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REGISTERED NUMBER: SC006728 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Kingsknowe Golf Club, Limited

Kingsknowe Golf Club, Limited (Registered number: SC006728)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kingsknowe Golf Club, Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs M M Boyle
Mr G A Dobie
Ms F M Jackson-Smith
Mr M Mccann Jnr
Mr M Forsyth
Mr B Gillespie
Mr P Larter





REGISTERED OFFICE: The Clubhouse
326 Lanark Rd
Edinburgh
EH14 2JD





REGISTERED NUMBER: SC006728 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

Kingsknowe Golf Club, Limited (Registered number: SC006728)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 829,029 658,410
Investments 5 389,323 365,283
1,218,352 1,023,693

CURRENT ASSETS
Stocks 10,875 5,245
Debtors 6 27,329 23,621
Cash at bank and in hand 360,165 486,604
398,369 515,470
CREDITORS
Amounts falling due within one year 7 218,265 166,693
NET CURRENT ASSETS 180,104 348,777
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,398,456

1,372,470

CREDITORS
Amounts falling due after more than one year 8 11,735 21,273
NET ASSETS 1,386,721 1,351,197

RESERVES
Retained earnings 1,386,721 1,351,197
1,386,721 1,351,197

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.

Kingsknowe Golf Club, Limited (Registered number: SC006728)

Balance Sheet - continued
31 December 2023


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 16 September 2024 and were signed on its behalf by:





Mr M Mccann Jnr - Director


Kingsknowe Golf Club, Limited (Registered number: SC006728)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Kingsknowe Golf Club, Limited is a private company, limited by guarantee , registered in Scotland. 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 (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

Freehold land and buildings 2% Straight Line
Plant and equipment15% Straight Line
Fixtures & Fittings15% Straight Line


Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks
Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.


Kingsknowe Golf Club, Limited (Registered number: SC006728)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
The company is exempt from tax to the extent that profits relate to its mutual trading activities. Where profits exceed this activity, tax is recognised as follows.

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 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.

The assets held by the company are such that a reliable estimate of their potential sales value cannot be obtained. For this reason, no deferred tax is provided for.

Pension costs and other post-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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 707,009 741,353 1,448,362
Additions 168,458 62,620 231,078
Disposals - (3,000 ) (3,000 )
At 31 December 2023 875,467 800,973 1,676,440
DEPRECIATION
At 1 January 2023 244,669 545,283 789,952
Charge for year 16,483 42,776 59,259
Eliminated on disposal - (1,800 ) (1,800 )
At 31 December 2023 261,152 586,259 847,411
NET BOOK VALUE
At 31 December 2023 614,315 214,714 829,029
At 31 December 2022 462,340 196,070 658,410

No indicators of impairment were noted in the year.

Kingsknowe Golf Club, Limited (Registered number: SC006728)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2023 365,283
Additions 48,219
Disposals (35,598 )
Revaluations 18,404
Dividends received (6,985 )
At 31 December 2023 389,323
NET BOOK VALUE
At 31 December 2023 389,323
At 31 December 2022 365,283

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2023 (19,433 )
Cost 408,756
389,323

Due to the current economic climate, the original amount invested of £400,000 has decreased in value as at 31 December 2023. As this is seen as a longer term investment, the directors are confident that this is not a permanent impairment to value and will recover over time.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 3,650 1,274
Other debtors 23,679 22,347
27,329 23,621

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 8,460 8,460
Trade creditors 24,137 28,131
Taxation and social security 4,464 9,233
Other creditors 181,204 120,869
218,265 166,693

Kingsknowe Golf Club, Limited (Registered number: SC006728)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included in Other Creditors is £6,270 for Junior Development and £3,775 for Schools Coaching. These amounts are restricted for these purposes.

Other creditors also includes £98,839 relating to subscriptions paid in advance.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 2,820 11,985
Other creditors 8,915 9,288
11,735 21,273

9. MEMBERS' LIABILITY

The company is limited by guarantee, not having a share capital, and consequently the liability of members is limited. This is subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required, not exceeding £1.