Registered number
00666014
Kibworth Golf Club Limited
Unaudited Filleted Accounts
30 September 2024
Kibworth Golf Club Limited
Registered number: 00666014
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 777,191 797,766
Current assets
Stocks 8,722 10,173
Debtors 4 28,864 28,146
Cash at bank and in hand 392,218 379,926
429,804 418,245
Creditors: amounts falling due within one year 5 (435,942) (417,035)
Net current (liabilities)/assets (6,138) 1,210
Total assets less current liabilities 771,053 798,976
Creditors: amounts falling due after more than one year 6 (125,899) (158,019)
Net assets 645,154 640,957
Capital and reserves
Profit and loss account 645,154 640,957
Shareholder's funds 645,154 640,957
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr N J I Driver Mr A Rodi
Director Director
Approved by the board on 16 January 2025
Kibworth Golf Club Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of golf related services and is recognised in the period to which it relates.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold land no depreciation
Freehold buildings over 50 years
Car park over 15 years
Course construction over 20 years
Plant and machinery over 8 years
Fixtures, fittings and equipment over 5 years
Computer equipment over 3 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 24 24
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 1,237,115 1,042,843 2,279,958
Additions 72,384 17,410 89,794
At 30 September 2024 1,309,499 1,060,253 2,369,752
Depreciation
At 1 October 2023 788,542 693,650 1,482,192
Charge for the year 34,786 75,583 110,369
At 30 September 2024 823,328 769,233 1,592,561
Net book value
At 30 September 2024 486,171 291,020 777,191
At 30 September 2023 448,573 349,193 797,766
4 Debtors 2024 2023
£ £
Trade debtors 23,917 20,376
Other debtors 4,947 7,770
28,864 28,146
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 58,243 51,620
Trade creditors 31,856 37,168
Taxation and social security costs 25,270 25,305
Other creditors 320,573 302,942
435,942 417,035
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 72,499 104,519
Other creditors 53,400 53,500
125,899 158,019
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 53,400 53,500
The above amount relates to members debenture loans. These are interest free loans.
Secured creditors 130,742 156,139
The secured creditors relate to hire purchase contracts. The contracts are secured on the assets to which they relate.
8 Other information
Kibworth Golf Club Limited is a private company limited by guarantee and incorporated in England. Its registered office is:
The Club House
Weir Road
Kibworth Beauchamp
Leicestershire
LE8 0LP
The company has no share capital and consequently the liability of the members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up, such amounts as may be required, but not exceeding £0.25.
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