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REGISTERED NUMBER: 02931379 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BEARWOOD LAKES GOLF CLUB LIMITED

BEARWOOD LAKES GOLF CLUB LIMITED (REGISTERED NUMBER: 02931379)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BEARWOOD LAKES GOLF CLUB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: G R Holloway
I J Jackson





SECRETARY: N Campling





REGISTERED OFFICE: The Clubhouse
Bearwood Lakes Golf Club
Bearwood Road
Wokingham
Berkshire
RG41 4SJ





REGISTERED NUMBER: 02931379 (England and Wales)





ACCOUNTANTS: MGR SD Limited
Chartered Accountants
55 Loudoun Road
London
NW8 0DL

BEARWOOD LAKES GOLF CLUB LIMITED (REGISTERED NUMBER: 02931379)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,301,823 3,398,803

CURRENT ASSETS
Stocks 5 147,647 131,455
Debtors 6 146,264 105,446
Cash at bank and in hand 742,581 433,355
1,036,492 670,256
CREDITORS
Amounts falling due within one year 7 (1,150,451 ) (1,301,609 )
NET CURRENT LIABILITIES (113,959 ) (631,353 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,187,864

2,767,450

CREDITORS
Amounts falling due after more than one year 8 (1,179,538 ) (1,986,034 )

PROVISIONS FOR LIABILITIES 10 (75,679 ) (74,018 )
NET ASSETS 1,932,647 707,398

CAPITAL AND RESERVES
Called up share capital 11 12,501 12,501
Share premium 2,590,575 2,195,675
Retained earnings (670,429 ) (1,500,778 )
SHAREHOLDERS' FUNDS 1,932,647 707,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BEARWOOD LAKES GOLF CLUB LIMITED (REGISTERED NUMBER: 02931379)

BALANCE SHEET - continued
31 MARCH 2023


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 30 May 2023 and were signed on its behalf by:





G R Holloway - Director


BEARWOOD LAKES GOLF CLUB LIMITED (REGISTERED NUMBER: 02931379)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Bearwood Lakes Golf Club Limited is a private company, limited by shares , 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 represents golf club joining fees and subscriptions plus amounts received in respect of golf shop and clubhouse sales excluding value added tax. Golf club joining fees are recognised in full on acceptance of membership whilst subscriptions are recognised over the period to which the subscription relates. All income arises in the United Kingdom.

Tangible fixed assets
The cost of tangible fixed assets is written off by equal annual instalments over their estimated useful lives as follows:

Long leasehold and improvements1%, 2% and 4% on cost
Plant and machinery4%, 5%, 10% and 20% on
cost

Fixtures and fittings10% and 20% on cost
Motor vehicles25% on cost
Computer equipment25% on cost

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 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.


BEARWOOD LAKES GOLF CLUB LIMITED (REGISTERED NUMBER: 02931379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
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 profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2022 - 62 ) .

4. TANGIBLE FIXED ASSETS
Long
leasehold Fixtures
and Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 April 2022 4,236,456 1,852,718 321,615
Additions 20,302 42,284 2,800
At 31 March 2023 4,256,758 1,895,002 324,415
DEPRECIATION
At 1 April 2022 1,509,290 1,233,230 280,372
Charge for year 63,737 95,983 7,329
At 31 March 2023 1,573,027 1,329,213 287,701
NET BOOK VALUE
At 31 March 2023 2,683,731 565,789 36,714
At 31 March 2022 2,727,166 619,488 41,243

BEARWOOD LAKES GOLF CLUB LIMITED (REGISTERED NUMBER: 02931379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 6,495 173,113 6,590,397
Additions - 12,164 77,550
At 31 March 2023 6,495 185,277 6,667,947
DEPRECIATION
At 1 April 2022 1,623 167,079 3,191,594
Charge for year 1,624 5,857 174,530
At 31 March 2023 3,247 172,936 3,366,124
NET BOOK VALUE
At 31 March 2023 3,248 12,341 3,301,823
At 31 March 2022 4,872 6,034 3,398,803

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 147,647 131,455

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 55,756 71,800
Other debtors 90,508 33,646
146,264 105,446

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 165,008 115,312
Taxation and social security 163,595 127,879
Other creditors 821,848 1,058,418
1,150,451 1,301,609

BEARWOOD LAKES GOLF CLUB LIMITED (REGISTERED NUMBER: 02931379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Amounts owed to group undertakings - 393,624
Other creditors 1,179,538 1,592,410
1,179,538 1,986,034

Debentures represent an unsecured obligation of the company and are redeemable at par if a debenture holder resigns their membership of the Golf Club.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 174,725 173,706
Between one and five years 656,531 664,882
In more than five years 10,874,053 11,036,353
11,705,309 11,874,941

10. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 75,679 74,018

Deferred
tax
£   
Balance at 1 April 2022 74,018
Charge to Income Statement during year 1,661
Balance at 31 March 2023 75,679

BEARWOOD LAKES GOLF CLUB LIMITED (REGISTERED NUMBER: 02931379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
1 Ordinary £1 1 1

Allotted and issued:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
49,999 A Ordinary £1 12,500 12,500

12. RELATED PARTY DISCLOSURES

The company considers its parent company Ward Wilson Investments Limited (hereafter 'WWIL') to be a related party due to the relationship between the entities.

During the year the company paid rent of £162,299 (2022: £162,299) to WWIL. As the inter-company balance existing between the entities was deeemd to be no longer repayable it has been written off.

At the balance sheet date the company owed WWIL £nil (2022: £393,624).

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G R Holloway by virtue of his shareholding in Ward Wilson Investments Limited.