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Registration number: 00687594

Croham Hurst Golf Club Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Croham Hurst Golf Club Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

Croham Hurst Golf Club Limited

Company Information

Directors

K Hewitt

A Reeves

M Stone

D Flowers

Miss S Hubbard

Company secretary

S Stiller

Registered office

Croham Hurst Golf Club
Croham Road
South Croydon
Surrey
CR2 7HJ

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Croham Hurst Golf Club Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Croham Hurst Golf Club Limited for the year ended 30 April 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Croham Hurst Golf Club Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Croham Hurst Golf Club Limited and state those matters that we have agreed to state to the Board of Directors of Croham Hurst Golf Club Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Croham Hurst Golf Club Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Croham Hurst Golf Club Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Croham Hurst Golf Club Limited. You consider that Croham Hurst Golf Club Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Croham Hurst Golf Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

11 September 2024

 

Croham Hurst Golf Club Limited

(Registration number: 00687594)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

873,621

894,863

Investment property

6

465,845

465,845

Investments

7

100

100

 

1,339,566

1,360,808

Current assets

 

Stocks

8

14,702

13,752

Debtors

9

182,578

152,264

Cash at bank and in hand

 

436,384

373,422

 

633,664

539,438

Creditors: Amounts falling due within one year

10

(718,756)

(616,519)

Net current liabilities

 

(85,092)

(77,081)

Total assets less current liabilities

 

1,254,474

1,283,727

Creditors: Amounts falling due after more than one year

10

(163,165)

(192,858)

Net assets

 

1,091,309

1,090,869

Reserves

 

Retained earnings

1,091,309

1,090,869

Surplus

 

1,091,309

1,090,869

 

Croham Hurst Golf Club Limited

(Registration number: 00687594)
Statement of Financial Position as at 30 April 2024 (continued)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Income Statement.

Approved and authorised by the Board on 11 September 2024 and signed on its behalf by:
 

K Hewitt
Director

   
     
 

Croham Hurst Golf Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

Croham Hurst Golf Club Limited is a private company, limited by guarantee, registered in England and Wales.

The address of its registered office is:
Croham Hurst Golf Club
Croham Road
South Croydon
Surrey
CR2 7HJ

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.

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

Preparation of consolidated financial statements
The financial statements contain information about Croham Hurst Golf Club Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
 

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

 

Croham Hurst Golf Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Taxation

Taxation for the year comprises current and deferred tax. 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 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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

2.5% Straight Line Method

Plant & Machinery

20-33 % Straight Line Method

Fixtures and Fittings

20% Straight Line Method

Assets held under finance leases are depreciated in the same way as owned assets.

At each statement of financial position date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an 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 the asset, the company estimates the recoverable amount of the cash- generating unit to which the asset belongs.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

 

Croham Hurst Golf Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

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. A valuation is performed annually by the Directors.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 (FIFO) 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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Croham Hurst Golf Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 24).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

47,385

50,004

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

800,000

174,510

330,194

1,304,704

Additions

-

6,000

20,143

26,143

At 30 April 2024

800,000

180,510

350,337

1,330,847

Depreciation

At 1 May 2023

20,000

124,880

264,961

409,841

Charge for the year

20,000

6,050

21,335

47,385

At 30 April 2024

40,000

130,930

286,296

457,226

Carrying amount

At 30 April 2024

760,000

49,580

64,041

873,621

At 30 April 2023

780,000

49,630

65,233

894,863


 

Land and Building has been revalued at £800,000 by external valuer Lambert Smith Hampton on 7th April 2022.

 

Croham Hurst Golf Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Investment properties

2024
£

At 1 May 2023

465,845

At 30 April 2024

465,845

Fair value at 30 April 2024 is represented by:

£

Valuation in 2013

65,290

Valuation in 2017

120,625

Valuation in 2018

57,000

Cost

222,930

465,845


 

Investment properties are valued annually by the Directors. They consider the valuation to be the fair value as at 30th April 2024.

7

Fixed assets investments

Subsidiaries

£

Cost or valuation

At 1 May 2023

100

Provision

Carrying amount

At 30 April 2024

100

At 30 April 2023

100

 

Croham Hurst Golf Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

7

Fixed assets investments (continued)

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Croham Hurst Golf Trading Company Limited
Registered office: Croham Hurst Golf Club, Croham Road, South Croydon, Surrey, CR2 7HJ
Nature of business: Golf Club

%

Class of shares:

holding

Ordinary

100

2024

2023

£

£

Aggregate capital and reserves

66

66

Profit/(loss) for the year

-

5

8

Stocks

2024
£

2023
£

Other inventories

14,702

13,752

9

Debtors

Note

2024
£

2023
£

Trade debtors

 

92,223

6,258

Amounts owed by group undertakings

34

34

Prepayments and accrued income

 

79,920

58,145

Other debtors

 

10,401

87,827

 

182,578

152,264

 

Croham Hurst Golf Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

10

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

33,333

33,333

Trade creditors

 

128,940

55,147

Taxation and social security

 

37,101

95,431

Accruals and deferred income

 

451,966

353,987

Other creditors

 

67,416

78,621

 

718,756

616,519

Current loans and borrowings

2024
£

2023
£

Bank borrowings

33,333

33,333

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

163,165

192,858

11

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

33,333

33,333

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

163,165

192,858


 

 

Croham Hurst Golf Club Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

12 Related party disclosures
The directors regard Croham Hurst Golf Trading Company Limited, a company incorporated in Great Britain, as the company's subsidiary undertaking. The registered address is Croham Hurst Golf Club, Croham Road, South Croydon, Surrey, CR2 7HJ. The company is dormant during the year.