| REGISTERED NUMBER: |
| NEW ZEALAND GOLF CLUB LTD |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2024 |
| REGISTERED NUMBER: |
| NEW ZEALAND GOLF CLUB LTD |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2024 |
| NEW ZEALAND GOLF CLUB LTD (REGISTERED NUMBER: 00098139) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 May 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| NEW ZEALAND GOLF CLUB LTD |
| COMPANY INFORMATION |
| for the year ended 31 May 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITOR: |
| 264 Banbury Road |
| Oxford |
| Oxfordshire |
| OX2 7DY |
| NEW ZEALAND GOLF CLUB LTD (REGISTERED NUMBER: 00098139) |
| BALANCE SHEET |
| 31 May 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Capital redemption reserve | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| 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 |
| NEW ZEALAND GOLF CLUB LTD (REGISTERED NUMBER: 00098139) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 May 2024 |
| 1. | STATUTORY INFORMATION |
| New Zealand Golf Club Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Grants |
| Incoming grants are included in the accounts when they are received |
| Tangible fixed assets |
| Land and buildings are shown at original historical cost or subsequent valuation. Property additions since the last revaluation and plant and equipment are stated at cost. Refurbishment expenditure on the freehold properties is written off in the year it is incurred. |
| Depreciation is provided at rates calculated to write off the cost or valuation of the fixed assets on a straight line basis over their estimated useful lives as follows: |
| Freehold property 50 years (2% per annum) |
| Plant and implements 5 years (20% per annum) |
| Furniture, equipment and outbuildings 10 years (10% per annum) |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value. |
| Taxation |
| Corporation tax has been provided on taxable income at the current rate in force. |
| Pension |
| Pension contributions are charged to the profit and loss account so as to spread the cost of the pensions over the employees' working lives with the company. These contributions are invested separately from the company's assets. |
| Artisans subscriptions |
| Subscriptions for Artisans cover the calendar year and are included in the income of the club on the basis of the club's year. In previous years it was recognised on a receipts basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| NEW ZEALAND GOLF CLUB LTD (REGISTERED NUMBER: 00098139) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Course | Plant and | and |
| property | Improvements | machinery | fittings | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 June 2023 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 May 2024 |
| DEPRECIATION |
| At 1 June 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 May 2024 |
| NET BOOK VALUE |
| At 31 May 2024 |
| At 31 May 2023 |
| 5. | STOCKS |
| Stocks comprise the following: |
| 2024 | 2023 |
| £ | £ |
| Bar stock | 25,248 | 36,038 |
| Catering stock | 6,125 | 4,841 |
| Proshop | 42,485 | 33,727 |
| Other | 1,000 | 1,000 |
| 75,858 | 75,606 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| Club master | 35,977 | 61,437 |
| Prepayments and accrued income |
| NEW ZEALAND GOLF CLUB LTD (REGISTERED NUMBER: 00098139) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| VAT | 9,810 | 16,031 |
| Other creditors |
| Dick Hollins Trust | 16,485 | 16,485 |
| Accruals and deferred income |
| Deferred subscriptions |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 46,748 | 46,303 |
| Deferred Non Voting | £1 | 555 | 2,000 |
| 47,303 | 48,303 |
| 1,000 Ordinary shares of £1 each were allotted and fully paid for |
| 2024 | 2023 |
| £ | £ |
| Authorised Share Capital |
| Shares of £1 each | 52,000 | 52,000 |
| During the year 1,000 new Ordinary shares were issued and 555 Ordinary shares were converted to Deferred Non Voting shares. At the next Annual General Meeting a resolution will be proposed to buy back these 555 Deferred Non Voting shares. At the previous Annual General Meeting a resolution was passed to buy back 2,000 Deferred Non Voting shares. |
| 9. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 June 2023 | 1,527,975 |
| Profit for the year |
| Purchase of own shares | (555 | ) | 555 | - |
| Cancellation of deferred share | 2,000 | - | 2,000 |
| At 31 May 2024 | 1,552,018 |
| NEW ZEALAND GOLF CLUB LTD (REGISTERED NUMBER: 00098139) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2024 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditor was unqualified. |
| for and on behalf of |