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COMPANY REGISTRATION NUMBER: 00089970
Rookery Park Golf Course Company Limited
Unaudited financial statements
For the year ended
31 December 2024
Rookery Park Golf Course Company Limited
Statement of financial position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
992,302
948,611
Current assets
Stocks
30,427
27,579
Debtors
6
16,682
32,000
Cash at bank and in hand
120,483
195,163
---------
---------
167,592
254,742
Creditors: Amounts falling due within one year
7
( 241,366)
( 247,849)
---------
---------
Net current (liabilities)/assets
( 73,774)
6,893
---------
---------
Total assets less current liabilities
918,528
955,504
Creditors: Amounts falling due after more than one year
8
( 32,969)
( 40,844)
Provisions
Taxation including deferred tax
( 8,019)
( 11,010)
---------
---------
Net assets
877,540
903,650
---------
---------
Capital and reserves
Called up share capital
5,835
5,835
Profit and loss account
871,705
897,815
---------
---------
Shareholders funds
877,540
903,650
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the 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:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Rookery Park Golf Course Company Limited
Statement of financial position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 19 March 2025 , and are signed on behalf of the board by:
Mr G A Flatt
Director
Company registration number: 00089970
Rookery Park Golf Course Company Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Rookery Park Golf Club, Beccles Road, Carlton Colville, Lowestoft, NR33 8HJ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings
-
2% straight line
Plant and machinery
-
20% reducing balance and over 3 to 20 years
Fixtures and fittings
-
Over 5 or 20 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Staff costs
The average number of employees during the year was 24 (2023: 24 ).
The directors received no remuneration during this or the previous accounting periods.
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 January 2024
1,054,648
244,684
206,961
1,506,293
Additions
62,462
56,526
118,988
-----------
---------
---------
-----------
At 31 December 2024
1,117,110
301,210
206,961
1,625,281
-----------
---------
---------
-----------
Depreciation
At 1 January 2024
385,828
102,676
69,178
557,682
Charge for the year
17,650
46,814
10,833
75,297
-----------
---------
---------
-----------
At 31 December 2024
403,478
149,490
80,011
632,979
-----------
---------
---------
-----------
Carrying amount
At 31 December 2024
713,632
151,720
126,950
992,302
-----------
---------
---------
-----------
At 31 December 2023
668,820
142,008
137,783
948,611
-----------
---------
---------
-----------
6. Debtors
2024
2023
£
£
Trade debtors
767
3,408
Other debtors
15,915
28,592
-------
-------
16,682
32,000
-------
-------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
33,315
25,775
Social security and other taxes
10,403
7,368
Other creditors
197,648
214,706
---------
---------
241,366
247,849
---------
---------
The aggregate amount of the hire purchase contracts totalling £32,244 (2023: £26,264) are secured on the assets of the company. Bank loans and overdrafts are secured on the assets of the company.
8. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Other creditors
32,969
40,844
-------
-------
The aggregate amount of the hire purchase contracts totalling £32,969 (2023: £40,844) are secured on the assets of the company .
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
11,193
17,785
Later than 1 year and not later than 5 years
8,578
11,193
-------
-------
19,771
28,978
-------
-------