REGISTERED NUMBER: |
RBGC LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
REGISTERED NUMBER: |
RBGC LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
RBGC LIMITED (REGISTERED NUMBER: 09794795) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 May 2024 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 3 |
RBGC LIMITED |
COMPANY INFORMATION |
for the year ended 31 May 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditors |
Lygon House |
50 London Road |
Bromley |
Kent |
BR1 3RA |
RBGC LIMITED (REGISTERED NUMBER: 09794795) |
BALANCE SHEET |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
TOTAL RESERVES |
Total reserves | 9 |
In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RBGC LIMITED (REGISTERED NUMBER: 09794795) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 May 2024 |
1. | STATUTORY INFORMATION |
RBGC Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises of subscriptions & locker rents, entrance fees, QCC income, green fees and house income. |
Tangible fixed assets |
Freehold property | - |
Course improvements and plant and machinery |
- |
House improvements | - |
Cottages improvements | - |
Fixtures and fittings | - |
Depreciation is not provided with respect to the the freehold property as, in the opinion of the directors, it is maintained to a standard that precludes the requirement to depreciate and therefore the carrying amount is a true and fair representation of the cost of the building. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
RBGC LIMITED (REGISTERED NUMBER: 09794795) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 May 2024 |
4. | TANGIBLE FIXED ASSETS |
Course |
improvements |
and plant |
Freehold | and | House |
property | machinery | improvements |
£ | £ | £ |
COST |
At 1 June 2023 |
Additions |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Fixtures |
Cottages | and |
improvements | fittings | Totals |
£ | £ | £ |
COST |
At 1 June 2023 |
Additions |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
In addition to the fixed assets noted above the company owns various items of historical golfing memorabilia. These assets have no carrying value, however, the directors expect the potential fair value could be substantial for some items. As the assets are not held for sale, and an accurate valuation of the assets cannot be ascertained for accounting purposes due to the nature of the items, the directors consider it inappropriate to include a value in these financial statements. These items are currently insured for £1,914,936. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
RBGC LIMITED (REGISTERED NUMBER: 09794795) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 May 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Loan notes - more than 5 years | 1,524,876 | 1,556,907 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
9. | TOTAL RESERVES |
Included in total reserves is an accumulated surplus of £1,022,708 and the value of the net assets transferred from Royal Blackheath Golf Club totalling £1,245,000, in 2017. |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the auditors was unqualified. |
for and on behalf of |
11. | LIMITED BY GUARANTEE |
The liability of each member is limited to £10, being the amount that each member undertakes to contribute to the assets of the company in the event of it being wound up while he is a member or within one year after he ceases to be a member, for- |
(a) payment of the company's debts and liabilities contracted before he ceases to be a member, |
(b) payment of the costs, charges and expenses of winding up, and |
(c) adjustment of the rights of the contributories among themselves. |