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Registered number: 01177445
Branston Golf & Country Club Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 30 June 2024
Nuvo Accountancy Limited
Chartered Certified Accountants
Contents
Page
Strategic Report 1—2
Directors' Report 3
Independent Auditor's Report 4—7
Profit and Loss Account 8
Statement of Comprehensive Income 9
Balance Sheet 10
Statement of Changes in Equity 11
Statement of Cash Flows 12
Notes to the Statement of Cash Flows 13
Notes to the Financial Statements 14—23
Page 1
Strategic Report
The directors present their strategic report for the year ended 30 June 2024.
Principal Activity
The company's principal activity continues to be that of a leisure and hospitality venue including golf courses, health and fitness, clubhouse and events.
Review of the Business
The company enjoyed a strong year of growth both in revenue and operating profit which was in the main due to robust membership numbers particularly in Health and Fitness. The banqueting arm of the business also enjoyed strong year on year growth underpinned by weddings and christmas parties. Overall membership numbers remained robust which in turn helped to drive sales through the Clubhouse food and beverage operation.
Due to the exceptionally wet and extreme weather over the winter, there were periods of flooding on the golf course in the winter months. This had a small impact on income but did affect the golf membership renewal in the Spring and this remains a risk to the business.
In common with other UK businesses and the hospitality sector in particular, Branston continues to face cost pressures on utilities. Solutions such as solar energy generation are being put in place to mitigate energy cost increases. Payroll remains a cost challenge in the business due to the Government imposed national minimum wage increases which impact hospitality in particular as well as food and beverage inflationary increases.
The business continues to invest in the facilities and infrastructure to maintain the high standards of product and service. A planning application has been submitted for 3 Padel Tennis outdoor courts, and this will add a further profitable income stream to the business.
The multiple income streams within the business ensures flexibility in driving income throughout the year and ensures we are not totally at the mercy of seasonality. 
Principal Risks and Uncertainties
The key risk areas of the company are:
Social and demographic
Maintaining sales and operating profit while taking into consideration lifestyle changes and changes to fashion and trends.
Weather & Climate
Managing changes to the climate with the liklihood of milder and wetter winters causing more frequent flooding events across the floodplain on which the business is located.
Economic
Maintaining profitability despite changes in disposable income and changes in consumer habits due to the economic cycle, particularly during the current cost of living crisis.
Operational
Maintaining profitability despite the changeable British weather, which can impact on the golf division, and volatile supply chain issues for foodstuffs, energy and supply of labour.
Finance
Maintaining and improving the assets, services and products of the company, whilst not having a detrimental effect on cash flows and profitability.
Legislative
Maintaining profitability whilst balancing service provision and customer expectations against legislative increases to the national living wage, health and safety requirements.
Competition
New competitors entering the industry or existing competitors changing their objectives.
The company seeks to manage as far as possible the key risks that it faces by continually investing in the assets of the company while improving the services and products it offers.
Having considered the above risks and uncertainties, the directors are confident that the company has adequate resources to continue investing and developing into the future. Therefore, they continue to adopt the going concern basis of accounting in preparation of the financial statements.
The directors, therefore, remain cautiously optimistic for an improved financial result for the year to June 2025.
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Page 2
Key performance indicators
In line with our strategic objectives, we have identified key financial performance metrics that provide insight into the company's growth and profitability. The key indicators we monitor include turnover, operating profit and key category membership numbers for the main revenue drivers. These KPls are critical in assessing our operational efficiency, cost management, and revenue generation capabilities.
Key Category Members
2024
2023
Championship golf course
649
740
Health and fitness
1,635
1,566
Key Financial Metrics
2024
2023
£
£
Turnover
4,320,130
3,994,013
Operating profit
307,356
182,268
On behalf of the board
Mr Benjamin Laing
Director
16 July 2025
Page 2
Page 3
Directors' Report
The directors present their report and the financial statements for the year ended 30 June 2024.
Directors
The directors who held office during the year were as follows:
Mr Stephen Sharp
Mrs Francesca Sharp
Mrs Abby Litting
Mr Marcus Litting
Mr Benjamin Laing
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Independent Auditors
The auditors, Nuvo Audit Limited, is deemed to be re-appointed under section 487(2) of the Companies Act 2006.
On behalf of the board
Mr Benjamin Laing
Director
16 July 2025
Page 3
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Independent Auditor's Report
Opinion
We have audited the financial statements of Branston Golf & Country Club Limited for the year ended 30 June 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit/(loss) for the year then ended;
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
  • have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
  • the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.
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Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
  • the financial statements are not in agreement with the accounting records or returns; or
  • certain disclosures of directors' remuneration specified by law are not made; or
  • we have not received all the information and explanations we require for our audit.
Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
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Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
The Company is subject to many laws and regulations within the country it operates, where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements. We identified the following laws and regulations as the most likely to have a material effect if non-compliance were to occur; financial reporting legislation, Companies Act legislation, tax legislation, anti-bribery legislation and employment law;
We communicated relevant laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit;
We understood how the Company is complying with those legal and regulatory frameworks by making enquiries of management. We corroborated our enquiries through our review of board minutes;
We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur by meeting with employees from different parts of the business to understand where it is considered there was susceptibility to fraud. We also considered performance targets and their propensity to influence efforts made by management to manage earnings. We considered the programs and controls that the Company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programs and controls. Where the risk was considered to be higher, we performed audit procedures to addressed identified fraud risk;
Our audit procedures involved: journal entry testing, with a focus on manual credits to revenue and journals indicating large or unusual transactions based on our understanding of the business and enquiries of management. In addition, we completed audit procedures to conclude on the compliance of disclosures in the annual report and accounts with applicable financial reporting requirements; 
Assessment and appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team’s:
  • Knowledge of the industry in which the client operates
  • Understanding the legal and regulatory requirements specific to the entity including:
  • The provisions of the applicable legislation
  • The regulators rules and related guidance, including guidance issued by relevant authorities that interprets those rules
  • The provisions of the applicable legislation
  • The regulators rules and related guidance, including guidance issued by relevant authorities that interprets those rules
  • The applicable statutory provisionsIn assessing the potential risks of material misstatement, we obtained an understanding of:
  • The entity’s operations, including the nature of its revenue sources, products and services and of its objectives and strategies to understand classes of transactions, account balances, expected financial statement disclosures and business risks that may result in risks of material misstatement. 
  • The entity’s control environment, including policies and procedures implemented to comply with the entity’s relevant regulatory requirements, including the adequacy of procedures for authorisation of transactions, internal review procedures over the entity’s compliance with regulatory requirements and procedures to ensure that possible breaches of requirements are appropriately investigated and reported. 
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
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Mr Daniel Johnson FCCA (Senior Statutory Auditor)
for and on behalf of Nuvo Audit Limited , Statutory Auditor
16 July 2025
Nuvo Audit Limited
First Floor, Sterling House
Outrams Wharf
Little Eaton
Derby
DE21 5EL
Page 7
Page 8
Profit and Loss Account
2024 2023
as restated
Notes £ £
TURNOVER 3 4,320,130 3,994,013
Cost of sales (2,115,057 ) (2,014,888 )
GROSS PROFIT 2,205,073 1,979,125
Administrative expenses (1,931,178 ) (1,833,196 )
Other operating income 16,296 31,904
OPERATING PROFIT 5 290,191 177,833
Profit on disposal of fixed assets 5,615 -
Interest payable and similar charges 10 (239,029 ) (236,391 )
PROFIT/(LOSS) BEFORE TAXATION 56,777 (58,558 )
Tax on Profit/(loss) 11 (52,700 ) 46,812
PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR 4,077 (11,746 )
The notes on pages 13 to 23 form part of these financial statements.
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Page 9
Statement of Comprehensive Income
2024 2023
as restated
£ £
PROFIT FOR THE FINANCIAL YEAR 4,077 (11,746 )
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 4,077 (11,746 )
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Balance Sheet
Registered number: 01177445
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 13 4,953,606 4,998,497
4,953,606 4,998,497
CURRENT ASSETS
Stocks 14 34,070 34,144
Debtors 15 773,572 701,085
Cash at bank and in hand 311,480 220,356
1,119,122 955,585
Creditors: Amounts Falling Due Within One Year 16 (1,919,615 ) (1,952,440 )
NET CURRENT ASSETS (LIABILITIES) (800,493 ) (996,855 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,153,113 4,001,642
Creditors: Amounts Falling Due After More Than One Year 17 (2,692,925 ) (2,545,531 )
NET ASSETS 1,460,188 1,456,111
CAPITAL AND RESERVES
Called up share capital 21 276,989 276,989
Share premium account 1,115,643 1,115,643
Profit and Loss Account 67,556 63,479
SHAREHOLDERS' FUNDS 1,460,188 1,456,111
On behalf of the board
Mr Benjamin Laing
Director
16 July 2025
The notes on pages 13 to 23 form part of these financial statements.
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Statement of Changes in Equity
Share Capital Share Premium Profit and Loss Account Total
£ £ £ £
As at 1 July 2022 276,989 1,115,643 75,225 1,467,857
Loss for the year and total comprehensive income - - (11,746 ) (11,746)
As at 30 June 2023 and 1 July 2023 as restated 276,989 1,115,643 63,479 1,456,111
Profit for the year and total comprehensive income - - 4,077 4,077
As at 30 June 2024 276,989 1,115,643 67,556 1,460,188
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Statement of Cash Flows
2024 2023
as restated
Notes £ £
Cash flows from operating activities
Net cash generated from/(used in) operations 1 606,610 (69,293 )
Net cash generated from/(used in) operating activities 606,610 (69,293 )
Cash flows from investing activities
Purchase of tangible assets (286,653 ) (319,411 )
Proceeds from disposal of tangible assets 5,615 -
Net cash used in investing activities (281,038 ) (319,411 )
Cash flows from financing activities
Proceeds from new bank borrowings 340,000 1,094,154
Repayment of bank borrowings (193,112 ) (233,279 )
Repayment of finance leases (142,307 ) (138,206 )
Interest paid on Investing activities (239,029) (236,391)
Net cash (used in)/generated from financing activities (234,448 ) 486,278
Increase in cash and cash equivalents 91,124 97,574
Cash and cash equivalents at beginning of year 2 220,356 122,782
Cash and cash equivalents at end of year 2 311,480 220,356
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Notes to the Statement of Cash Flows
1. Reconciliation of profit/(loss) for the financial year to cash generated from/(used in) operations
2024 2023
as restated
£ £
Profit/(loss) for the financial year 4,077 (11,746 )
Adjustments for:
Tax on profit/(loss) 52,700 (46,812 )
Interest expense 239,029 236,391
Depreciation of tangible assets 331,544 328,452
Profit on disposal of tangible assets (5,615) -
Movements in working capital:
Decrease/(increase) in stocks 74 (1,940 )
Increase in trade and other debtors (125,187 ) (428,437 )
Increase/(decrease) in trade and other creditors 109,988 (145,201 )
Net cash generated from/(used in) operations 606,610 (69,293 )
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
as restated
£ £
Cash at bank and in hand 311,480 220,356
3. Analysis of changes in net debt
As at 1 July 2023 Cash flows As at 30 June 2024
£ £ £
Cash at bank and in hand 220,356 91,124 311,480
Finance leases (336,555) 6,651 (329,904)
Debts falling due within one year (180,125 ) 19,752 (160,373 )
Debts falling due after more than one year (2,320,970) (166,640) (2,487,610)
(2,617,294) (49,113) (2,666,407)
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Notes to the Financial Statements
1. General Information
Branston Golf & Country Club Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01177445 . The registered office is Burton Road, Branston, Burton-On-Trent, DE14 3DP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Significant judgements and estimations
The preparation of the financial statements in conformity with generally accepted accounting principles requires the directors to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. In this regard, the Directors believe that the .critical accounting policies where judgements or estimating are necessarily applied are summarised below.
Deferred Income
Income is generated from membership fees that are paid in advance of annual membership. Depending upon the time the membership is created, there would be an element of deferred income generated.
Depreciation and residual values
The directors have reviewed the asset lives and associated residual values of all fixed asset classes, and in particular, the useful economic life and residual values of plant and machinery, and have concluded that asset lives and residual values are appropriate.
2.4. Turnover
Revenue is recognised when it is probable that the economic benefits will flow to the company and the amount can be measured reliably.
  • Membership subscriptions are recognised over the period to which they relate. Annual subscriptions received in advance are deferred and released to income monthly over the membership term.
  • Facility usage fees, such as green fees or gym day passes, are recognised at the point of use.
  • Income from clubhouse sales, including food, drink, and merchandise, is recognised at the point of sale.
  • Event income is recognised when the event takes place. Deposits received in advance are recorded as deferred income until the service is provided.
All revenue is stated net of VAT where applicable.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Land Not depreciated
Leasehold Over the term of the lease
Plant & Machinery 15% straight line
Fixtures & Fittings 10% straight line
Freehold relates to Freehold Land and is therefore not depreciated.
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2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.8. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.9. Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2.10. Interest Payable
Interest payable is recognised in the profit and loss account on an accruals basis, using the effective interest method. Interest costs are expensed in the period to which they relate, regardless of the timing of cash payments.
2.11. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.12. Provisions and Contingencies
Provisions
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.
Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.
Contingencies
Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.
Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.
2.13. Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2.14. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Turnover
In accordance with UKSI 2008/410, schedule 1, paragraph 68, the company has not disclosed an analysis of turnover by class of business as the directors are of the opinion it would be seriously prejudicial to the interests of the company.
Analysis of turnover by geographical market is as follows:
2024 2023
as restated
£ £
United Kingdom 4,320,130 2,400,427
4,320,130 2,400,427
4. Other Operating Income
2024 2023
as restated
£ £
Rental income 16,296 31,904
16,296 31,904
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5. Operating Profit
The operating profit is stated after charging:
2024 2023
as restated
£ £
Bad debts 543 -
Depreciation of tangible fixed assets 331,544 328,452
6. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
as restated
£ £
Audit Services
Audit of the company's financial statements 12,000 -
Other Services
Other non-audit services 6,000 6,000
7. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
as restated
£ £
Wages and salaries 1,576,328 1,494,127
Social security costs 118,525 111,219
Other pension costs 44,029 46,612
1,738,882 1,651,958
8. Average Number of Employees
Average number of employees, including directors, during the year was: 121 (2023: 112)
121 112
9. Directors' remuneration
2024 2023
as restated
£ £
Emoluments 52,946 50,553
Company contributions to money purchase pension schemes 6,960 5,150
59,906 55,703
The number of directors to whom retirement benefits were accruing was as follows:
2024 2023
as restated
Money purchase pension schemes 1 1
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10. Interest Payable and Similar Charges
2024 2023
as restated
£ £
Bank loans and overdrafts 206,461 215,986
Finance charges payable under finance leases and hire purchase contracts 25,013 18,298
Other finance charges 7,555 2,107
239,029 236,391
11. Tax on Profit
The tax charge/(credit) on the profit/(loss) for the year was as follows:
Tax Rate 2024 2023
as restated
2024 2023 £ £
Current tax
UK Corporation Tax 25.0% 25.0% - -
Deferred Tax
Deferred taxation 52,700 (16,406 )
Changes in tax rates - (30,406 )
52,700 (46,812)
Total tax charge for the period 52,700 (46,812 )
The actual charge/(credit) for the year can be reconciled to the expected charge/(credit) for the year based on the profit/(loss) and the standard rate of corporation tax as follows:
2024 2023
£ £
Profit before tax 56,777 (58,558)
Tax on profit at 25% (UK standard rate) 14,194 (14,639 )
Goodwill/depreciation not allowed for tax 24,270 22,612
Short term timing differences 14,236 (24,379 )
Difference in tax rates - (30,406 )
Total tax charge for the period 52,700 (46,812)
12. Prior Period Adjustment
During the year, the company identified that certain amounts previously recognised as trade debtors related to internal departmental meetings and events, which had been processed through the till system as sales despite no external income being received or receivable.
These transactions arose from internal cross-charges for catering and hospitality where departments booked services through the point-of-sale system, but no corresponding cash or external payment was ever due. As a result, these amounts did not meet the recognition criteria for revenue or trade receivables under FRS 102.
A prior year adjustment has been made to correct the overstatement of trade debtors and turnover in the prior year. Comparative figures have been restated accordingly. The impact of the adjustment is as follows:
   Reduction in brought-forward trade debtors of £180,207
   Reduction in brought-forward retained earnings of £180,207
   Reduction in prior year turnover of £16,626
...CONTINUED
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12. Prior Period Adjustment - continued
This adjustment has no impact on cash flows or the current year financial performance.
During the year, the company reviewed it's deferred tax position in light of improved trading forecasts and greater certainty regarding the future utilisation of carried-forward trading losses. As a result of this assessment, it was concluded that a deferred tax asset should be recognised in respect of these previously unrecognised tax losses.
The deferred tax asset of £96,286 has therefore been recognised as at 30 June 2022, the earliest period presented. The recognition of this asset gives rise to a prior year adjustment, and the comparative figures for the year ended 30 June 2023 have been restated accordingly. The impact of the adjustment is as follows:
  Inclusion of a brought-forward other debtors of £143,098
  Increase in brought-forward retained earnings of £143,098
  Deferred Tax credit to the profit and loss of £46,812
This adjustment has no impact on cash flows or the current year financial performance.
13. Tangible Assets
Land & Property
Freehold Land Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 July 2023 104,954 6,861,998 2,381,838 1,126,026 10,474,816
Additions - 70,558 160,590 55,505 286,653
Disposals - - (72,919 ) - (72,919 )
As at 30 June 2024 104,954 6,932,556 2,469,509 1,181,531 10,688,550
Depreciation
As at 1 July 2023 - 2,991,024 1,851,017 634,278 5,476,319
Provided during the period - 97,081 159,345 75,118 331,544
Disposals - - (72,919 ) - (72,919 )
As at 30 June 2024 - 3,088,105 1,937,443 709,396 5,734,944
Net Book Value
As at 30 June 2024 104,954 3,844,451 532,066 472,135 4,953,606
As at 1 July 2023 104,954 3,870,974 530,821 491,748 4,998,497
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
as restated
£ £
Plant & Machinery 379,063 320,205
Fixtures & Fittings 70,817 73,933
449,880 394,138
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14. Stocks
2024 2023
as restated
£ £
Stock 34,070 34,144
15. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 35,859 38,406
Amounts owed by group undertakings 509,210 409,210
Other debtors 228,503 253,469
773,572 701,085
16. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 124,589 111,994
Trade creditors 206,677 223,877
Bank loans and overdrafts 160,373 180,125
Other creditors 231,919 191,165
Taxation and social security 305,973 332,964
Accruals and deferred income 890,084 912,315
1,919,615 1,952,440
17. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 205,315 224,561
Bank loans 2,487,610 2,320,970
2,692,925 2,545,531
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
as restated
£ £
Bank loans 1,759,633 1,877,696
Of the creditors the following amounts are secured.
2024 2023
as restated
£ £
Bank loans and overdrafts 2,647,983 2,501,095
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The company has a loan facilty that is repayable by instalments over a 15 year period and matures in 2037. The interest rate being charged is 3.1% above the Bank of England Base Rate. The balance of this loan is £1,777,559 at 30 June 2024.
The company has a loan facilty that is repayable by instalments over a 10 year period and matures in 2032. The interest rate being charged is 3.1% above the Bank of England Base Rate. The balance of this loan is £505,424 at 30 June 2024.
The company has a loan facilty that is repayable by instalments over a 10 year period and matures in 2034. The interest rate being charged is 3.1% above the Bank of England Base Rate. The balance of this loan is £340,000 at 30 June 2024.
All three bank loan facilities are secured by a fixed charge over freehold and leasehold land and buildings and a floating charge over all assets and undertakings present and future.
18. Loans
An analysis of the maturity of loans is given below:
2024 2023
as restated
£ £
Amounts falling due within one year or on demand:
Bank loans 160,373 180,125
2024 2023
as restated
£ £
Amounts falling due between one and five years:
Bank loans 727,977 443,274
2024 2023
as restated
£ £
Amounts falling due after more than five years:
Bank loans 1,759,633 1,877,696
19. Obligations Under Finance Leases and Hire Purchase
2024 2023
as restated
£ £
The future minimum finance lease payments are as follows:
Not later than one year 161,841 130,836
Later than one year and not later than five years 234,921 265,226
396,762 396,062
Less: Finance charges allocated to future periods 66,858 59,507
329,904 336,555
The future finance charges represent the total interest that will accrue over the remaining term of the agreements and will be expensed to the profit and loss account over the life of the contracts using the effective interest method.
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20. Deferred Taxation
2024
£
At beginning of year
(143,098)
Charged to profit or loss
52,700
image
(90,398)
image
The provision for deferred tax is made up as follows:
2024
£
Accelerated Capital Allowances
237,522
Tax losses carried forward and other deductions
(327,920)
image
(90,398)
image
21. Share Capital
2024 2023
as restated
Allotted, called up and fully paid £ £
276,989 Ordinary Shares of £ 1.000 each 276,989 276,989
22. Financial Instruments
The company has the following financial instruments:
2024 2023
as restated
£ £
Financial assets
Financial assets measured at fair value through profit and loss 856,549 667,972
Financial liabilities
Financial liabilities measured at fair value through profit and loss 484,665 472,957
Financial liabilities measured at amortised cost 2,977,887 2,837,650
Financial assets measured at fair values through the profit and loss comprise trade and other debtors, amounts due from group undertakings and cash and cash equivalents (see note 15).
Financial liabilities measured at fair values through the profit and loss comprise trade creditors, amounts due from group undertakings and certain accruals (see note 16 and 17).
Financial liabilities measured at amortised cost comprise bnk and other loans and net obligations under finanses and hire purchase contracts (see note 16 and 17).
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23. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
as restated
£ £
Not later than one year 24,161 24,161
Later than one year and not later than five years 8,644 32,805
32,805 56,966
24. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £44,029 (2023: £46,612).
At the balance sheet date contributions of £6,554 (2023: £6,141) were due to the fund and are included in creditors.
25. Related Party Disclosures
Nuvo Accountancy LimitedA company where Stephen Sharp is a Director and Shareholder.During the year Nuvo Accountancy Limited provided Accounting and Business Advisory services totalling £24,564 (2023 - £16,972) with a Trade Creditor at 30th June 2024 of £13,986 (2023 - £9,164). Nuvo Accountancy Limited also purchased Event Hospitality during the year totalling £6,099 (2023 - £5,513) with a Trade Debtor at 30th June 2024 of £nil (2023 - £nil).

Nuvo Accountancy Limited

A company where Stephen Sharp is a Director and Shareholder.

During the year Nuvo Accountancy Limited provided Accounting and Business Advisory services totalling £24,564 (2023 - £16,972) with a Trade Creditor at 30th June 2024 of £13,986 (2023 - £9,164). Nuvo Accountancy Limited also purchased Event Hospitality during the year totalling £6,099 (2023 - £5,513) with a Trade Debtor at 30th June 2024 of £nil (2023 - £nil).

Stran LimitedA company where Francesca Sharp is a Director and Shareholder.During the year Stran Limited provided HR Consultancy totalling £20,048 (2023 - £18,450) with no Trade Creditor at 30th June 2024 (2023 - £nil).

Stran Limited

A company where Francesca Sharp is a Director and Shareholder.

During the year Stran Limited provided HR Consultancy totalling £20,048 (2023 - £18,450) with no Trade Creditor at 30th June 2024 (2023 - £nil).

The Old Forge Day Nursery LimitedA company where Abby Litting and Marcus Litting are Directors and Shareholders.At the 30th June 2024 Branston Golf & Country Club Limited owed the Old Forge Day Nursery £170,000 (2023 - £121,088) from none-interest bearing loans which was paid in full on 9th September 2024. At 30th June 2024 a balance of £18,580 (2023 - £28,643) remained due to The Old Forge Day Nursery Limited from a £50,000 loan made in 2021 which bears interest at 1.8%, with annual repayments of £10,980 and repayable by 31st May 2026.

The Old Forge Day Nursery Limited

A company where Abby Litting and Marcus Litting are Directors and Shareholders.

At the 30th June 2024 Branston Golf & Country Club Limited owed the Old Forge Day Nursery £170,000 (2023 - £121,088) from none-interest bearing loans which was paid in full on 9th September 2024. At 30th June 2024 a balance of £18,580 (2023 - £28,643) remained due to The Old Forge Day Nursery Limited from a £50,000 loan made in 2021 which bears interest at 1.8%, with annual repayments of £10,980 and repayable by 31st May 2026.

26. Controlling Parties
The immediate parent undertaking is Burton Inns Limited
There is no ultimate controlling party, as the share capital of Burton Inns Limited is held by Branston Club Holdings Limited which in turn is held equally by five shareholders, none of whom has control.
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