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REGISTERED NUMBER: 12197503 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 December 2024

for

Ross On Wye Golf Club Limited

Ross On Wye Golf Club Limited (Registered number: 12197503)






Contents of the Financial Statements
For The Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ross On Wye Golf Club Limited

Company Information
For The Year Ended 31 December 2024







DIRECTORS: A Graham
N A Stirling
W T J Digings
J C Tweedale
T W J Harrison





REGISTERED OFFICE: Ross On Wye Golf Club
Gorsley
Ross On Wye
Herefordshire
HR9 7UT





REGISTERED NUMBER: 12197503 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Ross On Wye Golf Club Limited (Registered number: 12197503)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 393,850 403,842

CURRENT ASSETS
Stocks 18,003 24,900
Debtors 5 123,191 123,358
Cash at bank and in hand 143,599 128,813
284,793 277,071
CREDITORS
Amounts falling due within one year 6 271,748 261,022
NET CURRENT ASSETS 13,045 16,049
TOTAL ASSETS LESS CURRENT
LIABILITIES

406,895

419,891

CREDITORS
Amounts falling due after more than one
year

7

10,834

22,804
NET ASSETS 396,061 397,087

RESERVES
Retained Earnings 396,061 397,087
396,061 397,087

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Ross On Wye Golf Club Limited (Registered number: 12197503)

Balance Sheet - continued
31 December 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by:





W T J Digings - Director


Ross On Wye Golf Club Limited (Registered number: 12197503)

Notes to the Financial Statements
For The Year Ended 31 December 2024

1. STATUTORY INFORMATION

Ross On Wye Golf Club 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.

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
Turnover is recognised at the fair value of the consideration received or receivable for member's subscriptions, green fees and other golf course related income in the normal course of business.

Turnover from sale of goods is recognised at the point of sale when the significant risks and rewards of ownership of the goods have passed to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to course and property - at varying rates on cost
Course equipment - 33% on cost, 20% on cost and 15% on cost
Clubhouse fixtures & fittings - 20% on cost and 15% on cost

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 has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Ross On Wye Golf Club Limited (Registered number: 12197503)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and balancing owing to related companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 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
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

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.

Other income
Other income includes rental income from the bungalows. The company recognises such revenue on a straight line accruals basis.

Revenue is also generated from the solar panels and recognised on an accruals basis.

Ross On Wye Golf Club Limited (Registered number: 12197503)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to course Clubhouse
and Course fixtures
property equipment & fittings Totals
£    £    £    £   
COST
At 1 January 2024 324,113 221,132 65,550 610,795
Additions 35,414 15,976 14,747 66,137
At 31 December 2024 359,527 237,108 80,297 676,932
DEPRECIATION
At 1 January 2024 56,206 120,124 30,623 206,953
Charge for year 29,941 31,229 14,959 76,129
At 31 December 2024 86,147 151,353 45,582 283,082
NET BOOK VALUE
At 31 December 2024 273,380 85,755 34,715 393,850
At 31 December 2023 267,907 101,008 34,927 403,842

At 31st December 2024 assets with a net book value of £15,900 (2023: £34,271) were held under hire purchase and finance leases. Depreciation of £3,180 (2023: £5,712) was charged on these assets in the year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 103,123 106,039
Other debtors 2,444 3,050
Prepayments and accrued income 17,624 14,269
123,191 123,358

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts (see note 8) 10,000 10,000
Hire purchase contracts (see note 9) 1,971 8,802
Trade creditors 23,136 25,466
Amounts due to related company 1,400 1,149
Tax 2,440 3,417
Payroll, pension & taxes 8,918 9,602
VAT 7,170 4,705
Other creditors 30,574 25,722
Captain's charity 9,811 2,890
400 club 3,065 425
Prepaid membership subs 145,000 145,000
Accrued expenses 28,263 23,844
271,748 261,022

Ross On Wye Golf Club Limited (Registered number: 12197503)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans (see note 8) 10,834 20,833
Hire purchase contracts (see note 9) - 1,971
10,834 22,804

8. LOANS

An analysis of the maturity of loans is given below:

31.12.24 31.12.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 834 10,833

The company took out a Government secured, bounce back loan of £50,000 in January 2021. Interest is charged at a fixed rate of 2.5%.

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.24 31.12.23
£    £   
Net obligations repayable:
Within one year 1,971 8,802
Between one and five years - 1,971
1,971 10,773

Non-cancellable operating leases
31.12.24 31.12.23
£    £   
Within one year 43,316 31,035
Between one and five years 90,075 18,394
133,391 49,429

A lease agreement is in place with Ross on Wye Golf Club Property Limited, a company also limited by guarantee. The agreement is for the rental of the course and clubhouse at a peppercorn rent for the 25 year term ending 31st December 2044.

Ross On Wye Golf Club Limited (Registered number: 12197503)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Hire purchase contracts 1,971 10,773

11. CAPITAL COMMITMENTS
31.12.24 31.12.23
£    £   
Contracted but not provided for in the
financial statements - 3,022

12. LIMITED BY GUARANTEE

The company has no issued share capital and is limited by guarantee of each member not exceeding £1.00