Littlestone Golf Club Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00064316

Littlestone Golf Club Limited

Company Limited by Guarantee

Filleted Financial Statements

31 December 2024

Littlestone Golf Club Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Littlestone Golf Club Limited

Company Limited by Guarantee

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		1,662,627	1,507,021

Current assets

Stocks		125,864	107,845
Debtors	7	120,519	127,010
Cash at bank and in hand		850,790	933,064
		------------	------------
		1,097,173	1,167,919

Creditors: amounts falling due within one year	8	1,035,670		966,736
		------------		------------
Net current assets			61,503	201,183
			------------	------------
Total assets less current liabilities			1,724,130	1,708,204

Creditors: amounts falling due after more than one year	9	329,700	406,100
		------------	------------
Net assets		1,394,430	1,302,104
		------------	------------

Capital and reserves

Profit and loss account	1,394,430	1,302,104
	------------	------------
Members funds	1,394,430	1,302,104
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 15 April 2025 , and are signed on behalf of the board by:

J Ward	A Rodgers
Director	Director

Company registration number: 00064316

Littlestone Golf Club Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by guarantee, registered in United Kingdom. The address of the registered office is Littlestone Golf Club, St Andrews Road, Littlestone, New Romney, Kent, TN28 8RB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Freehold property

Freehold land and buildings were revalued in 1981 and the company is continuing to follow the transitional provisions of FRS 102 by carrying the freehold property at the 1981 valuation.

Going concern

The Directors have considered a period of twelve months from the date of approval of the financial statements and believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's working capital requirements. Despite increased competition in the industry, the company has continued to control its costs and maximise its income.

Members' loans

The Members' Loan Scheme was introduced in 2007. The loans advanced to the Club by members are shown as a long term liability. Should any member request repayment and give the prescribed 12 months written notice, the respective loan will be transferred to current liabilities. The loans are shown at cost in the accounts as each member receives a discount on their annual subscription based on the value of their loans which reflect a market rate of interest.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Leases Determine whether leases entered into by the company either as a lessor or a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Tangible fixed assets Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Revenue recognition

Turnover represents the value of membership subscriptions, green fee income, pro shop sales and bar and catering sales, excluding value added tax, where applicable, during the year.

Income tax

No provision is made for deferred taxation. Due to substantial trading losses brought forward from previous years, no liability is likely to arise in the foreseeable future.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	10% - 33% reducing balance
Fixtures and Fittings	-	15% - 33% reducing balance
Improvements to property	-	10% straight line

No depreciation is charged on the Freehold Property.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Company limited by guarantee

Every member of the Company undertakes to contribute to the assets of the Company in the event of it being wound up, up to a maximum of £1.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 34 (2023: 37 ).

6. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Improvements to property	Total
	£	£	£	£	£
Cost
At 1 January 2024	926,642	1,282,401	199,254	232,956	2,641,253
Additions	–	37,692	2,211	232,498	272,401
	---------	------------	---------	---------	------------
At 31 December 2024	926,642	1,320,093	201,465	465,454	2,913,654
	---------	------------	---------	---------	------------
Depreciation
At 1 January 2024	–	732,530	168,746	232,956	1,134,232
Charge for the year	–	111,823	4,972	–	116,795
	---------	------------	---------	---------	------------
At 31 December 2024	–	844,353	173,718	232,956	1,251,027
	---------	------------	---------	---------	------------
Carrying amount
At 31 December 2024	926,642	475,740	27,747	232,498	1,662,627
	---------	------------	---------	---------	------------
At 31 December 2023	926,642	549,871	30,508	–	1,507,021
	---------	------------	---------	---------	------------

Freehold land and buildings are included at 31 December 2024 at a figure of £926,642 based upon a professional valuation taken at 1 December 1981, less disposals plus additions at cost since that date. Freehold property is not depreciated as stated in note 3. The historical cost of the freehold land and buildings included at valuation is £714,987.

7. Debtors

	2024	2023
	£	£
Prepayments	101,109	99,024
Other debtors	19,410	27,986
	---------	---------
	120,519	127,010
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	81,790	84,953
Subscriptions in advance and deferred	666,808	591,659
Social security and other taxes	31,575	32,216
Members' swipe cards	49,699	46,676
Members' loans	2,000	2,000
Other creditors	203,798	209,232
	------------	---------
	1,035,670	966,736
	------------	---------

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

	2024	2023
	£	£
Members loans	57,000	59,000
Other creditors	272,700	347,100
	---------	---------
	329,700	406,100
	---------	---------

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	181,073	181,073
Later than 1 year and not later than 5 years	–	181,073
	---------	---------
	181,073	362,146
	---------	---------

11. Summary audit opinion

The auditor's report dated 12 May 2025 was qualified on the following basis:

As explained in the notes to the accounts, freehold buildings are not depreciated in accordance with FRS 102 or the Companies Act 2006. We are unable to quantify the effect of this departure due to the absence of a breakdown of the valuation figure between land and buildings and the estimated useful life of the latter.

The senior statutory auditor was Colin Reid , for and on behalf of Burgess Hodgson LLP .

12. Related party transactions

The company was under the control of its elected Board of Directors. No transactions with related parties were undertaken during the current or previous year.