TANDRIDGE GOLF CLUB LIMITED

Company limited by guarantee

Company Registration Number:
15010061 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 18 July 2023

End date: 30 September 2024

TANDRIDGE GOLF CLUB LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

TANDRIDGE GOLF CLUB LIMITED

Directors' report period ended 30 September 2024

The directors present their report with the financial statements of the company for the period ended 30 September 2024

Principal activities of the company

The principal activity of the company contunied to be that of Tandridge Golf Club Limited.



Directors

The directors shown below have held office during the whole of the period from
18 July 2023 to 30 September 2024

Stephen John Davies
David John Smith
Gregory Charles Meekings
Peter Allington
Graham King
Sian Johnson


The director shown below has held office during the period of
18 July 2023 to 2 December 2023

Tony David Chalkley


The director shown below has held office during the period of
2 December 2023 to 30 September 2024

David Anthony Bersey Hughes


Secretary Luke Andrew Edgcumbe

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
18 November 2024

And signed on behalf of the board by:
Name: Luke Andrew Edgcumbe
Status: Secretary

TANDRIDGE GOLF CLUB LIMITED

Profit And Loss Account

for the Period Ended 30 September 2024

14 months to 30 September 2024


£
Turnover: 2,790,388
Cost of sales: ( 1,746,081 )
Gross profit(or loss): 1,044,307
Distribution costs: 0
Administrative expenses: ( 1,162,778 )
Other operating income: 0
Operating profit(or loss): (118,471)
Interest receivable and similar income: 0
Interest payable and similar charges: 0
Profit(or loss) before tax: (118,471)
Tax: ( 9,492 )
Profit(or loss) for the financial year: (127,963)

TANDRIDGE GOLF CLUB LIMITED

Balance sheet

As at 30 September 2024

Notes 14 months to 30 September 2024


£
Fixed assets
Intangible assets:   0
Tangible assets: 3 1,933,450
Investments:   0
Total fixed assets: 1,933,450
Current assets
Stocks: 4 71,020
Debtors: 5 92,468
Cash at bank and in hand: 327,130
Investments:   0
Total current assets: 490,618
Creditors: amounts falling due within one year: 6 ( 532,702 )
Net current assets (liabilities): (42,084)
Total assets less current liabilities: 1,891,366
Creditors: amounts falling due after more than one year: 7 ( 838,220 )
Provision for liabilities: 0
Accruals and deferred income: ( 73,528 )
Total net assets (liabilities): 979,618
Members' funds
Profit and loss account: 979,618
Total members' funds: 979,618

The notes form part of these financial statements

TANDRIDGE GOLF CLUB LIMITED

Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 18 November 2024
and signed on behalf of the board by:

Name: Stephen John Davies
Status: Director

The notes form part of these financial statements

TANDRIDGE GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Income is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Income is the total receivable by the Company for subscriptions and services provided during the year.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Freehold land Nil Freehold buildings 5% straight line p.a. Course improvements (including irrigation system) 10% straight line p.a. Vehicles and course machinery 20% straight line p.a. Furniture and equipment 20% straight line p.a. At each reporting date, tangible fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in the income and expenditure account. If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment is recognised immediately in the income and expenditure account.

    Other accounting policies

    1. Company information The Company is governed according to its Articles of Association which include the Club Rules. The Company was established on July 18th, 2023 and is registered as a private company limited by guarantee in England and Wales under company number 15010061. As of October 1st, 2023 the assets, liabilities, rights and obligations of Tandridge Golf Club, an unincorporated association of members, were transferred to the Company. The registered office of the Club is Godstone Road, Oxted, Surrey, RH8 9NQ. The principal activity of the Company is to provide all necessary facilities for the playing and enjoyment of the game of golf by members and guests of Tandridge Golf Club. 2.Accounting policies Basis of Preparation 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.The financial statements have been prepared under the historical cost convention. The financial statements are presented in sterling (£) which is also the functional currency for the Company. Going concern No material uncertainties that may cast significant doubt about the ability of the Company to continue as a going concern have been identified by the Board and as such the financial statements have been prepared on a going concern basis. Stocks Stocks are stated at the lower of cost and net realisable value, being the estimated selling prices less costs to complete and sell. Cost is based on the cost of purchase and any freight or duty charges incurred on an average cost basis. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling prices less costs to complete and sell. The impairment loss is recognised immediately in the income and expenditure account. 2. Accounting policies (continued) Trade and other receivables Trade and other receivables are measured at transaction price less any impairment unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of the future receipts discounted at the prevailing market rate of interest. Loans are initially measured at fair value and are subsequently measured at amortised cost using the effective interest method less any impairment. Cash and cash equivalents Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. For the purpose of the consolidated cash flow statement, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts. Trade and other payables Trade and other payables are measured at their transaction price unless the arrangement constitutes a financing transaction in which case the transaction is measured at present value of future payments discounted at the prevailing market rate of interest. Other financial liabilities are initially measured at fair value net of their transaction costs. They are subsequently measured at amortised cost using the effective interest method. 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. Rentals payable under operating leases are charged to the income and expenditure account on a straight-line basis over the lease term. The aggregate benefit of lease incentives are recognised as a reduction to the expense recognised over the lease term on a straight-line basis. Employee benefits Short-term employee benefits and contributions to defined contribution pension schemes are recognised as an expense in the period in which they are incurred. Income Income is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Income is the total receivable by the Company for subscriptions and services provided during the year. Interest income Interest income is recognised in the income and expenditure account using the effective interest method. Taxation Current tax is recognised on its investment income, capital gains and profits derived from non Members. This includes rental income and bank interest Deferred tax Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against future taxable profits or against the reversal of deferred tax liabilities. Deferred tax relating to a non-depreciable asset that is measured using the revaluation model, or to investment properties measured at fair value, is measured using the tax rates and allowances that apply to the sale of the asset. Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. 3.Significant judgements and estimates The preparation of financial statements requires the Management Committee to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below: Tangible Fixed assets Determine whether there are indicators of impairment of the Company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. Stock valuation Stocks of finished goods are valued at the lower of cost and the estimated selling price less costs to sell. In assessing the value of the Company's stock, consideration is given to any impairment in its value as a result of any stock which is likely to become obsolete or which has an estimated selling price less than its cost price. Leases The Board determines whether leases entered into by the Company either as a lessor or a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

TANDRIDGE GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    14 months to 30 September 2024
    Average number of employees during the period 49

TANDRIDGE GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 638,286 2,812,852 435,167 0 0 3,886,305
Disposals
Revaluations
Transfers
At 30 September 2024 638,286 2,812,852 435,167 0 0 3,886,305
Depreciation
Charge for year 20,899 244,057 40,953 305,909
On disposals
Other adjustments 239,484 1,142,261 265,201 1,646,946
At 30 September 2024 260,383 1,386,318 306,154 1,952,855
Net book value
At 30 September 2024 377,903 1,426,534 129,013 0 0 1,933,450

TANDRIDGE GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Stocks

14 months to 30 September 2024
£
Stocks 71,020
Payments on account 0
Total 71,020

TANDRIDGE GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Debtors

14 months to 30 September 2024
£
Trade debtors 40,535
Prepayments and accrued income 51,933
Other debtors 0
Total 92,468

TANDRIDGE GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

6. Creditors: amounts falling due within one year note

14 months to 30 September 2024
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 32,816
Trade creditors 10,858
Taxation and social security 9,492
Accruals and deferred income 214,267
Other creditors 265,269
Total 532,702

TANDRIDGE GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

7. Creditors: amounts falling due after more than one year note

14 months to 30 September 2024
£
Amounts due under finance leases and hire purchase contracts 62,970
Other creditors 775,250
Total 838,220

TANDRIDGE GOLF CLUB LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

8. Financial Commitments

Capital commitments At the balance sheet date there were £nil 2023 £43,848 of commitments under contracts placed for capital expenditure Leasing commitments The Clubs future minimum operating lease payments are as follows Within one year 99,435 Between one and five years 156,415 Total 255,850