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REGISTERED NUMBER: 07875086 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

KINGSDOWN GOLF CLUB LIMITED

KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KINGSDOWN GOLF CLUB LIMITED

Company Information
for the year ended 31 March 2024







DIRECTORS: S V Lyon
A Noble
R Talbot
S Abbott
T Page
S P J Lilley





REGISTERED OFFICE: Kingsdown Golf Club
Kingsdown
Corsham
Wiltshire
SN13 8BS





REGISTERED NUMBER: 07875086 (England and Wales)





AUDITORS: Richardson Swift Audit Ltd
Chartered Accountants
Statutory Auditor
11 Laura Place
Bath
BA2 4BL

KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 (1,951,350 ) (2,006,151 )
Tangible assets 5 2,817,811 2,766,848
866,461 760,697

CURRENT ASSETS
Stocks 4,000 4,000
Debtors 6 3,600 11,387
Cash at bank 832,632 814,591
840,232 829,978
CREDITORS
Amounts falling due within one year 7 563,185 538,079
NET CURRENT ASSETS 277,047 291,899
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,143,508

1,052,596

CREDITORS
Amounts falling due after more than one
year

8

3,452

15,314
NET ASSETS 1,140,056 1,037,282

RESERVES
Income and expenditure account 1,140,056 1,037,282
1,140,056 1,037,282

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 9 January 2025 and were signed on its behalf by:




S P J Lilley - Director



R Talbot - Director


KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Kingsdown Golf Club Limited is a private company, limited by guarantee , 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.

The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually
associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are
provided in accordance with the stage of completion of the contract when all of the following
conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life
cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Course developments - 5 - 20% on cost
Driving range - 5 -10 % on cost
Plant & machinery - 10 - 20% on cost
Fixtures and fittings - 10 - 20% on cost

KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying
amount is reduced to its selling price less costs to complete and sell. The impairment loss is
recognised immediately in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

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
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

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.

KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)

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 14 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Negative
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 (2,904,837 )
AMORTISATION
At 1 April 2023 (898,686 )
Amortisation for year (54,801 )
At 31 March 2024 (953,487 )
NET BOOK VALUE
At 31 March 2024 (1,951,350 )
At 31 March 2023 (2,006,151 )

5. TANGIBLE FIXED ASSETS
Freehold Course Driving
property developments range
£    £    £   
COST
At 1 April 2023 2,522,498 97,184 189,869
Additions - 43,877 -
Disposals - - -
At 31 March 2024 2,522,498 141,061 189,869
DEPRECIATION
At 1 April 2023 247,500 21,659 121,606
Charge for year 22,000 12,788 6,507
Eliminated on disposal - - -
At 31 March 2024 269,500 34,447 128,113
NET BOOK VALUE
At 31 March 2024 2,252,998 106,614 61,756
At 31 March 2023 2,274,998 75,525 68,263

KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
Plant & and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023 523,399 473,510 3,806,460
Additions 116,926 16,551 177,354
Disposals (32,658 ) (5,351 ) (38,009 )
At 31 March 2024 607,667 484,710 3,945,805
DEPRECIATION
At 1 April 2023 304,536 344,311 1,039,612
Charge for year 52,427 28,854 122,576
Eliminated on disposal (29,245 ) (4,949 ) (34,194 )
At 31 March 2024 327,718 368,216 1,127,994
NET BOOK VALUE
At 31 March 2024 279,949 116,494 2,817,811
At 31 March 2023 218,863 129,199 2,766,848

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,600 11,387

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 9,482 20,707
Trade creditors 32,426 23,467
Taxation and social security 11,345 24,177
Other creditors 509,932 469,728
563,185 538,079

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 3,452 15,314

Hire Purchase creditors are secured on the assets to which they relate.

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

The Report of the Auditors was unqualified.

Catherine Edwards BSc ACA (Senior Statutory Auditor)
for and on behalf of Richardson Swift Audit Ltd

KINGSDOWN GOLF CLUB LIMITED (REGISTERED NUMBER: 07875086)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

10. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements

11. COMPANY STATUS

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10. towards the assets of the company in the event of liquidation.

12. RELATED PARTY TRANSACTIONS

Some of the directors are fee paying members of the golf club.