Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Stewart Bazneh 24/03/2021 Geoffrey Callicott 14/03/2024 17/03/2022 Michael Godkin 17/03/2022 Gary John Hawking 24/03/2021 John May 16/03/2023 Dennis William O'Sullivan 14/03/2024 24/03/2021 Noel Preston-Jones 18/03/2019 Richard Hugh Price 24/01/2018 David Brian Smith 17/03/2022 24 March 2025 The principal activity of the company during the year was the management and provision of golfing facilities and other golf club related activities. 11167310 2024-12-31 11167310 bus:Director1 2024-12-31 11167310 bus:Director2 2024-12-31 11167310 bus:Director3 2024-12-31 11167310 bus:Director4 2024-12-31 11167310 bus:Director5 2024-12-31 11167310 bus:Director6 2024-12-31 11167310 bus:Director7 2024-12-31 11167310 bus:Director8 2024-12-31 11167310 bus:Director9 2024-12-31 11167310 2023-12-31 11167310 core:CurrentFinancialInstruments 2024-12-31 11167310 core:CurrentFinancialInstruments 2023-12-31 11167310 core:Non-currentFinancialInstruments 2024-12-31 11167310 core:Non-currentFinancialInstruments 2023-12-31 11167310 core:RetainedEarningsAccumulatedLosses 2024-12-31 11167310 core:RetainedEarningsAccumulatedLosses 2023-12-31 11167310 core:LandBuildings 2023-12-31 11167310 core:PlantMachinery 2023-12-31 11167310 core:FurnitureFittings 2023-12-31 11167310 core:OtherPropertyPlantEquipment 2023-12-31 11167310 core:LandBuildings 2024-12-31 11167310 core:PlantMachinery 2024-12-31 11167310 core:FurnitureFittings 2024-12-31 11167310 core:OtherPropertyPlantEquipment 2024-12-31 11167310 core:CurrentFinancialInstruments core:Secured 2024-12-31 11167310 core:Non-currentFinancialInstruments core:Secured 2024-12-31 11167310 2024-01-01 2024-12-31 11167310 bus:FilletedAccounts 2024-01-01 2024-12-31 11167310 bus:SmallEntities 2024-01-01 2024-12-31 11167310 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11167310 bus:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 11167310 bus:Director1 2024-01-01 2024-12-31 11167310 bus:Director2 2024-01-01 2024-12-31 11167310 bus:Director3 2024-01-01 2024-12-31 11167310 bus:Director4 2024-01-01 2024-12-31 11167310 bus:Director5 2024-01-01 2024-12-31 11167310 bus:Director6 2024-01-01 2024-12-31 11167310 bus:Director7 2024-01-01 2024-12-31 11167310 bus:Director8 2024-01-01 2024-12-31 11167310 bus:Director9 2024-01-01 2024-12-31 11167310 core:LandBuildings core:BottomRangeValue 2024-01-01 2024-12-31 11167310 core:LandBuildings core:TopRangeValue 2024-01-01 2024-12-31 11167310 core:PlantMachinery core:TopRangeValue 2024-01-01 2024-12-31 11167310 core:FurnitureFittings core:TopRangeValue 2024-01-01 2024-12-31 11167310 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-01-01 2024-12-31 11167310 2023-01-01 2023-12-31 11167310 core:LandBuildings 2024-01-01 2024-12-31 11167310 core:PlantMachinery 2024-01-01 2024-12-31 11167310 core:FurnitureFittings 2024-01-01 2024-12-31 11167310 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 11167310 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 11167310 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company No: 11167310 (England and Wales)

YELVERTON GOLF CLUB LIMITED

(A company limited by guarantee)

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

YELVERTON GOLF CLUB LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

YELVERTON GOLF CLUB LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
YELVERTON GOLF CLUB LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 559,331 585,474
559,331 585,474
Current assets
Stocks 24,282 20,515
Debtors 4 97,854 67,525
Cash at bank and in hand 21,437 ( 58,590)
143,573 29,450
Creditors: amounts falling due within one year 5 ( 524,141) ( 336,233)
Net current liabilities (380,568) (306,783)
Total assets less current liabilities 178,763 278,691
Creditors: amounts falling due after more than one year 6 ( 89,027) ( 142,670)
Net assets 89,736 136,021
Reserves
Profit and loss account 89,736 136,021
Total reserves 89,736 136,021

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Yelverton Golf Club Limited (registered number: 11167310) were approved and authorised for issue by the Board of Directors on 24 March 2025. They were signed on its behalf by:

Richard Hugh Price
Director
YELVERTON GOLF CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
YELVERTON GOLF CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Yelverton Golf Club Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Yelverton Golf Club, Golf Links Road, Yelverton, PL20 6BN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors note that the business has net current liabilities of £380,568. This is largely due to the deferred income recognised, as opposed to debt. The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements and have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Therefore, the accounts have been prepared on the going concern basis.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 20 - 50 years straight line
Plant and machinery 10 years straight line
Fixtures and fittings 7 years straight line
Other property, plant and equipment 22 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 24 24

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 January 2024 302,157 277,827 104,768 156,016 840,768
Additions 64 29,113 9,027 2,262 40,466
Disposals 0 ( 10,852) 0 0 ( 10,852)
At 31 December 2024 302,221 296,088 113,795 158,278 870,382
Accumulated depreciation
At 01 January 2024 55,059 108,415 51,508 40,312 255,294
Charge for the financial year 11,275 28,681 12,981 7,161 60,098
Disposals 0 ( 4,341) 0 0 ( 4,341)
At 31 December 2024 66,334 132,755 64,489 47,473 311,051
Net book value
At 31 December 2024 235,887 163,333 49,306 110,805 559,331
At 31 December 2023 247,098 169,412 53,260 115,704 585,474

4. Debtors

2024 2023
£ £
Trade debtors 81,749 61,961
Prepayments 15,253 4,397
Other debtors 852 1,167
97,854 67,525

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured £ 21,805) 32,159 31,130
Trade creditors 15,842 28,428
Accruals and deferred income 404,109 211,418
Other taxation and social security 30,997 18,549
Obligations under finance leases and hire purchase contracts (secured) 18,392 23,999
Other creditors 22,642 22,709
524,141 336,233

The bank loans of £21,805 (2023: £21,032) are secured by way of a fixed and floating charge over all assets and undertakings of the company.

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured £ 8,290) 14,456 44,472
Other loans 62,300 83,000
Obligations under finance leases and hire purchase contracts 12,271 15,198
89,027 142,670

The bank loans of £8,290 (2023: £27,955) are secured by way of a fixed and floating charge over all assets and undertakings of the company.

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

7. Liability of members

The members of the Yelverton Golf Club Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.

8. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 7,763 13,088

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 2,981 2,572

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Debentures owed to directors at the year end (inc. in other loans) 12,100 20,000
Interest owed to directors on debentures at the year end (inc. in accruals) 1,133 2,083