Silverfin false false 31/03/2024 01/04/2023 31/03/2024 P Allott 02/12/2020 A J Bloom 06/12/2023 D J Buller 02/10/2024 S Cazier 06/12/2023 07/12/2022 K N Cooke 07/12/2022 J A Dickson 06/12/2023 N J Dickson 07/12/2022 T M Elliott 06/12/2023 J A Huggins 01/12/2021 A G Long 06/12/2023 02/12/2020 V L Smith 06/12/2023 07/12/2022 J E Twogood 06/12/2023 07/12/2022 C G White 30/05/2024 06/12/2023 13 November 2024 The principal activity of the company during the year was that of a members golf club. 10622816 2024-03-31 10622816 bus:Director1 2024-03-31 10622816 bus:Director2 2024-03-31 10622816 bus:Director3 2024-03-31 10622816 bus:Director4 2024-03-31 10622816 bus:Director5 2024-03-31 10622816 bus:Director6 2024-03-31 10622816 bus:Director7 2024-03-31 10622816 bus:Director8 2024-03-31 10622816 bus:Director9 2024-03-31 10622816 bus:Director10 2024-03-31 10622816 bus:Director11 2024-03-31 10622816 bus:Director12 2024-03-31 10622816 bus:Director13 2024-03-31 10622816 2023-03-31 10622816 core:CurrentFinancialInstruments 2024-03-31 10622816 core:CurrentFinancialInstruments 2023-03-31 10622816 core:Non-currentFinancialInstruments 2024-03-31 10622816 core:Non-currentFinancialInstruments 2023-03-31 10622816 core:RevaluationReserve 2024-03-31 10622816 core:RevaluationReserve 2023-03-31 10622816 core:RetainedEarningsAccumulatedLosses 2024-03-31 10622816 core:RetainedEarningsAccumulatedLosses 2023-03-31 10622816 core:LandBuildings 2023-03-31 10622816 core:FurnitureFittings 2023-03-31 10622816 core:ToolsEquipment 2023-03-31 10622816 core:LandBuildings 2024-03-31 10622816 core:FurnitureFittings 2024-03-31 10622816 core:ToolsEquipment 2024-03-31 10622816 core:WithinOneYear 2024-03-31 10622816 core:WithinOneYear 2023-03-31 10622816 core:BetweenOneFiveYears 2024-03-31 10622816 core:BetweenOneFiveYears 2023-03-31 10622816 2023-04-01 2024-03-31 10622816 bus:FilletedAccounts 2023-04-01 2024-03-31 10622816 bus:SmallEntities 2023-04-01 2024-03-31 10622816 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10622816 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 10622816 bus:Director1 2023-04-01 2024-03-31 10622816 bus:Director2 2023-04-01 2024-03-31 10622816 bus:Director3 2023-04-01 2024-03-31 10622816 bus:Director4 2023-04-01 2024-03-31 10622816 bus:Director5 2023-04-01 2024-03-31 10622816 bus:Director6 2023-04-01 2024-03-31 10622816 bus:Director7 2023-04-01 2024-03-31 10622816 bus:Director8 2023-04-01 2024-03-31 10622816 bus:Director9 2023-04-01 2024-03-31 10622816 bus:Director10 2023-04-01 2024-03-31 10622816 bus:Director11 2023-04-01 2024-03-31 10622816 bus:Director12 2023-04-01 2024-03-31 10622816 bus:Director13 2023-04-01 2024-03-31 10622816 core:LandBuildings core:TopRangeValue 2023-04-01 2024-03-31 10622816 core:FurnitureFittings 2023-04-01 2024-03-31 10622816 core:FurnitureFittings core:TopRangeValue 2023-04-01 2024-03-31 10622816 core:ToolsEquipment 2023-04-01 2024-03-31 10622816 2022-04-01 2023-03-31 10622816 core:LandBuildings 2023-04-01 2024-03-31 10622816 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 10622816 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 10622816 (England and Wales)

THETFORD GOLF CLUB LIMITED

(A company limited by guarantee)

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

THETFORD GOLF CLUB LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

THETFORD GOLF CLUB LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
THETFORD GOLF CLUB LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS P Allott
A J Bloom (Appointed 06 December 2023)
D J Buller (Appointed 02 October 2024)
S Cazier (Resigned 06 December 2023)
K N Cooke
J A Dickson (Appointed 06 December 2023)
N J Dickson
T M Elliott (Appointed 06 December 2023)
J A Huggins
A G Long (Resigned 06 December 2023)
V L Smith (Resigned 06 December 2023)
J E Twogood (Resigned 06 December 2023)
C G White (Appointed 06 December 2023, Resigned 30 May 2024)
SECRETARY D J Buller
REGISTERED OFFICE Brandon Road
Thetford
Norfolk
IP24 3NE
United Kingdom
COMPANY NUMBER 10622816 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
THETFORD GOLF CLUB LIMITED

BALANCE SHEET

As at 31 March 2024
THETFORD GOLF CLUB LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,026,115 2,002,391
2,026,115 2,002,391
Current assets
Stocks 33,238 33,779
Debtors 4 376,132 301,733
Cash at bank and in hand 211,711 159,541
621,081 495,053
Creditors: amounts falling due within one year 5 ( 699,379) ( 620,809)
Net current liabilities (78,298) (125,756)
Total assets less current liabilities 1,947,817 1,876,635
Creditors: amounts falling due after more than one year 6 ( 96,000) ( 163,377)
Net assets 1,851,817 1,713,258
Reserves
Revaluation reserve 789,831 789,831
Profit and loss account 1,061,986 923,427
Total reserves 1,851,817 1,713,258

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Thetford Golf Club Limited (registered number: 10622816) were approved and authorised for issue by the Board of Directors on 13 November 2024. They were signed on its behalf by:

D J Buller
Director
N J Dickson
Director
THETFORD GOLF CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
THETFORD GOLF CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Thetford Golf Club Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Brandon Road, Thetford, Norfolk, IP24 3NE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Fixtures and fittings 20 % reducing balance
10 years straight line
Tools and equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 34 32

3. Tangible assets

Land and buildings Fixtures and fittings Tools and equipment Total
£ £ £ £
Cost
At 01 April 2023 1,763,134 58,541 344,161 2,165,836
Additions 0 57,592 25,149 82,741
At 31 March 2024 1,763,134 116,133 369,310 2,248,577
Accumulated depreciation
At 01 April 2023 5,252 26,995 131,198 163,445
Charge for the financial year 1,313 12,068 45,636 59,017
At 31 March 2024 6,565 39,063 176,834 222,462
Net book value
At 31 March 2024 1,756,569 77,070 192,476 2,026,115
At 31 March 2023 1,757,882 31,546 212,963 2,002,391

The land & buildings were revalued at £1,750,000 on 31 March 2018. The directors are of the opinion that the current market value is not materially different to this value.

4. Debtors

2024 2023
£ £
Trade debtors 344,375 277,196
Prepayments 4,591 14,952
VAT recoverable 0 3,145
Other debtors 27,166 6,440
376,132 301,733

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 20,000
Trade creditors 28,958 38,863
Taxation and social security 61,140 21,168
Obligations under finance leases and hire purchase contracts 14,667 29,945
Other creditors 594,614 510,833
699,379 620,809

Included in other creditors are debenture loans of £48,000 (2023: £48,000) which are unsecured and are repayable in annual instalments over 5 years concluding on 31 March 2027. Interest is payable annually at 3% per annum.

Included in other creditors are hire purchase agreements amounting to £14,667 (2023: £29,945) which are secured on the assets involved.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 5,000
Obligations under finance leases and hire purchase contracts 0 14,377
Other creditors 96,000 144,000
96,000 163,377

Included in other creditors are hire purchase agreements amounting to £Nil (2023: £14,377) which are secured on the assets involved.

Included in other creditors are debenture loans of £96.000 (2023: £144,000) which are unsecured and are repayable in annual instalments over five years concluding on 31 March 2027. Interest is payable annually at 3% per annum.

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 169 0
between one and five years 45,936 28,321
46,105 28,321