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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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North Shore Golf |
Club(Skegness)limited(The) |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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for |
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North Shore Golf |
Club(Skegness)limited(The) |
North Shore Golf |
Club(Skegness)limited(The) (Registered number: 00158482) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 9 |
North Shore Golf |
Club(Skegness)limited(The) |
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Company Information |
for the Year Ended 31 December 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Insight |
Chartered Accountants |
15 Wheeler Gate |
Nottingham |
Nottinghamshire |
NG1 2NA |
North Shore Golf |
Club(Skegness)limited(The) (Registered number: 00158482) |
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Balance Sheet |
31 December 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Prepayments and accrued income |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 9 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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 profit or loss 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. |
North Shore Golf |
Club(Skegness)limited(The) (Registered number: 00158482) |
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Balance Sheet - continued |
31 December 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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North Shore Golf |
Club(Skegness)limited(The) (Registered number: 00158482) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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North Shore Golf Club(Skegness)limited(The) is a
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and Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Amusement machines | - |
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Plant, Machinery And Vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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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. |
North Shore Golf |
Club(Skegness)limited(The) (Registered number: 00158482) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Amusement |
property | property | machines |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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North Shore Golf |
Club(Skegness)limited(The) (Registered number: 00158482) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Plant, |
Fixtures | Machinery |
and | And |
fittings | Vehicles | Equipment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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Hire purchase agreements |
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Included within the net book value of £1,900,788 is £17,287 (2015: £11,554) relating to assets held under hire |
purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets |
amounted to £11,262 (2015 £7,014). |
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Cost or valuation at 31 December 2016 is represented by: |
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Improvements |
Freehold | to | Amusement |
property | property | machines |
£ | £ | £ |
Valuation in 2013 | 1,145,912 | - | - |
Cost | 654,088 | 35,945 | 7,181 |
1,800,000 | 35,945 | 7,181 |
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Plant, |
Fixtures | Machinery |
and | And |
fittings | Vehicles | Equipment | Totals |
£ | £ | £ | £ |
Valuation in 2013 | - | - | - | 1,145,912 |
Cost | 551,567 | 188,580 | 455,161 | 1,892,522 |
551,567 | 188,580 | 455,161 | 3,038,434 |
North Shore Golf |
Club(Skegness)limited(The) (Registered number: 00158482) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant, |
Machinery |
And |
Vehicles |
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COST OR VALUATION |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
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Other debtors |
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Deferred tax asset |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Directors' current accounts | 24,000 | 24,000 |
Accruals and deferred income |
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North Shore Golf |
Club(Skegness)limited(The) (Registered number: 00158482) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Hire purchase contracts |
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Other creditors |
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Accruals and deferred income |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.16 | 31.12.15 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Hire purchase contracts | 37,864 | 19,804 |
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9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2016 |
and 31 December 2016 |
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10. | RELATED PARTY DISCLOSURES |
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At the year end the company is owed £25,664 by Skegness Golf Centre another company under ultimate control |
of W R C Mitchell, Director. |
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11. | ULTIMATE CONTROLLING PARTY |
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The parent company during the year was R G Mitchell (Leisure) Limited which is incorporated in Great Britain |
and registered in England & Wales. The ultimate parent company is Mitchell Leisure Group Limited and the |
ultimate controlling party is the sole director. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
North Shore Golf |
Club(Skegness)limited(The) |
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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 Statement of Comprehensive Income and |
certain other primary statements and the Report of the Directors are not required to be filed with the Registrar |
of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of North Shore Golf Club(Skegness)limited(The) for the year ended 31 December 2016 which |
comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from |
information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of North Shore Golf Club(Skegness)limited(The), as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of North Shore Golf Club(Skegness)limited(The) and state those matters that we have agreed to state to the Board of Directors of North Shore Golf Club(Skegness)limited(The), as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than North Shore Golf Club(Skegness)limited(The) Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that North Shore Golf Club(Skegness)limited(The) has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of North Shore Golf Club(Skegness)limited(The). You consider that North Shore Golf Club(Skegness)limited(The) is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of North Shore Golf Club(Skegness)limited(The). For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Insight |
Chartered Accountants |
15 Wheeler Gate |
Nottingham |
Nottinghamshire |
NG1 2NA |
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Date: ............................................. |