Silverfin false false 31/12/2024 01/01/2024 31/12/2024 P Allerton 02/08/2022 J Bligh 22/03/2024 17/03/2023 C Bruce 22/03/2024 R Burrell 17/03/2023 A Corbyn 22/03/2024 13/03/2020 B Lord 13/03/2020 D Nichols 01/09/2021 J M Richmond 15/03/2019 S Strutt 26/11/2024 S Yates 22/03/2024 22 April 2025 no description of principal activity 05822581 2024-12-31 05822581 bus:Director1 2024-12-31 05822581 bus:Director2 2024-12-31 05822581 bus:Director3 2024-12-31 05822581 bus:Director4 2024-12-31 05822581 bus:Director5 2024-12-31 05822581 bus:Director6 2024-12-31 05822581 bus:Director7 2024-12-31 05822581 bus:Director8 2024-12-31 05822581 bus:Director9 2024-12-31 05822581 bus:Director10 2024-12-31 05822581 2023-12-31 05822581 core:CurrentFinancialInstruments 2024-12-31 05822581 core:CurrentFinancialInstruments 2023-12-31 05822581 core:Non-currentFinancialInstruments 2024-12-31 05822581 core:Non-currentFinancialInstruments 2023-12-31 05822581 core:OtherCapitalReserve 2024-12-31 05822581 core:OtherCapitalReserve 2023-12-31 05822581 core:RetainedEarningsAccumulatedLosses 2024-12-31 05822581 core:RetainedEarningsAccumulatedLosses 2023-12-31 05822581 core:LandBuildings 2023-12-31 05822581 core:PlantMachinery 2023-12-31 05822581 core:FurnitureFittings 2023-12-31 05822581 core:OtherPropertyPlantEquipment 2023-12-31 05822581 core:LandBuildings 2024-12-31 05822581 core:PlantMachinery 2024-12-31 05822581 core:FurnitureFittings 2024-12-31 05822581 core:OtherPropertyPlantEquipment 2024-12-31 05822581 core:CostValuation 2023-12-31 05822581 core:CostValuation 2024-12-31 05822581 core:MoreThanFiveYears 2024-12-31 05822581 core:MoreThanFiveYears 2023-12-31 05822581 2024-01-01 2024-12-31 05822581 bus:FilletedAccounts 2024-01-01 2024-12-31 05822581 bus:SmallEntities 2024-01-01 2024-12-31 05822581 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05822581 bus:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 05822581 bus:Director1 2024-01-01 2024-12-31 05822581 bus:Director2 2024-01-01 2024-12-31 05822581 bus:Director3 2024-01-01 2024-12-31 05822581 bus:Director4 2024-01-01 2024-12-31 05822581 bus:Director5 2024-01-01 2024-12-31 05822581 bus:Director6 2024-01-01 2024-12-31 05822581 bus:Director7 2024-01-01 2024-12-31 05822581 bus:Director8 2024-01-01 2024-12-31 05822581 bus:Director9 2024-01-01 2024-12-31 05822581 bus:Director10 2024-01-01 2024-12-31 05822581 core:LandBuildings core:TopRangeValue 2024-01-01 2024-12-31 05822581 core:PlantMachinery 2024-01-01 2024-12-31 05822581 core:FurnitureFittings 2024-01-01 2024-12-31 05822581 2023-01-01 2023-12-31 05822581 core:LandBuildings 2024-01-01 2024-12-31 05822581 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 05822581 core:Subsidiary1 2024-01-01 2024-12-31 05822581 core:Subsidiary1 1 2024-01-01 2024-12-31 05822581 core:Subsidiary1 1 2023-01-01 2023-12-31 05822581 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure decimalUnit

Company No: 05822581 (England and Wales)

CLACTON-ON-SEA GOLF CLUB LIMITED

(A company limited by guarantee)

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

CLACTON-ON-SEA GOLF CLUB LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

CLACTON-ON-SEA GOLF CLUB LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
CLACTON-ON-SEA GOLF CLUB LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,173,038 2,164,868
Investments 4 1 1
2,173,039 2,164,869
Current assets
Stocks 40,700 29,753
Debtors 5 36,296 10,644
Cash at bank and in hand 209,416 284,422
286,412 324,819
Creditors: amounts falling due within one year 6 ( 632,148) ( 613,372)
Net current liabilities (345,736) (288,553)
Total assets less current liabilities 1,827,303 1,876,316
Creditors: amounts falling due after more than one year 7 ( 536,084) ( 632,401)
Net assets 1,291,219 1,243,915
Reserves
Other reserves 272,076 272,076
Profit and loss account 1,019,143 971,839
Total reserves 1,291,219 1,243,915

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Clacton-on-Sea Golf Club Limited (registered number: 05822581) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

P Allerton
Director
J M Richmond
Director

22 April 2025

CLACTON-ON-SEA GOLF CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
CLACTON-ON-SEA GOLF CLUB LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Clacton-on-Sea Golf Club Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is West Road, Clacton On Sea, Essex, CO15 1AJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 5 years straight line
Plant and machinery 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Other property, plant and equipment not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Income Statement over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and 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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 24 23

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 January 2024 1,915,605 532,969 201,932 18,500 2,669,006
Additions 0 37,784 29,998 0 67,782
At 31 December 2024 1,915,605 570,753 231,930 18,500 2,736,788
Accumulated depreciation
At 01 January 2024 5,950 362,056 136,132 0 504,138
Charge for the financial year 5,100 37,696 16,816 0 59,612
At 31 December 2024 11,050 399,752 152,948 0 563,750
Net book value
At 31 December 2024 1,904,555 171,001 78,982 18,500 2,173,038
At 31 December 2023 1,909,655 170,913 65,800 18,500 2,164,868

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 1
At 31 December 2024 1
Carrying value at 31 December 2024 1
Carrying value at 31 December 2023 1

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.12.2024
Ownership
31.12.2023
Clacton Golf Club Trading Limited West Road, Clacton-on-Sea, Essex, CO15 1AJ Activities of sport clubs Ordinary 100.00% 100.00%

5. Debtors

2024 2023
£ £
Trade debtors 1,042 0
Amounts owed by Group undertakings 503 928
Prepayments 32,606 8,480
Other debtors 2,145 1,236
36,296 10,644

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 25,783 25,503
Trade creditors 21,483 13,610
Other loans 56,145 49,767
Accruals and deferred income 209,107 205,458
Other taxation and social security 30,667 12,565
Obligations under finance leases and hire purchase contracts 26,840 30,378
Other creditors 262,123 276,091
632,148 613,372

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

2024 2023
£ £
Bank loans 66,702 92,486
Other loans 424,211 481,226
Obligations under finance leases and hire purchase contracts 45,171 58,689
536,084 632,401

The mortgage loans are secured by way of a mortgage debenture dated 7 December 2006 over the Company's freehold premises.

The hire purchase liabilities are secured against the assets to which they relate.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans 18,688 25,779
Other loans 186,164 254,918
Obligations under finance leases and hire purchase contracts 0 4,309
204,852 285,006

8. Liability of members

The members of the Clacton-on-Sea Golf Club Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.

9. Related party transactions

Directors have provided interest free loans to the club during the current and previous year as part of the amount shown in other creditors totalling £10,000 (2023 - £10,000).

During the year the Company received a donation of £138,769 (2023 - £228,541) from, and recharged expenses totalling £60,564 (2023 - £180,404) to, a subsidiary company. At 31 December 2024 the Company was owed £503 from the subsidiary company (2023 - £928 owed from the subsidiary).