Basingstoke Golf Club 1907 Ltd 15042237 false 2023-08-01 2024-12-31 2024-12-31 The principal activity of the company is operation of sports facilities Digita Accounts Production Advanced 6.30.9574.0 true true true 15042237 2023-08-01 2024-12-31 15042237 2024-12-31 15042237 core:CurrentFinancialInstruments 2024-12-31 15042237 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 15042237 core:FurnitureFittingsToolsEquipment 2024-12-31 15042237 core:LandBuildings 2024-12-31 15042237 core:OtherPropertyPlantEquipment 2024-12-31 15042237 bus:SmallEntities 2023-08-01 2024-12-31 15042237 bus:Audited 2023-08-01 2024-12-31 15042237 bus:FilletedAccounts 2023-08-01 2024-12-31 15042237 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-12-31 15042237 bus:RegisteredOffice 2023-08-01 2024-12-31 15042237 bus:Chairman 2023-08-01 2024-12-31 15042237 bus:Director2 2023-08-01 2024-12-31 15042237 bus:Director3 2023-08-01 2024-12-31 15042237 bus:Director4 2023-08-01 2024-12-31 15042237 bus:Director5 2023-08-01 2024-12-31 15042237 bus:Director6 2023-08-01 2024-12-31 15042237 bus:Director8 2023-08-01 2024-12-31 15042237 bus:CompanyLimitedByGuarantee 2023-08-01 2024-12-31 15042237 bus:Agent1 2023-08-01 2024-12-31 15042237 core:Buildings 2023-08-01 2024-12-31 15042237 core:FurnitureFittings 2023-08-01 2024-12-31 15042237 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-12-31 15042237 core:LandBuildings 2023-08-01 2024-12-31 15042237 core:OfficeEquipment 2023-08-01 2024-12-31 15042237 core:OtherPropertyPlantEquipment 2023-08-01 2024-12-31 15042237 core:PlantMachinery 2023-08-01 2024-12-31 15042237 countries:EnglandWales 2023-08-01 2024-12-31 iso4217:GBP xbrli:pure

Registration number: 15042237

Basingstoke Golf Club 1907 Ltd

(A company limited by guarantee)

Annual Report and Financial Statements (Filleted)

for the Period from 1 August 2023 to 31 December 2024

image-name
 

Basingstoke Golf Club 1907 Ltd

Contents

Company Information

1

Independent Auditor's Report

2 to 5

Balance Sheet

6

Notes to the Financial Statements

7 to 10

 

Basingstoke Golf Club 1907 Ltd

Company Information

Chairman

Mr D J Rushbrook

Directors

Mr P J Fincham

Mr R B Haywood

Mr A D Jones

Mr R C Lackey

Mr J M Luff

Mr D C Walker

Registered office

Basingstoke Golf Club
Down Street
Dummer
Basingstoke
RG25 2AD

Bankers

Handelsbanken Plc
Apex Plaza
Forbury Road
Reading
Berkshire
RG1 1AX

Auditors

Ritchie Phillips LLP Ground Floor South Suite
Afon House
Worthing Road
Horsham
West Sussex
RH12 1TL

 

Basingstoke Golf Club 1907 Ltd

Independent Auditor's Report to the Members of Basingstoke Golf Club 1907 Ltd

Opinion

We have audited the financial statements of Basingstoke Golf Club 1907 Ltd (the 'company') for the period from 1 August 2023 to 31 December 2024, which comprise the Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the period then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

 

Basingstoke Golf Club 1907 Ltd

Independent Auditor's Report to the Members of Basingstoke Golf Club 1907 Ltd

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the for the financial period for which the financial statements are prepared is consistent with the financial statements; and

the has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the .

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the [set out on page ], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

 

Basingstoke Golf Club 1907 Ltd

Independent Auditor's Report to the Members of Basingstoke Golf Club 1907 Ltd

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the golf club sector;

• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and health and safety legislation;

• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting underlying supporting documentation; and

• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

• performed analytical procedures to identify any unusual or unexpected relationships;

• tested journal entries to identify unusual transactions;

• assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

• investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• agreeing financial statement disclosures to underlying supporting documentation;

• reading the minutes of meetings of those charged with governance;

• enquiring of management as to actual and potential financial claims; and

• reviewing correspondence with HMRC and relevant regulators including the Health and Safety Executive.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

 

Basingstoke Golf Club 1907 Ltd

Independent Auditor's Report to the Members of Basingstoke Golf Club 1907 Ltd

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Stuart Ritchie (Senior Statutory Auditor)
For and on behalf of Ritchie Phillips LLP, Statutory Auditor
 Ground Floor South Suite
Afon House
Worthing Road
Horsham
West Sussex
RH12 1TL

17 March 2025

 

Basingstoke Golf Club 1907 Ltd

(Registration number: 15042237)
Balance Sheet as at 31 December 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

5,464,782

Current assets

 

Stocks

5

35,538

Debtors

6

206,960

Cash at bank and in hand

 

3,614,378

 

3,856,876

Creditors: Amounts falling due within one year

7

(1,751,820)

Net current assets

 

2,105,056

Net assets

 

7,569,838

Reserves

 

Capital reserve

7,567,632

Retained earnings

2,206

Surplus

 

7,569,838

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 

.........................................
Mr D J Rushbrook
Chairman

.........................................
Mr A D Jones
Director

 
     
 

Basingstoke Golf Club 1907 Ltd

Notes to the Financial Statements for the Period from 1 August 2023 to 31 December 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £2 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Basingstoke Golf Club
Down Street
Dummer
Basingstoke
RG25 2AD
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis as the company holds significant cash in excess of its liabilities and planned capital expenditure.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Basingstoke Golf Club 1907 Ltd

Notes to the Financial Statements for the Period from 1 August 2023 to 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

5 - 10 years straight line

Office equipment

4 years straight line

Fixtures and fittings

5 years straight line

Freehold property

50 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Basingstoke Golf Club 1907 Ltd

Notes to the Financial Statements for the Period from 1 August 2023 to 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 28.

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

Additions

4,900,000

10,000

590,000

5,500,000

At 31 December 2024

4,900,000

10,000

590,000

5,500,000

Depreciation

Charge for the period

14,500

490

20,228

35,218

At 31 December 2024

14,500

490

20,228

35,218

Carrying amount

At 31 December 2024

4,885,500

9,510

569,772

5,464,782

Included within the net book value of land and buildings above is £2,900,000 in respect of freehold land.

The property, Basingstoke Golf Club, was valued by external valuers Crosthwaites Chartered Surveyors as at 11 October 2024 in accordance with the RICS Valuation Global Standards on the basis of Fair Value subject to the Special Assumption that the golf course had been satisfactorily completed at that date in accordance with the plans and specifications, and was fully fitted and equipped ready to trade.

5

Stocks

2024
£

Other inventories

35,538

6

Debtors

Current

2024
£

Trade debtors

29,860

Prepayments

18,893

Other debtors

158,207

 

206,960

 

Basingstoke Golf Club 1907 Ltd

Notes to the Financial Statements for the Period from 1 August 2023 to 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

45,733

Taxation and social security

53,102

Accruals and deferred income

426,849

Other creditors

1,226,136

1,751,820

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current period were as follows:

Other reserves
£

Total
£

Member's reserves

7,567,632

7,567,632

On 11 October 2024, the company received as a distribution in specie the business of Basingstoke Golf Club. The assets transferred comprised property, plant and equipment of £5,500,000, a bank balance of £2,000,000, and other net assets of £67,632, in total £7,567,632.

9

Company limited by guarantee

The company is limited by guarantee and consequently does not have share capital. In the event that the company is wound up, every member and those who have been members in the last year are liable to pay sum not exceeding £2.