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REGISTERED NUMBER: 00241241 (England and Wales)
















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

CALCOT GOLF CLUB LIMITED

CALCOT GOLF CLUB LIMITED (REGISTERED NUMBER: 00241241)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CALCOT GOLF CLUB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: S W Brooker
D Sullivan
Mrs L M Turner
P F Kowalik
A D Hearn
L C Wicks
R R Tedstone
M P Bold





REGISTERED OFFICE: The Club House
Calcot Park Golf Club
Calcot
Reading
Berkshire
RG31 7RN





REGISTERED NUMBER: 00241241 (England and Wales)

CALCOT GOLF CLUB LIMITED (REGISTERED NUMBER: 00241241)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 613,882 638,225
Investment property 5 1,404,750 1,240,000
2,018,632 1,878,225

CURRENT ASSETS
Stocks 35,810 41,331
Debtors 6 49,106 54,571
Cash at bank and in hand 678,265 618,711
763,181 714,613
CREDITORS
Amounts falling due within one year 7 1,098,285 892,973
NET CURRENT LIABILITIES (335,104 ) (178,360 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,683,528

1,699,865

PROVISIONS FOR LIABILITIES 293,584 198,992
NET ASSETS 1,389,944 1,500,873

CAPITAL AND RESERVES
Called up share capital 105,001 105,001
Retained earnings 1,284,943 1,395,872
1,389,944 1,500,873

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 25 November 2024 and were signed on its behalf by:





S W Brooker - Director


CALCOT GOLF CLUB LIMITED (REGISTERED NUMBER: 00241241)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Calcot Golf Club Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparation of the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is derived from the provision of golf and ancillary facilities and represents membership entrance fees and subscription income receivable in respect of the year. Turnover from membership fees is initially deferred and subsequently recognised over the period that it relates.

Food, beverage and retail sales are made from the on-site restaurant and shop. The turnover is recognised as income at the time the sale is made, at invoice value excluding value added tax. Turnover also includes non-membership golf and leisure income (green fees, competition income and social income) which is also recognised at the time the sale is made.

Tangible fixed assets
Tangible fixed assets under the cost model, other than investment properties, 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.

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:

Freehold property - 4% Straight line
Machinery and equipment - 10-20% Straight line
Course improvements - 10% Straight line
Drainage system, fencing and nets - 10% Straight line
Sheds - 5-10% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted 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 the statement of comprehensive income.

CALCOT GOLF CLUB LIMITED (REGISTERED NUMBER: 00241241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of comprehensive income.

Stocks
Stocks are stated at the lower of cost and the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

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.

Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pensions
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 the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

CALCOT GOLF CLUB LIMITED (REGISTERED NUMBER: 00241241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Going concern
The Club meets all of its day to day working capital requirements from existing reserves. The Club's forecasts and projections, taking into account expected increases in membership numbers, as well as a reduction in expected capital expenditure and overheads, show that the Club should be able to operate well within the level of reserves held.

After making enquiries, the Directors have a reasonable expectation that the Club has adequate resources to continue in operation for the foreseeable future. The Club therefore continues to adopt the going concern basis in preparing its financial statements.

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.

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.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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.

Finance costs
Finance costs are charged to the statement of comprehensive income 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.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 34 ) .

CALCOT GOLF CLUB LIMITED (REGISTERED NUMBER: 00241241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Course
Sheds, improvements
Freehold machinery and
land and and sprinkler
buildings equipment system
£    £    £   
COST
At 1 June 2023 716,019 1,032,899 597,124
Additions 9,129 19,816 38,882
At 31 May 2024 725,148 1,052,715 636,006
DEPRECIATION
At 1 June 2023 592,677 845,216 339,995
Charge for year 10,120 31,791 41,095
At 31 May 2024 602,797 877,007 381,090
NET BOOK VALUE
At 31 May 2024 122,351 175,708 254,916
At 31 May 2023 123,342 187,683 257,129

Furniture,
fittings Drainage,
and fencing
equipment and nets Totals
£    £    £   
COST
At 1 June 2023 446,141 237,623 3,029,806
Additions 5,410 - 73,237
At 31 May 2024 451,551 237,623 3,103,043
DEPRECIATION
At 1 June 2023 426,857 186,836 2,391,581
Charge for year 4,284 10,290 97,580
At 31 May 2024 431,141 197,126 2,489,161
NET BOOK VALUE
At 31 May 2024 20,410 40,497 613,882
At 31 May 2023 19,284 50,787 638,225

CALCOT GOLF CLUB LIMITED (REGISTERED NUMBER: 00241241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 1,240,000
Revaluations 164,750
At 31 May 2024 1,404,750
NET BOOK VALUE
At 31 May 2024 1,404,750
At 31 May 2023 1,240,000

The initial cost of the properties was determined on a best estimate basis by the Directors. The estimate used the apportioned square footage of the properties.

The Directors have valued the properties at the Balance sheet date after requesting values from three local well-regarded estate agents and accounting for sale costs.

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2015 459,186
Valuation in 2016 90,000
Valuation in 2017 35,000
Valuation in 2022 590,000
Valuation in 2024 164,750
Cost 65,814
1,404,750

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 225 -
Other debtors 48,881 54,571
49,106 54,571

CALCOT GOLF CLUB LIMITED (REGISTERED NUMBER: 00241241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 8) 17,069 9,203
Payments received on account 626,922 402,549
Trade creditors 61,653 132,301
Taxation and social security 16,900 14,900
Other creditors 375,741 334,020
1,098,285 892,973

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 17,069 9,203

Non-cancellable operating leases
31.5.24 31.5.23
£    £   
Within one year 120,213 43,067
Between one and five years 351,445 35,167
471,658 78,234

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

The Report of the Auditors was unqualified.

Lee Gardner FCA (Senior Statutory Auditor)
for and on behalf of Vale & West Accountancy Services Limited