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REGISTERED NUMBER: 06630081 (England and Wales)








HERSHAM GOLF CLUB LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

HERSHAM GOLF CLUB LIMITED

COMPANY INFORMATION
for the year ended 30 June 2023







DIRECTOR: M Arkin





REGISTERED OFFICE: Hersham Golf Club
Assher Road
Hersham
Walton-on-Thames
Surrey
KT12 4RA





REGISTERED NUMBER: 06630081 (England and Wales)





ACCOUNTANTS: Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR

HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 89,021 78,218
89,021 78,218

CURRENT ASSETS
Stocks 13,766 13,062
Debtors 6 29,317 30,612
Cash at bank and in hand 930,637 820,485
973,720 864,159
CREDITORS
Amounts falling due within one year 7 (285,191 ) (331,862 )
NET CURRENT ASSETS 688,529 532,297
TOTAL ASSETS LESS CURRENT LIABILITIES 777,550 610,515

CREDITORS
Amounts falling due after more than one year 8 (1,007,739 ) (914,480 )
NET LIABILITIES (230,189 ) (303,965 )

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings (240,189 ) (313,965 )
SHAREHOLDERS' FUNDS (230,189 ) (303,965 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081)

BALANCE SHEET - continued
30 June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 March 2024 and were signed by:





M Arkin - Director


HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2023


1. STATUTORY INFORMATION

Hersham 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.

The financial statements have been prepared on a going concern basis. The ultimate parent company has confirmed that it will provide financial support if required.

Turnover
Turnover is recognised when revenue and associated costs can be measured reliably and future economic benefits are probable. Revenue represents fair consideration received for the sales of goods and services in the normal course of business, excluding value added tax.

Revenue from green fees, adventure golf, merchandise and bar and catering services are recognised when the goods and services are provided. Membership income is recognised over the period to which it relates.

Goodwill
Goodwill is the amount paid in connection with the acquisition of the golf club business in 2009 and is amortised over its useful life of 10 years. Impairment reviews are carried out, with a provision being made where there is evidence of a permanent diminution in value. The Goodwill in the accounts is fully amortised.

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.

Computer software is fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery- 20% on cost
Fixtures and fittings- 15% on cost
Computer equipment- 25% reducing balance
Motor Vehicles- 20% reducing balance

Tangible fixed assets are stated at their historic cost price less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for use. The asset's residual values, useful lives and depreciation methods are reviewed if there is an indication of significant change since the last reporting date.

On disposal the difference between the net proceeds and carrying amount of the item sold is recognised in the profit and loss account, and included in administrative expenses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023


2. ACCOUNTING POLICIES - continued
Taxation
Current tax is the amount of corporation tax payable in respect of taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the year end.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

All financial assets and liabilities are initially measured at transaction price (including transaction cost). The company has no financial assets classified at fair value through profit or loss.

All subsequent remeasurement of financial assets and liabilities are recognised at amortised cost using the effective interest rate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 28 ) .

HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 400,000 18,567 418,567
AMORTISATION
At 1 July 2022
and 30 June 2023 400,000 18,567 418,567
NET BOOK VALUE
At 30 June 2023 - - -
At 30 June 2022 - - -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 391,347
Additions 50,800
Disposals (105,131 )
At 30 June 2023 337,016
DEPRECIATION
At 1 July 2022 313,129
Charge for year 31,400
Eliminated on disposal (96,534 )
At 30 June 2023 247,995
NET BOOK VALUE
At 30 June 2023 89,021
At 30 June 2022 78,218

HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2022 67,876
Transfer to ownership (8,300 )
At 30 June 2023 59,576
DEPRECIATION
At 1 July 2022 44,045
Charge for year 11,916
Transfer to ownership (8,300 )
At 30 June 2023 47,661
NET BOOK VALUE
At 30 June 2023 11,915
At 30 June 2022 23,831

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 29,317 30,612

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 10,000 10,000
Hire purchase contracts (see note 10) 11,978 11,727
Trade creditors 73,944 57,003
Taxation and social security 38,213 48,891
Other creditors 151,056 204,241
285,191 331,862

The hire purchase liabilities are secured against the asset to which they relate.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 19,271 28,052
Hire purchase contracts (see note 10) 1,812 13,789
Amounts owed to parent entities 986,656 872,639
1,007,739 914,480

HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The hire purchase liabilities are secured against the asset to which they relate.

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 9,271 18,052

The loan is a Coronavirus Bounce Back Loan which attracts interest at a fixed rate of 2.5% and is unsecured.

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 11,978 11,727
Between one and five years 1,812 13,789
13,790 25,516

Non-cancellable operating leases
2023 2022
£    £   
Within one year - 1,440

HERSHAM GOLF CLUB LIMITED (REGISTERED NUMBER: 06630081)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023


11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
M Arkin
Balance outstanding at start of year 16,339 -
Amounts advanced 75,266 71,339
Amounts repaid (91,000 ) (55,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 605 16,339

The balance is repayable on demand and interest was charged on the directors loan at the official HMRC rate of interest for beneficial loan arrangements.

12. RELATED PARTY DISCLOSURES

During the year, rent of £60,000 (2022: £60,000) has been charged by Claudel Venture Holdings Limited, the immediate holding company.

At the year end a balance of £867,833 (2022: £756,997) was due to Claudel Venture Holdings Limited and £118,823 (2022: £115,642) was owed to the ultimate parent company, Claudel Limited. Interest was charged at 2.75% on the outstanding loans and amounted to £25,266 (2022: £22,385). The loans are repayable in more than 12 months.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HERSHAM GOLF CLUB LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hersham Golf Club Limited for the year ended 30 June 2023 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Hersham Golf Club Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hersham Golf Club Limited and state those matters that we have agreed to state to the director of Hersham Golf Club Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hersham Golf Club Limited and its director for our work or for this report.

It is your duty to ensure that Hersham Golf Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hersham Golf Club Limited. You consider that Hersham Golf Club Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hersham Golf Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Director, who obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.






Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR


13 March 2024