Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31falsemembers club to provide golf and social facilities for the membership2023-06-01false3635true 00483920 2023-06-01 2024-05-31 00483920 2022-06-01 2023-05-31 00483920 2024-05-31 00483920 2023-05-31 00483920 1 2023-06-01 2024-05-31 00483920 1 2022-06-01 2023-05-31 00483920 d:Director12 2023-06-01 2024-05-31 00483920 e:Buildings 2023-06-01 2024-05-31 00483920 e:Buildings 2024-05-31 00483920 e:Buildings 2023-05-31 00483920 e:Buildings e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 00483920 e:PlantMachinery 2023-06-01 2024-05-31 00483920 e:PlantMachinery 2024-05-31 00483920 e:PlantMachinery 2023-05-31 00483920 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 00483920 e:FurnitureFittings 2023-06-01 2024-05-31 00483920 e:FurnitureFittings 2024-05-31 00483920 e:FurnitureFittings 2023-05-31 00483920 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 00483920 e:OfficeEquipment 2023-06-01 2024-05-31 00483920 e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 00483920 e:CurrentFinancialInstruments 2024-05-31 00483920 e:CurrentFinancialInstruments 2023-05-31 00483920 e:Non-currentFinancialInstruments 2024-05-31 00483920 e:Non-currentFinancialInstruments 2023-05-31 00483920 e:CurrentFinancialInstruments e:WithinOneYear 2024-05-31 00483920 e:CurrentFinancialInstruments e:WithinOneYear 2023-05-31 00483920 e:Non-currentFinancialInstruments e:AfterOneYear 2024-05-31 00483920 e:Non-currentFinancialInstruments e:AfterOneYear 2023-05-31 00483920 e:RetainedEarningsAccumulatedLosses 2024-05-31 00483920 e:RetainedEarningsAccumulatedLosses 2023-05-31 00483920 d:FRS102 2023-06-01 2024-05-31 00483920 d:Audited 2023-06-01 2024-05-31 00483920 d:FullAccounts 2023-06-01 2024-05-31 00483920 d:CompanyLimitedByGuarantee 2023-06-01 2024-05-31 00483920 d:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 00483920 e:PlantMachinery e:LeasedAssetsHeldAsLessee 2024-05-31 00483920 e:PlantMachinery e:LeasedAssetsHeldAsLessee 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 00483920










WOODCOTE PARK GOLF CLUB LIMITED
(A Company Limited by Guarantee)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
WOODCOTE PARK GOLF CLUB LIMITED
 
(A Company Limited by Guarantee)
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2024

2024
2023
Note
£
£

  

Turnover
  
1,761,303
1,700,691

Administrative expenses
  
(1,716,437)
(1,636,399)

Other operating income
 4 
30,419
29,261

Operating profit
  
75,285
93,553

Interest receivable and similar income
  
8,095
560

Interest payable and expenses
  
(30,385)
(28,147)

Profit before tax
  
52,995
65,966

Tax on profit
  
(7,116)
(7,000)

Profit for the financial year
  
45,879
58,966

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 4 to 11 form part of these financial statements.

Page 1

 
WOODCOTE PARK GOLF CLUB LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 00483920

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
1,356,039
1,408,921

  
1,356,039
1,408,921

Current assets
  

Stocks
  
23,595
25,171

Debtors: amounts falling due within one year
 7 
290,827
281,564

Cash at bank and in hand
  
885,121
806,523

  
1,199,543
1,113,258

Creditors: amounts falling due within one year
 8 
(1,365,486)
(1,321,329)

Net current liabilities
  
 
 
(165,943)
 
 
(208,071)

Total assets less current liabilities
  
1,190,096
1,200,850

Creditors: amounts falling due after more than one year
 9 
(395,140)
(451,773)

  

Net assets
  
794,956
749,077


Capital and reserves
  

Profit and loss account
  
794,956
749,077

  
794,956
749,077


Page 2

 
WOODCOTE PARK GOLF CLUB LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 00483920
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 September 2024.



S G Barrell
Director


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
WOODCOTE PARK GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

The Company is a company limited by guarantee and is incorporated in England and Wales. The address of its registered office is Meadow Hill, Bridle Way, Coulsdon, Surrey, CR5 2QQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After reviewing the Company's forecasts and projections the directors have a reasonable expectation that the Company has adequate resources to continue to operate for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the financial statements. 

  
2.3

Revenue

Turnover represents the total income recognised in the year and includes Members' subscriptions, entrance fees, green fees, buggy hire and bar and catering sales. Income is stated exclusive of VAT where applicable.

Subscription income
Revenue from subscription income is recognised in the period in which the services are provided to the extent that revenue can be reliably measured. Income received in relation to subsequent periods is included in deferred income.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 4

 
WOODCOTE PARK GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line and reducing balance methods.

The estimated useful lives range as follows:

Freehold property
-
10 to 50 years straight line
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Course and other buildings
-
7 to 10 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
 
 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried
Page 5

 
WOODCOTE PARK GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Page 6

 
WOODCOTE PARK GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.12

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.13

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.15

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 7

 
WOODCOTE PARK GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated by the directors and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. Actual results may differ from these estimates. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The company’s significant estimate is in relation to depreciation rates and the useful economic lives of fixed assets, which have been consistently applied.


4.


Other operating income

2024
2023
£
£

Net rents receivable
30,419
29,261

30,419
29,261



5.


Employees

The average monthly number of employees, including directors, during the year was 36 (2023 - 35).

Page 8

 
WOODCOTE PARK GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost


At 1 June 2023
2,443,231
390,650
402,216
3,236,097


Additions
59,831
1,720
8,891
70,442


Disposals
(22,169)
(1,010)
-
(23,179)



At 31 May 2024

2,480,893
391,360
411,107
3,283,360



Depreciation


At 1 June 2023
1,249,482
267,928
309,766
1,827,176


Charge for the year on owned assets
58,075
18,087
25,800
101,962


Disposals
(903)
(915)
-
(1,818)



At 31 May 2024

1,306,654
285,100
335,566
1,927,320



Net book value



At 31 May 2024
1,174,239
106,260
75,541
1,356,040



At 31 May 2023
1,193,749
122,722
92,450
1,408,921

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
45,074
47,456

Page 9

 
WOODCOTE PARK GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Debtors

2024
2023
£
£


Trade debtors
236,298
240,255

Prepayments and accrued income
54,529
41,309

290,827
281,564



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
54,487
53,206

Trade creditors
53,321
70,736

Corporation tax
7,013
7,037

Other taxation and social security
43,316
47,697

Obligations under finance lease and hire purchase contracts
5,884
18,659

Other creditors
33,082
43,295

Accruals and deferred income
1,168,383
1,080,699

1,365,486
1,321,329


The loan with Lloyds Bank PLC is secured by way of a fixed and floating charge with negative pledge over all assets of the company.
The finance lease liabilities are secured over the assets concerned.

Page 10

 
WOODCOTE PARK GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
385,426
435,763

Net obligations under finance leases and hire purchase contracts
9,714
16,010

395,140
451,773


The loan with Lloyds Bank Plc is secured by way of a fixed and floating charge with negative pledge over all assets of the company.
The finance lease liabilities are secured over the assets concerned.
Included in bank loans is an amount of £153,825 (2023: £206,793) which falls due by instalments after more than 5 years.



10.


Company status

The company is a private company limited by guarantee 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.


11.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £23,982 (2023: £21,953). Contributions totalling £4,374 (2023: £4,134) were payable to the fund at the balance sheet date and are included in creditors. 


12.


Related party transactions

There were no related party transactions during the year other than the use of the Club's facilities on a normal basis by Directors.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 May 2024 was unqualified.

The audit report was signed on 23 September 2024 by James Hallett (ACA) (Senior Statutory Auditor) on behalf of Sumer Auditco Limited.

Page 11