| REGISTERED NUMBER: |
| Audited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Ganton Golf Club Limited |
| REGISTERED NUMBER: |
| Audited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Ganton Golf Club Limited |
| Ganton Golf Club Limited (Registered number: 00093514) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Ganton Golf Club Limited (Registered number: 00093514) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| Provisions for liabilities | 10 | ( |
) | ( |
) |
| Accruals and deferred income | 11 | ( |
) | ( |
) |
| Net assets |
| Reserves |
| Income and expenditure account | 12 |
| Ganton Golf Club Limited (Registered number: 00093514) |
| Balance Sheet - continued |
| 31 December 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Ganton Golf Club Limited (Registered number: 00093514) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | Statutory information |
| Ganton Golf Club Limited is a |
| Registered number: |
| Registered office: |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
| Land and pre-1984 buildings | No further depreciation |
| Post 1984 buildings | Straight line over 30 years |
| Irrigation and course improvements | 10% straight line |
| Plant and machinery | 20% straight line |
| Fixtures, fittings and equipment | 10% or 20% straight line |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Ganton Golf Club Limited (Registered number: 00093514) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 2. | Accounting policies - continued |
| Debtors and creditors receivable / payable within one year |
| 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. |
| 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. |
| Provisions |
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
| Ganton Golf Club Limited (Registered number: 00093514) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 2. | Accounting policies - continued |
| Leases |
| Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. |
| Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
| Tax |
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Turnover and other income |
| The turnover and other operating income arises from the usual activities of a golf club. Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. |
| Grants and donations are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model. |
| Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established. |
| Irrecoverable VAT |
| In common with other similar organisations, the Club is partially exempt for VAT. Expenditure includes any associated irrecoverable input VAT on an item by item basis. |
| Employee benefits |
| When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. |
| The company makes pension contributions on behalf of employees to either their personal pension scheme or to a designated auto-enrolment scheme and also to a group life assurance scheme. Contributions are charged to the income and expenditure account as they become payable. |
| Going concern |
| The financial statements have been prepared on a going concern basis because the directors believe that no material uncertainties exist. The directors expect that the income which will be received going forward, together with the Club's existing reserves, will be sufficient to enable it to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| Ganton Golf Club Limited (Registered number: 00093514) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 4. | Tangible fixed assets |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | Stocks |
| 2024 | 2023 |
| £ | £ |
| Bar & catering stocks |
| Other stocks | 22,056 | 11,606 |
| 6. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| Ganton Golf Club Limited (Registered number: 00093514) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 7. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Finance leases (see note 9) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 1,491 | 1,783 |
| Subscriptions and green fees in advance |
| Other creditors | 22,335 | 21,887 |
| Deferred income |
| Accrued expenses |
| 8. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Finance leases (see note 9) |
| 9. | Leasing agreements |
| Minimum lease payments fall due as follows: |
| Finance leases |
| 2024 | 2023 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable | operating leases |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| Payments recognised as an expense | 4,464 | 8,578 |
| Ganton Golf Club Limited (Registered number: 00093514) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 10. | Provisions for liabilities |
| 2024 | 2023 |
| £ | £ |
| Other provisions |
| Provision for irrecoverable VAT | 2,664 | 1,410 |
| The VAT partial exemption calculation used during the financial year is based on the previous year's percentage of recoverable VAT. As the VAT year runs from April to March, a provision is made to allow for a different percentage applying to the remaining months of the year. |
| 11. | Accruals and deferred income |
| 2024 | 2023 |
| £ | £ |
| Deferred income | 80,919 | 86,350 |
| Donations have been received in previous years from Ganton Trust and other donors for refurbishment projects. The related costs have been capitalised, with annual depreciation being charged at the appropriate rate. The annual depreciation charge is offset by an annual release from deferred income. |
| 12. | Reserves |
| Income |
| and |
| expenditure |
| account |
| £ |
| At 1 January 2024 |
| Surplus for the year |
| At 31 December 2024 |
| 13. | Disclosure under Section 444(5B) of the Companies Act 2006 |
| The Auditors' Report was unqualified. |
| for and on behalf of |
| 14. | Capital commitments |
| 2024 | 2023 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |