Company Registration No. 00805697 (England and Wales)
Leyland Golf Club Limited
Company Limited by Guarantee
Annual Report and Financial Statements
For the Year Ended
31 March 2025
PAGES FOR FILING WITH REGISTRAR
LEYLAND GOLF CLUB LIMITED
Leyland Golf Club Limited
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
1,871,296
1,678,350
Current assets
Inventories
34,566
16,833
Trade and other receivables
5
26,100
39,539
Cash and cash equivalents
330,424
424,248
391,090
480,620
Current liabilities
6
(282,996)
(215,043)
Net current assets
108,094
265,577
Total assets less current liabilities
1,979,390
1,943,927
Non-current liabilities
7
(187,144)
(86,723)
Net assets
1,792,246
1,857,204
Reserves
Members' guarantee fund
537
499
Income and expenditure account
1,791,709
1,856,705
Members' funds
1,792,246
1,857,204
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 16 June 2025 and are signed on its behalf by:
M Caunce
Director
Company Registration No. 00805697
LEYLAND GOLF CLUB LIMITED
Leyland Golf Club Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information
Leyland Golf Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Club House, Wigan Road, Leyland, Lancashire, United Kingdom, PR25 2UD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Income comprises of the bar and catering income, based on cash takings received during the year, net of VAT.
1.3
Other operating income
Other income includes subscriptions, competition fees, lottery, green fees, practice ground, room hire, sponsorship, and rental.
Subscription and lottery income is recognised in the financial statements over the period to which the income relates.
Other income is included in the financial statements as it becomes receivable or due.
Income received for life membership has been accounted for as deferred income. The income will be released to the income and expenditure account over a period based on an estimate of how long a life member will continue to receive benefits from the company.
LEYLAND GOLF CLUB LIMITED
Leyland Golf Club Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.4
Property, plant and equipment
Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Clubhouse
1% straight line
Course development
10-40 years straight line
Plant & machinery etc
10% reducing balance/5-25% straight line
Included in course development is the car park which is depreciated at 10% reducing balance. Leased assets are depreciated over the life of the lease. Freehold land is not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.
1.5
Impairment of non-current assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
Inventories
Inventories are stated at the lower of cost and estimated selling price less costs to sell after making allowance for obsolete and slow moving items. Bar provisions are valued by an external stocktaker whilst the prizes and course stock is valued by club officials.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
LEYLAND GOLF CLUB LIMITED
Leyland Golf Club Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments
The company only has financial assets (debtors, cash and bank balances) and liabilities (creditors and accruals) of a kind that qualify as basic financial instruments. They are initially recognised at transaction value and subsequently measured at their settlement value.
1.8
Taxation
The company is subject to Corporation Tax on its non-member income. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.9
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
1.12
Surplus/(deficit) income and expenditure is transferred to the members' funds, some of which is administered by individual sections within the club.
2
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
6,150
5,700
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 16 (2024 - 16).
2025
2024
Number
Number
Total
16
16
LEYLAND GOLF CLUB LIMITED
Leyland Golf Club Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
4
Property, plant and equipment
Land and buildings
Plant and machinery etc
Course develop- ment
Total
£
£
£
£
Cost
At 1 April 2024
1,686,845
946,351
845,599
3,478,795
Additions
298,098
30,146
328,244
Disposals
(52,799)
(52,799)
At 31 March 2025
1,686,845
1,191,650
875,745
3,754,240
Depreciation and impairment
At 1 April 2024
610,234
590,297
599,914
1,800,445
Depreciation charged in the year
8,418
98,028
27,843
134,289
Eliminated in respect of disposals
(51,790)
(51,790)
At 31 March 2025
618,652
636,535
627,757
1,882,944
Carrying amount
At 31 March 2025
1,068,193
555,115
247,988
1,871,296
At 31 March 2024
1,076,611
356,054
245,685
1,678,350
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
2025
2024
£
£
Plant & machinery
309,780
124,393
Depreciation charge for the year in respect of leased assets
53,116
40,202
National Westminster Bank Plc and Whitbread and Company Plc hold a charge over all assets of the company for all monies due or to become due from the company to the charge on any account whatsoever. At the year end no monies were owed to either party.
5
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
250
2,094
Other receivables
300
5,570
Prepayments and accrued income
25,550
31,875
26,100
39,539
LEYLAND GOLF CLUB LIMITED
Leyland Golf Club Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
6
Current liabilities
2025
2024
£
£
Obligations under finance leases
81,735
36,431
Trade payables
46,721
18,705
Taxation and social security
7,280
5,862
Other payables
48,020
50,848
Accruals and deferred income
99,240
103,197
282,996
215,043
Finance lease agreements totalling £81,735 (2024: £36,431) falling due within one year are secured over the assets to which they relate.
7
Non-current liabilities
2025
2024
Notes
£
£
Obligations under finance leases
178,692
78,211
Other payables
8,243
7,522
Accruals and deferred income
209
990
187,144
86,723
Finance lease agreements totalling £178,692 (2024: £78,211) falling due after one year are secured over the assets to which they relate.
8
Members' liability
The company is limited by guarantee and does not have share capital. Every full member of the club is obliged as a condition of membership, to guarantee to pay a sum up to, but not exceeding £10 in the event of the company being wound up with a deficit of assets against liabilities, either during their membership or within one year of ceasing to be a member.
One pound of guarantee is paid by each member on registration as a guarantor of the company and this one pound forms part of the Members' Guarantee Fund. It is not repayable.
The members commitment on uncalled guarantees amounts to £4,833 (2024: £4,491) in the event of winding up the company.
During the year 51 members resigned their membership and 89 new members contributed £1 each to the Members' Guarantee Fund as a condition of membership.
LEYLAND GOLF CLUB LIMITED
Leyland Golf Club Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Julie Flintoff BA(Hons) FCA.
The auditor was Azets Audit Services.
10
Operating lease commitments
Lessee
At 31 March 2025 the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, including the course rental for its full lease term to 2054 as follows:
2025
2024
£
£
Within one year
41,000
43,580
Between two and five years
162,833
163,833
In over five years
953,333
993,333
1,157,166
1,200,746
11
Related party transactions
Free membership
The Captain, Vice Captain, Ex Captain, Lady Captain, Vice Lady Captain, Junior Captain, Treasurer, President, and Chairman, received a free full year's membership in recognition of their services to the club.
12
Long term members funds
At 1 March 2024
Surplus/(deficit) for the year
At 31 March 2025
£
£
£
Long term members funds
General fund
1,841,582
(64,947)
1,776,635
Ladies fund
8,295
17
8,312
Seniors fund
6,828
(66)
6,762
1,856,705
(64,996)
1,791,709