G P Carpenter - Director

1.	STATUTORY INFORMATION

Abergele 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents subscription income, green fees, bar sales and other sources of income, net of value added

tax where relevant.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

Reducing balance over 1 year

Plant and machinery etc

-

20% on reducing balance and 10% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases taken out in the current year are capitalised in the

balance sheet and are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

In previous years, all leases have been treated as operating leases. Where payments under leases taken out in

previous years continue to be made, relevant instalments have been written off to the profit and loss account.

Members subscriptions

The Club's subscription year commences on 1 April. Members' subscriptions received prior to 1 April are

deferred to the year to which they relate.

The Club may, from time to time, offer members the opportunity to pay subscriptions in advance for a period of

years or for lifetime at advantageous rates.

Subscriptions paid in advance for specified years are deferred over the period of years in question.

Lifetime membership is normally only offered in exceptional circumstances to provide additional funding to

meet unexpected or unusual expenditure. Lifetime membership subscription income is, therefore, credited to

revenue in the year in which the subscriptions are considered to commence.

Grants receivable

Revenue grants are credited to the profit and loss account in the year to which they relate.

Capital grants are credited against the relevant cost of the fixed assets to which they relate

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2016

1,546,293

808,928

2,355,221

Additions

-

109,620

109,620

Disposals

-

(37,045

)

(37,045

)

At 31 March 2017

1,546,293

881,503

2,427,796

DEPRECIATION

At 1 April 2016

366,922

618,729

985,651

Charge for year

8,958

46,238

55,196

Eliminated on disposal

-

(33,304

)

(33,304

)

At 31 March 2017

375,880

631,663

1,007,543

NET BOOK VALUE

At 31 March 2017

1,170,413

249,840

1,420,253

At 31 March 2016

1,179,371

190,199

1,369,570

Cost or valuation at 31 March 2017 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2003

164,000

-

164,000

Cost

1,382,293

881,503

2,263,796

1,546,293

881,503

2,427,796

If freehold land and buildings had not been revalued they would have been included at the following historical

cost:

2017

2016

£

£

Cost

1,382,293

1,382,293

Aggregate depreciation

366,922

366,922

Value of land in freehold land and buildings

771,334

771,334

Freehold land and buildings were valued on an open market basis on 20 August 2003 by Edward Symmonds & Partners

.

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as

follows:

Plant and

machinery

etc

£

COST OR VALUATION

At 1 April 2016

207,946

Additions

108,866

Transfer to ownership

(21,972

)

At 31 March 2017

294,840

DEPRECIATION

At 1 April 2016

81,303

Charge for year

36,505

Transfer to ownership

(16,212

)

At 31 March 2017

101,596

NET BOOK VALUE

At 31 March 2017

193,244

At 31 March 2016

126,643

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

and 31 March 2017

100

NET BOOK VALUE

At 31 March 2017

100

At 31 March 2016

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

413

763

Other debtors

1,035

1,035

1,448

1,798

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

95,420

95,575

Hire purchase contracts and finance leases

44,756

32,055

Trade creditors

10,536

15,199

Amounts owed to group undertakings

44,589

11,792

Taxation and social security

11,720

58,022

Other creditors

17,036

115,137

224,057

327,780

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

557,199

566,202

Hire purchase contracts and finance leases

154,985

107,074

Other creditors

-

1,814

712,184

675,090

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

420,125

436,302

Finance leases

16,173

-

436,298

436,302

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

64,635

66,586

Bank loans

587,984

595,191

Hire purchase contracts and finance leases

199,741

139,129

852,360

800,906

The bank loans and overdraft are secured by legal charge over all the land forming part of the golf club,

Tan-y-Gopa Road, Abergele.

10.

RESERVES

Revaluation

reserve

£

At 1 April 2016

and 31 March 2017

164,000

11.	RELATED PARTY DISCLOSURES

Abergele Golf Club Limited received a covenant of £85,861 from Abergele Golf Club (Trading) Limited.

During the year Abergele Golf Club Limited were charged £12,600 (including VAT) for services provided by

Abergele Golf Club (Trading) Limited.

At 31 March 2017 Abergele Golf Club Limited owed Abergele Golf Club (Trading) Limited £44,589 (2016 -

£11,792).

12.	COMPANY LIMITED BY GUARANTEE

The club is a company limited by guarantee without a share capital. Every member undertakes to contribute to

the liabilities of the company in the event of it being wound up while he is a member or within one year of his

ceasing to be a member. Each full gentleman's contribution in such an event is limited to £1, each lady member's

contribution is limited to 25p and other members would contribute 5p.

13.	FIRST YEAR ADOPTION

For financial years up to and including the year ended 31 March 2016, the company prepared its financial

statements in accordance with UK Generally Accepted Accounting Practice (UK GAAP). These financial

statements for the year ended 31 March 2017 are the first the company has prepared in accordance with FRS

102, Section 1A. The company's deemed transition date to FRS 102 was 1 April 2016. No transitional

differences were noted.

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to:

-	ensure that the company has kept proper accounting records;

-	prepare financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2017 and of its surplus for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial statements.

ON BEHALF OF THE BOARD:

T Hughes - Director

G P Carpenter - Director

15 June 2017

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of Abergele Golf Club Limited for the year ended 31 March 2017, which comprise the Income Statement, Balance Sheet and the related notes 1 to 14. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed.

Directors' responsibility for the financial statements

As explained more fully in the Directors' Responsibilities Statement set out on page eleven, the directors are responsible

for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility

Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review

in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review

historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on

historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have

performed additional procedures to those required under a compilation engagement. These primarily consist of making

enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the

evidence obtained. The procedures performed in a review are substantially less than those performed in an audit

conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an

audit opinion on these financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

-	so as to give a true and fair view of the state of the company's affairs as at 31 March 2017 and of its surplus for the year then ended;

-	in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	in accordance with the requirements of the Companies Act 2006.

Bennett Brooks & Co Ltd

Chartered Accountants

19 Trinity Square

Llandudno

CONWY

LL30 2RD

16 June 2017