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REGISTERED NUMBER: 00066982 (England and Wales)















SEACROFT GOLF LINKS COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






SEACROFT GOLF LINKS COMPANY LIMITED (REGISTERED NUMBER: 00066982)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SEACROFT GOLF LINKS COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M D Bates
J Canning
K L Hussey
R J H Sharp
D C Sorby
N Roylance
S Plaskitt
L Askin
N Willerton


SECRETARY: S A Turner


REGISTERED OFFICE: The Clubhouse
Drummond Road
Seacroft
Skegness
Lincolnshire
PE25 3AU


REGISTERED NUMBER: 00066982 (England and Wales)


ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT


BANKERS: Lloyds Bank
51 Lumley Road
Skegness
Lincolnshire
PE253LP

SEACROFT GOLF LINKS COMPANY LIMITED (REGISTERED NUMBER: 00066982)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 990,676 955,624

CURRENT ASSETS
Stocks 20,321 21,176
Debtors 5 11,091 12,539
Cash at bank 344,555 336,601
375,967 370,316
CREDITORS
Amounts falling due within one year 6 311,963 310,925
NET CURRENT ASSETS 64,004 59,391
TOTAL ASSETS LESS CURRENT LIABILITIES 1,054,680 1,015,015

CREDITORS
Amounts falling due after more than one year 7 (405,471 ) (429,229 )

PROVISIONS FOR LIABILITIES (50 ) (50 )
NET ASSETS 649,159 585,736

CAPITAL AND RESERVES
Called up share capital 7,314 7,314
Retained earnings 641,845 578,422
SHAREHOLDERS' FUNDS 649,159 585,736

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:





S Plaskitt - Director


SEACROFT GOLF LINKS COMPANY LIMITED (REGISTERED NUMBER: 00066982)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Seacroft Golf Links Company Limited is a private company, limited by shares , registered in England and Wales. 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 (£).


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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost, 4% on cost and Nil
Plant and machinery etc - 20% on cost, 10% on cost and 3 - 13 years straight line

Tangible fixed assets are held at cost less depreciation.

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

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

The company do not claim capital allowances on the assets acquired, therefore no deferred taxation is reserved in the financial statements.

SEACROFT GOLF LINKS COMPANY LIMITED (REGISTERED NUMBER: 00066982)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 869,479 1,001,192 1,870,671
Additions - 88,473 88,473
Disposals - (29,318 ) (29,318 )
At 31 March 2024 869,479 1,060,347 1,929,826
DEPRECIATION
At 1 April 2023 238,527 676,520 915,047
Charge for year 9,873 43,548 53,421
Eliminated on disposal - (29,318 ) (29,318 )
At 31 March 2024 248,400 690,750 939,150
NET BOOK VALUE
At 31 March 2024 621,079 369,597 990,676
At 31 March 2023 630,952 324,672 955,624


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 4,087 3,492
Other debtors 7,004 9,047
11,091 12,539

SEACROFT GOLF LINKS COMPANY LIMITED (REGISTERED NUMBER: 00066982)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 30,000 30,000
Receipts in advance 246,703 241,543
Trade creditors 14,308 22,585
Taxation and social security 5,573 255
Other creditors 15,379 16,542
311,963 310,925

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 165,775 190,646
Other creditors 239,696 238,583
405,471 429,229

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 195,775 220,646

The bank overdraft and bank loans are secured on the freehold property at Drummond Road, Skegness, Lincs.

The bounce back loan is secured by the UK Government.