UCHITEL LTD

Company Registration Number:
12225950 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 1 October 2023

End date: 30 September 2024

UCHITEL LTD

Contents of the Financial Statements

for the Period Ended 30 September 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

UCHITEL LTD

Directors' report period ended 30 September 2024

The directors present their report with the financial statements of the company for the period ended 30 September 2024

Principal activities of the company

The principal activity of the Company remains that of ownership and management of Cams Hall Estate Golf Club.

Additional information

The loss for the year after taxation was £927k (2023: £237k profit). The loss is predominately due to a £0.4m non-recurring exceptional cost relating to abortive costs on a health club build due to the administration of the general contractor and a £0.6m deferred tax charge. The company paid no dividend during the year (2023: £Nil).



Directors

The directors shown below have held office during the whole of the period from
1 October 2023 to 30 September 2024

Richard Calvert
David Smith


Secretary Paul Wells

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
1 May 2025

And signed on behalf of the board by:
Name: David Smith
Status: Director

UCHITEL LTD

Profit And Loss Account

for the Period Ended 30 September 2024

2024 2023


£

£
Turnover: 2,291,521 1,586,393
Cost of sales: ( 215,708 ) ( 151,547 )
Gross profit(or loss): 2,075,813 1,434,846
Administrative expenses: ( 2,401,629 ) ( 1,163,855 )
Operating profit(or loss): (325,816) 270,991
Interest payable and similar charges: ( 20,206 ) 0
Profit(or loss) before tax: (346,022) 270,991
Tax: ( 580,691 ) ( 34,161 )
Profit(or loss) for the financial year: (926,713) 236,830

UCHITEL LTD

Balance sheet

As at 30 September 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 13,000,000 10,200,000
Total fixed assets: 13,000,000 10,200,000
Current assets
Stocks: 4 33,642 34,646
Debtors: 5 4,126 3,472
Cash at bank and in hand: 242,451 209,082
Total current assets: 280,219 247,200
Prepayments and accrued income: 6,023 18,964
Creditors: amounts falling due within one year: 6 ( 12,317,406 ) ( 6,158,778 )
Net current assets (liabilities): (12,031,164) (5,892,614)
Total assets less current liabilities: 968,836 4,307,386
Creditors: amounts falling due after more than one year: 7 ( 181,513 ) 0
Provision for liabilities: ( 715,408 ) ( 900,827 )
Total net assets (liabilities): 71,915 3,406,559
Capital and reserves
Called up share capital: 2 2
Other reserves: 2,407,930
Profit and loss account: 71,913 998,627
Total Shareholders' funds: 71,915 3,406,559

The notes form part of these financial statements

UCHITEL LTD

Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 1 May 2025
and signed on behalf of the board by:

Name: David Smith
Status: Director

The notes form part of these financial statements

UCHITEL LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for annual membership subscriptions, joining fees and other services supplied to external customers in the ordinary nature of the business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Turnover is shown net of Value Added Tax. The total turnover of the Company for the year has been derived entirely from its principal activity wholly undertaken in the United Kingdom.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation of each asset to its estimated residual value on a straight line basis over its expected useful life, as follows: Fixtures, fittings and equipment 10% to 20% Course improvements 10% Long leasehold property 2% Residual value is calculated on prices prevailing at the reporting date, after estimated costs of disposal, for the asset as if it were at the age and in the condition expected at the end of its useful life. They are reviewed annually and adjusted if necessary. Land and buildings are accounted for separately even when acquired together.

    Valuation information and policy

    Fixed assets were revalued as at 30 September 2024 by the independent valuers Colliers, Chartered Surveyors, being members of the Royal Institution of Chartered Surveyors. The directors have considered this value, recognising the impact of any capital investment since the valuation (less subsequent depreciation), the impact of any strategic direction changes and development potential. The Directors adopted these values and have adjusted fixed asset values accordingly as detailed in the accounts. Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value. Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity, such gains and loss are recognised in profit or loss.

    Other accounting policies

    Going concern The Company forms part of the larger Club Company Group and the Directors assess Going Concern as part of the wider Group. The Company has ongoing financial support from companies within the Group if required. In that context, in the year ended 30th September 2024, the Directors prepared forecasts and projections taking account of reasonable possible changes in trading fo the Group performance. These forecasts and projections show that the Company has the financial resources to continue in operational existence for the foreseeable future. Accordingly, at the time of approving the financial statements, the Directors are confident that the Company has adequate resources to continue in operational existence for the foreseeable future, and there is no material uncertainty in relation to going concern.

UCHITEL LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 43 28

    The directors’ remuneration was paid by a fellow subsidiary company.

UCHITEL LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 October 2023 9,907,761 106,432 209,833 41,955 34,299 10,300,280
Additions 5,302,763 303,648 655,841 46,160 0 6,308,412
Disposals
Revaluations 3,403,781 3,403,781
Transfers
At 30 September 2024 11,806,743 410,080 865,674 88,115 34,299 13,204,911
Depreciation
At 1 October 2023 0 17,653 36,520 24,713 21,394 100,280
Charge for year 202,461 32,855 47,709 14,455 9,612 307,092
On disposals
Other adjustments 202,461 202,461
At 30 September 2024 0 50,508 84,229 39,168 31,006 204,911
Net book value
At 30 September 2024 11,806,743 359,572 781,445 48,947 3,293 13,000,000
At 30 September 2023 9,907,761 88,779 173,313 17,242 12,905 10,200,000

Long leasehold property was revalued as at 30 September 2024 by independent valuers Colliers, Chartered Surveyors, being members of the Royal Institution of Chartered Surveyors. The directors have considered this value, recognising the impact of any capital investment since the valuation (less subsequent depreciation), the impact of any strategic direction changes and development potential. The directors have adjusted fixed asset values accordingly resulting in a valuation at 30 September 2024 of £13.0m. Included in fixed assets within fixtures,fittings & equipment, are fixed assets with a net book value of £234k (2023: £Nil) which are held under finance leases (hire purchase). The depreciation charge for the year includes £19k (2023: £Nil) in respect of assets held under finance leases (hire purchase).

UCHITEL LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Stocks

2024 2023
£ £
Stocks 33,642 34,646
Total 33,642 34,646

UCHITEL LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Debtors

2024 2023
£ £
Trade debtors 4,126 3,472
Total 4,126 3,472

UCHITEL LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Amounts due under finance leases and hire purchase contracts 43,527 0
Trade creditors 54,469 821,710
Accruals and deferred income 605,481 341,694
Other creditors 11,613,929 4,995,374
Total 12,317,406 6,158,778

Other creditors includes amounts due to fellow subsidiaries.

UCHITEL LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Amounts due under finance leases and hire purchase contracts 181,513 0
Total 181,513 0

UCHITEL LTD

Notes to the Financial Statements

for the Period Ended 30 September 2024

8. Financial Commitments

The total future minimum lease payments under non-cancellable operating leases are as follows: 2024 Within one year £17k Between one year and five years £48k After five years £nil 2023 Within one year £3k Between one year and five years £63k After five years £nil