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Registration number: 00462157

Walmer And Kingsdown Golf Club (1948) Limited

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 30 June 2023

(filleted for filing purposes)

 

Walmer And Kingsdown Golf Club (1948) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Walmer And Kingsdown Golf Club (1948) Limited

Company Information

Chairman

Mr Ian Dunkerley

Directors

Mrs Pamela Mabbs

Mr Kevin Patrick Hall

Mr John Peter Boyd

Mr Mark Taylor

Mr Geoff Davis

Miss Jane S Willis

Mr Paul Woolhouse

Mr Christopher Coleman

Registered office

The Club House
The Leas
Kingsdown
Nr. Deal
Kent
CT14 8EP

Auditors

Batchelor Coop Ltd
Registered Auditors
The New Barn
Mill Lane
Eastry
Sandwich
Kent
CT13 0JW

 

Walmer And Kingsdown Golf Club (1948) Limited

(Registration number: 00462157)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

633,484

485,349

Current assets

 

Stocks

5

63,349

55,837

Debtors

6

58,254

90,634

Cash at bank and in hand

 

729,925

555,038

 

851,528

701,509

Creditors: Amounts falling due within one year

7

(644,642)

(442,280)

Net current assets

 

206,886

259,229

Total assets less current liabilities

 

840,370

744,578

Creditors: Amounts falling due after more than one year

7

(4,542)

(15,444)

Net assets

 

835,828

729,134

Reserves

 

Future capital projects reserve

25,634

25,634

Retained earnings

810,194

703,500

Total funds

 

835,828

729,134

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 September 2023 and signed on its behalf by:
 

.........................................
Mr Ian Dunkerley
Chairman

.........................................
Mrs Pamela Mabbs
Director

 

Walmer And Kingsdown Golf Club (1948) Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
The Club House
The Leas
Kingsdown
Nr. Deal
Kent
CT14 8EP
England

The principal place of business is:
The Leas
Kingsdown
Deal
Kent
CT14 8EP

These financial statements were authorised for issue by the Board on 26 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 27 September 2023 was Mark Batchelor BSc FCA, who signed for and on behalf of Batchelor Coop Ltd.

Revenue recognition

Turnover and investment income comprises the fair value of amounts receivable (net of Value Added Tax)) in respect of income from subscriptions, green fees and other income streams from members and visitors.

Membership subscriptions are allocated to the year that the period of membership relates to. Green fees are allocated to the period in which the rounds were played. Bar and catering income is allocated to the period in which the sales were made. Rental income is allocated to the year that the rent relates to.

 

Walmer And Kingsdown Golf Club (1948) Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Tax

The tax expense for the period comprises current tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property (excluding land)

2% straight line basis

Plant and machinery

10% straight line basis

Fixtures and fittings

10% straight line basis

Computer equipment

20% straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

The company operates a defined contribution pension scheme, and the pension charge represents the amount payable by the company to the fund in respect of the year.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2022 - 11).

 

Walmer And Kingsdown Golf Club (1948) Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 July 2022

412,642

315,600

525,685

1,074

1,255,001

Additions

144,631

20,956

23,394

-

188,981

At 30 June 2023

557,273

336,556

549,079

1,074

1,443,982

Depreciation

At 1 July 2022

43,519

274,392

450,667

1,074

769,652

Charge for the year

9,019

15,320

16,507

-

40,846

At 30 June 2023

52,538

289,712

467,174

1,074

810,498

Carrying amount

At 30 June 2023

504,735

46,844

81,905

-

633,484

At 30 June 2022

369,123

41,208

75,018

-

485,349

 

Walmer And Kingsdown Golf Club (1948) Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Included within the net book value of land and buildings above is £504,736 (2022 - £369,123) in respect of freehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

63,349

55,837

6

Debtors

Current

2023
£

2022
£

Trade debtors

2,530

2,321

Prepayments

1,811

18,347

Other debtors

53,913

69,966

 

58,254

90,634

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

10,902

10,902

Trade creditors

 

43,657

33,376

Taxation and social security

 

12,550

6,415

Other creditors

 

577,533

391,587

 

644,642

442,280

Due after one year

 

Loans and borrowings

8

4,542

15,444

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Finance lease liabilities

4,542

15,444

2023
£

2022
£

Current loans and borrowings

Finance lease liabilities

10,902

10,902

 

Walmer And Kingsdown Golf Club (1948) Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £11,246 (2022 - £20,850).