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REGISTERED NUMBER: 00758628 (England and Wales)






















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GATHURST GOLF CLUB LIMITED

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)






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


GATHURST GOLF CLUB LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: M Jordan
H Thomas
D Leyland
P Lomax
D Haydock
J Wall
Mrs S Mason
Mrs J Wall
R Spencer
J C O'Callaghan
S F Guney
D Rogerson





REGISTERED OFFICE: Miles Lane
Shevington
Wigan
Lancashire
WN6 8EW





REGISTERED NUMBER: 00758628 (England and Wales)





AUDITORS: Fairhurst Audit Services Ltd
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,698,996 1,695,178

CURRENT ASSETS
Stocks 3,925 4,858
Debtors 5 59,456 61,774
Cash at bank and in hand 445,302 503,019
508,683 569,651
CREDITORS
Amounts falling due within one year 6 471,605 513,258
NET CURRENT ASSETS 37,078 56,393
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,736,074

1,751,571

CREDITORS
Amounts falling due after more than one
year

7

(170,919

)

(205,685

)

PROVISIONS FOR LIABILITIES (76,117 ) (77,996 )
NET ASSETS 1,489,038 1,467,890

CAPITAL AND RESERVES
Called up share capital 10 83,880 87,300
Revaluation reserve 11 494,561 494,561
Retained earnings 11 910,597 886,029
SHAREHOLDERS' FUNDS 1,489,038 1,467,890

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:





R Spencer - Director


GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Gathurst Golf Club 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.

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 as modified by the revaluation of certain assets.

The disclosure requirements of section 1a of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The prior period reporting date was extended to eighteen months so as to fall in line with the golf subscription year. The comparative amounts in the financial statements (including the related notes) are therefore not entirely comparable with the previous year due to the extended period.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover
Turnover represents income from membership subscriptions, bar income, green fees, competition fees, room hire fees and sundry income such as that generated from buggy shed hire and snooker tables and is stated exclusive of VAT; where appropriate.

Income from membership income is recognised evenly over the accounting period which it falls into.

Income from bar sales is recognised at the point that the customer receives the goods.

Income from green fees and competition fees are recognised at the point at which the customer receives the service.

Room hire fees are recognised at the point at which the event is held.

Competition income is recognised at the point at which the competition is held.

Sponsorship income is recognised over the period of time to which the sponsorship relates.

Sundry income mostly relates to the rental of golf buggies and lockers and is recognised over the period of time to which the rental relates.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation, less depreciation and impairment write downs.

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.

Freehold land & buildings - 2% straight line (excluding land)
Improvements to property - 10% straight line
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Upon transition to FRS 102 the directors elected to treat the valuation of land and buildings, obtained in June 2015, which represents fair value, as deemed cost of land and buildings at the date of transition.

Stocks
Bar stocks have been stated at the lower of cost and net estimated selling price.

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments.

The following assets and liabilities are classified as financial instruments; bank accounts, trade debtors, bank loans, hire purchase agreements, trade creditors and accruals

Financial instruments that are payable or receivable within one year; typically bank account, trade debtors, trade creditors and accruals are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received.

Financial instruments repayable in more than one year such as bank loans and hire purchase agreements are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial.

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
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.

Leasing commitments
Assets obtained under hire purchase contracts are capitalised in the statement of financial position and are depreciated over their estimated useful lives.

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

Rentals paid under operating leases are charged to income statement as incurred.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grant income
Grant income received for the purchase of fixed assets is classified within current liabilities and is recognised in the income statement over the useful economic life of the asset purchased.

Grant income received in respect of revenue expenditure is recognised in the income statement in the year in which expenditure is incurred.

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Freehold Improvements Fixtures
land & to Plant and and
buildings property machinery fittings Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 1,672,395 51,976 391,660 316,549 2,432,580
Additions - - 14,846 25,717 40,563
Disposals - - (617 ) (3,217 ) (3,834 )
At 31 March 2024 1,672,395 51,976 405,889 339,049 2,469,309
DEPRECIATION
At 1 April 2023 91,625 49,148 325,929 270,700 737,402
Charge for year 10,230 1,414 14,791 9,996 36,431
Eliminated on disposal - - (545 ) (2,975 ) (3,520 )
At 31 March 2024 101,855 50,562 340,175 277,721 770,313
NET BOOK VALUE
At 31 March 2024 1,570,540 1,414 65,714 61,328 1,698,996
At 31 March 2023 1,580,770 2,828 65,731 45,849 1,695,178

Included in cost or valuation of land and buildings is freehold land of £ 1,160,882 (2023 - £ 1,160,882 ) which is not depreciated.

The following is a detailed breakdown of the capital expenditure incurred during the year;

£
Changing room lockers20,970

20,970

Cost or valuation at 31 March 2024 is represented by:

Freehold Improvements Fixtures
land & to Plant and and
buildings property machinery fittings Totals
£    £    £    £    £   
Cost 1,672,395 51,976 405,889 339,049 2,469,309

The net book value of tangible fixed assets includes £ 22,504 (2023 - £ 28,130 ) in respect of assets held under finance leases.

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 120
Other debtors 510 -
Called up share capital not paid 49,051 51,737
Prepayments 9,895 9,917
59,456 61,774

Called up share capital not paid relates to 275 (2023: 283) shareholders who paid £1 at the time of purchasing a £180 ordinary share and 6 (2023: 6) shareholders who, at the reporting date, had paid £nil towards their £180 ordinary share. The outstanding amounts are repayable at the request of the company.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 29,032 29,032
Finance leases (see note 8) 8,098 10,013
Trade creditors & accruals 10,742 20,550
Tax 4,979 4,112
Social security and other taxes 9,843 12,262
Other creditors 37,416 37,609
Deferred income 363,575 391,763
Accrued expenses 7,920 7,917
471,605 513,258

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan 1-2 years 29,032 29,032
Bank loan 2-5 years 61,211 71,132
Bank loan over 5 years 64,974 81,883
Finance leases (see note 8) 15,702 23,638
170,919 205,685

Amounts falling due in more than five years:

Repayable by instalments
Bank loan over 5 years 64,974 81,883

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 8,098 10,013
Between one and five years 15,702 23,638
23,800 33,651

Non-cancellable operating leases
2024 2023
£    £   
Within one year 40,757 40,757
Between one and five years 24,173 40,757
In more than five years 300 24,474
65,230 105,988

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Finance leases 23,800 33,651
Mortgage 160,132 177,041
183,932 210,692

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
466 Ordinary £180 shares £180 83,880 87,300
(2023 - 485 )

23 ordinary shares of £180 were issued during the year. The company purchased 42 of its own ordinary shares during the year. Shares are purchased when shareholders, who are members of the golf club, wish to cease their membership.

GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 886,029 494,561 1,380,590
Profit for the year 24,568 24,568
At 31 March 2024 910,597 494,561 1,405,158



12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gary Edgerton FCA Cert PFS (Senior Statutory Auditor)
for and on behalf of Fairhurst Audit Services Ltd

13. TURNOVER CONSISTS OF:-

2024 2023
£ £ £ £

Subscriptions 479,297 449,656

Bar Sales 155,306 161,420

Green Fees - Visitors 29,359 29,319
- Societies 15,727 14,134
45,086 43,453

Competitions and opens 32,020 43,993

Social events 8,187 12,178

Buggy Shed 7,306 7,769

Sponsorship 7,347 7,968

Donations - 14,402

Other income 12,440 13,092
746,989 759,931



GATHURST GOLF CLUB LIMITED (REGISTERED NUMBER: 00758628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

14. OTHER OPERATING INCOME CONSISTS OF:-


2024 2023
£ £
Sports England Grant 448 448
448 448











15. CASH AT BANK AND IN HAND

2024 2023
£ £
Bank accounts - - Current account 42,983 40,500
- Reserve account 15,506 86,187
- Liquidity Manager 95 Day 36,844 -
- Matured GIA - 18,010
- 100 Club current account 30 -
- Liquidity Manager 35 Day 5,984 -
- Subscriptions account 322,000 338.309
423,347 483,016

Cash and floats - - Petty cash and cash floats 3,157 4,586
- Credit card control account 18,798 15,417
445,302 503,019