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REGISTERED NUMBER: 02880143 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Reigate Hill Golf Limited

Reigate Hill Golf Limited (Registered number: 02880143)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Reigate Hill Golf Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P Colebrook
R K F Colebrook
D K R Colebrook
A J Richards
M G Ducker



SECRETARY: P Colebrook



REGISTERED OFFICE: Gatton House
Whitehall Farm
Rocky Lane
Reigate
Surrey
RH2 0TA



REGISTERED NUMBER: 02880143 (England and Wales)



ACCOUNTANTS: Bullimores LLP
Chartered Accountants
Old Printers Yard
156 South Street
Dorking
Surrey
RH4 2HF



BANKERS: Natwest
3 High Street
Maidstone
Kent
ME14 1XU

Reigate Hill Golf Limited (Registered number: 02880143)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,941,488 1,997,225

CURRENT ASSETS
Stocks 5 56,325 48,412
Debtors 6 278,773 262,907
Cash at bank 176,769 186,956
511,867 498,275
CREDITORS
Amounts falling due within one year 7 785,863 788,359
NET CURRENT LIABILITIES (273,996 ) (290,084 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,667,492

1,707,141

CREDITORS
Amounts falling due after more than one year 8 1,045,916 1,064,364
NET ASSETS 621,576 642,777

CAPITAL AND RESERVES
Called up share capital 11 1,026,000 1,026,000
Retained earnings (404,424 ) (383,223 )
SHAREHOLDERS' FUNDS 621,576 642,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Reigate Hill Golf Limited (Registered number: 02880143)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:





R K F Colebrook - Director


Reigate Hill Golf Limited (Registered number: 02880143)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Reigate Hill Golf 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern basis
The accounts are prepared under the basis that the company will continue to exist as a going concern. This is dependent on loans from directors and from the trading partnership controlled by the directors and their families.

Turnover
Turnover represents net invoiced sales of subscriptions to the Golf Club, green fees and clubhouse takings. Subscription income is matched to the period to which it relates, so subscriptions received in advance of the subscription year are recognised as deferred income.

Tangible fixed assets
Depreciation is provided on all tangible fixed assets other than freehold land at rates calculated to write off each asset over its estimated useful life. The principal annual rates in use are:

Clubhouse2% on cost
Road and carpark10% on written down value
Motor vehicles25% on written down value
Furniture, fixtures and fittings15% on written down value
Course, kitchen and office equipment25% on written down value

Depreciation is not provided on land or on the initial costs of developing the land. Assets are recorded at original cost.

At each reporting date, assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and an impairment loss is recognised immediately in the income statement.

Stocks
Stock is valued at the lower of cost and estimated net realisable value, after making due allowance for obsolete and slow moving items.


Reigate Hill Golf Limited (Registered number: 02880143)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2023 - 53 ) .

Reigate Hill Golf Limited (Registered number: 02880143)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Course,
kitchen
and Fixtures
Freehold office and
property equipment fittings Totals
£    £    £    £   
COST
At 1 April 2023 2,293,987 317,871 644,183 3,256,041
Additions 9,077 7,749 10,219 27,045
Disposals - (17,047 ) (22,458 ) (39,505 )
At 31 March 2024 2,303,064 308,573 631,944 3,243,581
DEPRECIATION
At 1 April 2023 687,184 238,875 332,757 1,258,816
Charge for year 26,678 21,410 30,688 78,776
Eliminated on disposal - (15,939 ) (19,560 ) (35,499 )
At 31 March 2024 713,862 244,346 343,885 1,302,093
NET BOOK VALUE
At 31 March 2024 1,589,202 64,227 288,059 1,941,488
At 31 March 2023 1,606,803 78,996 311,426 1,997,225

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Course,
kitchen
and
office
equipment
£   
COST
At 1 April 2023
and 31 March 2024 111,700
DEPRECIATION
At 1 April 2023 64,517
Charge for year 11,796
At 31 March 2024 76,313
NET BOOK VALUE
At 31 March 2024 35,387
At 31 March 2023 47,183

Reigate Hill Golf Limited (Registered number: 02880143)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. STOCKS
31.3.24 31.3.23
£    £   
Goods for resale 56,325 48,412

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 270,926 257,363
Other debtors 7,847 5,544
278,773 262,907

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 6,210 6,210
Hire purchase contracts (see note 9) 6,958 15,820
Trade creditors 234,208 225,547
Social security and other taxes 15,142 9,988
VAT 66,334 63,644
Other creditors 9,319 6,914
Directors' current accounts 47,895 47,895
Deferred income 399,797 412,341
785,863 788,359

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 1-2 years 6,210 6,210
Bank loans 2-5 years 18,629 18,629
Bank loans > 5 years 1,357 7,567
Hire purchase contracts (see note 9) 14,862 22,100
Directors' loans 473,666 478,666
Membership deposits 531,192 531,192
1,045,916 1,064,364

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans > 5 years 1,357 7,567

An amount included in Membership Deposits of £531,192 (2023- £531,192) is due in more than five years.

Reigate Hill Golf Limited (Registered number: 02880143)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 6,958 15,820
Between one and five years 14,862 22,100
21,820 37,920

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 57,338 36,906
Between one and five years 140,755 113,077
198,093 149,983

10. SECURED DEBTS

The bank hold a debenture with a fixed and floating charge over the company assets and a first legal mortgage over the freehold property owned by the company for any monies owed.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
526,000 Ordinary £1 526,000 526,000
500,000 Redeemable preference shares £1 500,000 500,000
1,026,000 1,026,000

The preference shares are redeemable at par at any time in whole or in part at the option of the company. On winding up the preference shares rank ahead of the ordinary shares and would be repaid at par. The preference shares carry voting rights of 1 vote for every 25 shares. In all other respects the redeemable preference shares rank pari passu with the ordinary shares.

Reigate Hill Golf Limited (Registered number: 02880143)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. CONTINGENT LIABILITIES

The initial membership scheme required all new club members to pay a deposit on joining. The agreement was that this deposit would be repaid to the member on resignation, but only using the replacement funds generated by a replacement member. For commercial reasons this scheme was ended some years ago and new members do not pay a deposit.

The directors continue to believe that there is no obligation for the company to repay the deposits of resigned members until there are replacement membership deposits received as the initial agreement provided. The full liability of all deposits held is recognised in the balance sheet.

The directors are mindful of the way in which they can maintain the resources with which to run the club and be equitable to the members and ex members who paid deposits.

A full review of all paperwork relating to the original deposits received has been conducted in the year ended 31 March 2023 and the liability amended according.

13. RELATED PARTY DISCLOSURES

Loans owed to the directors and their close family total £473,666 at the balance sheet date (2023 - £478,666). No interest has been charged on these loans in the year under review.

14. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors who own 100% of the issued share capital.