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REGISTERED NUMBER: 00178026 (England and Wales)











Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 December 2023


for



Bexley Heath Golf Club, Limited


Bexley Heath Golf Club, Limited (Registered number: 00178026)







Contents of the Financial Statements

for the Year Ended 31 December 2023





Page




Company Information  

1




Report of the Directors  

2




Statement of Income and Retained Earnings  

3




Balance Sheet  

4




Notes to the Financial Statements

6




Bexley Heath Golf Club, Limited


Company Information

for the Year Ended 31 December 2023









DIRECTORS:

A Cooper


M Prockter


J Hubbard


E Bilsborough


R W Bishop







REGISTERED OFFICE:

The Club House


Mount Drive


Bexleyheath


Kent


DA6 8JS







REGISTERED NUMBER:

00178026 (England and Wales)







ACCOUNTANTS:

SADLER FOGARTY SERVICES LTD


T/AS Sadler Davies & Co


Chartered Accountants


3 Enterprise House


8 Essex Road


Dartford


Kent


DA1 2AU


Bexley Heath Golf Club, Limited (Registered number: 00178026)


Report of the Directors

for the Year Ended 31 December 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.  


PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of being the owner and lessor of the Golf Course and of the adjacent properties.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2023.


DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.


A Cooper

M Prockter

J Hubbard

E Bilsborough

R W Bishop


ON BEHALF OF THE BOARD:






J Hubbard - Director



22 September 2024


Bexley Heath Golf Club, Limited (Registered number: 00178026)


Statement of Income and

Retained Earnings

for the Year Ended 31 December 2023



31.12.23


31.12.22


Notes

£   

£   



TURNOVER

46,046


44,018




Administrative expenses

42,792


28,934



3,254


15,084




Other operating income

2,733


4,309



OPERATING PROFIT

5,987


19,393




Interest receivable and similar income

259


7



PROFIT BEFORE TAXATION

4

6,246


19,400




Tax on profit

5

2,136


3,686



PROFIT FOR THE FINANCIAL

YEAR

4,110


15,714




Retained earnings at beginning of year

31,543


15,829




RETAINED EARNINGS AT END

OF YEAR

35,653


31,543




Bexley Heath Golf Club, Limited (Registered number: 00178026)


Balance Sheet

31 December 2023



31.12.23

31.12.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

6

5,881


7,350



Investment property

7

940,000


940,000



945,881


947,350




CURRENT ASSETS

Debtors

8

2,329


2,308



Investments

9

1,640


1,650



Cash at bank

50,712


39,032



54,681


42,990



CREDITORS

Amounts falling due within one year

10

39,906


33,524



NET CURRENT ASSETS

14,775


9,466



TOTAL ASSETS LESS CURRENT

LIABILITIES

960,656


956,816




PROVISIONS FOR LIABILITIES

11

175,941


176,221



NET ASSETS

784,715


780,595




CAPITAL AND RESERVES

Called up share capital

3,760


3,750



Revaluation reserve

12

745,302


745,302



Retained earnings

12

35,653


31,543



SHAREHOLDERS' FUNDS

784,715


780,595




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.  


The directors acknowledge their 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.


Bexley Heath Golf Club, Limited (Registered number: 00178026)


Balance Sheet - continued

31 December 2023



The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.  


The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2024 and were signed on its behalf by:






J Hubbard - Director



Bexley Heath Golf Club, Limited (Registered number: 00178026)


Notes to the Financial Statements

for the Year Ended 31 December 2023


1.

STATUTORY INFORMATION



Bexley Heath 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.


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 as modified by the revaluation of certain assets.    



Turnover

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


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 etc

-

20% on reducing balance



Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.


Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Bexley Heath Golf Club, Limited (Registered number: 00178026)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


2.

ACCOUNTING POLICIES - continued


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).


4.

PROFIT BEFORE TAXATION



The profit is stated after charging:



31.12.23


31.12.22

£   

£   



Depreciation - owned assets

1,469


1,838




5.

TAXATION



Analysis of the tax charge


The tax charge on the profit for the year was as follows:


31.12.23


31.12.22

£   

£   



Current tax:


UK corporation tax

2,416


4,035





Deferred tax

(280

)

(349

)



Tax on profit

2,136


3,686





UK corporation tax has been charged at 19% (2022 - 19%).


Bexley Heath Golf Club, Limited (Registered number: 00178026)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


6.

TANGIBLE FIXED ASSETS


Plant and


machinery


etc

£   



COST


At 1 January 2023


and 31 December 2023

25,799




DEPRECIATION


At 1 January 2023

18,449




Charge for year

1,469




At 31 December 2023

19,918




NET BOOK VALUE


At 31 December 2023

5,881




At 31 December 2022

7,350




7.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1 January 2023


and 31 December 2023

940,000




NET BOOK VALUE


At 31 December 2023

940,000




At 31 December 2022

940,000





Fair value at 31 December 2023 is represented by:

£   



Valuation in 2000

230,126




Valuation in 2016

590,000




Valuation in 2021

100,000




Cost

19,874



940,000




Bexley Heath Golf Club, Limited (Registered number: 00178026)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


7.

INVESTMENT PROPERTY - continued



If the Freehold Properties had not been revalued it would have been included at the following historical cost:



31.12.23


31.12.22

£   

£   



Cost

19,874


19,874





The Freehold Properties were valued on a market value basis on 31 December 2021 by The Directors  .


8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.23


31.12.22

£   

£   



Trade debtors

11


-




Other debtors

2,318


2,308



2,329


2,308




9.

CURRENT ASSET INVESTMENTS



All adult playing members of Bexleyheath Golf Club are expected to acquire a share in the company at par. On cessation of membership such shareholding(s) will usually become null and void, cancelled by the Company Secretary and reimbursed at par. At the year end 328 shares were unallocated with a nominal value of £1640.00 representing 54.6% of the Ordinary share capital of the company. [Please note that a Creditor item has been recorded representing 162 shares (£810.00) to meet any claims for forfeited shares.]


10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.23


31.12.22

£   

£   



Taxation and social security

2,416


4,035




Other creditors

37,490


29,489



39,906


33,524




11.

PROVISIONS FOR LIABILITIES


31.12.23


31.12.22

£   

£   



Deferred tax


Accelerated capital allowances

1,117


1,397




Deferred tax on revaluation

174,824


174,824



175,941


176,221




Bexley Heath Golf Club, Limited (Registered number: 00178026)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


11.

PROVISIONS FOR LIABILITIES - continued



Deferred



tax


£   



Balance at 1 January 2023

176,221




Credit to Statement of Income and Retained Earnings during year

(280

)



Balance at 31 December 2023

175,941




12.

RESERVES


Retained


Revaluation



earnings


reserve


Totals

£   

£   

£   




At 1 January 2023

31,543


745,302


776,845




Profit for the year

4,110


4,110




At 31 December 2023

35,653


745,302


780,955




Please note the reserves shown as Revaluation Reserves on the Investment Properties are non-distributable reserves.