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REGISTERED NUMBER: 00071601 (England and Wales)












WOKING GOLF CLUB ESTATES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






WOKING GOLF CLUB ESTATES LIMITED (REGISTERED NUMBER: 00071601)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WOKING GOLF CLUB ESTATES LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: E Salmon
D C Hill
A Oldham
G Swindells
J Milward
A Valsamakis





REGISTERED OFFICE: Pond Road
Hook Heath
WOKING
Surrey
GU22 0JZ





REGISTERED NUMBER: 00071601 (England and Wales)





AUDITOR: Shaw Gibbs Audit Ltd
264 Banbury Road
Oxford
Oxfordshire
OX2 7DY

WOKING GOLF CLUB ESTATES LIMITED (REGISTERED NUMBER: 00071601)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 296,331 299,000

CURRENT ASSETS
Debtors 5 212,972 288,384
Cash at bank 1 23
212,973 288,407
CREDITORS
Amounts falling due within one year 6 (15,497 ) (15,495 )
NET CURRENT ASSETS 197,476 272,912
TOTAL ASSETS LESS CURRENT
LIABILITIES

493,807

571,912

CREDITORS
Amounts falling due after more than one
year

7

(358,249

)

(440,808

)

PROVISIONS FOR LIABILITIES 8 - (215 )
NET ASSETS 135,558 130,889

RESERVES
Capital redemption reserve 9 4,000 4,000
Income and expenditure account 9 131,558 126,889
135,558 130,889

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 Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 May 2024 and were signed on its behalf by:





E Salmon - Director


WOKING GOLF CLUB ESTATES LIMITED (REGISTERED NUMBER: 00071601)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Woking Golf Club Estates Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sales of services, excluding value added tax. Where the service is provided gradually over time, income is recognised as the right to consideration as it falls due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - Straight line over 20 years

Financial instruments
Interest free loans received from members of Woking Golf Club, which have been passed on in full and loaned to Woking Golf Club, and are effectively linked transactions - with all repayments from Woking Golf Club mirrored by repayments to the individual loan note holders - are initially accounted for at transaction value. This, being the sum advanced with no fair value adjustment made for the time value of money.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

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

WOKING GOLF CLUB ESTATES LIMITED (REGISTERED NUMBER: 00071601)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 296,331 73,229 122,678 492,238
DEPRECIATION
At 1 January 2023 - 73,229 120,009 193,238
Charge for year - - 2,669 2,669
At 31 December 2023 - 73,229 122,678 195,907
NET BOOK VALUE
At 31 December 2023 296,331 - - 296,331
At 31 December 2022 296,331 - 2,669 299,000

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other debtors 28,793 21,646
Woking Golf Club Loan 184,179 266,738
212,972 288,384

The loan to Woking Golf Club has a repayment date of not later than 31 December 2027 but is repayable on demand. For this reason the loan is shown as due after more than one year.
This loan balance is made up of the total of the balances due to the the individual loan note holders as referred to it in note 9, which have been passed on in full to Woking Golf Club in the form of a loan. The two balances will always be equal and therefore both the debtor and creditor balances are shown at the amount of the original advance less all subsequent repayments, and not at fair value because each year fair value adjustments will cancel out.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 1,639 1,638
Accrued expenses 13,858 13,857
15,497 15,495

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Members Loans 184,179 266,738
Loan Stock 174,070 174,070
358,249 440,808

WOKING GOLF CLUB ESTATES LIMITED (REGISTERED NUMBER: 00071601)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

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

Members Loans are held interest free and are unsecured and are repayable by 2027 unless an individual creditor dies before that date when the amount will be repaid in full, if sufficient funds are available. These loans have been lent to Woking Golf Club for improvements to the golf course. In the event of any of these loans requiring to be repaid funds will be made available from Woking Golf Club to enable repayment.

The loan stock is owned by Woking golf Club. No interest is paid (2022: £Nil).

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax - 215

Deferred
tax
£   
Balance at 1 January 2023 215
Utilised during year (215 )
Balance at 31 December 2023 -

9. RESERVES
Income
and Capital
expenditure redemption
account reserve Totals
£    £    £   

At 1 January 2023 126,889 4,000 130,889
Surplus for the year 4,669 4,669
At 31 December 2023 131,558 4,000 135,558

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

The Report of the Auditor was unqualified.

Lance Redman (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs Audit Ltd

11. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £5.