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REGISTERED NUMBER: 00093514 (England and Wales)












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 1,591,988 1,652,195

Current assets
Stocks 5 51,359 41,049
Debtors 6 37,800 38,921
Cash at bank and in hand 1,450,589 1,129,580
1,539,748 1,209,550
Creditors
Amounts falling due within one year 7 914,045 823,266
Net current assets 625,703 386,284
Total assets less current liabilities 2,217,691 2,038,479

Creditors
Amounts falling due after more than one
year

8

(80,773

)

(58,808

)

Provisions for liabilities 10 (2,664 ) (1,410 )

Accruals and deferred income 11 (80,919 ) (86,350 )
Net assets 2,053,335 1,891,911

Reserves
Income and expenditure account 12 2,053,335 1,891,911
2,053,335 1,891,911

Ganton Golf Club Limited (Registered number: 00093514)

Balance Sheet - continued
31 December 2024


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 13 February 2025 and were signed on its behalf by:




P Kirk - Director



D J Walker - Director


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 private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00093514

Registered office: Ganton Golf Club
Ganton
Scarborough
YO12 4PA

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 buildingsNo further depreciation
Post 1984 buildingsStraight line over 30 years
Irrigation and course improvements 10% straight line
Plant and machinery 20% straight line
Fixtures, fittings and equipment10% 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 22 (2023 - 23 ) .

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 1,456,259 1,442,222 355,619 3,254,100
Additions 35,207 195,340 20,943 251,490
Disposals - (105,437 ) - (105,437 )
At 31 December 2024 1,491,466 1,532,125 376,562 3,400,153
Depreciation
At 1 January 2024 390,293 961,435 250,177 1,601,905
Charge for year 59,629 211,660 23,181 294,470
Eliminated on disposal - (88,210 ) - (88,210 )
At 31 December 2024 449,922 1,084,885 273,358 1,808,165
Net book value
At 31 December 2024 1,041,544 447,240 103,204 1,591,988
At 31 December 2023 1,065,966 480,787 105,442 1,652,195

5. Stocks
2024 2023
£    £   
Bar & catering stocks 29,303 29,443
Other stocks 22,056 11,606
51,359 41,049

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 1,120 2,944
Other debtors 7,641 4,339
Prepayments and accrued income 29,039 31,638
37,800 38,921

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) 47,479 103,253
Trade creditors 68,238 36,293
Tax 6,407 5,340
Social security and other taxes 16,232 15,197
VAT 1,491 1,783
Subscriptions and green fees in advance 723,273 616,832
Other creditors 22,335 21,887
Deferred income 5,430 5,430
Accrued expenses 23,160 17,251
914,045 823,266

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Finance leases (see note 9) 80,773 58,808

9. Leasing agreements

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 47,479 103,253
Between one and five years 80,773 58,808
128,252 162,061

Non-cancellable operating leases
2024 2023
£    £   
Within one year 4,464 7,453
Between one and five years 8,976 7,065
13,440 14,518

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 1,891,911
Surplus for the year 161,424
At 31 December 2024 2,053,335

13. Disclosure under Section 444(5B) of the Companies Act 2006

The Auditors' Report was unqualified.

Timothy Jones FCA (Senior Statutory Auditor)
for and on behalf of Ashby Berry Coulsons Limited

14. Capital commitments
2024 2023
£    £   
Contracted but not provided for in the
financial statements 37,660 -