UNAUDITED FINANCIAL STATEMENTS FOR
CONTENTS OF THE FINANCIAL STATEMENTS Page General Information 1 Accountants' Report and Client Approval Certificate 2 Trading and Profit and Loss Account 3 Balance Sheet 5 Capital Account Schedule 6 Tangible Fixed Assets Schedule 7
GENERAL INFORMATION PROPRIETOR: Members of Peterhead Golf Club ADDRESS: Riverside Drive Peterhead Aberdeenshire AB42 1LT ACCOUNTANTS: Goldwells Ltd 37 Broad Street Peterhead Aberdeenshire AB42 1JB Page 1
FINANCIAL STATEMENTS ACCOUNTANTS' REPORT TO In accordance with instructions given to us we have prepared without carrying out an audit the annexed financial statements from the accounting records of Peterhead Golf Club and from information and explanations supplied to us. Goldwells Ltd 37 Broad Street Peterhead Aberdeenshire AB42 1JB 8th November 2016 CLIENT APPROVAL CERTIFICATE I approve the financial statements and confirm that I have made available all relevant records and information for their preparation. Members of Peterhead Golf Club 8th November 2016 Page 2
TRADING AND PROFIT AND LOSS ACCOUNT 2016 2015 Bar sales 80,813 81,767 Cost of sales Opening stock 4,459 4,434 Purchases 34,255 33,057 38,714 37,491 Closing stock (4,565) (4,459) 34,149 33,032 GROSS PROFIT 46,664 48,735 Other income Subscriptions receivable 270,326 287,915 Visitors green fees 34,091 35,095 Gaming machines 5,344 11,161 Tournaments and competitions 14,801 21,632 Rentals 4,778 4,543 Sponsorship and donations 14,795 4,858 Pool table 131 281 Functions and raffles 15,695 14,276 VAT reclaim 13,470 - Miscellaneous income 1,409 1,125 374,840 380,886 421,504 429,621 Expenditure Course wages 144,968 142,263 Fertiliser and seeds 3,413 5,310 Maintenance and water charges 43,335 51,644 Leasing 12,717 10,224 Rent 2,000 2,000 Rates 2,703 - Insurance 4,499 4,000 Clubhouse heat and light 13,544 15,895 Clubhouse wages 58,881 66,584 Telephone 1,381 1,436 Post and stationery 6,339 4,234 Prize vouchers and trophies 9,518 9,590 Competition fees and expenses 2,108 910 SGU subscriptions 7,222 6,247 Functions and entertainment 2,935 5,422 Staff training 1,694 2,250 Gaming machine rentals 2,037 6,177 Clubhouse repairs and upkeep 9,867 5,722 Secretarial wages 3,946 4,117 Sundry expenses 3,156 1,991 Accountancy 6,050 8,150 Stocktake fees 170 340 Input tax not recoverable 13,034 14,643 Legal fees - 4,000 H McLatchie settlement - 12,000 355,517 385,149 Carried forward 65,987 44,472 Page 3
TRADING AND PROFIT AND LOSS ACCOUNT 2016 2015 Brought forward 65,987 44,472 Finance costs Bank charges 4,533 6,954 Leasing - 300 Bank interest 2,077 3,013 Bank loan interest 3,443 5,016 Other interest 116 231 10,169 15,514 55,818 28,958 Depreciation Long leasehold 10,429 10,429 Improvements to property 2,005 2,400 Plant and machinery 8,495 7,020 Fixtures and fittings 4,586 5,097 25,515 24,946 NET PROFIT 30,303 4,012 Page 4
BALANCE SHEET 30TH SEPTEMBER 2016 2016 2015 FIXED ASSETS Long leasehold 324,322 334,751 Improvements to property 11,365 13,370 Plant and machinery 76,435 79,290 Fixtures and fittings 41,220 42,810 453,342 470,221 CURRENT ASSETS Stocks 6,195 6,049 Trade debtors 10,534 - Other debtors - 3,629 Prepayments 2,703 - Cash in hand 474-19,906 9,678 CURRENT LIABILITIES VAT 7,307 6,042 Bank account no. 1 26,790 41,193 Trade creditors 19,382 - Social security and other taxes 1,690 - Other creditors 3,334 27,729 Junior Account 4,174 - Competition vouchers 2,845 - Feuar's grant 3,000 - Subscriptions in advance 94,228 94,952 Members loan 3,404 10,128 166,154 180,044 (146,248 ) (170,366 ) NET ASSETS 307,094 299,855 FINANCED BY LONG TERM LIABILITIES Loans 35,620 58,684 CAPITAL ACCOUNT 271,474 241,171 307,094 299,855 Page 5
CAPITAL ACCOUNT SCHEDULE 30TH SEPTEMBER 2016 2016 2015 CAPITAL ACCOUNT Brought forward 241,171 237,159 Add Net profit 30,303 4,012 271,474 241,171 271,474 241,171 Page 6
TANGIBLE FIXED ASSETS SCHEDULE 30TH SEPTEMBER 2016 Improvements Fixtures Long to Plant and and leasehold property machinery fittings Totals COST At 1st October 2015 521,428 69,893 136,643 166,085 894,049 Additions - - 5,640 2,996 8,636 At 30th September 2016 521,428 69,893 142,283 169,081 902,685 DEPRECIATION At 1st October 2015 186,677 56,523 57,353 123,275 423,828 Charge for year 10,429 2,005 8,495 4,586 25,515 At 30th September 2016 197,106 58,528 65,848 127,861 449,343 NET BOOK VALUE At 30th September 2016 324,322 11,365 76,435 41,220 453,342 At 30th September 2015 334,751 13,370 79,290 42,810 470,221 Page 7