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Registration number: 00462157

Walmer And Kingsdown Golf Club (1948) Limited

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 30 June 2024

(filleted for filing purposes)

 

Walmer And Kingsdown Golf Club (1948) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Walmer And Kingsdown Golf Club (1948) Limited

Company Information

Chairman

Mr Ian Dunkerley

Directors

Mrs Pamela Mabbs

Miss Jane S Willis

Mr Paul Woolhouse

Mr Christopher Coleman

Mr Kevin Patrick Hall

Mr John Peter Boyd

Mr Mark Taylor

Mr Jeffrey Mark Knight

Registered office

The Club House
The Leas
Kingsdown
Nr. Deal
Kent
CT14 8EP

Auditors

Batchelor Coop Ltd
Registered Auditors
The New Barn
Mill Lane
Eastry
Sandwich
Kent
CT13 0JW

 

Walmer And Kingsdown Golf Club (1948) Limited

(Registration number: 00462157)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

868,206

633,484

Current assets

 

Stocks

5

71,646

63,349

Debtors

6

94,886

58,254

Cash at bank and in hand

 

655,960

729,925

 

822,492

851,528

Creditors: Amounts falling due within one year

7

(718,113)

(644,642)

Net current assets

 

104,379

206,886

Total assets less current liabilities

 

972,585

840,370

Creditors: Amounts falling due after more than one year

7

-

(4,542)

Net assets

 

972,585

835,828

Reserves

 

Future capital projects reserve

72,134

25,634

Retained earnings

900,451

810,194

Surplus

 

972,585

835,828

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 September 2024 and signed on its behalf by:
 

.........................................
Mr Ian Dunkerley
Chairman

.........................................
Mrs Pamela Mabbs
Director

 

Walmer And Kingsdown Golf Club (1948) Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
The Club House
The Leas
Kingsdown
Nr. Deal
Kent
CT14 8EP
England

The principal place of business is:
The Leas
Kingsdown
Deal
Kent
CT14 8EP

These financial statements were authorised for issue by the Board on 23 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 25 September 2024 was Mark Batchelor BSc FCA, who signed for and on behalf of Batchelor Coop Ltd.

Revenue recognition

Turnover and investment income comprises the fair value of amounts receivable (net of Value Added Tax)) in respect of income from subscriptions, green fees and other income streams from members and visitors.

Membership subscriptions are allocated to the year that the period of membership relates to. Green fees are allocated to the period in which the rounds were played. Bar and catering income is allocated to the period in which the sales were made. Rental income is allocated to the year that the rent relates to.

 

Walmer And Kingsdown Golf Club (1948) Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense for the period comprises current tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property (excluding land)

2% straight line basis

Plant and machinery

10% straight line basis

Fixtures and fittings

10% straight line basis

Computer equipment

20% straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

The company operates a defined contribution pension scheme, and the pension charge represents the amount payable by the company to the fund in respect of the year.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 10).

 

Walmer And Kingsdown Golf Club (1948) Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 July 2023

557,273

336,556

549,079

1,074

1,443,982

Additions

210,582

28,381

49,439

-

288,402

At 30 June 2024

767,855

364,937

598,518

1,074

1,732,384

Depreciation

At 1 July 2023

52,538

289,712

467,174

1,074

810,498

Charge for the year

13,321

20,064

20,295

-

53,680

At 30 June 2024

65,859

309,776

487,469

1,074

864,178

Carrying amount

At 30 June 2024

701,996

55,161

111,049

-

868,206

At 30 June 2023

504,735

46,844

81,905

-

633,484

 

Walmer And Kingsdown Golf Club (1948) Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Included within the net book value of land and buildings above is £701,996 (2023 - £504,736) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

71,646

63,349

6

Debtors

Current

2024
£

2023
£

Trade debtors

3,413

2,530

Prepayments

2,824

1,811

Other debtors

88,649

53,913

 

94,886

58,254

7

Creditors

Note

2024
£

2023
£

Due within one year

 

HP and finance lease liabilities

8

4,542

10,902

Trade creditors

 

38,006

43,657

Taxation and social security

 

16,142

12,550

Other creditors

 

659,423

577,533

 

718,113

644,642

Due after one year

 

Loans and borrowings

8

-

4,542

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

-

4,542

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £32,338 (2023 - £11,246).