Company Registration No. 00522647 (England and Wales)
THE ENVILLE GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
THE ENVILLE GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
CONTENTS
Page
Balance sheet
5
Notes to the financial statements
6 - 10
THE ENVILLE GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 1 -

Fellow members,

 

The year since our last AGM has been somewhat unusual. The AGM was not held until April then following the passing of tabled AGM resolutions our previous Chair decided to step down.

 

As a result, my year in the Chair did not start until July, when I was honoured to be elected to the vacant position by you, the members.

 

I would like to thank the previous Chair, for the dedication he gave to the position and for the work he and the Board undertook.

 

At the AGM, a number of new non-execs were elected to the Board, and subsequently more were co-opted to ensure we had the prescribed number of eight Directors. There has been a steep learning curve as the new Board took shape and got to grips with new roles, responsibilities, and challenges but I am pleased to say we are in a good place and working collaboratively to deliver on members’ wishes for your Club. It was disappointing to see the early departure of our newly elected Finance Director, Nick Wharton, for personal reasons, and I would like to take the opportunity personally thank Nick for the amount of time and effort he put into his role.

 

Although I have not had much time in the role it was critical, we understood where we were financially and had timely management accounts to allow us to manage the club. Additionally, I was aware members needed to enjoy better updates on all club matters so improving communications is key.

 

Just before Christmas we distributed the clubs first newsletter. The feedback has been very positive, and I will ensure we build on this by producing future editions quarterly. We asked you to help us understand what matters to you through a recent survey. Again, we have had a superb response. The information is now being analysed and I will ensure members are fully aware of the outcomes and plans.

 

By now you will have seen the report detailing the outcome undertaken through the financial review. This was a first class and necessary piece of work. Importantly it identified future risks whilst allowing us to understand what funds are available for investment in our club.

 

The financial results are again very encouraging for the year, with increases in revenues and overheads controlled well in an inflationary period.

 

The key financial drivers underpinning the profit for the year of £132,825 (2022: £119,745) were:

 

 

 

THE ENVILLE GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 2 -

 

 

 

Capital expenditure in the year totalled £342,165.

 

 

 

 

 

As indicated in this report last year the Board have continued their commitment to improving the club’s cash position. As mentioned earlier the Finance Committee have concluded their Financial Review, as requested by the members at the April 2023 AGM, presented to the Board and the results and recommendations shared with the members. It has been accepted by the Board that the club will continue to maintain a level of cash reserves to cover identified risks and future unidentified risks.

THE ENVILLE GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -

The year-end cash position was pleasing, Net Funds (after deducting the remaining £30,003 Covid bounce back loan) finishing at £677,728 compared with £701,408 in the previous year, a reduction of £23,680. Cash generated from operations was £299,880 (2022: £301,480); however capital expenditure was higher at £342,164 (2022: £189,195). Our cash position is a result of four satisfactory years of good profit and associated cash generation, underpinned by a full playing membership.

 

Our club in 2023, like businesses and golf clubs across the UK, did experience upward pressure on our overheads. Inflationary increases were experienced in our course materials, petrol costs, food for our catering, energy, and general overhead costs. The club also continued to maintain employees pay and fulfil our legal commitment to pay the National Living Wage.

 

The Board remains committed to delivering at least a Break-Even Profit position or small Profit for 2023/4, losses are not seen as a sustainable position for the club. The Board will continue to measure financial performance against budget, carefully monitoring the key drivers and focused on planning and budgeting not just for the immediate but the longer term. The total budget available for capital projects for 2023/24 and 2024/25 is a combined £400,000; you the members will be consulted as to the actual projects that are approved and go forward.

 

Our financial results continue to reflect the continuing excellent job of “Team Enville,” paid staff and volunteers alike. A big thank you to all of you who have contributed ensuring the immediate and future success of the club. Our paid staff teams continued to be admirably led by our General Manager and Course Manager.

 

Whilst 2023 was another successful year reflected in a set of sound financial results; the Board will continue to plan out as far as possible to mitigate risks and help secure the long-term success of the club.

 

 

Review of the Year

 

There have been many golfing success stories at the Club this year which just shows the competitive nature of our members and the depth of talent this great Club produces. Of particular note are two of our younger members, James Claridge and Ben Bolton, both of whom are flying the flag for Enville in the England National Team, alongside significant individual victories, including the Berkhamsted Trophy and West of Ireland Open for James, and the Faldo Series Junior Tour Grand Final, played in the UAE, for Ben.

 

Closer to home and Enville members picked up a number of trophies in Staffordshire championships. Junior member, Ronnie Groves, won both the Boys Open and the Boys Under-16 Championships, Oliver Perks triumphed in the Men’s Championship (Nett), whilst Mike Deeley took a haul of three trophies with individual victories in the Senior Matchplay and Seniors Championship (Gross), and then the Seniors 4BBB Medal (Gross) playing with another Enville member, Colin Wooley.

 

For the rest of us mere golfing mortals, there has been some incredible golf played in Club competitions, various section matches, B-Teams, Scratch Teams, West Midlands League, and Elite Leagues. The pinnacle for any club golfer must be winning your Club Championship and it was a delight for me to see our 2023 men’s and ladies’ Club Champions collect their trophies at the year-end Prize Presentation Evening: huge congratulations to Richard Hartill and Helen Peters.

THE ENVILLE GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 4 -

There were a couple of great honours bestowed upon two of our lady members this year. Charlotte Peters was selected to be the next Vice Captain for the 2nd Team of the Staffordshire Ladies County Golf Association for 2024-26, and Sue Simmons was rewarded for her incredible contribution to ladies’ golf, being selected to be the next President of the Staffordshire Vets Ladies Golf Association. I wish both ladies all the best for their respective tenures.

 

As alluded to earlier, it is imperative that we remember the importance of our staff team for delivering a facility that is the envy of the Midlands, and beyond. Our Course Manager, Andy Wood, and his team, continue to work tirelessly to provide us with two fantastic courses, and a great practice facility, year-round. Our Pro Shop Team, Richard, Simon, and Scott, continue to provide an exceptional shop and great service to our members in all areas of ‘golf’ and I look forward to seeing this relationship strengthen over the coming year, for the benefit of the Club and our members. Our General Manager, Colin White, has had a busy and challenging first year but he and the Clubhouse and Office teams have worked hard to keep the Club running effectively and ensure members have a pleasant experience off the course. I am happy to welcome Matt Foster to the position of Head Chef. We are all aware of the many difficulties within the food industry and the issues we have had to work through in the kitchen, over the last 12-18 months, has had a negative effect on both the financial performance and member experience in this area. With Matt now on-board working with Steve and Janine, I am confident of soon being able to deliver an off-course experience to match the on-course one.

 

We launched a member survey towards the end of December which seeks to gain a deep insight into how members are feeling and wish to see more of at Enville. The Board are analysing this data, which will be fed back to members, and will be used to enable us to develop and present suitable strategies to the membership, to deliver what the majority wish.

Mr P J Purssey
Chairman
18 January 2024
THE ENVILLE GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 5 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
961,350
756,000
Current assets
Stocks
13,823
14,082
Debtors
4
66,323
65,319
Cash at bank and in hand
707,731
742,662
787,877
822,063
Creditors: amounts falling due within one year
5
(432,478)
(368,752)
Net current assets
355,399
453,311
Total assets less current liabilities
1,316,749
1,209,311
Creditors: amounts falling due after more than one year
6
(109,283)
(134,670)
Net assets
1,207,466
1,074,641
Reserves
Income and expenditure account
1,207,466
1,074,641
Members' funds
1,207,466
1,074,641

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 18 January 2024 and are signed on its behalf by:
Mr N W White
Mr P J Purssey (Chairman)
Director
Director
Company registration number 00522647 (England and Wales)
THE ENVILLE GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
1
Accounting policies
Company information

The Enville Golf Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Highgate Common, Enville, Stourbridge, West Midlands, DY7 5BN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Expenses include VAT where applicable as the company can only reclaim a small portion.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
23 year straight line
Plant and machinery
2-23 year straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE ENVILLE GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 7 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

Corporation tax arises on the club's investment income. Due to its mutual trading status, the club is not liable to corporation tax on its trading activities.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

THE ENVILLE GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 8 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
32
31
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2022
60,489
3,184,148
3,244,637
Additions
-
0
342,164
342,164
Disposals
-
0
(1,323,937)
(1,323,937)
At 30 September 2023
60,489
2,202,375
2,262,864
Depreciation and impairment
At 1 October 2022
16,490
2,472,147
2,488,637
Depreciation charged in the year
2,537
124,497
127,034
Eliminated in respect of disposals
-
0
(1,314,157)
(1,314,157)
At 30 September 2023
19,027
1,282,487
1,301,514
Carrying amount
At 30 September 2023
41,462
919,888
961,350
At 30 September 2022
43,999
712,001
756,000
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
91
Other debtors
66,323
65,228
66,323
65,319
THE ENVILLE GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 9 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
11,111
11,111
Trade creditors
198,394
129,012
Corporation tax
1,756
51
Other taxation and social security
17,028
15,492
Other creditors
204,189
213,086
432,478
368,752
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
18,892
30,143
Other creditors
90,391
104,527
109,283
134,670
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Frances Clapham
Statutory Auditor:
CK Audit
Date of audit report:
1 February 2024
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
2,021,931
2,275,255
THE ENVILLE GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
9
Operating lease commitments
(Continued)
- 10 -

Included in the above is a commitment for rent in relation to the Enville Estate, which, totals £1,870,000 (2022 - £1,980,000). The balance of the remaining commitments relates to course machinery - £151,931 (2022 - £295,255).

10
Capital commitments

Amounts contracted for but not provided in the financial statements:

2023
2022
£
£
Acquisition of tangible fixed assets
8,470
-
11
Related party transactions

The only director whose subscription was waived in the year was the Finance Director, 50% waived.

2023-09-302022-10-01false01 February 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedMr J BowdenMr N W WhiteMr S HartMr J UphoffMr N ZachariasMr J W HarrisMr G BrownMr A ClaridgeMrs S B CrawfordMr P J Purssey (Chairman)Mr E E WedderburnMr N B E WhartonMr C  Whitefalse005226472022-10-012023-09-30005226472023-09-30005226472022-09-3000522647core:LandBuildings2023-09-3000522647core:OtherPropertyPlantEquipment2023-09-3000522647core:LandBuildings2022-09-3000522647core:OtherPropertyPlantEquipment2022-09-3000522647core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3000522647core:CurrentFinancialInstrumentscore:WithinOneYear2022-09-3000522647core:Non-currentFinancialInstrumentscore:AfterOneYear2023-09-3000522647core:Non-currentFinancialInstrumentscore:AfterOneYear2022-09-3000522647core:CurrentFinancialInstruments2023-09-3000522647core:CurrentFinancialInstruments2022-09-3000522647core:Non-currentFinancialInstruments2023-09-3000522647core:Non-currentFinancialInstruments2022-09-3000522647core:RetainedEarningsAccumulatedLosses2023-09-3000522647core:RetainedEarningsAccumulatedLosses2022-09-3000522647bus:Director22022-10-012023-09-3000522647bus:Chairman2022-10-012023-09-3000522647core:LandBuildingscore:LongLeaseholdAssets2022-10-012023-09-3000522647core:PlantMachinery2022-10-012023-09-30005226472021-10-012022-09-3000522647core:LandBuildings2022-09-3000522647core:OtherPropertyPlantEquipment2022-09-30005226472022-09-3000522647core:LandBuildings2022-10-012023-09-3000522647core:OtherPropertyPlantEquipment2022-10-012023-09-3000522647core:WithinOneYear2023-09-3000522647core:WithinOneYear2022-09-3000522647bus:CompanyLimitedByGuarantee2022-10-012023-09-3000522647bus:SmallCompaniesRegimeForAccounts2022-10-012023-09-3000522647bus:FRS1022022-10-012023-09-3000522647bus:Audited2022-10-012023-09-3000522647bus:Director12022-10-012023-09-3000522647bus:Director32022-10-012023-09-3000522647bus:Director42022-10-012023-09-3000522647bus:Director52022-10-012023-09-3000522647bus:Director62022-10-012023-09-3000522647bus:Director72022-10-012023-09-3000522647bus:Director82022-10-012023-09-3000522647bus:Director92022-10-012023-09-3000522647bus:Director102022-10-012023-09-3000522647bus:Director112022-10-012023-09-3000522647bus:Director122022-10-012023-09-3000522647bus:CompanySecretary12022-10-012023-09-3000522647bus:FullAccounts2022-10-012023-09-30xbrli:purexbrli:sharesiso4217:GBP