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REGISTERED NUMBER: 11831125 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

THE OAKS GOLF CLUB & SPA LIMITED

THE OAKS GOLF CLUB & SPA LIMITED (REGISTERED NUMBER: 11831125)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE OAKS GOLF CLUB & SPA LIMITED

COMPANY INFORMATION
For The Year Ended 31 May 2024







DIRECTORS: Mr W R Nutt
Mr E J C Nutt





REGISTERED OFFICE: The Oaks Golf Club & Spa
Aughton Common
Aughton
York
YO42 4PW





REGISTERED NUMBER: 11831125 (England and Wales)





ACCOUNTANTS: Fortus Limited
Business Advisors & Accountants
Equinox House
Clifton Park, Shipton Road
York
Yorkshire
YO30 5PA

THE OAKS GOLF CLUB & SPA LIMITED (REGISTERED NUMBER: 11831125)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 135,009 159,934
Tangible assets 5 377,200 346,826
512,209 506,760

CURRENT ASSETS
Stocks 105,853 107,102
Debtors 6 200,137 238,000
Cash at bank and in hand 480,148 403,209
786,138 748,311
CREDITORS
Amounts falling due within one year 7 495,709 306,104
NET CURRENT ASSETS 290,429 442,207
TOTAL ASSETS LESS CURRENT LIABILITIES 802,638 948,967

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Other reserves 350,567 350,567
Retained earnings 451,071 597,400
802,638 948,967

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 OAKS GOLF CLUB & SPA LIMITED (REGISTERED NUMBER: 11831125)

BALANCE SHEET - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:




Mr W R Nutt - Director



Mr E J C Nutt - Director


THE OAKS GOLF CLUB & SPA LIMITED (REGISTERED NUMBER: 11831125)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2024


1. STATUTORY INFORMATION

The Oaks Golf Club & Spa 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

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

THE OAKS GOLF CLUB & SPA LIMITED (REGISTERED NUMBER: 11831125)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued

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

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


THE OAKS GOLF CLUB & SPA LIMITED (REGISTERED NUMBER: 11831125)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued
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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 (2023 - 45 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 249,247
AMORTISATION
At 1 June 2023 89,313
Charge for year 24,925
At 31 May 2024 114,238
NET BOOK VALUE
At 31 May 2024 135,009
At 31 May 2023 159,934

THE OAKS GOLF CLUB & SPA LIMITED (REGISTERED NUMBER: 11831125)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 585,225
Additions 113,139
At 31 May 2024 698,364
DEPRECIATION
At 1 June 2023 238,399
Charge for year 82,765
At 31 May 2024 321,164
NET BOOK VALUE
At 31 May 2024 377,200
At 31 May 2023 346,826

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 200,137 238,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 37,234 57,827
Taxation and social security 210,809 142,839
Other creditors 247,666 105,438
495,709 306,104

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mr W R Nutt
Balance outstanding at start of year - 1,577
Amounts advanced 87,069 136,358
Amounts repaid - (137,935 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 87,069 -

THE OAKS GOLF CLUB & SPA LIMITED (REGISTERED NUMBER: 11831125)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr E J C Nutt
Balance outstanding at start of year - (1,018 )
Amounts advanced 87,069 137,655
Amounts repaid - (136,637 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 87,069 -

9. RELATED PARTY DISCLOSURES

As at the reporting date, the company was owed the following amounts:

£26,000 (2023: £26,000) from Woodland Lakes Ltd, a company with common Directorships

£Nil (2023: £212,000) from Aughton Combined Limited, the ultimate parent company