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REGISTERED NUMBER: 00762710 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

MENDIP GOLF CLUB LIMITED

MENDIP GOLF CLUB LIMITED (REGISTERED NUMBER: 00762710)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MENDIP GOLF CLUB LIMITED

Company Information
for the year ended 30 June 2024







DIRECTORS: H Graham
A M Kay
A J Edwards
R Miller





SECRETARY: H Graham





REGISTERED OFFICE: Mendip Golf Club
Golf Links Lane
Gurney Slade
Radstock
Somerset
BA3 4UT





REGISTERED NUMBER: 00762710 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Mendip Golf Club Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mendip Golf Club Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mendip Golf Club Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mendip Golf Club Limited and state those matters that we have agreed to state to the Board of Directors of Mendip Golf Club Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mendip Golf Club Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mendip Golf Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mendip Golf Club Limited. You consider that Mendip Golf Club Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mendip Golf Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


15 January 2025

MENDIP GOLF CLUB LIMITED (REGISTERED NUMBER: 00762710)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,287,258 736,099
Investments 5 1,000 1,000
1,288,258 737,099

CURRENT ASSETS
Stocks 10,658 -
Debtors 6 290,873 260,235
Cash at bank 307,835 161,360
609,366 421,595
CREDITORS
Amounts falling due within one year 7 742,043 554,061
NET CURRENT LIABILITIES (132,677 ) (132,466 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,155,581

604,633

CREDITORS
Amounts falling due after more than one
year

8

91,622

25,374
NET ASSETS 1,063,959 579,259

RESERVES
Revaluation reserve 438,625 -
Income and expenditure account 625,334 579,259
1,063,959 579,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MENDIP GOLF CLUB LIMITED (REGISTERED NUMBER: 00762710)

Balance Sheet - continued
30 June 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 10 January 2025 and were signed on its behalf by:




A M Kay - Director



A J Edwards - Director


MENDIP GOLF CLUB LIMITED (REGISTERED NUMBER: 00762710)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Mendip Golf Club Limited is a private company, limited by guarantee , registered in England and Wales. 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
The financial statements have been prepared under the historical cost convention unless otherwise
specified within these accounting policies and in accordance with Section 1A of Financial Reporting
Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and
the Companies Act 2006.

The following principal accounting policies have been applied:

Preparation of consolidated financial statements
The financial statements contain information about Mendip Golf Club Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
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:

- Subscription income is recognised over the course of the subscription term.
- Green fees, bar income and other sundry sales are recognised on the date the transaction takes
place
- Competition income is recognised when the competition takes place
- Recoverable VAT is recognised as this is reclaimed

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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 - 2%
- Plant and machinery - Various rates over the estimated life of the asset
- Computer equipment - Various rates over the estimated life of the asset


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.

MENDIP GOLF CLUB LIMITED (REGISTERED NUMBER: 00762710)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiaries are measured at cost less accumulated impairment.

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 first in, first out 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.

Financial instruments
The Company only enters into basic financial instrument 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 ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans
and other accounts receivable and payable, are initially measured at present value of the future cash
flows and subsequently at amortised cost using the effective interest method. Debt instruments that
are payable or receivable within one year, typically trade debtors and creditors, are measured,
initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each
reporting period for objective evidence of impairment. If objective evidence of impairment is found,
an impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

MENDIP GOLF CLUB LIMITED (REGISTERED NUMBER: 00762710)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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.

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 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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant & Computer
property Machinery equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 July 2023 722,637 517,622 24,048 1,264,307
Additions 104,603 91,358 - 195,961
Disposals - (50 ) - (50 )
Revaluations 438,625 - - 438,625
At 30 June 2024 1,265,865 608,930 24,048 1,898,843
DEPRECIATION
At 1 July 2023 273,740 231,630 22,838 528,208
Charge for year 39,273 43,850 304 83,427
Eliminated on disposal - (50 ) - (50 )
At 30 June 2024 313,013 275,430 23,142 611,585
NET BOOK VALUE
At 30 June 2024 952,852 333,500 906 1,287,258
At 30 June 2023 448,897 285,992 1,210 736,099

The land was revalued by the directors to £600,000 as at 30.06.24, on an open market basis. The directors are satisfied that the valuation reflects the current market value.

MENDIP GOLF CLUB LIMITED (REGISTERED NUMBER: 00762710)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 1,000
NET BOOK VALUE
At 30 June 2024 1,000
At 30 June 2023 1,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

The investment is 100% of the share capital of Mendip Golf Club Developments Ltd

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 279,641 249,212
Amounts owed by group undertakings 9,811 7,917
Prepayments 1,421 3,106
290,873 260,235

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,880 10,648
Hire purchase contracts 8,400 4,316
Trade creditors 14,470 4,880
Social security and other taxes - 395
VAT - 1,486
Other creditors 73,654 69,756
Accruals and deferred income 623,300 453,348
Accrued expenses 7,339 9,232
742,043 554,061

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 14,880 10,648
Bank loans - 2-5 years 20,662 14,726
Bank loans more 5 yr by instal 23,180 -
Hire purchase contracts 32,900 -
91,622 25,374

MENDIP GOLF CLUB LIMITED (REGISTERED NUMBER: 00762710)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 23,180 -

Included in loans is a government backed bounce back loan of £26,022 (2023 £36,022)

A second loan with a balance of £47,580 is secured against the assets of the company.

The Hire Purchase is secured on the relevant assets.

9. LIMITED BY GUARANTEE

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.