| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2018 |
| for |
| Abergele Golf Club Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2018 |
| for |
| Abergele Golf Club Limited |
| Abergele Golf Club Limited (Registered number: 00900281) |
| Contents of the Financial Statements |
| for the year ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Directors' Responsibilities Statement | 8 |
| Independent Chartered Accountants' Review Report | 9 |
| Abergele Golf Club Limited |
| Company Information |
| for the year ended 31 March 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 19 Trinity Square |
| Llandudno |
| CONWY |
| LL30 2RD |
| Abergele Golf Club Limited (Registered number: 00900281) |
| Balance Sheet |
| 31 March 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| DEFERRED INCOME | ( |
) | ( |
) |
| NET ASSETS |
| RESERVES |
| Revaluation reserve | 10 |
| Income and expenditure account |
| 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. |
| Abergele Golf Club Limited (Registered number: 00900281) |
| Balance Sheet - continued |
| 31 March 2018 |
| 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 |
| Abergele Golf Club Limited (Registered number: 00900281) |
| Notes to the Financial Statements |
| for the year ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| Abergele Golf Club Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents subscription income, green fees, bar sales and other sources of income, net of value added tax where |
| relevant. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| 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 |
| Abergele Golf Club Limited (Registered number: 00900281) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2017 |
| Additions |
| Grants | (27,277 | ) | - | (27,277 | ) |
| At 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| Cost or valuation at 31 March 2018 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 2003 | 164,000 | - | 164,000 |
| Cost | 1,383,323 | 881,503 | 2,264,826 |
| 1,547,323 | 881,503 | 2,428,826 |
| If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
| 2018 | 2017 |
| £ | £ |
| Cost | 1,383,323 | 1,382,293 |
| Aggregate depreciation | 384,522 | 375,880 |
| 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 . |
| Abergele Golf Club Limited (Registered number: 00900281) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2018 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under finance leases are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST OR VALUATION |
| At 1 April 2017 |
| and 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2017 |
| and 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Finance leases |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| Abergele Golf Club Limited (Registered number: 00900281) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2018 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Finance leases |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more than 5 years | 384,110 | 420,125 |
| Finance leases | 7,135 | 16,173 |
| 391,245 | 436,298 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Finance leases | 154,984 | 199,741 |
| 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 2017 |
| and 31 March 2018 |
| 11. | RELATED PARTY DISCLOSURES |
| Abergele Golf Club Limited received a covenant of £97,824 (2017 - £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 2018 Abergele Golf Club Limited owed Abergele Golf Club (Trading) Limited £12,212 (2017 - £44,589). |
| 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. |
| Directors' Responsibilities Statement |
| on the Unaudited Financial Statements of |
| Abergele Golf Club Limited |
| 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 2018 and of its deficit 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: |
| 7 August 2018 |
| Independent Chartered Accountants' Review Report to the Directors of |
| Abergele Golf Club Limited |
| 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 2018, which comprise the Income Statement, Balance Sheet and the related notes 1 to 13. 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 nine, 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 2018 and of its deficit 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. |
| Chartered Accountants |
| 19 Trinity Square |
| Llandudno |
| CONWY |
| LL30 2RD |