REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
TYRRELLS WOOD GOLF CLUB LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
TYRRELLS WOOD GOLF CLUB LIMITED |
TYRRELLS WOOD GOLF CLUB LIMITED (REGISTERED NUMBER: 01624141) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
TYRRELLS WOOD GOLF CLUB LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
Elm House, Tanshire Park |
Shackleford Road |
Elstead |
Godalming |
Surrey |
GU8 6LB |
TYRRELLS WOOD GOLF CLUB LIMITED (REGISTERED NUMBER: 01624141) |
BALANCE SHEET |
31 DECEMBER 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current assets/(liabilities) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
Net assets |
Reserves |
Revaluation reserve | 9 |
Capital reserve | 9 |
Income and expenditure account | 9 |
The financial statements were approved by the Board of Directors and authorised for issue on |
TYRRELLS WOOD GOLF CLUB LIMITED (REGISTERED NUMBER: 01624141) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
1. | Statutory information |
Tyrrells Wood Golf Club Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
Hire purchase and leasing commitments |
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Tangible fixed assets |
Depreciation is charged at the following annual rates in order to write off each asset over its estimated useful life. |
Improvements to course between 5% and 15% on cost |
Improvements to clubhouse over 10 years |
Fixtures and fittings over 5 years and 25% reducing balance |
Course equipment 25% reducing balance and 20% on cost |
3. | Employees and directors |
The average number of employees during the year was |
TYRRELLS WOOD GOLF CLUB LIMITED (REGISTERED NUMBER: 01624141) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
4. | Tangible fixed assets |
Imprvmts to | Improvements |
Freehold | property & | to |
property | course | clubhouse |
£ | £ | £ |
Cost |
At 1 January 2024 |
Additions |
At 31 December 2024 |
Depreciation |
At 1 January 2024 |
Charge for year |
Eliminated on disposal |
At 31 December 2024 |
Net book value |
At 31 December 2024 |
At 31 December 2023 |
Fixtures | Motors & |
and | course |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
At 1 January 2024 |
Additions |
At 31 December 2024 |
Depreciation |
At 1 January 2024 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2024 |
Net book value |
At 31 December 2024 |
At 31 December 2023 |
The freehold land and buildings were revalued in 1982 (historical cost £35,777). On transition to FRS 102 Section 1A on 01 January 2016, this valuation was adopted as deemed cost. |
TYRRELLS WOOD GOLF CLUB LIMITED (REGISTERED NUMBER: 01624141) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
5. | Debtors: amounts falling due within one year |
31.12.24 | 31.12.23 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
6. | Creditors: amounts falling due within one year |
31.12.24 | 31.12.23 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Coronavirus Business |
Interruption Loan | 50,000 | 50,000 |
Accruals and deferred income |
Subscriptions rec'd in advance |
Members card system | 41,723 | 39,336 |
7. | Creditors: amounts falling due after more than one year |
31.12.24 | 31.12.23 |
£ | £ |
Member Loans |
Coronavirus Business |
Interruption Loan | 29,167 | 79,167 |
Other creditors | 46,085 | - |
Subscriptions rec'd in advance | 379,360 | - |
On 24 June 2024 a resolution was passed to create a maximum nominal amount of £850,000 4% fixed rate unsecured loan notes 2035 to club members to raise funds for the clubhouse refurbishment project. The notes are repayable over 10 years, with a fixed interest rate of 4% p.a. with the first repayment due on 31 December 2026. As of 31 December 2024, there are outstanding balances of £256,500.. |
During the year members were given the opportunity to pay the annual subscriptions and refurbishment levy for the period 1 April 2025 to 31 March 2034 in advance at the 2024 rates. |
During 2020, a Coronavirus Business Interruption Loan was taken out which is repayable on or before 15 July 2026. Interest is payable at Bank Base Rate plus 2.45% and is secured by an unlimited debenture dated 06 May 2021 incorporating a fixed and floating charge. |
TYRRELLS WOOD GOLF CLUB LIMITED (REGISTERED NUMBER: 01624141) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
8. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.24 | 31.12.23 |
£ | £ |
Within one year |
Between one and five years |
9. | Reserves |
Income and |
expenditure | Revaluation | Capital |
account | reserve | reserve | Totals |
£ | £ | £ | £ |
At 1 January 2024 | 1,254,987 |
Surplus for the year |
At 31 December 2024 | 1,421,007 |
10. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | Capital commitments |
31.12.24 | 31.12.23 |
£ | £ |
Contracted but not provided for in the |
financial statements |
12. | Related party disclosures |
During the year there were a number of transactions with related parties whereby members' businesses were engaged to carry out building and construction work. All transactions were on an arms length basis and none were with directors. They totalled £3,878, excluding VAT. |
13. | Controlling party |
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. |