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REGISTERED NUMBER: 07875086 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

KINGSDOWN GOLF CLUB LIMITED

KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KINGSDOWN GOLF CLUB LIMITED

Company Information
for the year ended 31 March 2023







DIRECTORS: M N Taylor
S V Lyon
A Noble
R Talbot
S Kelley





SECRETARY: D M Nelson





REGISTERED OFFICE: Kingsdown Golf Club
Kingsdown
Corsham
Wiltshire
SN13 8BS





REGISTERED NUMBER: 07875086 (England and Wales)





AUDITORS: Richardson Swift Audit Ltd
Chartered Accountants
Statutory Auditor
11 Laura Place
Bath
BA2 4BL

KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 (2,006,151 ) (2,060,952 )
Tangible assets 5 2,766,848 2,829,613
760,697 768,661

CURRENT ASSETS
Stocks 4,000 4,000
Debtors 6 11,387 2,775
Cash at bank 814,591 710,482
829,978 717,257
CREDITORS
Amounts falling due within one year 7 538,079 540,171
NET CURRENT ASSETS 291,899 177,086
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,052,596

945,747

CREDITORS
Amounts falling due after more than one
year

8

15,314

35,663
NET ASSETS 1,037,282 910,084

RESERVES
Income and expenditure account 1,037,282 910,084
1,037,282 910,084

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 10 November 2023 and were signed on its behalf by:




M N Taylor - Director



R Talbot - Director


KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Kingsdown Golf Club 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually
associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are
provided in accordance with the stage of completion of the contract when all of the following
conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life
cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Course developments - 5 - 20% on cost
Driving range - 5 -10 % on cost
Plant & machinery - 10 - 20% on cost
Fixtures and fittings - 10 - 20% on cost

KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying
amount is reduced to its selling price less costs to complete and sell. The impairment loss is
recognised immediately in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Negative
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 (2,904,837 )
AMORTISATION
At 1 April 2022 (843,885 )
Amortisation for year (54,801 )
At 31 March 2023 (898,686 )
NET BOOK VALUE
At 31 March 2023 (2,006,151 )
At 31 March 2022 (2,060,952 )

5. TANGIBLE FIXED ASSETS
Freehold Course Driving
property developments range
£    £    £   
COST
At 1 April 2022 2,525,580 97,184 189,869
Additions 1 - -
Disposals (3,083 ) - -
At 31 March 2023 2,522,498 97,184 189,869
DEPRECIATION
At 1 April 2022 225,500 13,259 109,125
Charge for year 22,000 8,400 12,481
At 31 March 2023 247,500 21,659 121,606
NET BOOK VALUE
At 31 March 2023 2,274,998 75,525 68,263
At 31 March 2022 2,300,080 83,925 80,744

KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
Plant & and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 475,000 463,502 3,751,135
Additions 48,399 10,008 58,408
Disposals - - (3,083 )
At 31 March 2023 523,399 473,510 3,806,460
DEPRECIATION
At 1 April 2022 268,987 304,651 921,522
Charge for year 35,549 39,660 118,090
At 31 March 2023 304,536 344,311 1,039,612
NET BOOK VALUE
At 31 March 2023 218,863 129,199 2,766,848
At 31 March 2022 206,013 158,851 2,829,613

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 11,387 2,775

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 20,707 30,297
Trade creditors 23,467 14,192
Taxation and social security 24,177 11,941
Other creditors 469,728 483,741
538,079 540,171

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 15,314 35,663

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

The Report of the Auditors was unqualified.

Catherine Edwards BSc ACA (Senior Statutory Auditor)
for and on behalf of Richardson Swift Audit Ltd

10. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements

KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

11. COMPANY STATUS

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10. towards the assets of the company in the event of liquidation.

12. RELATED PARTY TRANSACTIONS

Some of the directors are fee paying members of the golf club.