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REGISTERED NUMBER: 00567582 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

WALMLEY GOLF CLUB (WYLDE GREEN)
LIMITED(THE)

WALMLEY GOLF CLUB (WYLDE GREEN)
LIMITED(THE) (REGISTERED NUMBER: 00567582)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WALMLEY GOLF CLUB (WYLDE GREEN)
LIMITED(THE)

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: S C Bostock
S J Morley
M J R Brown
S Ward
T Biggs-Hayes





REGISTERED OFFICE: Walmley Golf Club (Wylde Green) Limited
Brooks Road
Wylde Green
Sutton Coldfield
Warwickshire
B72 1HR





REGISTERED NUMBER: 00567582 (England and Wales)





AUDITORS: Haslehursts
88 Hill Village Road
Four Oaks
Sutton Coldfield
West Midlands
B75 5BE

WALMLEY GOLF CLUB (WYLDE GREEN)
LIMITED(THE) (REGISTERED NUMBER: 00567582)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,897,993 1,974,723

CURRENT ASSETS
Stocks 8,716 9,242
Debtors 5 71,779 63,328
Cash at bank 636,596 427,314
717,091 499,884
CREDITORS
Amounts falling due within one year 6 873,937 618,455
NET CURRENT LIABILITIES (156,846 ) (118,571 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,741,147

1,856,152

CREDITORS
Amounts falling due after more than
one year

7

963,390

1,069,151
NET ASSETS 777,757 787,001

RESERVES
Building fund 10 662,273 606,474
Income and expenditure account 10 115,484 180,527
777,757 787,001

WALMLEY GOLF CLUB (WYLDE GREEN)
LIMITED(THE) (REGISTERED NUMBER: 00567582)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 February 2025 and were signed on its behalf by:





S Ward - Director


WALMLEY GOLF CLUB (WYLDE GREEN)
LIMITED(THE) (REGISTERED NUMBER: 00567582)

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


1. STATUTORY INFORMATION

Walmley Golf Club (Wylde Green) Limited(The) 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

Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below

Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company is subject to partial exemption.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 15 - 25% straight line

WALMLEY GOLF CLUB (WYLDE GREEN)
LIMITED(THE) (REGISTERED NUMBER: 00567582)

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


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss

Financial instruments
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 instruments are recognised in the company's balance sheet 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

WALMLEY GOLF CLUB (WYLDE GREEN)
LIMITED(THE) (REGISTERED NUMBER: 00567582)

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


2. ACCOUNTING POLICIES - continued

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.

Taxation
Corporation tax is due on certain supplies to non members and is measured at the amounts of tax expected to the payable using the tax rates and laws that have been exacted or substantially exacted at the reporting date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

WALMLEY GOLF CLUB (WYLDE GREEN)
LIMITED(THE) (REGISTERED NUMBER: 00567582)

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


2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Building fund transfer
In order to repay the bank loan and the members' loans, the element of subscriptions relating to the 8%, 7% and 7% subscription increases in 2021, 2022 and 2023 would be earmarked each year for up to 15 years as part of the transfer to the building fund and all loan interest and capital repayments would be made from that fund until all loans from the bank and members were extinguished. Any other benefits and costs related to the building fund i.e. interest earned, bank charges paid or donations to the fund, would be earmarked for the Building Fund and not be used to fund the operational needs of the Club.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

WALMLEY GOLF CLUB (WYLDE GREEN)
LIMITED(THE) (REGISTERED NUMBER: 00567582)

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


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 October 2023 1,741,386 1,123,180 2,864,566
Additions 7,518 9,141 16,659
Disposals - (41,918 ) (41,918 )
At 30 September 2024 1,748,904 1,090,403 2,839,307
DEPRECIATION
At 1 October 2023 31,098 858,745 889,843
Charge for year 34,976 58,413 93,389
Eliminated on disposal - (41,918 ) (41,918 )
At 30 September 2024 66,074 875,240 941,314
NET BOOK VALUE
At 30 September 2024 1,682,830 215,163 1,897,993
At 30 September 2023 1,710,288 264,435 1,974,723

WALMLEY GOLF CLUB (WYLDE GREEN)
LIMITED(THE) (REGISTERED NUMBER: 00567582)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 October 2023
and 30 September 2024 9,500
DEPRECIATION
At 1 October 2023 792
Charge for year 950
At 30 September 2024 1,742
NET BOOK VALUE
At 30 September 2024 7,758
At 30 September 2023 8,708

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,801 5,071
Other debtors 66,978 58,257
71,779 63,328

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 24,616 57,005
Hire purchase contracts (see note 8)
2,090

27,079
Trade creditors 64,346 82,629
Taxation and social security 19,868 24,337
Other creditors 763,017 427,405
873,937 618,455

WALMLEY GOLF CLUB (WYLDE GREEN)
LIMITED(THE) (REGISTERED NUMBER: 00567582)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 457,120 447,052
Hire purchase contracts (see note 8)
6,270

6,099
Other creditors 500,000 616,000
963,390 1,069,151

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 2,090 27,079
Between one and five years 6,270 6,099
8,360 33,178

Non-cancellable operating leases
2024 2023
£    £   
Within one year 69,705 67,645
Between one and five years 85,768 144,282
In more than five years 4,496 8,992
159,969 220,919

WALMLEY GOLF CLUB (WYLDE GREEN)
LIMITED(THE) (REGISTERED NUMBER: 00567582)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 481,736 504,057
Hire purchase contracts 8,360 33,178
490,096 537,235

The bank loans are secured by a fixed and floating charge over the assets of the company.

Amounts due under finance leases and hire purchase contracts are secured against the assets which they relate to.

10. RESERVES
Income
and
expenditure Building
account fund Totals
£    £    £   

At 1 October 2023 180,527 606,474 787,001
Deficit for the year (65,043 ) (65,043 )
Building fund transfer - 55,799 55,799
At 30 September 2024 115,484 662,273 777,757

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

The Report of the Auditors was unqualified.

Stuart Penfold (Senior Statutory Auditor)
for and on behalf of Haslehursts

12. MEMBERS' LIABILITY

The company is limited by guarantee, not having a share capital and consequently the liability of 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 not exceeding £10.