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REGISTERED NUMBER: 00177772 (England and Wales)






















The Hull Golf Club (1921) Limited

Unaudited Financial Statements for the Year Ended 30th June 2024






The Hull Golf Club (1921) Limited (Registered number: 00177772)






Contents of the Financial Statements
for the year ended 30th June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Hull Golf Club (1921) Limited

Company Information
for the year ended 30th June 2024







DIRECTORS: M James
I Jones
D A Johnson
L Evans
P A Hodgson
W H Spicer



SECRETARY: D Knight



REGISTERED OFFICE: The Hall
Packman Lane
Kirk Ella
East Yorkshire
HU10 7TJ



REGISTERED NUMBER: 00177772 (England and Wales)



ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA



BANKERS: Handelsbanken
First Floor, Westcott House
Hesslewood Business Park
Hull
East Yorkshire
HU13 0PF



SOLICITORS: Rollits LLP
Citadel House
58 High Street
Hull
HU1 1QE

The Hull Golf Club (1921) Limited (Registered number: 00177772)

Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,259,611 1,343,229

CURRENT ASSETS
Stocks 103,022 60,574
Debtors 5 104,252 103,127
Cash at bank and in hand 278,061 101,099
485,335 264,800
CREDITORS
Amounts falling due within one year 6 901,427 800,754
NET CURRENT LIABILITIES (416,092 ) (535,954 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

843,519

807,275

CREDITORS
Amounts falling due after more than one
year

7

33,232

52,664
NET ASSETS 810,287 754,611

CAPITAL AND RESERVES
Called up share capital 9 37,850 35,600
Capital reserve 6,250 6,250
Revaluation reserve 750,000 750,000
Retained earnings 16,187 (37,239 )
SHAREHOLDERS' FUNDS 810,287 754,611

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 Hull Golf Club (1921) Limited (Registered number: 00177772)

Balance Sheet - continued
30th June 2024


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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th November 2024 and were signed on its behalf by:





D A Johnson - Director


The Hull Golf Club (1921) Limited (Registered number: 00177772)

Notes to the Financial Statements
for the year ended 30th June 2024

1. STATUTORY INFORMATION

The Hull Golf Club (1921) 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern
Despite the significant profit reported for the year, the balance sheet continues to show significant net current liabilities, leading the directors to consider the appropriateness of continuing to prepare the financial statements under the going concern basis. The directors have therefore assessed the financial resources of the company, including the preparation of financial forecasts for the year to 30th June 2025 and have considered subsequent periods beyond which clearly demonstrate that the company has the ability to operate as a going concern for the foreseeable future, with continuing bank support. Having assessed matters, the directors consider it appropriate to prepare the financial statements under the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Membership fees and subscriptions

Income from membership fees and subscriptions are recognised on an accruals basis in line with the club's annual membership calendar year.

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually at point of sale.

Gifts and donations

Income from gifts and donations are recognised as revenue in the year in which they are received.

Leases
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

The Hull Golf Club (1921) Limited (Registered number: 00177772)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold land- not depreciated
Freehold buildings- 2% on cost
Plant and machinery etc- between 5% and 33.3% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow- moving stock where appropriate.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Pension costs and other post-retirement benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for the service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Reserves
The capital reserve was created in the year ended 31st March 2013 upon the forfeit of shares previously held by former members of the Club.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

The Hull Golf Club (1921) Limited (Registered number: 00177772)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 28 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st July 2023 1,004,170 1,261,506 2,265,676
Additions - 22,859 22,859
Disposals - (1,200 ) (1,200 )
At 30th June 2024 1,004,170 1,283,165 2,287,335
DEPRECIATION
At 1st July 2023 75,000 847,447 922,447
Charge for year 12,000 94,477 106,477
Eliminated on disposal - (1,200 ) (1,200 )
At 30th June 2024 87,000 940,724 1,027,724
NET BOOK VALUE
At 30th June 2024 917,170 342,441 1,259,611
At 30th June 2023 929,170 414,059 1,343,229

Included within the cost of Land and Buildings is freehold land of £400,000 (2023: £400,000) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,051 2,321
Other debtors 102,201 100,806
104,252 103,127

The Hull Golf Club (1921) Limited (Registered number: 00177772)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 17,319 34,912
Trade creditors 79,888 117,961
Corporation Tax 1,874 3,462
Social security and other taxes 36,190 28,251
Other creditors 100,370 104,369
Deferred income 650,039 500,228
Accrued expenses 15,747 11,571
901,427 800,754

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 33,232 52,664

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 50,551 87,576

Hire purchase contracts are secured over the asset to which the agreement relates.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
35,340 Ordinary Shares £1 35,340 33,290
2,510 Ordinary 'A' Shares £1 2,510 2,310
37,850 35,600

During the year the company issued 2050 Ordinary Shares of £1 each and 200 A Ordinary Shares of £1 each, all shares were allotted and fully paid.

10. COMMITMENTS, GUARANTEES AND CONTINGENCIES

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amounted to £19,939 (2023: £27,857).

11. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £4,975 (2023: £20,418) due to a director by the company.