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REGISTERED NUMBER: SC031269 (Scotland)




















Longniddry Golf Club Limited

Financial Statements

for the Year Ended 30 November 2024






Longniddry Golf Club Limited (Registered number: SC031269)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Longniddry Golf Club Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: H Todd
A Ovens
K Macpherson
G Ford
C Luca
G Guiney
M P Rennie
E Nicoll


REGISTERED OFFICE: Clubhouse
Links Road
Longniddry
East Lothian
EH32 0NL


REGISTERED NUMBER: SC031269 (Scotland)


SENIOR STATUTORY AUDITOR: Mark Macefield


AUDITORS: Whitelaw Wells
Statutory Auditor
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT


BANKERS: The Royal Bank of Scotland
Haddington Branch
32 Court Street
Haddington
EH41 3NS


SOLICITORS: Lindsays WS
Caledonian Exchange
19A Canning Street
Edinburgh
United Kingdom
EH3 8HE

Longniddry Golf Club Limited (Registered number: SC031269)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 314,630 215,611
Investments 5 141,718 174,778
456,348 390,389

CURRENT ASSETS
Stocks 7,582 6,553
Debtors 6 9,235 18,430
Cash at bank 81,026 35,875
97,843 60,858
CREDITORS
Amounts falling due within one year 7 188,551 173,078
NET CURRENT LIABILITIES (90,708 ) (112,220 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

365,640

278,169

CREDITORS
Amounts falling due after more than
one year

8

(95,271

)

(51,781

)

PROVISIONS FOR LIABILITIES (27,761 ) (23,263 )
NET ASSETS 242,608 203,125

RESERVES
Income and expenditure account 242,608 203,125
242,608 203,125

Longniddry Golf Club Limited (Registered number: SC031269)

Balance Sheet - continued
30 November 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 6 March 2025 and were signed on its behalf by:





H Todd - Director


Longniddry Golf Club Limited (Registered number: SC031269)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

Basis of preparing 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.

Turnover
Turnover represents the gross income of the club exclusive of value added tax.

Subscriptions are non-refundable so therefore fully recognised when paid.

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

Clubhouse and course improvements - The shorter of the length of the lease and the asset's estimate useful life

Irrigation system - The shorter of the length of the lease and the asset's estimated useful life

Green, clubhouse and administrative equipment - straight line over 4-7 years

Leasehold - over the life of the lease which expires in 2036.

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 to surplus or deficit.

Assets under construction - To be depreciated in accordance with the appropriate policy once ready for use.

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

Longniddry Golf Club Limited (Registered number: SC031269)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

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.

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.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in surplus or deficit, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through surplus and deficit, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in surplus or deficit.

If there was a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment was reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised, The impairment reversal is recognised in surplus or deficit.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.


Longniddry Golf Club Limited (Registered number: SC031269)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as
reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's 'liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are
recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities.and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

Assets held under finance leases are recognised 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 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.

Rental income from operating losses is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 17 ) .

Longniddry Golf Club Limited (Registered number: SC031269)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 889,539
Additions 155,716
Disposals (7,995 )
At 30 November 2024 1,037,260
DEPRECIATION
At 1 December 2023 673,928
Charge for year 56,697
Eliminated on disposal (7,995 )
At 30 November 2024 722,630
NET BOOK VALUE
At 30 November 2024 314,630
At 30 November 2023 215,611

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2023 193,933
Additions 59,693
At 30 November 2024 253,626
DEPRECIATION
At 1 December 2023 131,742
Charge for year 19,110
At 30 November 2024 150,852
NET BOOK VALUE
At 30 November 2024 102,774
At 30 November 2023 62,191

Longniddry Golf Club Limited (Registered number: SC031269)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2023 174,778
Additions 6,307
Disposals (56,119 )
Share of profit/(loss) 16,752
At 30 November 2024 141,718
NET BOOK VALUE
At 30 November 2024 141,718
At 30 November 2023 174,778


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 9,235 18,430

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 23,728 26,032
Finance leases (see note 9) 37,816 36,455
Trade creditors 46,007 46,008
Taxation and social security 15,132 4,698
Other creditors 65,868 59,885
188,551 173,078

The bank overdraft is secured by a bond or floating charge over all assets of the company.

Included within bank loans above is a loan of £10,649 which is secured by a guarantee from the UK Government under the bounce back loan scheme.

Obligations under finance leases included above of £37,816 (2023 - £22,399) are secured against items of plant and machinery to which they relate which have a carrying value of £102,774 (2023 - £62,191).

Longniddry Golf Club Limited (Registered number: SC031269)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 5,774 15,436
Finance leases (see note 9) 89,497 17,281
Other creditors - 19,064
95,271 51,781

Included within bank loans above is a loan of £4,787 which is secured by a guarantee from the UK Government under the bounce back loan scheme.

Obligations under finance leases included above of £89,496 (2023 - £17,281) are secured against items of plant and machinery to which they relate which have a carrying value of £102,774 (2023 - £62,191).

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 37,816 36,455
Between one and five years 89,497 17,281
127,313 53,736

Non-cancellable operating leases
2024 2023
£    £   
Within one year 66,680 59,500
Between one and five years 239,665 238,000
In more than five years 476,000 535,500
782,345 833,000

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

The Report of the Auditors was unqualified.

Mark Macefield (Senior Statutory Auditor)
for and on behalf of Whitelaw Wells