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REGISTERED NUMBER: 12306188 (England and Wales)















Piltdown Golf Club Ltd

Financial Statements for the Year Ended 31 December 2023






Piltdown Golf Club Ltd (Registered number: 12306188)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Piltdown Golf Club Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr P N Fairbairn
Mr P Sellars
Mrs G M Williams
Mr A H Shaw
Mr J Turzynski





SECRETARY: Mr P H L Bonsall





REGISTERED OFFICE: Golf Club Lane
Piltdown
Uckfield
East Sussex
TN22 3XB





REGISTERED NUMBER: 12306188 (England and Wales)





AUDITORS: Swindells LLP
Chartered Accountants
and Statutory Auditor
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Piltdown Golf Club Ltd (Registered number: 12306188)

Balance Sheet
31 December 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,575,030 1,336,230

CURRENT ASSETS
Stocks 5 12,030 9,948
Debtors 6 97,808 56,125
Cash at bank and in hand 7 449,168 651,856
559,006 717,929
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

8

584,025

613,141
NET CURRENT (LIABILITIES)/ASSETS (25,019 ) 104,788
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,550,011

1,441,018

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

9

331,783

267,016
NET ASSETS 1,218,228 1,174,002

RESERVES
Junior fund 11 2,512 3,319
Income and expenditure account 11 1,215,716 1,170,683
1,218,228 1,174,002

Piltdown Golf Club Ltd (Registered number: 12306188)

Balance Sheet - continued
31 December 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 and Expenditure Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2024 and were signed on its behalf by:




Mr A H Shaw - Director



Mr P Sellars - Director


Piltdown Golf Club Ltd (Registered number: 12306188)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Piltdown Golf Club Ltd 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.

Income
Subscriptions from members are shown after deducting rebates in respect of the members' unsecured loans.

Entrance fees are credited to income in the year in which they are received. Fees payable by instalment and outstanding at the year end are shown in other debtors and the accrued income in other creditors.

Income in the accounts is shown net of value added tax (where applicable).

Tangible fixed assets
Depreciation is calculated to write off the cost of all tangible fixed assets, over their estimated useful lives at the following rates:

Freehold propertystraight line over 50 years
Freehold landnon-depreciating
Outbuildingsstraight line over 20 years
Other assetsstraight line between 2 and 20 years

Stocks
Stocks are valued at the lower of cost and net realisable value after making due provision for obsolescence.

Taxation
The club is liable to corporation tax on its investment income only.

Piltdown Golf Club Ltd (Registered number: 12306188)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Government grants
Government grants in respect of capital expenditure are credited to a deferred income account and released to profit over the expected useful lives of the relevant assets in equal annual instalments.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Hire purchase and leasing commitments
Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract.

Reserves and funds
Retained earnings are used in accordance with the Articles of Association at the discretion of the directors.

Other funds are created and maintained for particular restricted purposes and further details of these are included in note 11.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 20 ) .

4. TANGIBLE FIXED ASSETS
Freehold Course Course
property improvements plant
£    £    £   
COST
At 1 January 2023 665,963 1,051,403 568,977
Additions - 68,978 204,528
Disposals - - (53,927 )
At 31 December 2023 665,963 1,120,381 719,578
DEPRECIATION
At 1 January 2023 371,814 428,516 365,497
Charge for year 14,118 59,045 56,933
Eliminated on disposal - - (53,927 )
At 31 December 2023 385,932 487,561 368,503
NET BOOK VALUE
At 31 December 2023 280,031 632,820 351,075
At 31 December 2022 294,149 622,887 203,480

Piltdown Golf Club Ltd (Registered number: 12306188)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Auto
Clubhouse water and Driving
equipment Sewerage range Totals
£    £    £    £   
COST
At 1 January 2023 366,241 112,671 60,333 2,825,588
Additions 55,558 68,161 6,150 403,375
Disposals - - - (53,927 )
At 31 December 2023 421,799 180,832 66,483 3,175,036
DEPRECIATION
At 1 January 2023 217,962 80,889 24,680 1,489,358
Charge for year 23,436 6,712 4,331 164,575
Eliminated on disposal - - - (53,927 )
At 31 December 2023 241,398 87,601 29,011 1,600,006
NET BOOK VALUE
At 31 December 2023 180,401 93,231 37,472 1,575,030
At 31 December 2022 148,279 31,782 35,653 1,336,230

Included within the net book value of tangible fixed assets is £278,430 (2022 - £114,672) in respect of assets held under finance leases. Depreciation for the year on those assets was £40,524 (2022 - £21,025).

At December 2023, the cost of the freehold property comprised freehold land at Piltdown, the clubhouse with its various extensions and other buildings, including the professional's shop, the plant shed and workshop.

5. STOCKS
2023 2022
as restated
£    £   
Bar 6,903 5,299
Catering 5,127 4,649
12,030 9,948

Piltdown Golf Club Ltd (Registered number: 12306188)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 400 100
Other debtors 97,408 56,025
97,808 56,125

7. CASH AT BANK AND IN HAND
2023 2022
as restated
£    £   
Barclays business saver
account 356,708 429,906
Barclays current account 91,632 220,891
Cash in hand 828 1,059
449,168 651,856

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 20,425 20,000
Hire purchase contracts (see note 10) 76,819 37,068
Trade creditors 417,338 486,995
Taxation and social security 18,057 19,713
Other creditors 51,386 49,365
584,025 613,141

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£    £   
Bank loans 37,935 58,787
Hire purchase contracts (see note 10) 140,276 50,976
Other creditors 153,572 157,253
331,783 267,016

Piltdown Golf Club Ltd (Registered number: 12306188)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
as restated
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Members' unsecured loan
2023-2027 40,000 38,965
2017 members' unsecured loans - 49,000
40,000 87,965

The first annual repayment for the members' loan 2023-27 is now not expected to be before 31 December 2028.

The members 2017 unsecured members' loans are repayable to members 10 years from the date of the loan agreement or within one year of the lender ceasing to be a member of the club, or earlier at the option of the club.

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
as restated
£    £   
Net obligations repayable:
Within one year 76,819 37,068
Between one and five years 140,276 50,976
217,095 88,044

Non-cancellable operating leases
2023 2022
as restated
£    £   
Within one year 13,336 7,947
Between one and five years 37,585 21,186
In more than five years - 590
50,921 29,723

Piltdown Golf Club Ltd (Registered number: 12306188)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. RESERVES
Income
and
expenditure Junior
account fund Totals
£    £    £   

At 1 January 2023 1,202,409 3,319 1,205,728
Prior year adjustment (31,726 ) (31,726 )
1,170,683 1,174,002
Surplus for the year 45,033 45,033
Fund utilisation - (807 ) (807 )
At 31 December 2023 1,215,716 2,512 1,218,228

The junior fund represents a donation from a member of the club. This fund will be used to supplement various junior events in the future, including the Junior Open.

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

The Report of the Auditors was unqualified.

Melanie Richardson BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Swindells LLP

13. CAPITAL COMMITMENTS

At the year end, the club had capital commitments of £86,000 (2022 - £42,600) in respect of the purchase of course plant and machinery and the installation of a new irrigation tank, which have not been provided for in these financial statements.