Profit and Loss Account

For the Year Ended 31st December 2010

2010
Note

Income
General income
1
Fairways Caravans surplus2
Bar Surplus
3

Expenditure
Restaurant deficit
4
37,396
Golf Course expenses
5 201,753
Clubhouse, admin and finance
6

2009

291,994
35,333
16,700

281,912
21,640
46,116

344,027

349,668
10,195
188,300

152,572

153,260

391,721

351,755

Net (deficit)\surplus before tax

(2,087)
Corporation tax recovered
(Deficit)\surplus for the year after tax
(2,087)

(47,694)
-

(47,694)

Balance Sheet
As at 31st December 2010
2010
Note

2009

Fixed Assets
Depreciating Assets
7a 272,838
Non-Depreciating Assets 7b 746,913

318,962
746,913

1,019,751
Current Assets
Stocks
8
Debtors and prepayments
Cash at bank and in hand 9

Current Liabilities
Creditors and accruals

1,065,875

15,259
6,400
79,470

15,820
7,006
157,540

101,129

180,366

59,720

138,021

10

Net Current Assets (Liabilities)

42,345

41,409

Net Assets

1,061,160

1,108,220

Capital and Reserves

Subscriptions in Advance
Development Bonds
CASC Benefit Reserve 11
Caravans Renewal Reserve12
Accumulated Fund
13

49,574
2,300
1,009,286

47,540
3,700
10,413
107,083
939,484

1,061,160

1,105,220

Note 1
General Income
2010

2009

Playing membership

(2009 - 9 months only)

182,289
139,865
Social membership
(2009 - 9 months only)1,441
1,117
Locker rentals
(2009 - 9 months only)
2,442
1,289
Green fees
84,101
107,250
Competitions (net of prizes)
(594)
4,220
Buggies hire gross
11,881
15,562
Swing Room
1,040
1,040
Flat rent
6,088
6,900
Sponsorship
2,473
2,356
VAT refund
1,016
Outside contracting
477
1,100
Other income
321
Bank interest received
35
197
291,994

281,912

Note 2
Fairways Caravans
2010

Income
Accommodation sales
Green fees

Expenditure
Wages and salaries
29,219
Rates and water
2,709
Insurance
1,742
Light and heat
1,564
Repairs and renewals
2,987
Cleaning
564
Printing, postage and stationery
Advertising
754
TV Licences
154
Hire purchase interest
452
Other expenses
73
Depreciation
13,880
Management charge
-

2009

73,543
15,958

77,510
15,675

89,501

93,185
27,459
5,356
1,717
2,069
10,378
742

70

33
1,418
105
564
14,204
7,500

54,168

71,545

35,333

21,640

Note 3
Bar
2010

Income
Bar Sales

2009

132,615

Cost of Sales
Purchases (adjusted for stocks)
64,876
Gross profit

151,216

60,519

(54%) 72,096

Other Income
Gaming machine and snooker table
Brewery incentive

Expenditure
Wages and salaries
45,957
Gaming and snooker expenses
Sundry expenses
2,631
Entertainment and Sky TV
6,602
Licences
657
Stocktaking fees
1,300

Net Surplus for Year

(57%) 86,340

5,646
-

8,383
20,000

77,742

114,723
54,797

3,895

3,535
764
6,850
1,460
1,200

61,042

68,607

16,700

46,116

Note 4
Restaurant
2010

Income
Restaurant Sales

Expenditure
Salaries and wages
Light and heat
Repairs and maintenance
Sundry expenses

Net Deficit for Year

111,007

130,393

52,249

60,019

(53%) 58,758

(54%) 70,374

Cost of Sales
Purchases and consumables
(adjusted for stocks)
Gross profit

2009

68,551
1,572
26,003
28

75,439
1,838
2,395
897
96,154

80,569

37,396

10,195

Note 5
Golf Course Expenses

Salaries and wages

Materials
Equipment maintenance and hire
18,499
Fuels, oil, grease and sprays
5,318
Other course expenses
Water charges
Depreciation

2010

2009

96,127
39,201

92,688
28,591
16,153
6,580

2,369
7,224
34,099

2,584
1,049
39,571

201,753

188,300

Note 6
Clubhouse, Administration and Finance Expenses
2010

Wages and salaries - administration

Wages and salaries -cleaning
6,690
Professionals retainer
Rates and water charges
Insurance
Light and heat
Repairs and renewals
Cleaning
Printing, postage and stationery
3,921
Telephone
Computer and office machinery costs
Advertising
Sundry expenses
Club team costs
Subscriptions
Legal and professional fees
Accountancy
Bank charges
Credit card charges
Buggies leasing costs
Buggies depreciation
Charge to Fairways Caravans
(7,500)

2009

23,807

32,781
6,301

19,865
5,505
4,615
16,043
42,485
4,285

20,077
8,514
7,156
20,379
30,708
6,911
3,372

1,609
6,640
1,923
1,132
2,805
793
95
698
2433
1,391
6,775

1,894
2,457
3,668
864
341
860
454
820
3,800
2,115
6,350
-

152,572

153,260

Note 7a
Fixed Assets
Depreciating Assets
GK Shed & Caravan
Plant &
Swingroom
SiteCaravansEquipmentBuggies

COST
As at 1st January 2010127,588 15,428
Additions
-

126,620
-

Total

263,157
7,780

19,050
850

551,843
8,630

As at 31st December 2010127,58815,428126,620 270,937

19,900

560,473

DEPRECIATION
As at 1st January 20105,000
Provided in year
5,000

7,307
1,218

56,509
12,662

154,540
29,099

9,525
6,775

232,881
54,754

69,171

183,639

16,300

287,635

As at 31st December 2010117,5886,903 57,449

87,298

3,600

272,838

As at 31st December 2009122,5888,121 70,111

108,617

9,525

318,962

As at 31st December 201010,0008,525

NET BOOK VALUE

Note 7b
Fixed Assets
Non-Depreciating Assets

Clubhouse
Golf Course & Irrigation
Trophies

2010

2009

699,030
33,452
14,431

699,030
33,452
14,431

746,913

746,913

2010

2009

Note 8
Stocks

Bar stock
Catering stock
Ties and badges
Cleaning materials
Course materials
Stationery
Heating oil
Gas

3,370
1,854
1,490
350
4,495
1,750
600
1,350

2,909
1,940
1,660
310
5,741
1,970
340
950

15,259

15,820

Note 9
Cash in hand and at bank
2010

Cash in hand
Bank current account
39,321
Bank deposit account
Ladies section bank account
528
Piranos bank account

2009

4,729

8,420
19,231

54,543

109,000
615

352

271

79,470

157,540

2010

2009

23,285
6,166
8,029
4,220
(2,492)
4,687
15,825

12,667
5,992
6,940
19,820
20,001
5,309
67,292

Note 10
Creditors and Accruals

Trade and sundry creditors

Members card balances
Fairways deposits
Accruals
VAT
PAYE
Hire purchase outstanding

59,720

138,021

Note 11
CASC Benefit Reserve

Balance brought forward

Benefit for year

2010

2009

10,413
-

16,085
15,144
31,229

Transferred to accumulated fund

(re changing room refurbishment)

10,413
-

20,816

Balance carried forward

10,413

Note 12
Caravans Renewals Reserve
2010

Balance brought forward

From (to) accumulated fund
21,640

2009

107,083

85,443
(107,083)

Balance carried forward

107,083

Note 13
Accumulated Fund

Balance brought forward

Surplus for year
From CASC benefit reserve

Deficit for year

47,694
To caravans renewals reserve
To CASC benefit reserve
-

Balance carried forward

2010

2009

939,484
107,083
10,413

957,539
20,816

1,056,980

978,355
2,087

21,640
15,144

47,694

38,871

1,009,286

939,484