Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-3114154true232023-06-01falseNo description of principal activity25trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10059865 2023-06-01 2024-05-31 10059865 2022-06-01 2023-05-31 10059865 2024-05-31 10059865 2023-05-31 10059865 c:Director1 2023-06-01 2024-05-31 10059865 d:Buildings 2023-06-01 2024-05-31 10059865 d:Buildings 2024-05-31 10059865 d:Buildings 2023-05-31 10059865 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10059865 d:Buildings d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 10059865 d:Buildings d:LongLeaseholdAssets 2023-06-01 2024-05-31 10059865 d:Buildings d:LongLeaseholdAssets 2024-05-31 10059865 d:Buildings d:LongLeaseholdAssets 2023-05-31 10059865 d:Buildings d:ShortLeaseholdAssets 2023-06-01 2024-05-31 10059865 d:PlantMachinery 2023-06-01 2024-05-31 10059865 d:PlantMachinery 2024-05-31 10059865 d:PlantMachinery 2023-05-31 10059865 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10059865 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 10059865 d:FurnitureFittings 2023-06-01 2024-05-31 10059865 d:FurnitureFittings 2024-05-31 10059865 d:FurnitureFittings 2023-05-31 10059865 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10059865 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 10059865 d:OfficeEquipment 2023-06-01 2024-05-31 10059865 d:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 10059865 d:OtherPropertyPlantEquipment 2024-05-31 10059865 d:OtherPropertyPlantEquipment 2023-05-31 10059865 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10059865 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 10059865 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10059865 d:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 10059865 d:CurrentFinancialInstruments 2024-05-31 10059865 d:CurrentFinancialInstruments 2023-05-31 10059865 d:Non-currentFinancialInstruments 2024-05-31 10059865 d:Non-currentFinancialInstruments 2023-05-31 10059865 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 10059865 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10059865 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 10059865 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 10059865 d:ForeignCurrencyTranslationReserve 2024-05-31 10059865 d:ForeignCurrencyTranslationReserve 2023-05-31 10059865 d:OtherMiscellaneousReserve 2024-05-31 10059865 d:OtherMiscellaneousReserve 2023-05-31 10059865 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 10059865 d:RetainedEarningsAccumulatedLosses 2024-05-31 10059865 d:RetainedEarningsAccumulatedLosses 2023-05-31 10059865 c:FRS102 2023-06-01 2024-05-31 10059865 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10059865 c:FullAccounts 2023-06-01 2024-05-31 10059865 c:CompanyLimitedByGuarantee 2023-06-01 2024-05-31 10059865 2 2023-06-01 2024-05-31 10059865 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 10059865










CHOBHAM GOLF CLUB LIMITED
(A company limited by guarantee)








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
CHOBHAM GOLF CLUB LIMITED
  
(A company limited by guarantee)
REGISTERED NUMBER:10059865

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,455,871
2,445,762

Current assets
  

Stocks
 5 
36,648
28,343

Debtors: amounts falling due within one year
 6 
40,433
44,359

Cash at bank and in hand
  
533,313
620,437

  
610,394
693,139

Creditors: amounts falling due within one year
 7 
(843,544)
(791,165)

Net current liabilities
  
 
 
(233,150)
 
 
(98,026)

Total assets less current liabilities
  
2,222,721
2,347,736

Creditors: amounts falling due after more than one year
 8 
(339,684)
(435,395)

  

Net assets
  
1,883,037
1,912,341


Capital and reserves
  

Capital Contribution
 9 
1,217,992
1,217,992

Members Advance Equity reserve
 9 
463,145
463,145

Profit and loss account
 9 
201,900
231,204

  
1,883,037
1,912,341


Page 1

 
CHOBHAM GOLF CLUB LIMITED
  
(A company limited by guarantee)
REGISTERED NUMBER:10059865
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
I Oswin
Director

Date: 16 February 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
CHOBHAM GOLF CLUB LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

The company is a private company limited by guarantee, incorporated in England and Wales. The registered office is Chobham Golf Club, Chobham road, Knaphill, Surrey GU21 2TZ and the registered number is 10059865.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue comprises income recognised by the Company in respect of goods and services supplied during the year, exclusive of VAT and trade discounts.
Revenue is recognised as follows:
• Subscription income is spread equally over the subscription period;
• Green fee income is recognised when the round of golf has been played
• Other income is recognised when the service has been provided or goods despatched.

 
2.3

Tangible fixed assets

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.

Page 3

 
CHOBHAM GOLF CLUB LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Course
-
Over the term of the lease
Clubhouse and outbuildings
-
Over the term of the lease
Solar panels (included in clubhouse)
-
Over 25 years straight line
Plant and machinery
-
Equipment, furniture and fittings
-
20-30% Straight line
Irrigation system
-
10% straight line
Greenkeeper shed
-
Over 25 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stock.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the
Page 4

 
CHOBHAM GOLF CLUB LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 5

 
CHOBHAM GOLF CLUB LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.11

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

  
2.12

Leasing and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Club. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Income and expenditure account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.15

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.16

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 6

 
CHOBHAM GOLF CLUB LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees

The average monthly number of employees during the year was 23 (2023 - 25).

Page 7

 
CHOBHAM GOLF CLUB LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Clubhouse & outbuildings
Course
Irrigation system
Equipment, fixtures & fittings
Green keeper shed

£
£
£
£
£



Cost or valuation


At 1 June 2023
733,629
1,160,394
393,091
431,409
251,884


Additions
-
-
16,886
113,380
-


Disposals
-
-
-
(2,750)
-



At 31 May 2024

733,629
1,160,394
409,977
542,039
251,884



Depreciation


At 1 June 2023
57,420
97,757
3,090
326,159
40,219


Charge for the year on owned assets
10,781
14,154
4,284
27,074
10,421


Charge for the year on financed assets
-
-
36,732
16,619
-


Disposals
-
-
-
(2,658)
-



At 31 May 2024

68,201
111,911
44,106
367,194
50,640



Net book value



At 31 May 2024
665,428
1,048,483
365,871
174,845
201,244



At 31 May 2023
676,209
1,062,637
390,001
105,250
211,665
Page 8

 
CHOBHAM GOLF CLUB LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 June 2023
2,970,407


Additions
130,266


Disposals
(2,750)



At 31 May 2024

3,097,923



Depreciation


At 1 June 2023
524,645


Charge for the year on owned assets
66,714


Charge for the year on financed assets
53,351


Disposals
(2,658)



At 31 May 2024

642,052



Net book value



At 31 May 2024
2,455,871



At 31 May 2023
2,445,762

The net book value of tangible fixed assets includes an amount of £41,742 (2023: £33,850) equipment, fixtures & fittings, and £328,238 (2023: £365,050) assets under clubhouse & outbuildings,  in respect of assets held under finance lease and hire purchase contract.

Page 9

 
CHOBHAM GOLF CLUB LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Stocks

2024
2023
£
£

Bar & catering stocks
17,338
16,360

Golf course consumables
19,310
11,983

36,648
28,343



6.


Debtors

2024
2023
£
£


Trade debtors
8,831
9,742

Other debtors
31,602
34,617

40,433
44,359



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Coronavirus business interruption loan
-
20,000

Loan notes
1,000
12,000

Subscriptions received in advance
535,752
454,304

Trade creditors
72,840
93,597

Other taxation and social security
48,065
34,723

Obligations under finance lease and hire purchase contracts
54,138
51,574

Other creditors
108,201
103,573

Accruals
23,548
21,394

843,544
791,165


Page 10

 
CHOBHAM GOLF CLUB LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Coronavirus business interruption loan
-
41,667

Loan notes
133,250
150,750

Net obligations under finance leases and hire purchase contracts
206,434
242,978

339,684
435,395


The coronavirus business interruption loan was obtained in June 2020 with the first repayment payable in July 2021.  Interest is payable at 2.81% per annum over the Bank's base rate and was paid by the Government for the first 12 months of the loan.  The loan is required to be repaid in full by 30 June 2026.
The Golf Club fully repaid the CBIL loan of £61,667 in July 2023.
The loan notes are repayable in April following notice from the holder received by 1 January in any year, subject to a maximum repayment of £10,000 in any one year. If the holder ceases to be a member of the club then repayment shall be made within 6 months and the maximum repayment in any one year is then increased to £15,000.
The holders receive a discount on their subscription equal to 2% over the Bank of England base rate on their oustanding loan note and can invite 5 guests to play at the club free of charge per annum.
The obligations under finance leases and hire purchase contracts are secured on the underlying assets. 


9.


Reserves

Capital contribution
Historical reserves from the unincorporated golf club contributed upon incorporation.
Members Advances Equity reserve
Historical Member Advances from the unincorporated golf club contributed upon incorporation.

Profit and loss account

Net cumulative profits and losses net of other adjustments.





10.


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 £1 towards the assets of the company in the event of liquidation.

 
Page 11