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REGISTERED NUMBER: 09794795 (England and Wales)











RBGC LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






RBGC LIMITED (REGISTERED NUMBER: 09794795)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


RBGC LIMITED

COMPANY INFORMATION
for the year ended 31 May 2023







DIRECTORS: P Furneaux
S Gough
T R Pearson
M B Rodden
Mrs K Mannion





SECRETARY: B Driver





REGISTERED OFFICE: The Club House
Court Road
Eltham
London
SE9 5AF





REGISTERED NUMBER: 09794795 (England and Wales)





AUDITORS: Berringers LLP
Chartered Accountants
and Statutory Auditors
Lygon House
50 London Road
Bromley
Kent
BR1 3RA

RBGC LIMITED (REGISTERED NUMBER: 09794795)

BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,837,387 3,792,202

CURRENT ASSETS
Stocks 26,836 30,475
Debtors 5 192,754 135,704
Cash at bank and in hand 1,371,701 1,202,220
1,591,291 1,368,399
CREDITORS
Amounts falling due within one year 6 1,275,531 1,137,681
NET CURRENT ASSETS 315,760 230,718
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,153,147

4,022,920

CREDITORS
Amounts falling due after more than one
year

7

2,009,781

2,101,392
NET ASSETS 2,143,366 1,921,528

TOTAL RESERVES
Total reserves 9 2,143,366 1,921,528
2,143,366 1,921,528

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 23 October 2023 and were signed on its behalf by:





P Furneaux - Director


RBGC LIMITED (REGISTERED NUMBER: 09794795)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2023

1. STATUTORY INFORMATION

RBGC Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises of subscriptions & locker rents, entrance fees, QCC income, green fees and house income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Course improvements and plant and
machinery

-

25% on reducing balance and 20% on reducing balance
House improvements - 15% on reducing balance
Cottages improvements - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance

Depreciation is not provided with respect to the the freehold property as, in the opinion of the directors, it is maintained to a standard that precludes the requirement to depreciate and therefore the carrying amount is a true and fair representation of the cost of the building.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current 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.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2022 - 35 ) .

RBGC LIMITED (REGISTERED NUMBER: 09794795)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Course
improvements
and plant
Freehold and House
property machinery improvements
£    £    £   
COST
At 1 June 2022 3,232,777 948,338 379,315
Additions - 57,345 35,058
At 31 May 2023 3,232,777 1,005,683 414,373
DEPRECIATION
At 1 June 2022 - 578,948 202,216
Charge for year - 75,935 28,046
At 31 May 2023 - 654,883 230,262
NET BOOK VALUE
At 31 May 2023 3,232,777 350,800 184,111
At 31 May 2022 3,232,777 369,390 177,099

Fixtures
Cottages and
improvements fittings Totals
£    £    £   
COST
At 1 June 2022 1,280 36,918 4,598,628
Additions - 67,576 159,979
At 31 May 2023 1,280 104,494 4,758,607
DEPRECIATION
At 1 June 2022 1,230 24,032 806,426
Charge for year 10 10,803 114,794
At 31 May 2023 1,240 34,835 921,220
NET BOOK VALUE
At 31 May 2023 40 69,659 3,837,387
At 31 May 2022 50 12,886 3,792,202

In addition to the fixed assets noted above the company owns various items of historical golfing memorabilia. These assets have no carrying value, however, the directors expect the potential fair value could be substantial for some items. As the assets are not held for sale, and an accurate valuation of the assets cannot be ascertained for accounting purposes due to the nature of the items, the directors consider it inappropriate to include a value in these financial statements. These items are currently insured for £1,902,500.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 192,754 135,704

RBGC LIMITED (REGISTERED NUMBER: 09794795)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 95,702 103,586
Taxation and social security 18,757 16,246
Other creditors 1,161,072 1,017,849
1,275,531 1,137,681

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 2,009,781 2,101,392

Amounts falling due in more than five years:

Repayable by instalments
Loan notes - more than 5 years 1,556,907 1,638,334

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 64,959 64,959
Between one and five years - 64,960
64,959 129,919

Included in non-cancellable operating leases is a capital commitment for the hire of course equipment. The lease payments due is equal to £64,959 per annum.

9. TOTAL RESERVES

Included in Total reserves is an accumulated surplus of £898,366 and the value of the net assets transferred from Royal Blackheath Golf Club totalling £1,245,000, in 2017.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Ricky Hutson BSc FCCA ACA (Senior Statutory Auditor)
for and on behalf of Berringers LLP

11. LIMITED BY GUARANTEE

The liability of each member is limited to £10, being the amount that each member undertakes to contribute to the assets of the company in the event of it being wound up while he is a member or within one year after he ceases to be a member, for-
(a) payment of the company's debts and liabilities contracted before he ceases to be a member,
(b) payment of the costs, charges and expenses of winding up, and
(c) adjustment of the rights of the contributories among themselves.