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REGISTERED NUMBER: 00395626 (England and Wales)















CREIGIAU GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2025






CREIGIAU GOLF CLUB LIMITED (REGISTERED NUMBER: 00395626)
COMPANY LIMITED BY GUARANTEE

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2025










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CREIGIAU GOLF CLUB LIMITED
COMPANY LIMITED BY GUARANTEE

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2025







DIRECTORS: Mr P Marley
Mr A Robinson
Mrs M Sparks
Mrs J Stamenkovic
Mr M A Baird
Mr A Gardner
Mr W Innes
Mr L Weeks
Mr P E Chappell
Mr D Mohamed





SECRETARY: Mr R Brookman





REGISTERED OFFICE: Creigiau Golf Club
Llantwit Road
Creigiau
Cardiff
CF15 9NN





REGISTERED NUMBER: 00395626 (England and Wales)





AUDITORS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

CREIGIAU GOLF CLUB LIMITED (REGISTERED NUMBER: 00395626)
COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION
31ST JANUARY 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,080,517 1,069,525
Investment property 5 260,000 -
1,340,517 1,069,525

CURRENT ASSETS
Stocks 11,405 14,929
Debtors 6 30,467 25,829
Cash at bank and in hand 99,126 123,678
140,998 164,436
CREDITORS
Amounts falling due within one year 7 213,993 216,560
NET CURRENT LIABILITIES (72,995 ) (52,124 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,267,522 1,017,401

CREDITORS
Amounts falling due after more than one year 8 41,630 20,000
NET ASSETS 1,225,892 997,401

RESERVES
Revaluation reserve 10 222,840 -
Income and expenditure account 1,003,052 997,401
1,225,892 997,401

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd April 2025 and were signed on its behalf by:




Mr W Innes - Director



Mr M A Baird - Director


CREIGIAU GOLF CLUB LIMITED (REGISTERED NUMBER: 00395626)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2025


1. STATUTORY INFORMATION

Creigiau 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 as modified by the revaluation of certain assets.

Turnover
Income is accounted for on a cash received basis other than to the extent that there are significant amounts of income, principally sources of membership income, received in respect of other accounting periods, which are then carried forward to one or more following accounting periods.

Turnover as shown in the statement of income and retained earnings comprises income from bar sales and is shown exclusive of Value Added Tax. Subscriptions and other income from members and third parties is shown as other operating income.

Tangible fixed 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. Course development capital expenditure is capitalised and included in fixed assets.

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:

Freehold buildings - 2% & 10% straight line
Plant & machinery - 33% reducing balance
Fixtures and Fittings - 15% straight line
Computer Equipment - 33% straight line

No depreciation is provided on freehold land or golf courses.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in surplus or deficit.

During the year, Fairways house was reclassified from Freehold Property to Investment Property to reflect the basis under which the property is held and letted out

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 year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


CREIGIAU GOLF CLUB LIMITED (REGISTERED NUMBER: 00395626)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2025


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
As at 31 January 2025, the company had net current liabilities of £72,995 (2024: net current liabilities of £52,124) after making a profit of £228,491 (2024: £33,940) in the year then ended, which includes a gain on revaluation of £222,840. Included within the company's current liabilities are deferred subscriptions of £80,855 (2024: £110,116) at the year-end.

The management committee has been working proactively and have revisited their forecasts and cash flows with regard to the current economic environment and putting measures in place to improve income streams and control spending. As a result, after making enquiries, the management committee believe they have a reasonable expectation that the company can build up adequate resources to allow the company to continue for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the company's financial statements.

There have been significant price increases resulting from the cost of living crisis and current economic uncertainty. It is difficult to accurately quantify the effects this will have on the company, but the management committee are committed to monitoring the situation closely and make timely decisions to reduce the impact.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 15 ) .

CREIGIAU GOLF CLUB LIMITED (REGISTERED NUMBER: 00395626)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2025


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1st February 2024 1,263,403 305,691 286,339
Additions 23,427 65,765 7,123
Disposals - - (100 )
Reclassification/transfer (57,375 ) - -
At 31st January 2025 1,229,455 371,456 293,362
DEPRECIATION
At 1st February 2024 255,296 270,495 261,865
Charge for year 8,208 31,077 8,476
Eliminated on disposal - - (25 )
Reclassification/transfer (20,215 ) - -
At 31st January 2025 243,289 301,572 270,316
NET BOOK VALUE
At 31st January 2025 986,166 69,884 23,046
At 31st January 2024 1,008,107 35,196 24,474

Cups & Computer
Trophies equipment Totals
£    £    £   
COST
At 1st February 2024 163 18,329 1,873,925
Additions - 694 97,009
Disposals - - (100 )
Reclassification/transfer - - (57,375 )
At 31st January 2025 163 19,023 1,913,459
DEPRECIATION
At 1st February 2024 - 16,744 804,400
Charge for year - 1,021 48,782
Eliminated on disposal - - (25 )
Reclassification/transfer - - (20,215 )
At 31st January 2025 - 17,765 832,942
NET BOOK VALUE
At 31st January 2025 163 1,258 1,080,517
At 31st January 2024 163 1,585 1,069,525

CREIGIAU GOLF CLUB LIMITED (REGISTERED NUMBER: 00395626)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2025


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Revaluations 222,840
Reclassification/transfer 37,160
At 31st January 2025 260,000
NET BOOK VALUE
At 31st January 2025 260,000

Fair value at 31st January 2025 is represented by:
£   
Valuation in 2025 260,000

If Fairways House had not been revalued it would have been included at the following historical cost:

2025 2024
£    £   
Cost 37,160 -

Fairways House was valued on an open market basis on 28th February 2024 by Watts & Morgan .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 1,600 -
Other debtors 28,867 25,829
30,467 25,829

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 15,000 15,000
Hire purchase contracts (see note 9) 14,784 2,500
Trade creditors 45,930 24,664
Taxation and social security 9,002 12,756
Other creditors 129,277 161,640
213,993 216,560

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 5,000 20,000
Hire purchase contracts (see note 9) 36,630 -
41,630 20,000

CREIGIAU GOLF CLUB LIMITED (REGISTERED NUMBER: 00395626)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2025


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2025 2024
£    £   
Net obligations repayable:
Within one year 14,784 2,500
Between one and five years 36,630 -
51,414 2,500

Non-cancellable operating leases
2025 2024
£    £   
Within one year 21,905 23,206
Between one and five years 45,180 67,301
67,085 90,507

10. RESERVES
Revaluation
reserve
£   
Revaluation in the year 222,840

At 31st January 2025 222,840

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

The Report of the Auditors was unqualified.

Farzana Ahmed (Senior Statutory Auditor)
for and on behalf of Carston ETL

Material uncertainty relating to going concern
We draw attention to note 2 in the financial statements, which indicates that, as at 31 January 2025, the company had net current liabilities of £72,995 (2024: net current liabilities of £52,124) after making a profit of £228,491 (2024: £33,940) in the year then ended, which includes a gain on revaluation of £222,840. Included within the company's current liabilities are deferred subscriptions of £80,855 (2024: £110,116) at the year-end.

The management committee are aware of the situation and, after making enquiries, are putting measures in place to improve income streams and control spending which they anticipate will build adequate resources to allow the company to continue operating for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the company's financial statements.

As stated in note 2, these events or conditions, along with the other matters as set forth in note 2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

CREIGIAU GOLF CLUB LIMITED (REGISTERED NUMBER: 00395626)
COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2025


12. CAPITAL COMMITMENTS
2025 2024
£    £   
Contracted but not provided for in the
financial statements 2,496 15,752

Prior to the year-end, the Club had committed to purchasing a new practice shed to cost £2,080 + VAT and had paid a deposit of £1,040 net, which is included in other debtors.