REGISTERED NUMBER: 00089303 (England and Wales)

THE PANNAL GOLF CLUB (HARROGATE) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Maxwell

G Pryde

S J Caldwell

R J Topham

L McKenzie

C Macnair

Dr L Sheldrake

D B Everingham

J M Graham-Rack

REGISTERED OFFICE:

Follifoot Road

Pannal

Harrogate

North Yorkshire

HG3 1ES

REGISTERED NUMBER:

00089303 (England and Wales)

INDEPENDENT AUDITORS:

DSC Accountants Ltd

Chartered Accountants

Statutory Auditors

Tattersall House

East Parade

Harrogate

North Yorkshire

HG1 5LT

BANKERS:

Handlesbanken

1 Greengate

Cardale Park

Harrogate

HG3 1GY

FIXED ASSETS

Tangible assets

4

1,279,481

1,078,343

CURRENT ASSETS

Stocks

20,902

16,006

Debtors

5

10,324

13,972

Cash at bank and in hand

6

834,013

654,468

865,239

684,446

CREDITORS

Amounts falling due within one year

7

953,341

714,071

NET CURRENT LIABILITIES

(88,102

)

(29,625

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,191,379

1,048,718

CREDITORS

Amounts falling due after more than one year

8

136,650

133,222

NET ASSETS

1,054,729

915,496

RESERVES

Retained earnings

1,054,729

915,496

MEMBERS' FUNDS

1,054,729

915,496

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 February 2025 and were signed on its behalf by:

R Maxwell - Director

R J Topham - Director

1.	STATUTORY INFORMATION

The Pannal Golf Club (Harrogate) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Income is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Provision is made for depreciation on tangible assets, other than freehold land, at rates calculated to write off the cost of each asset over its expected useful life as follows:

Freehold buildings and course features

Over 10 - 25 years

House fixtures and equipment

Over 5 - 10 years

Green equipment

Assets obtained under hire purchase contracts or finance leases are depreciated over the term of the contract leaving a 10% residual value. Assets that are owned are depreciated over 7 years, leaving a 10% residual value.

In the event of any income being received by the club with a condition that it must be used to purchase a specific asset, then the income and any associated depreciation is recognised using the accrual model and is recognised in the profit and loss account on a systematic basis over the expected useful life of the asset.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks and other third parties.

Financial assets and liabilities are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account as appropriate.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. All other leases are classified as operating leases.

Operating leases are recognised as an expense on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions payable for the year are charged in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 25 ) .

4.	TANGIBLE FIXED ASSETS

House

Freehold

fixtures

land and

Green

and

buildings

equipment

fittings

Totals

£

£

£

£

COST

At 1 January 2024

1,142,632

668,229

632,944

2,443,805

Additions

215,259

124,717

46,589

386,565

Disposals

-

(60,926

)

-

(60,926

)

At 31 December 2024

1,357,891

732,020

679,533

2,769,444

DEPRECIATION

At 1 January 2024

433,034

466,718

465,710

1,365,462

Charge for year

54,875

76,055

48,405

179,335

Eliminated on disposal

-

(54,834

)

-

(54,834

)

At 31 December 2024

487,909

487,939

514,115

1,489,963

NET BOOK VALUE

At 31 December 2024

869,982

244,081

165,418

1,279,481

At 31 December 2023

709,598

201,511

167,234

1,078,343

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Green

equipment

£

COST

At 1 January 2024

267,178

Additions

77,885

At 31 December 2024

345,063

DEPRECIATION

At 1 January 2024

127,765

Charge for year

57,511

At 31 December 2024

185,276

NET BOOK VALUE

At 31 December 2024

159,787

At 31 December 2023

139,413

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

1,108

Prepayments and accrued income

10,324

12,864

10,324

13,972

6.	CASH AT BANK AND IN HAND

Included in the year end cash at bank figure is an amount of £310,000 which has been identified and earmarked for capital expenditure projects in 2025. The remaining balance is a normal operating balance and includes the advance subscriptions received up to the balance sheet date.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

61,888

46,328

Trade creditors

60,884

42,406

Social security and other taxes

22,028

29,296

Subscriptions and other amounts received in advance

769,762

558,628

Other creditors

9,292

8,267

Accruals and deferred income

29,487

29,146

953,341

714,071

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

94,458

88,920

Accruals and deferred income

42,192

44,302

136,650

133,222

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

156,346

135,248

The hire purchase contracts are secured on the relevant assets.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham French (Senior Statutory Auditor)

for and on behalf of DSC Accountants Ltd

11.	CAPITAL COMMITMENTS

2024

2023

£

£

Contracted but not provided for in the

financial statements

157,000

104,000

12.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

In common with many other businesses of our size and nature we use our auditors to provide tax advice and to represent us, as necessary, at tax tribunals.

13.	SHARE CAPITAL

The club is limited by guarantee and has no share capital.