IRIS Accounts Production v23.3.1.45 00239074 Board of Directors 1.6.22 31.5.23 31.5.23 27.11.23 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh002390742022-05-31002390742023-05-31002390742022-06-012023-05-31002390742021-05-31002390742021-06-012022-05-31002390742022-05-3100239074ns10:Originalns15:EnglandWales2022-06-012023-05-3100239074ns14:PoundSterlingns10:Original2022-06-012023-05-3100239074ns10:Originalns10:Director12022-06-012023-05-3100239074ns10:Original2022-06-012023-05-3100239074ns10:Original2023-05-3100239074ns10:Originalns10:CompanyLimitedByGuarantee2022-06-012023-05-3100239074ns10:Originalns10:SmallEntities2022-06-012023-05-3100239074ns10:Originalns10:Audited2022-06-012023-05-3100239074ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3100239074ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3100239074ns10:Originalns10:FullAccounts2022-06-012023-05-3100239074ns10:Originalns10:Director52022-06-012023-05-3100239074ns10:Originalns10:Director72022-06-012023-05-3100239074ns10:Director8ns10:Original2022-06-012023-05-3100239074ns10:Originalns10:Director92022-06-012023-05-3100239074ns10:Director10ns10:Original2022-06-012023-05-3100239074ns10:Originalns10:Director112022-06-012023-05-3100239074ns10:CompanySecretary1ns10:Original2022-06-012023-05-3100239074ns10:Originalns10:RegisteredOffice2022-06-012023-05-3100239074ns10:Original2022-05-3100239074ns10:Originalns5:CurrentFinancialInstruments2023-05-3100239074ns10:Originalns5:CurrentFinancialInstruments2022-05-3100239074ns10:Originalns5:Non-currentFinancialInstruments2023-05-3100239074ns10:Originalns5:Non-currentFinancialInstruments2022-05-3100239074ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2023-05-3100239074ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2022-05-3100239074ns10:Originalns5:FurtherSpecificReserve2ComponentTotalEquity2023-05-3100239074ns10:Originalns5:FurtherSpecificReserve2ComponentTotalEquity2022-05-3100239074ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3100239074ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3100239074ns10:Originalns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-06-012023-05-3100239074ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-06-012023-05-3100239074ns10:Originalns5:PlantMachinery2022-06-012023-05-3100239074ns10:Originalns5:FurnitureFittings2022-06-012023-05-3100239074ns10:Original2021-06-012022-05-3100239074ns10:Originalns5:LandBuildings2022-05-3100239074ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-05-3100239074ns10:Originalns5:PlantMachinery2022-05-3100239074ns10:Originalns5:FurnitureFittings2022-05-3100239074ns10:Original2022-05-3100239074ns10:Originalns5:LandBuildings2022-06-012023-05-3100239074ns10:Originalns5:LandBuildings2023-05-3100239074ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2023-05-3100239074ns10:Originalns5:PlantMachinery2023-05-3100239074ns10:Originalns5:FurnitureFittings2023-05-3100239074ns10:Originalns5:LandBuildings2022-05-3100239074ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-05-3100239074ns10:Originalns5:PlantMachinery2022-05-3100239074ns10:Originalns5:FurnitureFittings2022-05-3100239074ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-05-3100239074ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-06-012023-05-3100239074ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-3100239074ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-05-3100239074ns10:Originalns5:ListedExchangeTradedns5:CostValuation2022-05-3100239074ns10:Originalns5:ListedExchangeTradedns5:AdditionsToInvestments2023-05-3100239074ns10:Originalns5:DisposalsRepaymentsInvestmentsns5:ListedExchangeTraded2023-05-3100239074ns10:Originalns5:ListedExchangeTradedns5:RevaluationsIncreaseDecreaseInInvestments2023-05-3100239074ns10:Originalns5:ListedExchangeTradedns5:CostValuation2023-05-3100239074ns10:Originalns5:ListedExchangeTraded2023-05-3100239074ns10:Originalns5:ListedExchangeTraded2022-05-3100239074ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3100239074ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3100239074ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3100239074ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3100239074ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2023-05-3100239074ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2022-05-3100239074ns10:Originalns5:HirePurchaseContracts2023-05-3100239074ns10:Originalns5:HirePurchaseContracts2022-05-3100239074ns10:Originalns5:WithinOneYear2023-05-3100239074ns10:Originalns5:WithinOneYear2022-05-3100239074ns5:BetweenOneFiveYearsns10:Original2023-05-3100239074ns5:BetweenOneFiveYearsns10:Original2022-05-3100239074ns10:Originalns5:AllPeriods2023-05-3100239074ns10:Originalns5:AllPeriods2022-05-3100239074ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3100239074ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2022-05-3100239074ns10:Originalns5:FurtherSpecificReserve2ComponentTotalEquity2022-05-3100239074ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-012023-05-31
REGISTERED NUMBER: 00239074 (England and Wales)















KINGS NORTON GOLF CLUB,LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023






KINGS NORTON GOLF CLUB,LIMITED (REGISTERED NUMBER: 00239074)

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


KINGS NORTON GOLF CLUB,LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: G R T Ray
I W Hughes
A D Parker
K J Stanton
S G Barnett
N Jandu
G Clark





SECRETARY: S Dougan





REGISTERED OFFICE: Brockhill Lane
Weatheroak
Nr. Alvechurch
Birmingham
B48 7ED





REGISTERED NUMBER: 00239074 (England and Wales)





AUDITORS: Sephton & Company LLP
Chartered Certified Accountants
Statutory Auditors
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

KINGS NORTON GOLF CLUB,LIMITED (REGISTERED NUMBER: 00239074)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,726,752 1,614,695
Investments 5 301,929 322,574
2,028,681 1,937,269

CURRENT ASSETS
Stocks 36,731 39,385
Debtors 6 119,560 46,727
Cash at bank and in hand 328,892 453,296
485,183 539,408
CREDITORS
Amounts falling due within one year 7 493,529 499,021
NET CURRENT (LIABILITIES)/ASSETS (8,346 ) 40,387
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,020,335

1,977,656

CREDITORS
Amounts falling due after more than one
year

8

57,500

117,228
NET ASSETS 1,962,835 1,860,428

RESERVES
Investment reserve 11 787,831 788,140
Capital reserve 11 629,130 629,130
Income and expenditure account 11 545,874 443,158
1,962,835 1,860,428

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 27 November 2023 and were signed on its behalf by:





S G Barnett - Director


KINGS NORTON GOLF CLUB,LIMITED (REGISTERED NUMBER: 00239074)

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


1. STATUTORY INFORMATION

Kings Norton 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, sales returns, rebates and discounts.

The company recognises revenue when:
- The amount of revenue can be reliably measured;
- It is probable that future economic benefits will flow to the entity: and
- Specific criteria have been met for each of the company's activities.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold land - not provided
Long leasehold - at varying rates on cost
Course and plant expenditure - at varying rates on cost and at variable rates on reducing balance
Fixtures & equipment - at varying rates on cost and at variable rates on reducing balance

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost is determined using First-in First-out (FIFO) methodology.

KINGS NORTON GOLF CLUB,LIMITED (REGISTERED NUMBER: 00239074)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, cash and bank balances and current asset investments. All such instruments are measured initially and subsequently at the transaction price.

At the end of each reporting period debt financial assets are assessed for impairment, and their carrying value reduced if necessary. Any impairment is recognised in the profit and loss account.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to surplus or deficit 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 42 (2022 - 36 ) .

KINGS NORTON GOLF CLUB,LIMITED (REGISTERED NUMBER: 00239074)

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


4. TANGIBLE FIXED ASSETS
Course
Freehold Long and plant Fixtures
land leasehold expenditure & equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 17,528 987,971 1,768,431 481,565 3,255,495
Additions - 65,792 227,632 33,421 326,845
Disposals - - (175,133 ) (17,774 ) (192,907 )
At 31 May 2023 17,528 1,053,763 1,820,930 497,212 3,389,433
DEPRECIATION
At 1 June 2022 - 491,356 779,135 370,309 1,640,800
Charge for year - 28,306 114,775 39,158 182,239
Eliminated on disposal - - (147,341 ) (13,017 ) (160,358 )
At 31 May 2023 - 519,662 746,569 396,450 1,662,681
NET BOOK VALUE
At 31 May 2023 17,528 534,101 1,074,361 100,762 1,726,752
At 31 May 2022 17,528 496,615 989,296 111,256 1,614,695

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Course
and plant
expenditure
£   
COST
At 1 June 2022
and 31 May 2023 145,255
DEPRECIATION
At 1 June 2022 83,977
Charge for year 15,319
At 31 May 2023 99,296
NET BOOK VALUE
At 31 May 2023 45,959
At 31 May 2022 61,278

KINGS NORTON GOLF CLUB,LIMITED (REGISTERED NUMBER: 00239074)

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


5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 June 2022 322,574
Additions 29,406
Disposals (49,742 )
Revaluations (309 )
At 31 May 2023 301,929
NET BOOK VALUE
At 31 May 2023 301,929
At 31 May 2022 322,574


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,833 2,713
Other debtors 113,727 44,014
119,560 46,727

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 30,000 30,000
Hire purchase contracts (see note 9) 25,356 26,175
Trade creditors 68,005 99,299
Taxation and social security 26,495 15,884
Other creditors 343,673 327,663
493,529 499,021

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 57,500 87,500
Hire purchase contracts (see note 9) - 29,728
57,500 117,228

KINGS NORTON GOLF CLUB,LIMITED (REGISTERED NUMBER: 00239074)

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


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 25,356 26,175
Between one and five years - 29,728
25,356 55,903

Non-cancellable operating leases
2023 2022
£    £   
Within one year 51,384 43,849
Between one and five years 33,826 36,541
85,210 80,390

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 25,356 55,903

11. RESERVES
Income
and
expenditure Investment Capital
account reserve reserve Totals
£    £    £    £   

At 1 June 2022 443,158 788,140 629,130 1,860,428
Surplus for the year 102,407 102,407
Transfer 309 (309 ) - -
At 31 May 2023 545,874 787,831 629,130 1,962,835

The transfer between the income and expenditure account and the investment reserve represents the gain or loss on the revaluation of investments.

There are no distributable reserves.

KINGS NORTON GOLF CLUB,LIMITED (REGISTERED NUMBER: 00239074)

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


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

The Report of the Auditors was unqualified.

Darren Paul Carter (Senior Statutory Auditor)
for and on behalf of Sephton & Company LLP

13. LIMITED BY GUARANTEE

The maximum liability per member upon winding up is restricted to £2.50.