Silverfin false false 31/12/2023 01/01/2023 31/12/2023 P Allerton 02/08/2022 R H Baggallry 17/03/2023 20/10/2022 J Bligh 17/03/2023 A Corbyn 13/03/2020 R Fage 17/03/2023 13/05/2022 B Lord 13/03/2020 D Nichols 01/09/2021 J M Richmond 15/03/2019 13 August 2024 no description of principal activity 05822581 2023-12-31 05822581 bus:Director1 2023-12-31 05822581 bus:Director2 2023-12-31 05822581 bus:Director3 2023-12-31 05822581 bus:Director4 2023-12-31 05822581 bus:Director5 2023-12-31 05822581 bus:Director6 2023-12-31 05822581 bus:Director7 2023-12-31 05822581 bus:Director8 2023-12-31 05822581 2022-12-31 05822581 core:CurrentFinancialInstruments 2023-12-31 05822581 core:CurrentFinancialInstruments 2022-12-31 05822581 core:Non-currentFinancialInstruments 2023-12-31 05822581 core:Non-currentFinancialInstruments 2022-12-31 05822581 core:OtherCapitalReserve 2023-12-31 05822581 core:OtherCapitalReserve 2022-12-31 05822581 core:RetainedEarningsAccumulatedLosses 2023-12-31 05822581 core:RetainedEarningsAccumulatedLosses 2022-12-31 05822581 core:LandBuildings 2022-12-31 05822581 core:PlantMachinery 2022-12-31 05822581 core:FurnitureFittings 2022-12-31 05822581 core:OtherPropertyPlantEquipment 2022-12-31 05822581 core:LandBuildings 2023-12-31 05822581 core:PlantMachinery 2023-12-31 05822581 core:FurnitureFittings 2023-12-31 05822581 core:OtherPropertyPlantEquipment 2023-12-31 05822581 core:CostValuation 2022-12-31 05822581 core:CostValuation 2023-12-31 05822581 core:MoreThanFiveYears 2023-12-31 05822581 core:MoreThanFiveYears 2022-12-31 05822581 2023-01-01 2023-12-31 05822581 bus:FilletedAccounts 2023-01-01 2023-12-31 05822581 bus:SmallEntities 2023-01-01 2023-12-31 05822581 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05822581 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 05822581 bus:Director1 2023-01-01 2023-12-31 05822581 bus:Director2 2023-01-01 2023-12-31 05822581 bus:Director3 2023-01-01 2023-12-31 05822581 bus:Director4 2023-01-01 2023-12-31 05822581 bus:Director5 2023-01-01 2023-12-31 05822581 bus:Director6 2023-01-01 2023-12-31 05822581 bus:Director7 2023-01-01 2023-12-31 05822581 bus:Director8 2023-01-01 2023-12-31 05822581 core:LandBuildings core:BottomRangeValue 2023-01-01 2023-12-31 05822581 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 05822581 core:PlantMachinery 2023-01-01 2023-12-31 05822581 core:FurnitureFittings 2023-01-01 2023-12-31 05822581 2022-01-01 2022-12-31 05822581 core:LandBuildings 2023-01-01 2023-12-31 05822581 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 05822581 core:Subsidiary1 2023-01-01 2023-12-31 05822581 core:Subsidiary1 1 2023-01-01 2023-12-31 05822581 core:Subsidiary1 1 2022-01-01 2022-12-31 05822581 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 05822581 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure decimalUnit

Company No: 05822581 (England and Wales)

CLACTON-ON-SEA GOLF CLUB LIMITED

(A company limited by guarantee)

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

CLACTON-ON-SEA GOLF CLUB LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

CLACTON-ON-SEA GOLF CLUB LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
CLACTON-ON-SEA GOLF CLUB LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,164,868 2,131,996
Investments 4 1 1
2,164,869 2,131,997
Current assets
Stocks 29,753 25,090
Debtors 5 10,644 10,764
Cash at bank and in hand 284,422 386,338
324,819 422,192
Creditors: amounts falling due within one year 6 ( 613,404) ( 600,990)
Net current liabilities (288,585) (178,798)
Total assets less current liabilities 1,876,284 1,953,199
Creditors: amounts falling due after more than one year 7 ( 632,401) ( 736,354)
Net assets 1,243,883 1,216,845
Reserves
Other reserves 272,076 272,076
Profit and loss account 971,807 944,769
Total reserves 1,243,883 1,216,845

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Clacton-on-Sea Golf Club Limited (registered number: 05822581) were approved and authorised for issue by the Director. They were signed on its behalf by:

P Allerton
Director
J M Richmond
Director

13 August 2024

CLACTON-ON-SEA GOLF CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
CLACTON-ON-SEA GOLF CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Clacton-on-Sea Golf Club Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is West Road, Clacton On Sea, Essex, CO15 1AJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 0 - 5 years straight line
Plant and machinery 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Other property, plant and equipment not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Income Statement over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 23 28

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 January 2023 1,897,333 494,608 170,801 18,500 2,581,242
Additions 18,272 38,361 31,131 0 87,764
At 31 December 2023 1,915,605 532,969 201,932 18,500 2,669,006
Accumulated depreciation
At 01 January 2023 850 323,592 124,804 0 449,246
Charge for the financial year 5,100 38,464 11,328 0 54,892
At 31 December 2023 5,950 362,056 136,132 0 504,138
Net book value
At 31 December 2023 1,909,655 170,913 65,800 18,500 2,164,868
At 31 December 2022 1,896,483 171,016 45,997 18,500 2,131,996
Leased assets included above:
Net book value
At 31 December 2023 49,503 80,450 0 0 129,952
At 31 December 2022 48,612 100,562 0 0 149,174

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 1
At 31 December 2023 1
Carrying value at 31 December 2023 1
Carrying value at 31 December 2022 1

Investments in shares

Name of entity Registered office Nature of business Class of
shares
Ownership
31.12.2023
Ownership
31.12.2022
Clacton Golf Club Trading Limited West Road, Clacton-on-Sea, Essex, CO15 1AJ Activities of sport clubs Ordinary 100.00% 100.00%

5. Debtors

2023 2022
£ £
Trade debtors 0 360
Amounts owed by Group undertakings 928 0
Prepayments 8,480 9,679
Other debtors 1,236 725
10,644 10,764

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 25,503 25,240
Trade creditors 13,648 35,124
Amounts owed to Group undertakings 0 1,646
Other loans 49,767 48,719
Accruals and deferred income 205,458 172,759
Other taxation and social security 12,559 6,842
Obligations under finance leases and hire purchase contracts 30,378 29,297
Other creditors 276,091 281,363
613,404 600,990

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 92,486 117,990
Other loans (secured) 481,226 529,777
Obligations under finance leases and hire purchase contracts (secured) 58,689 88,587
632,401 736,354

The mortgage loans are secured by way of a mortgage debenture dated 7 December 2006 over the Company's freehold premises.

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

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2023 2022
£ £
Bank loans 25,779 32,517
Other loans 254,918 309,823
Obligations under finance leases and hire purchase contracts 4,309 9,570
285,006 351,910

8. Liability of members

The members of the Clacton-on-Sea Golf Club Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.

9. Related party transactions

Directors have provided interest free loans to the club during the current and previous year as part of the amount shown in other creditors totalling £10,000 (2022 - £15,000).

During the year the Company received a donation of £228,541 (2022 - £149,413) from, and recharged expenses totalling £180,404 (2022 - £92,170) to, a subsidiary company. At 31 December 2023 the Company was owed £928 from the subsidiary company (2022 - £1,646 owed to the subsidiary).