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REGISTERED NUMBER: 00365609 (England and Wales)









AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

BETCHWORTH PARK GOLF CLUB (DORKING)
LIMITED

BETCHWORTH PARK GOLF CLUB (DORKING)
LIMITED (REGISTERED NUMBER: 00365609)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BETCHWORTH PARK GOLF CLUB (DORKING)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: N Adderley
N R Beard
W Mundie
M J Stanger
D Taylor
A Tickner



SECRETARY: M J Stanger



REGISTERED OFFICE: The Club House,
Reigate Road,
Dorking
Surrey
RH4 1NZ



REGISTERED NUMBER: 00365609 (England and Wales)



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



BANKERS: Lloyds Bank plc
120/124 High Street
Dorking
Surrey
RH4 1BB

BETCHWORTH PARK GOLF CLUB (DORKING)
LIMITED (REGISTERED NUMBER: 00365609)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 4,582,203 3,231,588

CURRENT ASSETS
Stocks 5 51,579 58,791
Debtors 6 14,892 102,510
Cash at bank and in hand 492,090 1,591,846
558,561 1,753,147
CREDITORS
Amounts falling due within one year 7 1,372,681 1,353,708
NET CURRENT (LIABILITIES)/ASSETS (814,120 ) 399,439
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,768,083

3,631,027

CREDITORS
Amounts falling due after more than one
year

8

1,517,129

1,547,330
NET ASSETS 2,250,954 2,083,697

CAPITAL AND RESERVES
Called up share capital 10 1,364 1,364
Revaluation reserve 11 1,165,324 1,165,324
Retained earnings 11 1,084,266 917,009
SHAREHOLDERS' FUNDS 2,250,954 2,083,697

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 4 February 2025 and were signed on its behalf by:





N R Beard - Director


BETCHWORTH PARK GOLF CLUB (DORKING)
LIMITED (REGISTERED NUMBER: 00365609)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Betchworth Park Golf Club (Dorking) Limited is a private company, limited by shares , 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.

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 company is reliant on Lloyds Bank plc in providing financing, including two 25 year mortgages and an overdraft facility. The directors have prepared cash flow forecasts which indicate that the company will remain reliant of the financing provided, but this will not be exceeded and the directors are not aware of any reasons why such funding should not be available for the foreseeable future.

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

Turnover
Turnover represents the amounts invoiced for subscriptions, green fees, guest golf days, catering and bar facilities.

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

The turnover and pre-tax surplus are wholly attributable to the company's main activity. The turnover arises entirely in the United Kingdom.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 20% on cost, 10% on cost, 7% on cost and 2% on cost
Plant and machinery - 20% on cost and 20% on reducing balance
Fixtures and fittings - 20% on cost and 10% on cost
Motor vehicles - 20% 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
For tax purposes the company has a non-trading status and its results other than interest received are not subject to corporation tax.


BETCHWORTH PARK GOLF CLUB (DORKING)
LIMITED (REGISTERED NUMBER: 00365609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 operating 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 exist, 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.

Pension costs
The company operates a defined contribution pension scheme and an insured death in service benefit scheme. Contributions to the schemes are charged to the income and expenditure account in the period to which they relate. These contributions are invested separately from the company's assets.

Government Grants

Government grants are recognised when the entity has reasonable assurance that conditions attached to the grant will be complied with and that the grant will be received.
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 35 ) .

BETCHWORTH PARK GOLF CLUB (DORKING)
LIMITED (REGISTERED NUMBER: 00365609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 October 2023 2,710,216 431,402 1,338,576
Additions 142,422 1,247,037 77,433
Disposals - - (3,000 )
At 30 September 2024 2,852,638 1,678,439 1,413,009
DEPRECIATION
At 1 October 2023 277,222 5,354 1,068,884
Charge for year 20,642 13,146 103,447
Eliminated on disposal - - (1,950 )
At 30 September 2024 297,864 18,500 1,170,381
NET BOOK VALUE
At 30 September 2024 2,554,774 1,659,939 242,628
At 30 September 2023 2,432,994 426,048 269,692

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 October 2023 932,179 22,645 5,435,018
Additions 55,797 - 1,522,689
Disposals - - (3,000 )
At 30 September 2024 987,976 22,645 6,954,707
DEPRECIATION
At 1 October 2023 829,325 22,645 2,203,430
Charge for year 33,789 - 171,024
Eliminated on disposal - - (1,950 )
At 30 September 2024 863,114 22,645 2,372,504
NET BOOK VALUE
At 30 September 2024 124,862 - 4,582,203
At 30 September 2023 102,854 - 3,231,588

BETCHWORTH PARK GOLF CLUB (DORKING)
LIMITED (REGISTERED NUMBER: 00365609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS - continued

The land and buildings were valued by GVA in July 2011. The land and buildings were valued at a market value of £2.5m in accordance with the RICS Appraisal and Valuation Standards (7th Edition) using the Comparison Method of valuation.

On the historical cost basis the net book value of the land and buildings would have been £1,551,833 (2023: £1,429,809).



Analysis of net book value of land and buildings:20242023
£   £   

Freehold Land1,972,1991,972,199
Freehold Buildings582,575460,795
2,554,7742,432,994

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 October 2023 331,735 34,120 365,855
Additions 77,433 - 77,433
Transfer to ownership (148,589 ) - (148,589 )
At 30 September 2024 260,579 34,120 294,699
DEPRECIATION
At 1 October 2023 221,334 19,335 240,669
Charge for year 68,834 6,824 75,658
Transfer to ownership (148,589 ) - (148,589 )
At 30 September 2024 141,579 26,159 167,738
NET BOOK VALUE
At 30 September 2024 119,000 7,961 126,961
At 30 September 2023 110,401 14,785 125,186

5. STOCKS
2024 2023
£    £   
Bar stock 6,099 8,441
Catering stock 4,015 3,523
Sundry stock 13,205 12,766
Pro Shop stock 28,260 34,061
51,579 58,791

BETCHWORTH PARK GOLF CLUB (DORKING)
LIMITED (REGISTERED NUMBER: 00365609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,527 14,141
Other debtors 1,098 181
VAT 2,771 -
Prepayments 9,496 88,188
14,892 102,510

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 43,622 42,799
Loan notes 349,000 358,000
Hire purchase contracts (see note 9) 44,727 55,166
Trade creditors 80,840 69,650
Social security and other taxes 13,764 14,992
VAT - 3,177
Other creditors 126,182 116,335
Deferred income 658,981 682,913
Accrued expenses 55,565 10,676
1,372,681 1,353,708

Included in other creditors is an amount of £86,482 (2023: £83,422) owed to club members on their club cards.

The obligations under finance lease contracts are secured against the assets to which they relate.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

20242023
£ £
Debentures - more than 5 years7,50010,050
Mortgage - between 2 and 5 years62,86559,481
Bank loan - between 2 and 5 years20,00050,000
Mortgage - more than 5 years217,792234,798
Hire purchase contracts92,97291,551
Loan notes1,116,0001,101,000
1,517,1291,547,330

Amounts falling due in more than five years:

Debentures - more than 5 years7,50010,050
Mortgage - more than 5 years217,792234,798
225,292245,297

The two mortgages are being repaid over 25 years on a fixed rate agreement, starting on 28 February 2013 and 25 February 2014. Both these loans are secured on the freehold property.

The bank loan relates to the Coronavirus Business Interruption Loan scheme, which is to be repaid over 5 years. The loan is secured on the freehold property.

The redeemable debentures are secured by a charge on the assets of the company.

BETCHWORTH PARK GOLF CLUB (DORKING)
LIMITED (REGISTERED NUMBER: 00365609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 44,727 55,166
Between one and five years 92,972 91,551
137,699 146,717

Non-cancellable operating leases
2024 2023
£    £   
Within one year 1,483 1,483
Between one and five years 3,709 5,192
5,192 6,675

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,364 Ordinary £1 1,364 1,364

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2023 917,009 1,165,324 2,082,333
Profit for the year 167,257 167,257
At 30 September 2024 1,084,266 1,165,324 2,249,590

Retained Earnings includes amounts collected from the 100 Club members which is set aside by the company for use on projects as agreed by the 100 Club members only, and cannot be used without their express permission. The balance attributable to the 100 Club at the year end was £15,069. (2023: £9,589).

12. 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

13. RELATED PARTY DISCLOSURES

During the year all directors were members of the golf club and all paid fees at the appropriate rate, including subscriptions, pro-shop and bar charges.

BETCHWORTH PARK GOLF CLUB (DORKING)
LIMITED (REGISTERED NUMBER: 00365609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The Trustees of The Andy Kirk Trust.

15. PENSION COSTS

Defined contribution pension scheme
The company operates a defined contribution Group Personal Pension scheme. The assets of the scheme are held separately for each individual from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the fund and amounted to £35,053 (2023: £25,155) of which £4,717 (2023: £4,179) was due to the fund at the year end.