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REGISTERED NUMBER: 03184339 (England and Wales)









AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2023 TO 31 AUGUST 2024

FOR

CLANDON REGIS GOLF CLUB LIMITED

CLANDON REGIS GOLF CLUB LIMITED (REGISTERED NUMBER: 03184339)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2023 TO 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CLANDON REGIS GOLF CLUB LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JUNE 2023 TO 31 AUGUST 2024







DIRECTORS: P J Leach
N A Litchfield
S McEvoy
J Risley
L Wickens
D J Pugh


SECRETARY: T Chandler


REGISTERED OFFICE: Epsom Road
West Clandon
Surrey
GU4 7TT


REGISTERED NUMBER: 03184339 (England and Wales)


SENIOR STATUTORY AUDITOR: Jonathan Askew


AUDITORS: Hartley Fowler LLP
Statutory Auditors
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU


BANKERS: Barclays Bank plc
Guildford Friary Branch
19 North Street
Guildford
GU1 4AG

CLANDON REGIS GOLF CLUB LIMITED (REGISTERED NUMBER: 03184339)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 2,593,094 2,486,574

CURRENT ASSETS
Stocks 11,708 7,589
Debtors 6 48,660 15,518
Cash at bank and in hand 824,815 744,578
885,183 767,685
CREDITORS
Amounts falling due within one year 7 1,085,525 979,062
NET CURRENT LIABILITIES (200,342 ) (211,377 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,392,752

2,275,197

CREDITORS
Amounts falling due after more than one
year

8

143,115

157,139
NET ASSETS 2,249,637 2,118,058

CAPITAL AND RESERVES
Debentures 10 825,500 825,500
Income and expenditure account 1,424,137 1,292,558
2,249,637 2,118,058

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 14 November 2024 and were signed on its behalf by:




D J Pugh - Director



J Risley - Director


CLANDON REGIS GOLF CLUB LIMITED (REGISTERED NUMBER: 03184339)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2023 TO 31 AUGUST 2024


1. STATUTORY INFORMATION

Clandon Regis 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently.

Turnover
Turnover represents the invoiced amounts of subscriptions, green fees, guest golf days and catering and bar facilities, net of value added tax.

Revenue is measured at fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed

Subscription income is recognised evenly over the membership period with any amounts received in the current financial year that related to the following financial year treated as deferred income.

Revenue grants are recognised using the accrual model and are therefore recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Revenue grants are measured at fair value, being the amount of cash receivable.

Tangible fixed assets
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Freehold land and buildingsOver 50 years
Course Improvements Over 25 years/ 10% per annum on cost
Greenkeeping equipment20% per annum on cost
Bar equipment15% per annum on cost
Office equipment25% per annum on cost
House assets10% per annum 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.

Taxation
Taxation for the period 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.


CLANDON REGIS GOLF CLUB LIMITED (REGISTERED NUMBER: 03184339)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued
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 period 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
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of change on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables 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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Going concern
The financial statements have been prepared using the going concern basis notwithstanding the net current liabilities position at the balance sheet date.

The directors have prepared forecasts which indicate that the company will make use of its overdraft facility but this will not be exceeded. The club also has a dedicated core of members, and it is believed that should further funding be required, they would be willing to contribute either by loan or donation to the club.

On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 28 (2023 - 26 ) .

4. AUDITORS' REMUNERATION

2024 2023
£    £   

Fees payable to the company's auditors for the audit of the
company's financial statements


5,500


5,250

Other accounting charges 2,500 900
Total audit fee 8,000 6,150

CLANDON REGIS GOLF CLUB LIMITED (REGISTERED NUMBER: 03184339)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 AUGUST 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 2,450,825 930,194 3,381,019
Additions - 186,871 186,871
Disposals - (56,777 ) (56,777 )
At 31 August 2024 2,450,825 1,060,288 3,511,113
DEPRECIATION
At 1 June 2023 139,351 755,094 894,445
Charge for period 14,745 65,606 80,351
Eliminated on disposal - (56,777 ) (56,777 )
At 31 August 2024 154,096 763,923 918,019
NET BOOK VALUE
At 31 August 2024 2,296,729 296,365 2,593,094
At 31 May 2023 2,311,474 175,100 2,486,574

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023 99,733
Additions 69,495
At 31 August 2024 169,228
DEPRECIATION
At 1 June 2023 32,751
Charge for period 19,973
At 31 August 2024 52,724
NET BOOK VALUE
At 31 August 2024 116,504
At 31 May 2023 66,982

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,936
Other debtors 48,660 13,582
48,660 15,518

CLANDON REGIS GOLF CLUB LIMITED (REGISTERED NUMBER: 03184339)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 AUGUST 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 61,678 25,559
Trade creditors 80,675 46,579
Taxation and social security 28,674 36,817
Other creditors 904,498 860,107
1,085,525 979,062

Included in other creditors are amounts of £790,686 (2023: £744,393) relating to deferred income.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 14,144 25,897
Hire purchase contracts (see note 9) 39,796 41,067
Other creditors 89,175 90,175
143,115 157,139

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 89,175 90,175

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 61,678 25,559
Between one and five years 39,796 41,067
101,474 66,626

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

Non-cancellable operating leases
2024 2023
£    £   
Within one year 27,074 36,432
Between one and five years 32,946 73,807
60,020 110,239

CLANDON REGIS GOLF CLUB LIMITED (REGISTERED NUMBER: 03184339)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 AUGUST 2024


10. DEBENTURES


2024 2023
£ £

421 Founder debentures of a principal amount of £1,000 each 421,000 421,000
270 Ordinary debentures of a principal amount of £1,500 each 404,500 404,500
825,500 825,500


The founder and ordinary debentures do not bear interest and are held in trust for the members. The ordinary debentures are secured on the company's freehold property.

Founder and ordinary debentures of members who resign will be repaid from the joining fees from incoming members to the extent that such sums are sufficient to do so and provided that the directors consider that the company's finances permit. If the directors determine that at a particular time the company's finances do not permit payment to all resigned members, then the order of repayment will rank according to the date of resignation, with members that resigned earliest being repaid first. Payments made to the resigned member will be applied in paying first the ordinary debenture, then the founder debenture, and then any deposit payable.

At 31 May 2024 Founder debentures of resigned members amounted to £328,000 (2023: £328,000) and ordinary debentures of resigned members amounted to £300,500 (2023: £300,500).

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathan Askew (Senior Statutory Auditor)
for and on behalf of Hartley Fowler LLP

12. CONTINGENT LIABILITIES

Deposits are only repayable to individuals who have ceased to be a member of the club, providing the directors consider the finances of the company allow for such a repayment. If the directors determine that at a particular time the company's finances do not permit payment to all resigned members, then the order of repayment will rank according to the date of resignation, with members that resigned earliest being repaid first. Payments made to the resigned member will be applied in paying first the ordinary debenture, then the founder debenture, and then any deposit payable.

The deposits are treated as a contingent liability as they are payable entirely at the directors' discretion. When deposits are repaid they are treated in the accounts as an expense.

At 31 May 2024 deposits of current and resigned members amounted to:

2024 2023
£ £

Deposits of resigned members 794,444 794,444
Deposits of current members 198,483 198,483
992,927 992,927

No deposits were repaid in the current year.

13. RELATED PARTY DISCLOSURES

During the year all directors were members of the golf club and all paid subscriptions at the appropriate rate.

CLANDON REGIS GOLF CLUB LIMITED (REGISTERED NUMBER: 03184339)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 AUGUST 2024


14. GUARANTEE

The company is limited by guarantee and has no share capital.

A company member is obliged on a winding up to contribute up to £10 to the company in respect of liabilities incurred during his or her period of membership.