REGISTERED NUMBER: 00093239 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2024

for

Hexham Golf Club,limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Bayly

Mrs A J D Bennett

S Brown

I Crawford

D Fletcher

S Heads

Mrs S L Mather

W Stevenson

D Watts

G Wilson

P J Smith

P F Shrimpton

SECRETARY:

P J Smith

REGISTERED OFFICE:

Spital Park

Hexham

Northumberland

NE46 3RZ

REGISTERED NUMBER:

00093239 (England and Wales)

FIXED ASSETS

Tangible assets

4

499,364

481,368

CURRENT ASSETS

Stocks

5

6,990

-

Debtors

6

39,342

91,735

Cash at bank

160,629

30,370

206,961

122,105

CREDITORS

Amounts falling due within one year

7

295,528

215,337

NET CURRENT LIABILITIES

(88,567

)

(93,232

)

TOTAL ASSETS LESS CURRENT LIABILITIES

410,797

388,136

CREDITORS

Amounts falling due after more than one year

8

37,630

10,965

NET ASSETS

373,167

377,171

RESERVES

Other reserves

223,157

164,455

Income and expenditure account

150,010

212,716

373,167

377,171

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 December 2024 and were signed on its behalf by:

G Wilson - Director

1.	STATUTORY INFORMATION

Hexham 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

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.

Going concern

In determining the appropriateness of the use of the going concern basis of preparation of the financial

statements, the directors were required to consider whether the company could continue in operational

existence for the foreseeable future.

The directors considered the following in making their assessment;

In light of global events which persist at the date of approval of these financial statements, the directors

have taken measures to counter the potential impact of any potential inflation and price increases on the

company’s operations and the resultant impact on financial headroom.

The clubs members show continued support through payment of annual membership subscriptions and the

club continues to gain new members.

Whilst the above risks and others cannot be completely mitigated and therefore some level of future

uncertainty remains, the directors have adopted measures and assessed the financial implications of

associated factors outside their control and are satisfied the company has adequate facilities in place to be

considered a going concern, and therefore believe preparation of the accounts using the going concern basis to be appropriate.

Income and expenditure

Income arises from all activities undertaken by the Golf Club during the year, including subscriptions,

entrance fees and other income from related activities, exclusive of Value Added Tax.

Income in respect of subscriptions is recognised on a straight line basis over the term of the subscription or

upon participation in a club activity.

Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Expenditure arises as a result of the above activities undertaken and is included in the financial statements

in the period in which the goods or services were utilised.

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.

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:

Freehold land and buildings 0 to 40 years straight line

Equipment 5 to 10 years straight line

Fixtures and fittings 5 to 10 years straight line

The gain or loss 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.

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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the assets for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or in deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed, if and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Stocks

Stocks are stated at the lower of cost and net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The company only enters into financial instruments transactions that result in the recognition of basic debt financial assets and liabilities like trade and other accounts receivable and payable, cash and bank balances and loans to or from related parties, including fellow group companies. All such instruments are due within one year, and are measured, initially and subsequently at the transaction price.

At the end of each reporting period debt financial assets are assessed for impairment, and their carrying value reduced if necessary. Any impairment charge is recognised in the profit and loss account.

Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

Tax is charged only on any non trading loan relationship surplus generated.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 employer or to provide termination benefits.

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

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 October 2023

606,147

624,603

127,771

1,358,521

Additions

-

55,930

6,150

62,080

Disposals

-

(36,892

)

(5,114

)

(42,006

)

Transfer to ownership

-

143,217

-

143,217

At 30 September 2024

606,147

786,858

128,807

1,521,812

DEPRECIATION

At 1 October 2023

383,454

388,169

105,530

877,153

Charge for year

11,941

45,988

4,832

62,761

Eliminated on disposal

-

(36,892

)

(5,113

)

(42,005

)

Transfer to ownership

-

124,539

-

124,539

At 30 September 2024

395,395

521,804

105,249

1,022,448

NET BOOK VALUE

At 30 September 2024

210,752

265,054

23,558

499,364

At 30 September 2023

222,693

236,434

22,241

481,368

5.

STOCKS

30/9/24

30/9/23

£

£

Stocks

6,990

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/24

30/9/23

£

£

Trade debtors

27,738

36,220

Other debtors

444

45,368

Prepayments

11,160

10,147

39,342

91,735

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/24

30/9/23

£

£

Trade creditors

40,772

2,775

Social security and other taxes

20,921

9,022

Accruals and deferred income

216,019

181,690

Accrued expenses

10,429

14,463

Deferred government grants

7,387

7,387

295,528

215,337

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/9/24

30/9/23

£

£

Hire purchase contracts

34,052

-

Deferred government grants

3,578

10,965

37,630

10,965

9.	RELATED PARTY DISCLOSURES

Hexham Golf Club Limited operated a loan account with Hexham Golf & Hospitality Limited, a company limited by guarantee of which Hexham Golf & Hospitality Limited was the sole subscriber.

During the year ended 30 September 2023, £23,000 was transferred from Hexham Golf Club Limited out of its distributable reserves to Hexham Golf & Hospitality Limited as a capital injection.

At 30 September 2024 a balance of £nil (2023: £17,919) was owed to Hexham Golf Club Limited by Hexham Golf & Hospitality Limited. No interest was charged to Hexham Golf & Hospitality Limited on this balance.

Hexham Golf Club Limited acquired for £nil the whole trade and assets of Hexham Golf & Hospitality Limited with economic effect from 1 October 2023.

10.	MEMBERS' LIABILITY

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited. Every member of the club undertakes to contribute to the assets of the Club in the event of the same being wound up during the the time that they are a member, or within one year afterwards, for payment of the debts and liabilities the Club contracted before the time at which he ceases to be a member and of the costs, charges and expenses of winding up the same, and for the adjustment of the rights of the contributories amongst themselves, such amount as may be required not exceeding the amount of his or her annual subscription.