17 false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 02840508 2023-07-01 2024-06-30 02840508 2024-06-30 02840508 2023-06-30 02840508 2022-07-01 2023-06-30 02840508 2023-06-30 02840508 2022-06-30 02840508 core:PlantMachinery 2023-07-01 2024-06-30 02840508 core:FurnitureFittings 2023-07-01 2024-06-30 02840508 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 02840508 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 02840508 bus:OrdinaryShareClass3 2023-07-01 2024-06-30 02840508 bus:OrdinaryShareClass5 2023-07-01 2024-06-30 02840508 bus:Director9 2023-07-01 2024-06-30 02840508 bus:Director3 2023-07-01 2024-06-30 02840508 bus:Director4 2023-07-01 2024-06-30 02840508 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 02840508 core:PlantMachinery 2023-06-30 02840508 core:FurnitureFittings 2023-06-30 02840508 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 02840508 core:PlantMachinery 2024-06-30 02840508 core:FurnitureFittings 2024-06-30 02840508 core:WithinOneYear 2024-06-30 02840508 core:WithinOneYear 2023-06-30 02840508 core:AfterOneYear 2024-06-30 02840508 core:AfterOneYear 2023-06-30 02840508 core:ShareCapital 2024-06-30 02840508 core:ShareCapital 2023-06-30 02840508 core:RetainedEarningsAccumulatedLosses 2024-06-30 02840508 core:RetainedEarningsAccumulatedLosses 2023-06-30 02840508 core:BetweenOneFiveYears 2024-06-30 02840508 core:BetweenOneFiveYears 2023-06-30 02840508 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02840508 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 02840508 core:PlantMachinery 2023-06-30 02840508 core:FurnitureFittings 2023-06-30 02840508 bus:Director3 2023-06-30 02840508 bus:Director3 2024-06-30 02840508 bus:Director4 2023-06-30 02840508 bus:Director3 2022-06-30 02840508 bus:Director3 2023-06-30 02840508 bus:Director4 2022-06-30 02840508 bus:Director4 2023-06-30 02840508 bus:SmallEntities 2023-07-01 2024-06-30 02840508 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 02840508 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 02840508 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02840508 bus:FullAccounts 2023-07-01 2024-06-30 02840508 bus:AllOrdinaryShares 2024-06-30 02840508 bus:AllOrdinaryShares 2023-06-30 02840508 bus:OrdinaryShareClass1 2024-06-30 02840508 bus:OrdinaryShareClass1 2023-06-30 02840508 bus:OrdinaryShareClass2 2024-06-30 02840508 bus:OrdinaryShareClass2 2023-06-30 02840508 bus:OrdinaryShareClass3 2024-06-30 02840508 bus:OrdinaryShareClass3 2023-06-30 02840508 bus:OrdinaryShareClass5 2024-06-30 02840508 bus:OrdinaryShareClass5 2023-06-30 02840508 core:OfficeEquipment 2023-07-01 2024-06-30 02840508 core:OfficeEquipment 2024-06-30 02840508 core:OfficeEquipment 2023-06-30
COMPANY REGISTRATION NUMBER: 02840508
Cherry Lodge Golf Club Limited
Filleted Unaudited Financial Statements
30 June 2024
Cherry Lodge Golf Club Limited
Balance Sheet
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
1,979,798
2,004,459
Current assets
Stocks
18,536
23,928
Debtors
6
65,199
21,262
Cash at bank and in hand
231,484
308,715
---------
---------
315,219
353,905
Creditors: amounts falling due within one year
7
501,845
536,043
---------
---------
Net current liabilities
186,626
182,138
------------
------------
Total assets less current liabilities
1,793,172
1,822,321
Creditors: amounts falling due after more than one year
8
552,672
567,736
------------
------------
Net assets
1,240,500
1,254,585
------------
------------
Capital and reserves
Called up share capital
10
1,236,700
1,240,800
Profit and loss account
3,800
13,785
------------
------------
Shareholders funds
1,240,500
1,254,585
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cherry Lodge Golf Club Limited
Balance Sheet (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 20 August 2024 , and are signed on behalf of the board by:
Mrs D Anderson
Director
Company registration number: 02840508
Cherry Lodge Golf Club Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cherry Lodge Golf Club, Jail Lane, Biggin Hill, Kent, TN16 3AX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for membership subscriptions to the club, goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
Not depreciated
Plant and machinery
-
15% straight line
Fixtures and fittings
-
10% straight line
Office equipment
-
33% straight line
Improvements to property
-
10 - 15% Straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2023: 17 ).
The position of director is voluntary and they are not employees of the company.
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Office equipment
Improvements to property
Total
£
£
£
£
£
£
Cost
At 1 Jul 2023 and 30 Jun 2024
1,881,189
37,029
423,563
22,142
150,136
2,514,059
------------
--------
---------
--------
---------
------------
Depreciation
At 1 Jul 2023
5,250
19,750
327,180
22,142
135,278
509,600
Charge for the year
5,555
16,630
2,476
24,661
------------
--------
---------
--------
---------
------------
At 30 Jun 2024
5,250
25,305
343,810
22,142
137,754
534,261
------------
--------
---------
--------
---------
------------
Carrying amount
At 30 Jun 2024
1,875,939
11,724
79,753
12,382
1,979,798
------------
--------
---------
--------
---------
------------
At 30 Jun 2023
1,875,939
17,279
96,383
14,858
2,004,459
------------
--------
---------
--------
---------
------------
6. Debtors
2024
2023
£
£
Other debtors
65,199
21,262
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
29,889
49,435
Trade creditors
31,713
19,033
Social security and other taxes
32,099
33,010
Other creditors
408,144
434,565
---------
---------
501,845
536,043
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
550,010
560,353
Other creditors
2,662
7,383
---------
---------
552,672
567,736
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £424,435 (2023: £351,038) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The company has a mortgage with Barclays Bank Plc. The loan is repayable in full in August 2036. The loan incurs interest at the banks borrowing rate.
9. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
261,279
329,661
---------
---------
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
2,259,118
2,311,489
------------
------------
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 100 each
821
82,100
824
82,400
Ordinary A shares of £ 100 each
7,361
736,100
7,399
739,900
Preference A shares of £ 100 each
1,925
192,500
1,925
192,500
Preference C shares of £ 1,000 each
226
226,000
226
226,000
--------
------------
--------
------------
10,333
1,236,700
10,374
1,240,800
--------
------------
--------
------------
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
83,152
27,405
Later than 1 year and not later than 5 years
135,718
53,283
---------
--------
218,870
80,688
---------
--------
12. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr A Gee
( 5,000)
( 5,000)
Mr M Kelly
( 5,000)
5,000
--------
-------
-------
( 10,000)
5,000
( 5,000)
--------
-------
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr A Gee
( 5,000)
( 5,000)
Mr M Kelly
( 5,000)
( 5,000)
--------
----
--------
( 10,000)
( 10,000)
--------
----
--------