Company registration number 00119307 (England and Wales)
HALLAMSHIRE GOLF CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
HALLAMSHIRE GOLF CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
HALLAMSHIRE GOLF CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,298,082
1,402,792
Current assets
Stocks
71,728
68,350
Debtors
4
49,110
34,106
Cash at bank and in hand
367,549
258,580
488,387
361,036
Creditors: amounts falling due within one year
5
(1,003,201)
(873,410)
Net current liabilities
(514,814)
(512,374)
Total assets less current liabilities
783,268
890,418
Creditors: amounts falling due after more than one year
6
(274,576)
(398,537)
Net assets
508,692
491,881
Reserves
Accumulated fund
508,692
491,881

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

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 28 March 2025 and are signed on its behalf by:
P Dobbs
M Greenshields
Director
Director
Company Registration No. 00119307
HALLAMSHIRE GOLF CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Hallamshire Golf Club Limited is a private company, limited by guarantee and incorporated in England and Wales. The registered office is , The Club House, Sandygate, Sheffield, S10 4LA.

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.

 

Due to the special circumstances of the company, the directors have departed from the provisions of FRS 102 section 1A with regard to the content of the profit and loss account in order that the financial statements give a true and fair view. Costs in relation to bar, catering, pro shop sales, green fees, swing studio and rental income have been offset against income of the same nature.

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.

1.2
Income and expenditure

Revenue represents amounts receivable for membership subscriptions, green fees, bar takings, catering takings, pro shop takings, rental income and other miscellaneous income.

1.3
Tangible fixed assets

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

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 freehold
2% reducing balance, 12.5% reducing balance and 12.5% straight line
Course equipment
25% reducing balance
Clubhouse fixtures and fittings
15% reducing balance
Course water scheme
£1,000 per annum, 5% on cost and 20% straight line

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.

1.4
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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price.

HALLAMSHIRE GOLF CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
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.

1.7
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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

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.

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

HALLAMSHIRE GOLF CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.10
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 the revenue account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons employed by the company during the year was:

2024
2023
Number
Number
Total
31
32
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
1,038,885
1,799,992
2,838,877
Additions
44,747
30,573
75,320
Disposals
-
0
(2,451)
(2,451)
At 31 December 2024
1,083,632
1,828,114
2,911,746
Depreciation and impairment
At 1 January 2024
512,433
923,652
1,436,085
Depreciation charged in the year
19,298
158,793
178,091
Eliminated in respect of disposals
-
0
(512)
(512)
At 31 December 2024
531,731
1,081,933
1,613,664
Carrying amount
At 31 December 2024
551,901
746,181
1,298,082
At 31 December 2023
526,452
876,340
1,402,792

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2024
2023
£
£
Course equipment
288,851
390,830
HALLAMSHIRE GOLF CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3
Tangible fixed assets
(Continued)
- 5 -
Depreciation charge for the year in respect of leased assets
75,942
64,745
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
12,692
11,066
Prepayments and accrued income
36,418
23,040
49,110
34,106
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
27,879
26,295
Obligations under finance leases
88,127
101,483
Trade creditors
68,346
36,631
Corporation tax
3,912
2,888
Other taxation and social security
34,891
29,955
Deferred income
543,666
478,040
Other creditors
171,294
157,683
Accruals
65,086
40,435
1,003,201
873,410

The aggregate amount of creditors for which security has been has been given amounted to £116,006 (2023 - £127,778). The obligations under finance leases are secured over the assets to which they relate and the bank loans are secured against the property and undertakings of the company.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
139,605
167,545
Obligations under finance leases
134,971
230,992
274,576
398,537

The aggregate amount of creditors for which security has been has been given amounted to £274,576 (2023 - £398,537). The obligations under finance leases are secured over the assets to which they relate and the bank loans are secured against the property and undertakings of the company.

 

HALLAMSHIRE GOLF CLUB LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
7
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 £1.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Hannah Jones
Statutory Auditor:
Hart Shaw LLP
Date of audit report:
31 March 2025
9
Operating lease commitments

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

2024
2023
£
£
10,792
17,314
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