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REGISTERED NUMBER: 00998420 (England and Wales)












ROMSEY GOLF CLUB LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






ROMSEY GOLF CLUB LIMITED (REGISTERED NUMBER: 00998420)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ROMSEY GOLF CLUB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: M S Cole
K M Squibb
S P Marsh-Collis
J Ward
D Ridolfo





SECRETARY: M S Cole





REGISTERED OFFICE: Romsey Road
Nursling
Southampton
Hampshire
SO16 0XW





REGISTERED NUMBER: 00998420 (England and Wales)





AUDITORS: Hopper Williams & Bell Limited
Statutory Auditor
Highland House
Mayflower Close
Chandler's Ford
Eastleigh
Hampshire
SO53 4AR

ROMSEY GOLF CLUB LIMITED (REGISTERED NUMBER: 00998420)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 146,172 171,457

CURRENT ASSETS
Stocks 20,299 18,053
Debtors 5 50,037 48,121
Cash at bank and in hand 368,471 378,982
438,807 445,156
CREDITORS
Amounts falling due within one year 6 (413,898 ) (432,742 )
NET CURRENT ASSETS 24,909 12,414
TOTAL ASSETS LESS CURRENT
LIABILITIES

171,081

183,871

CREDITORS
Amounts falling due after more than one
year

7

(21,429

)

(38,985

)

PROVISIONS FOR LIABILITIES (3,446 ) (4,337 )
NET ASSETS 146,206 140,549

RESERVES
Income and expenditure account 146,206 140,549
146,206 140,549

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 15 January 2025 and were signed on its behalf by:





M S Cole - Director


ROMSEY GOLF CLUB LIMITED (REGISTERED NUMBER: 00998420)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Romsey 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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

Membership subscriptions, green fee, facility hire, and event income are accounted for on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - Straight line over 10 years and Over the length of the lease
Plant and machinery - Straight line over 10 years and Over the length of the lease
Fixtures and fittings - Straight line over 4 years and Over the length of the lease

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Change in accounting estimate
During the year, the members elected to change the depreciation rates adopted by the company following a review of the useful economic life of the assets included in its balance sheet.

As a result of this change, the depreciation charge in the current year has decreased by a total of £24,073 to reflect the anticipated longer useful lives of the assets.

Stocks
Stocks are valued at the lower of cost and selling price less costs to sell, after making due allowance for obsolete and slow moving items.


ROMSEY GOLF CLUB LIMITED (REGISTERED NUMBER: 00998420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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 and deferred taxation assets and liabilities are not discounted.

Current and deferred 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.

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.

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

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

Basic financial assets, which include trade and other receivables 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 28 ) .

ROMSEY GOLF CLUB LIMITED (REGISTERED NUMBER: 00998420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
property machinery fittings Totals
£ £ £ £
COST
At 1 October 2023 553,649 420,272 170,609 1,144,530
Additions 8,214 - 2,466 10,680
Disposals - (25,750 ) - (25,750 )
At 30 September 2024 561,863 394,522 173,075 1,129,460
DEPRECIATION
At 1 October 2023 488,637 386,916 97,520 973,073
Charge for year 9,182 9,780 17,003 35,965
Eliminated on disposal - (25,750 ) - (25,750 )
At 30 September 2024 497,819 370,946 114,523 983,288
NET BOOK VALUE
At 30 September 2024 64,044 23,576 58,552 146,172
At 30 September 2023 65,012 33,356 73,089 171,457

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 15,952 16,460
Other debtors 34,085 31,661
50,037 48,121

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 32,342 36,165
Taxation and social security 16,735 15,124
Other creditors 354,821 371,453
413,898 432,742

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 9,076 19,150
Other creditors 12,353 19,835
21,429 38,985

ROMSEY GOLF CLUB LIMITED (REGISTERED NUMBER: 00998420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 40,358 40,358
Between one and five years 159,032 160,281
In more than five years 48,885 88,384
248,275 289,023

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

The Report of the Auditors was unqualified.

James Flood FCA (Senior Statutory Auditor)
for and on behalf of Hopper Williams & Bell Limited

10. CAPITAL

The company is incorporated as a company limited by guarantee and not having share capital. Every member of the Club undertakes to contribute to the assets in the event of the same being wound up during the time he/she is a member or within one year afterwards, for the payment of debts and liabilities of the Club contracted before the time he/she ceases to be a member, and the cost, charges and expenses of winding up of the same, and for the adjustment of the rights of the contributories amongst themselves, such as may be required not exceeding £10.