Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31truetruetruetruetrue57602023-08-01falseOperation of sports facilities Activities of sport clubstruefalse 08658550 2023-08-01 2024-07-31 08658550 2022-08-01 2023-07-31 08658550 2024-07-31 08658550 2023-07-31 08658550 c:Director1 2023-08-01 2024-07-31 08658550 d:Buildings 2023-08-01 2024-07-31 08658550 d:Buildings 2024-07-31 08658550 d:Buildings 2023-07-31 08658550 d:Buildings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08658550 d:Buildings d:LongLeaseholdAssets 2023-08-01 2024-07-31 08658550 d:Buildings d:LongLeaseholdAssets 2024-07-31 08658550 d:Buildings d:LongLeaseholdAssets 2023-07-31 08658550 d:PlantMachinery 2023-08-01 2024-07-31 08658550 d:PlantMachinery 2024-07-31 08658550 d:PlantMachinery 2023-07-31 08658550 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08658550 d:MotorVehicles 2023-08-01 2024-07-31 08658550 d:MotorVehicles 2024-07-31 08658550 d:MotorVehicles 2023-07-31 08658550 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08658550 d:FurnitureFittings 2023-08-01 2024-07-31 08658550 d:FurnitureFittings 2024-07-31 08658550 d:FurnitureFittings 2023-07-31 08658550 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08658550 d:ComputerEquipment 2023-08-01 2024-07-31 08658550 d:ComputerEquipment 2024-07-31 08658550 d:ComputerEquipment 2023-07-31 08658550 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08658550 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08658550 d:Goodwill 2024-07-31 08658550 d:Goodwill 2023-07-31 08658550 d:CurrentFinancialInstruments 2024-07-31 08658550 d:CurrentFinancialInstruments 2023-07-31 08658550 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 08658550 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08658550 d:ShareCapital 2024-07-31 08658550 d:ShareCapital 2023-07-31 08658550 d:RetainedEarningsAccumulatedLosses 2024-07-31 08658550 d:RetainedEarningsAccumulatedLosses 2023-07-31 08658550 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 08658550 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 08658550 c:FRS102 2023-08-01 2024-07-31 08658550 c:Audited 2023-08-01 2024-07-31 08658550 c:FullAccounts 2023-08-01 2024-07-31 08658550 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08658550 d:WithinOneYear 2024-07-31 08658550 d:WithinOneYear 2023-07-31 08658550 d:BetweenOneFiveYears 2024-07-31 08658550 d:BetweenOneFiveYears 2023-07-31 08658550 d:MoreThanFiveYears 2024-07-31 08658550 d:MoreThanFiveYears 2023-07-31 08658550 c:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 08658550 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 08658550









LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED
REGISTERED NUMBER: 08658550

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,895,938
2,009,913

  
1,895,938
2,009,913

Current assets
  

Stocks
 6 
18,969
15,411

Debtors: amounts falling due within one year
 7 
150,235
125,358

Cash at bank and in hand
 8 
17,808
9,267

  
187,012
150,036

Creditors: amounts falling due within one year
 9 
(3,439,286)
(3,341,227)

Net current liabilities
  
 
 
(3,252,274)
 
 
(3,191,191)

Total assets less current liabilities
  
(1,356,336)
(1,181,278)

Provisions for liabilities
  

Deferred tax
 10 
(38,190)
(60,346)

  
 
 
(38,190)
 
 
(60,346)

Net liabilities
  
(1,394,526)
(1,241,624)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(1,395,526)
(1,242,624)

  
(1,394,526)
(1,241,624)

Page 1

 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED
REGISTERED NUMBER: 08658550
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 April 2025.




M R Seabrook
Director

The notes on pages 3 to 14 form part of these financial statements.
Page 2

 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Lakeside Lodge Golf & Country Club Limited, is a private company, limited by shares, domiciled in England and Wales, registration number 08658550. The registered office is Admiral House, 853 London Road, West Thurrock, Essex, United Kingdom, RM20 3LG. The principal activity of the company is golf and leisure activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in pounds sterling which is the functional currency of the Company, rounded to the nearest £1.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Seabrook Holdings Limited as at 31 July 2024 and these financial statements may be obtained from Companies House.

Page 3

 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Going concern

The company incurred a loss of £152,902 in the year. At the year end the company had net liabilities of £1,394,526. The financial statements have been prepared on the going concern basis as the directors have considered the company's next 12 months working capital requirements in relation to its cash position at the date of the approval of these financial statements.
It is noted the company is financially reliant on the parent company, Seabrook Holdings Limited and at the year end an amount of £2,934,218 was due to the parent company. Should the support of the parent company be withdrawn, the company would be unable to continue trading, however there is no indication currently of this occuring.
As a result of the ongoing support from the parent company and the company's bankers there is no material uncertainty in the company's ability to continue as a going concern. For this reason they continue to adopt the going concern basis for preparing these financial statements.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Revenue includes golf memebership fees, accommodation fees, bar sales for food and drink, bowling lane income and health club hire.
The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.4
Revenue (continued)

Membership Income 

Income from memberships is recognised across the period of the membership.

Bar Sales

Income from bar sales is recognised at the point of the sale.
Accomodation Sales
Income from letting out of lodges.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 6

 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Long-term leasehold property
-
over the life of the lease
Plant and machinery
-
25%
straight line
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
20%
straight line
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Page 7

 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to sell. 
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 8

 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.16

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 9

 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
55
57



Directors
2
3

57
60


4.


Intangible assets




Goodwill

£



Cost


At 1 August 2023
370,000



At 31 July 2024

370,000



Amortisation


At 1 August 2023
370,000



At 31 July 2024

370,000



Net book value



At 31 July 2024
-



At 31 July 2023
-



Page 10
 


 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


5.


Tangible fixed assets






Freehold property
Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 August 2023
1,875,931
46,200
295,184
28,662
165,664
20,593
2,432,234


Additions
-
-
19,351
-
2,000
1,800
23,151



At 31 July 2024

1,875,931
46,200
314,535
28,662
167,664
22,393
2,455,385



Depreciation


At 1 August 2023
131,883
8,636
162,826
20,136
85,816
13,024
422,321


Charge for the year on owned assets
37,524
3,468
57,149
912
33,330
4,743
137,126



At 31 July 2024

169,407
12,104
219,975
21,048
119,146
17,767
559,447



Net book value



At 31 July 2024
1,706,524
34,096
94,560
7,614
48,518
4,626
1,895,938



At 31 July 2023
1,744,048
37,564
132,358
8,526
79,848
7,569
2,009,913

Page 11
 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Stocks

2024
2023
£
£

Bar food and drink
18,969
15,411

18,969
15,411



7.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
76,757
57,615

Other debtors
-
471

Prepayments and accrued income
73,478
67,272

150,235
125,358



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
17,808
9,267

17,808
9,267



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
137,862
153,553

Amounts owed to group undertakings
2,934,530
2,864,688

Other taxation and social security
122,760
119,855

Other creditors
103,656
78,082

Accruals and deferred income
140,478
125,049

3,439,286
3,341,227


Page 12

 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Deferred taxation




2024


£






At beginning of year
(60,346)


Charged to profit or loss
22,156



At end of year
(38,190)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(38,190)
(60,346)

(38,190)
(60,346)


11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounts to £17,157 (2023: £14,871).
Contributions totalling £4,218 (2023: £3,632) were payable to the fund at the balance sheet date.


12.


Commitments under operating leases

At 31 July 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
2,320
18,026

Later than 1 year and not later than 5 years
6,960
6,960

Later than 5 years
9,280
11,600

18,560
36,586

Page 13

 
LAKESIDE LODGE GOLF & COUNTRY CLUB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

13.


Controlling party

The ultimate parent company is Seabrook Holdings Limited, a company registered in England and Wales.
The ultimate controlling party is M R Seabrook by virtue of his majority shareholding in the ultimate parent company.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 28 April 2025 by Laura Ambrose BA(Hons) FCA (Senior Statutory Auditor) on behalf of Haslers.

 
Page 14