Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-312023-06-01falseNo description of principal activity1716falsetruefalse 00357040 2023-06-01 2024-05-31 00357040 2022-06-01 2023-05-31 00357040 2024-05-31 00357040 2023-05-31 00357040 c:Director11 2023-06-01 2024-05-31 00357040 d:Buildings d:LongLeaseholdAssets 2023-06-01 2024-05-31 00357040 d:Buildings d:LongLeaseholdAssets 2024-05-31 00357040 d:Buildings d:LongLeaseholdAssets 2023-05-31 00357040 d:Buildings d:ShortLeaseholdAssets 2023-06-01 2024-05-31 00357040 d:Buildings d:ShortLeaseholdAssets 2024-05-31 00357040 d:Buildings d:ShortLeaseholdAssets 2023-05-31 00357040 d:PlantMachinery 2023-06-01 2024-05-31 00357040 d:PlantMachinery 2024-05-31 00357040 d:PlantMachinery 2023-05-31 00357040 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 00357040 d:FurnitureFittings 2023-06-01 2024-05-31 00357040 d:FurnitureFittings 2024-05-31 00357040 d:FurnitureFittings 2023-05-31 00357040 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 00357040 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 00357040 d:CurrentFinancialInstruments 2024-05-31 00357040 d:CurrentFinancialInstruments 2023-05-31 00357040 d:Non-currentFinancialInstruments 2024-05-31 00357040 d:Non-currentFinancialInstruments 2023-05-31 00357040 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 00357040 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 00357040 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 00357040 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 00357040 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 00357040 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 00357040 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-05-31 00357040 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 00357040 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-05-31 00357040 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-05-31 00357040 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 00357040 d:RetainedEarningsAccumulatedLosses 2024-05-31 00357040 d:RetainedEarningsAccumulatedLosses 2023-05-31 00357040 c:FRS102 2023-06-01 2024-05-31 00357040 c:Audited 2023-06-01 2024-05-31 00357040 c:FullAccounts 2023-06-01 2024-05-31 00357040 c:CompanyLimitedByGuarantee 2023-06-01 2024-05-31 00357040 d:HirePurchaseContracts d:WithinOneYear 2024-05-31 00357040 d:HirePurchaseContracts d:WithinOneYear 2023-05-31 00357040 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-05-31 00357040 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-05-31 00357040 d:HirePurchaseContracts d:MoreThanFiveYears 2024-05-31 00357040 d:HirePurchaseContracts d:MoreThanFiveYears 2023-05-31 00357040 c:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 00357040 2 2023-06-01 2024-05-31 00357040 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 00357040









SHIRLEY PARK GOLF CLUB LIMITED
(A Company Limited by Guarantee)









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
SHIRLEY PARK GOLF CLUB LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 00357040

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,431,330
1,463,640

  
1,431,330
1,463,640

Current assets
  

Stocks
 5 
33,298
23,429

Debtors: amounts falling due within one year
 6 
55,371
124,588

Cash at bank and in hand
 7 
244,775
317,360

  
333,444
465,377

Creditors: amounts falling due within one year
 8 
(654,423)
(720,270)

Net current liabilities
  
 
 
(320,979)
 
 
(254,893)

Total assets less current liabilities
  
1,110,351
1,208,747

Creditors: amounts falling due after more than one year
 9 
(516,623)
(578,550)

  

Net assets
  
593,728
630,197


Capital and reserves
  

Profit and loss account
 12 
593,728
630,197

  
593,728
630,197


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 comprehensive income 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: 




................................................
Simon Willmett (Finance)
Page 1

 
SHIRLEY PARK GOLF CLUB LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 00357040
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

Director

Date: 26 February 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SHIRLEY PARK 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, registered in England and Wales. The address of the registered office is Addiscombe Road, Croydon, CR0 7LB, United Kingdom.
The principal activity of the company is that of golf and related services. 

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. Notwithstanding the net current liabilities of £320,979 (2023: £254,893), the Board of Directors believe that the company will continue in operational existence for the forseeable future and meet its liabilities as they fall due for a period no less than 12 months following the approval of the financial statements.
The Board of Directors believe that with cash inflows from operational activities and current financing, that the company will be able to meet its liabilities as they fall due.
As such, the directors consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue represents membership subscriptions, green fees and locker rents receivable plus bar sales, snooker and miscellaneous receipts, excluding value added tax. 

 
2.4

Operating leases: the Company as lessee

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.

Page 3

 
SHIRLEY PARK GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Leased assets: the Company as lessee

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 company. 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 profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.6

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 Comprehensive Income in the same period as the related expenditure.

 
2.7

Interest income

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

 
2.8

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.

 
2.9

Borrowing costs

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

 
2.10

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 4

 
SHIRLEY PARK GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.10
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:

Long-term leasehold property
-
over the remaining term of lease or 50 years
Leasehold improvements
-
10 to 15 years straight line
Plant and machinery
-
5 to 10 years straight line
Fixtures, fittings and equipment
-
5 to 10 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.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

 
2.13

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.

 
2.14

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.

Page 5

 
SHIRLEY PARK 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 as follows:


        2024
        2023
            No.
            No.







Average employees
17
16


4.


Tangible fixed assets





Long-term leasehold property
Leasehold improvements
Plant and machinery
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
1,345,368
806,583
555,147
345,101
3,052,199


Additions
-
11,828
28,731
3,526
44,085


Disposals
-
-
(75,302)
-
(75,302)



At 31 May 2024

1,345,368
818,411
508,576
348,627
3,020,982



Depreciation


At 1 June 2023
208,735
644,155
426,878
308,791
1,588,559


Charge for the year on owned assets
13,323
26,954
27,083
9,035
76,395


Disposals
-
-
(75,302)
-
(75,302)



At 31 May 2024

222,058
671,109
378,659
317,826
1,589,652



Net book value



At 31 May 2024
1,123,310
147,302
129,917
30,801
1,431,330



At 31 May 2023
1,136,633
162,428
128,269
36,310
1,463,640

Page 6

 
SHIRLEY PARK 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, course and miscellaneous stock
33,298
23,429



6.


Debtors

2024
2023
£
£


Trade debtors
6,086
15,858

Other debtors
32,038
98,699

Prepayments and accrued income
17,247
10,031

55,371
124,588



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
244,775
317,360



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Loan stock
4,077
4,685

Bank loans
54,546
61,364

Trade creditors
52,949
123,020

Other taxation and social security
10,765
4,477

Obligations under finance lease and hire purchase contracts
25,392
30,780

Other creditors
40,222
29,572

Accruals and deferred income
466,472
466,372

654,423
720,270


Page 7

 
SHIRLEY PARK GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Loan stock
77,472
89,004

Bank loans
402,084
447,675

Net obligations under finance leases and hire purchase contracts
37,067
41,871

516,623
578,550





Details of security provided:

The bank loan is secured by a legal charge over the leasehold property known as Shirley Park Golf Club, 194 Addiscombe Road, Croydon.
Assets held under finance lease and hire purchase contracts are secured on the assets under lease. 

Page 8

 
SHIRLEY PARK GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
54,546
61,364

Loan stock
4,077
4,685


58,623
66,049

Amounts falling due 1-2 years

Bank loans
48,758
55,278

Loan stock
4,077
4,684


52,835
59,962

Amounts falling due 2-5 years

Bank loans
201,611
211,536

Loan stock
73,394
14,053


275,005
225,589

Amounts falling due after more than 5 years

Bank loans
151,715
180,861

Loan stock
-
70,267

151,715
251,128

538,178
602,728


Included in bank loans are three separate facilities, two of which are due for repayment after more than 5 years.
The facility amounting to £341,550 (2023: £384,043) is repayable over equal installments and due for repayment in May 2030, The interest rate on the facility is 1.65% + LIBOR. 
Loan stock of £81,549 (2023: £93,689) are issued to Members and entitles the Member to a discount on Member subscriptions. The loan stock is being redeemed evenly over a period of 20 years commencing 1 July 2008.

Page 9

 
SHIRLEY PARK GOLF CLUB LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
25,391
30,779

Between 1-5 years
16,632
20,798

Over 5 years
20,435
21,074

62,458
72,651


12.


Reserves

Profit and loss account

This reserve records the retained earnings and accumulated profits.  



13.


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 £10 towards the assets of the company in the event of liquidation.


14.


Controlling party

In the view of the directors, there is no ultimate controlling party. 


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 May 2024 was unqualified.

The audit report was signed on 26 February 2025 by Samuel Hodson BSc ACA (Senior Statutory Auditor) on behalf of Hillier Hopkins LLP.

Page 10