Company registration number SC029688 (Scotland)
THE BROOMIEKNOWE GOLF CLUB LTD.
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
THE BROOMIEKNOWE GOLF CLUB LTD.
CONTENTS
Page
Directors' report
Green director's report
4
Balance sheet
4
Notes to the financial statements
5 - 9
THE BROOMIEKNOWE GOLF CLUB LTD.
CAPTAIN'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

My first year as Captain has been a challenging experience and, in the main, an enjoyable one with my previous experience as Ladies Captain and as a Director preparing me for the role. The support of the Vice Captain, Directors and Club Manager has ensured a cohesive management team that has achieved much in 2024. Every member of staff at Broomieknowe is a valued member of the team and all work in partnership to ensure excellent service and experiences for our Members, their Guests and Visitors.

My personal thanks must go to Kevin Armitage for his hard work, expertise and support for me during a challenging period.

Regarding finance, our position is robust with costs being managed well and income generation evident in all areas. Although the in-house provision of catering services continues to be a significant cost to the club, we have experienced a period of stability and development this year. Improvements to our menus and provision of weekly ‘specials’ has resulted in increasing numbers of members and visitors using the dining services. The Clubhouse team continues to provide professional bar and front of house services that are appreciated by members and visitors alike on a daily basis in addition to catering for private functions.

A new Head Greenkeeper, Billy Hudson, joined us this year from Kingsknowe Golf Club and has proven to be a fantastic addition to our staff. He has already demonstrated excellent leadership skills, gained the respect of his team and is regarded highly by all associated with the Club. The winter of 2024 has thrown up many challenges due to storms resulting in severe tree damage and continuous wet weather. Great credit must go to the greens staff who ensured minimal course closure and maintenance of ‘proper’ greens throughout.

The first phase of the course development work, focusing on the bunkers on holes 1-3 and 16-18 was completed in time for the beginning of the competition season. Praise for the changes has been universal and the huge improvements to the ‘top field’ acknowledged by all. Again, huge credit must go to the greens staff who, ably assisted by our volunteers, completed this part of the course improvement project in what were often awful weather conditions. Phase two of the project begins in autumn 2024 with the bunkers on holes 10-15 being removed, renovated and created.

The contributions of our PGA Professional, Mark Patchett, our ‘Handyman’, Jimmy Wilson and Course Ranger, John White must be also be acknowledged.

The services of a Health and Safety Consultant have been engaged and much work is being done to ensure all statutory requirements are being met.

We are fortunate to have a team that will continue to work together in the best interests of the Club and who will continue to embrace change and meet the inevitable challenges head on.

Alison Scott
Captain, Broomieknowe Golf Club
THE BROOMIEKNOWE GOLF CLUB LTD.
GREEN DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

I would like to open this summary with a thank you to the hard-working greens team, headed up by Allan Duncan who was Head Greenkeeper for most of this financial year. The Greens team start around 5am every day and work one weekend in every four, in all weather conditions, to prepare the course for members, guests and visitors.

Allan decided to take up a new role in Saudi Arabia in Spring 2024 and the Club appointed the highly experienced Billy Hudson as our new Head Greenkeeper. Billy joined the club in April 2024, and I am confident he will lead the team well and drive forward the Course Strategy Group improvement program, whilst presenting a quality golf course for members and guests to enjoy.

Looking back on this financial year, there are a few highlights and challenges that arose:

Greens and Aprons - the greens and aprons were generally very good this year and the investment made in recent years has largely paid off.

Fairways - the overseeding project has also been successful, with considerable improvement in the grass coverage, again reflecting the investment the club made in this financial year.

Weather - the winter of 2023/24 was the wettest on record for Midlothian. This led to the course being completely closed only handful of times, with the course being reduced frequently to 13 holes due to flooding/wet areas. This may be a sign of things to come, and the Greens Team will be seeking solutions so that the course can cope with heavier and more frequent wet (& dry!) spells of weather.

Storms/Trees - the winter also brought two major storms and approximately one hundred trees/limbs were brought down. This extra unplanned work took up many of the team resources and a new chainsaw was purchased to help tackle this increasingly common problem.

Bunkers - Course Strategy Group - 11th Tee - the club made a significant investment in the bunkers on holes 1 to 3 and 16 to 18. A total of 18 bunkers were built, re-shaped and 4 run-off areas created. This project was incredibly challenging for the Greens team, the external Contractors and the Volunteers. A large new tee was constructed at the 11th hole.

The new bunkers have now settled in well and the layout, their quality, their drainage and the look and feel of these bunkers have been welcomed by members. This is a significant investment in the facility at this section of the course.

Looking Ahead - The plans to improve the 10th to 15th holes are being finalised for winter 2024/25. There are other plans to improve the drainage on holes 6 to 9 as well as the area of the ditch at the 4th/14th/10th. The 11th and 13th Greens are also likely to require the installation of drainage.

There is plenty to be optimistic about for the years ahead at Broomieknowe and I hope members stay safe and healthy and that you all enjoy the course, and you get those handicaps down.

 

Best wishes
Jeff Steedman
Greens Director
July 2024
THE BROOMIEKNOWE GOLF CLUB LTD.
COUNCIL ATTENDANCE REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Name
Possible attendance
Actual attendace
Mrs K A Scott
11
11
Mr N Reid
11
10
Mr J Steedman
11
10
Ms S Hennessy
11
9
Mr C Renton
11
7
Miss H Scott
11
2
Mr R Fisher
10
10
Mr N Rapson
4
4
Mr J C McMillan
2
2
Bereavements
It is with great sadness we report the following deaths:
Mr Davis Bews, Mr Eric King, Mr George Clark, Mr John Menzies, Mr William Faughnan.
Membership roll comparison
Category
August 2020
August 2021
May 2022
August 2023
June 2024
Gent Full
292
361
355
345
345
Lady Full
36
39
39
36
33
Gent/Lady 5 Day
41
50
43
44
50
Gent-Senior
70
74
78
83
86
Lady-Senior
12
12
13
11
13
Young Adult
36
62
51
42
63
Gent- Junior
95
127
69
83
73
Lady- Junior
17
23
10
7
5
Golden
27
30
30
29
25
Honorary
7
6
5
5
5
Country
22
18
18
12
11
Deferred
6
3
0
0
0
Social
243
319
307
297
297
Total
904
1124
1018
994
1006
THE BROOMIEKNOWE GOLF CLUB LTD.
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 4 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,019,384
2,930,584
Current assets
Stocks
6,451
6,451
Debtors
4
9,188
20,763
Cash at bank and in hand
533,976
873,033
549,615
900,247
Creditors: amounts falling due within one year
5
(245,064)
(306,694)
Net current assets
304,551
593,553
Total assets less current liabilities
3,323,935
3,524,137
Creditors: amounts falling due after more than one year
6
(106,699)
(148,273)
Provisions for liabilities
(702,964)
(702,964)
Net assets
2,514,272
2,672,900
Reserves
Income and expenditure account
2,514,272
2,672,900
Members' funds
2,514,272
2,672,900

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

These financial statements have been prepared and delivered 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 16 September 2024 and are signed on its behalf by:
R G Fisher
Director
Company Registration No. SC029688
THE BROOMIEKNOWE GOLF CLUB LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
1
Accounting policies
Company information

The Broomieknowe Golf Club Ltd. is a private company limited by guarantee incorporated in Scotland. The registered office is 36 Golf Course Road, Bonnyrigg, Midlothian, EH19 2HZ.

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
Going concern

At the time of approving the financial statements the Council consider that the club has adequate resources to continue in operational existence for a period not less than twelve months from the date of approval of the financial statements. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Expenses include the irrecoverable element of VAT which is unavailable to be reclaimed.

1.4
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:

Freehold land and buildings
50 years straight line
Plant and equipment
7 years straight line
Fixtures and fittings
3-10 years straight line

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 surplus or deficit.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

THE BROOMIEKNOWE GOLF CLUB LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

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.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE BROOMIEKNOWE GOLF CLUB LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 7 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

THE BROOMIEKNOWE GOLF CLUB LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
2
Employees

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

2024
2023
Number
Number
Total
19
18
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
2,785,530
564,060
3,349,590
Additions
201,676
-
0
201,676
At 31 March 2024
2,987,206
564,060
3,551,266
Depreciation and impairment
At 1 April 2023
127,229
291,777
419,006
Depreciation charged in the year
56,598
56,278
112,876
At 31 March 2024
183,827
348,055
531,882
Carrying amount
At 31 March 2024
2,803,379
216,005
3,019,384
At 31 March 2023
2,658,301
272,283
2,930,584
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
607
11,547
Other debtors
8,581
9,216
9,188
20,763
THE BROOMIEKNOWE GOLF CLUB LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
19,844
42,268
Taxation and social security
31,214
9,689
Other creditors
194,006
254,737
245,064
306,694
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
106,699
148,273
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, 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.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Sharon Collins
Statutory Auditor:
Thomson Cooper
Date of audit report:
23 September 2024
2024-03-312023-04-01false23 September 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedR G FisherS M HennessyC OrmistonN T ReidC A RentonH C ScottK A ScottJ P SteedmanJ C McMillanfalsefalseSC0296882023-04-012024-03-31SC0296882024-03-31SC0296882023-03-31SC029688core:LandBuildings2024-03-31SC029688core:OtherPropertyPlantEquipment2024-03-31SC029688core:LandBuildings2023-03-31SC029688core:OtherPropertyPlantEquipment2023-03-31SC029688core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-31SC029688core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-31SC029688core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-31SC029688core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-31SC029688core:CurrentFinancialInstruments2024-03-31SC029688core:CurrentFinancialInstruments2023-03-31SC029688core:RetainedEarningsAccumulatedLosses2024-03-31SC029688core:RetainedEarningsAccumulatedLosses2023-03-31SC029688bus:Director12023-04-012024-03-31SC029688core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-012024-03-31SC029688core:PlantMachinery2023-04-012024-03-31SC029688core:FurnitureFittings2023-04-012024-03-31SC0296882022-04-012023-03-31SC029688core:LandBuildings2023-03-31SC029688core:OtherPropertyPlantEquipment2023-03-31SC0296882023-03-31SC029688core:LandBuildings2023-04-012024-03-31SC029688core:OtherPropertyPlantEquipment2023-04-012024-03-31SC029688core:WithinOneYear2024-03-31SC029688core:WithinOneYear2023-03-31SC029688core:Non-currentFinancialInstruments2024-03-31SC029688core:Non-currentFinancialInstruments2023-03-31SC029688bus:CompanyLimitedByGuarantee2023-04-012024-03-31SC029688bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC029688bus:FRS1022023-04-012024-03-31SC029688bus:Audited2023-04-012024-03-31SC029688bus:Director22023-04-012024-03-31SC029688bus:Director32023-04-012024-03-31SC029688bus:Director42023-04-012024-03-31SC029688bus:Director52023-04-012024-03-31SC029688bus:Director62023-04-012024-03-31SC029688bus:Director72023-04-012024-03-31SC029688bus:Director82023-04-012024-03-31SC029688bus:Director92023-04-012024-03-31SC029688bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP