Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30true2023-07-01false39No description of principal activity36trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02726125 2023-07-01 2024-06-30 02726125 2022-07-01 2023-06-30 02726125 2024-06-30 02726125 2023-06-30 02726125 c:Director2 2023-07-01 2024-06-30 02726125 c:Director3 2023-07-01 2024-06-30 02726125 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 02726125 d:Buildings d:LongLeaseholdAssets 2024-06-30 02726125 d:Buildings d:LongLeaseholdAssets 2023-06-30 02726125 d:Buildings d:ShortLeaseholdAssets 2023-07-01 2024-06-30 02726125 d:PlantMachinery 2023-07-01 2024-06-30 02726125 d:MotorVehicles 2023-07-01 2024-06-30 02726125 d:MotorVehicles 2024-06-30 02726125 d:MotorVehicles 2023-06-30 02726125 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02726125 d:FurnitureFittings 2023-07-01 2024-06-30 02726125 d:FurnitureFittings 2024-06-30 02726125 d:FurnitureFittings 2023-06-30 02726125 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02726125 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02726125 d:CurrentFinancialInstruments 2024-06-30 02726125 d:CurrentFinancialInstruments 2023-06-30 02726125 d:Non-currentFinancialInstruments 2024-06-30 02726125 d:Non-currentFinancialInstruments 2023-06-30 02726125 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 02726125 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02726125 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 02726125 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 02726125 d:ShareCapital 2024-06-30 02726125 d:ShareCapital 2023-06-30 02726125 d:SharePremium 2024-06-30 02726125 d:SharePremium 2023-06-30 02726125 d:RetainedEarningsAccumulatedLosses 2024-06-30 02726125 d:RetainedEarningsAccumulatedLosses 2023-06-30 02726125 c:FRS102 2023-07-01 2024-06-30 02726125 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 02726125 c:FullAccounts 2023-07-01 2024-06-30 02726125 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02726125 d:HirePurchaseContracts d:WithinOneYear 2024-06-30 02726125 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 02726125 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-06-30 02726125 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 02726125 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-06-30 02726125 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-06-30 02726125 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 02726125










WINDLESHAM GOLF MANAGEMENT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
WINDLESHAM GOLF MANAGEMENT LIMITED
REGISTERED NUMBER: 02726125

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,441,599
3,230,678

  
3,441,599
3,230,678

Current assets
  

Stocks
  
63,124
58,213

Debtors: amounts falling due within one year
 5 
84,129
67,829

Cash at bank and in hand
  
569,817
613,587

  
717,070
739,629

Creditors: amounts falling due within one year
 6 
(1,178,051)
(1,114,545)

Net current liabilities
  
 
 
(460,981)
 
 
(374,916)

Total assets less current liabilities
  
2,980,618
2,855,762

Creditors: amounts falling due after more than one year
 7 
(1,955,687)
(1,885,666)

  

Net assets
  
1,024,931
970,096


Capital and reserves
  

Called up share capital 
  
292,245
292,245

Share premium account
  
4,739,006
4,739,006

Profit and loss account
  
(4,006,320)
(4,061,155)

  
1,024,931
970,096


Page 1

 
WINDLESHAM GOLF MANAGEMENT LIMITED
REGISTERED NUMBER: 02726125
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 









A J Trueman
P E Lumley
Director
Director


Date: 20 March 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WINDLESHAM GOLF MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company, which was incorporated and registered in England and Wales (registered number 02726125), is a privately owned company limited by shares.  The registered office address is C/O Windlesham Golf Club, Grove End, Bagshot, Surrey, GU19 5HY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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.

Page 3

 
WINDLESHAM GOLF MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

  
2.4

Licence

In 1994 the company was granted a 99 year lease over the land. A licence has been issued to Windlesham Golf Club to allow members use of the facilities for a similar period. The total amount due under the licence has been received in full in advance and is being released to the profit and loss account over the period of the licence in equal annual installments.

 
2.5

Tangible fixed assets

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:

Original Golf course development
-
amortised over the term of the lease - 99 years; between 10% and 20% straight line
Additional Golf course development
-
between 2% and 20% straight line
Plant and machinery
-
between 20% and 33% straight line
Motor vehicles
-
10% straight line
Clubhouse fixtures and fittings
-
between 20% and 33% straight line

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.

 
2.6

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 reporting 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.

 
2.7

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.

Page 4

 
WINDLESHAM GOLF MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

Page 5

 
WINDLESHAM GOLF MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 36 (2023 - 39).

Page 6

 
WINDLESHAM GOLF MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Land and Buildings
Motor vehicles
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 July 2023
5,336,916
8,500
1,025,817
6,371,233


Additions
92,538
-
374,331
466,869


Disposals
-
-
(138,400)
(138,400)



At 30 June 2024

5,429,454
8,500
1,261,748
6,699,702



Depreciation


At 1 July 2023
2,371,543
2,619
766,393
3,140,555


Charge for the year on owned assets
115,816
2,125
136,673
254,614


Disposals
-
-
(137,066)
(137,066)



At 30 June 2024

2,487,359
4,744
766,000
3,258,103



Net book value



At 30 June 2024
2,942,095
3,756
495,748
3,441,599



At 30 June 2023
2,965,374
5,881
259,423
3,230,678

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
261,233
46,250


5.


Debtors

2024
2023
£
£


Trade debtors
13,970
27,166

Other debtors
70,159
40,663

84,129
67,829


Page 7

 
WINDLESHAM GOLF MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
124,495
92,781

Amounts owed to group undertakings
138,885
139,500

Other taxation and social security
174,041
183,359

Obligations under finance lease and hire purchase contracts
55,552
17,575

Other creditors
75,002
69,442

Accruals and deferred income
610,076
611,888

1,178,051
1,114,545



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
104,561
7,323

Other creditors
1,851,126
1,878,343

1,955,687
1,885,666



8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
55,582
17,575

Between 1-5 years
104,561
7,323

160,143
24,898


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,836 (2023- £14,606)                                                                                There were contributions payable to the fund at the reporting date of £5,034 (2023- £3,260).

Page 8

 
WINDLESHAM GOLF MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Controlling party

The company is a subsidiary of Lumleys.Net (UK) Limited, a company registered in England and Wales.
 

 
Page 9