Company registration number 05246004 (England and Wales)
THE PYTCHLEY GOLF LODGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
THE PYTCHLEY GOLF LODGE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
THE PYTCHLEY GOLF LODGE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
973,910
938,819
Current assets
Stocks
3,291
9,215
Debtors
4
68,451
64,195
Cash at bank and in hand
226,807
276,242
298,549
349,652
Creditors: amounts falling due within one year
5
(111,331)
(175,203)
Net current assets
187,218
174,449
Total assets less current liabilities
1,161,128
1,113,268
Creditors: amounts falling due after more than one year
6
(27,317)
-
0
Provisions for liabilities
(133,449)
(124,334)
Net assets
1,000,362
988,934
Capital and reserves
Called up share capital
7
100
100
Share premium account
722,375
722,375
Profit and loss reserves
277,887
266,459
Total equity
1,000,362
988,934

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

THE PYTCHLEY GOLF LODGE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
Mr R D I Tarry
Mrs J E Shemilt
Director
Director
Company Registration No. 05246004
THE PYTCHLEY GOLF LODGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

The Pytchley Golf Lodge Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pytchley Grange, Pytchley, Kettering, Northamptonshire, United Kingdom, NN14 1EF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of consideration received or receivable net of VAT and trade discounts.

Turnover represents bar, driving range and golf course takings, golf shop rent, membership and competition fees and miscellaneous income including money generated from the sale of electricity.

Turnover from the sales of goods is recognised at the point of sale of those goods. Turnover from the provision of services is recognised on the delivery of those services by reference to the stage of completion at the balance sheet date.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Golf course land
No depreciation
Driving range, clubhouse and shop
20% on reducing baand 4% on cost
Equipment
20% on reducing balance
Office and computer equipment
20% on reducing balance
Motor vehicles
25% on reducing balance
Bar Equipment
15% on reducing balance

Freehold land is not depreciated.

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.

1.4
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

THE PYTCHLEY GOLF LODGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Cash at bank and in hand

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 current liabilities.

1.6
Financial instruments

Loans from directors are measured at transaction price.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

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 for 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.

1.8
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
1.9

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price less any impairment.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
20
16
THE PYTCHLEY GOLF LODGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Bar Equipment
Total
£
£
£
£
Cost
At 1 April 2023
563,801
1,258,924
99,883
1,922,608
Additions
-
0
94,098
5,930
100,028
At 31 March 2024
563,801
1,353,022
105,813
2,022,636
Depreciation and impairment
At 1 April 2023
-
0
909,224
74,565
983,789
Depreciation charged in the year
-
0
60,936
4,001
64,937
At 31 March 2024
-
0
970,160
78,566
1,048,726
Carrying amount
At 31 March 2024
563,801
382,862
27,247
973,910
At 31 March 2023
563,801
349,700
25,318
938,819
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
510
35,196
Other debtors
67,941
28,999
68,451
64,195
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
81,611
99,683
Amounts owed to group undertakings
900
900
Corporation tax
-
0
12,858
Other taxation and social security
16,629
53,854
Other creditors
12,191
7,908
111,331
175,203
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Trade creditors
27,317
-
0
THE PYTCHLEY GOLF LODGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts written off
Closing balance
£
£
£
£
Advances
-
-
570
(570)
-
-
570
(570)
-

Amounts advanced to the directors are interest-free and repayable on demand.

9
Parent company

The company's parent company is Ironside Holdings Limited. The registered office of Ironside Holdings Limited is Pytchley Grange, Pytchley, Kettering, Northants, NN14 1EF.

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