back to HORNSEA GOLF CLUB LIMITED detail Hornsea Golf Club Limited - Filleted accounts
Registered number
00176204
Hornsea Golf Club Limited
Unaudited Filleted Accounts
31 March 2017
Hornsea Golf Club Limited
Registered number: 00176204
Balance Sheet
as at 31 March 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 4 212,711 232,290
Current assets
Stocks 16,985 16,165
Debtors 5 20,456 23,594
Cash at bank and in hand 200,708 117,881
238,149 157,640
Creditors: amounts falling due within one year 6 (189,776) (178,262)
Net current assets/(liabilities) 48,373 (20,622)
Net assets 261,084 211,668
Capital and reserves
Called up share capital 2,319 2,489
Capital Redemption Reserve 9,952 9,563
Grant Reserve 10,360 11,137
Profit and loss account 238,453 188,479
Shareholders' funds 261,084 211,668
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Hall
Director
Approved by the board on 24 August 2017
Hornsea Golf Club Limited
Notes to the Accounts
for the year ended 31 March 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Freehold Land and Buildings 3% and 10%
Irrigation system 5%
Furnture and Equipment 20%
Machines and Implements 12.50%
Stocks
Stocks are valued at the lower of cost and net realisable value.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the income and expenditure account as they become payable in accordance with the rules of the scheme.
Capital Grants
Grants received for fixed assets are credited to a grant reserve and are released to income and expenditure in equal instalments over the relevant asset lives.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 12 12
3 Taxation 2017 2016
UK Corporation Tax 936
936 -
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2016 249,824 342,991 104,521 697,336
Additions - 1,351 17,065 18,416
At 31 March 2017 249,824 344,342 121,586 715,752
Depreciation
At 1 April 2016 136,847 241,372 86,827 465,046
Charge for the year 6,171 25,147 6,677 37,995
At 31 March 2017 143,018 266,519 93,504 503,041
Net book value
At 31 March 2017 106,806 77,823 28,082 212,711
At 31 March 2016 112,977 101,619 17,694 232,290
5 Debtors 2017 2016
£ £
Trade debtors 5,620 4,528
Other debtors 14,836 19,066
20,456 23,594
6 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 49,987 42,710
Corporation tax 936 -
Other taxes and social security costs 2,680 2,561
Other creditors 135,714 132,991
189,317 178,262
7 Ulitmate controlling party
There is no controlling party.

The company is limited by shares and incorporated in England. Its registered office is Rolston Road Hornsea HU18 1XG.
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