Company registration number 10154335 (England and Wales)
STRATFORD OAKS GOLF CLUB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
STRATFORD OAKS GOLF CLUB LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
STRATFORD OAKS GOLF CLUB LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
188,130
163,697
Investments
4
2
2
188,132
163,699
Current assets
Stocks
10,446
4,755
Debtors
5
162,033
183,242
Cash at bank and in hand
327,915
184,999
500,394
372,996
Creditors: amounts falling due within one year
6
(193,481)
(141,112)
Net current assets
306,913
231,884
Total assets less current liabilities
495,045
395,583
Creditors: amounts falling due after more than one year
7
(344,581)
(283,169)
Net assets
150,464
112,414
Reserves
Income and expenditure account
150,464
112,414
Members' funds
150,464
112,414
STRATFORD OAKS GOLF CLUB LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 10 October 2024 and are signed on its behalf by:
Mrs G Beaumont
Mr A E Waterfall
Director
Director
Company registration number 10154335 (England and Wales)
STRATFORD OAKS GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Stratford Oaks Golf Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Stratford Oaks Golf Course, Bearley Road, Snitterfield, Stratford-Upon-Avon, Warwickshire, CV37 0EZ.

1.1
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.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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 cannot reclaim it.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

STRATFORD OAKS GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings
Straight line over 4 years
Plant and equipment
Straight line over 2 to 10 years
Fixtures and fittings
Straight line over 5 years
Office equipment
Straight line over 5 years

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 credited or charged to surplus or deficit.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in surplus or deficit.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
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.

1.7
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.9
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.

STRATFORD OAKS GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include 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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, 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.

1.10
Taxation

The Company is registered as a Community Amateur Sports Club and therefore is eligible to take advantage of various exemptions from corporation tax.

1.11
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.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

STRATFORD OAKS GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 6 -
1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
9
STRATFORD OAKS GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023
15,533
264,418
279,951
Additions
233
69,201
69,434
Disposals
-
0
(5,856)
(5,856)
At 30 June 2024
15,766
327,763
343,529
Depreciation and impairment
At 1 July 2023
15,533
100,721
116,254
Depreciation charged in the year
-
0
44,863
44,863
Eliminated in respect of disposals
-
0
(5,718)
(5,718)
At 30 June 2024
15,533
139,866
155,399
Carrying amount
At 30 June 2024
233
187,897
188,130
At 30 June 2023
-
0
163,697
163,697
4
Fixed asset investments
2024
2023
£
£
Shares in group undertaking
2
2
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
147,669
168,266
Other debtors
6,204
5,796
153,873
174,062
STRATFORD OAKS GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
5
Debtors
(Continued)
- 8 -
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
8,160
9,180
Total debtors
162,033
183,242
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
21,893
13,812
Taxation and social security
3,399
3,468
Other creditors
158,189
113,832
193,481
141,112
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
17,500
27,500
Other creditors
327,081
255,669
344,581
283,169
8
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.

9
Financial commitments, guarantees and contingent liabilities

The total amount of commitments, guarantees and contingencies is £1,529,766 (2023: £1,609,334).

STRATFORD OAKS GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 9 -
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
114,928
158,041
11
Related party transactions

The company has taken advantage of the exemption available in FRS 102 1A whereby it has not disclosed transactions with the wholly owned subsidiary undertaking of the group.

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