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Registration number: 00298904

Greenmount Golf Club Limited
Annual Report and
Unaudited Financial Statements

30 November 2024

 

Greenmount Golf Club Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Greenmount Golf Club Limited

Balance Sheet
30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

41,422

42,020

Investments

5

2

2

 

41,424

42,022

Current assets

 

Stocks

6

5,568

7,358

Debtors

7

541,981

522,718

Cash at bank and in hand

 

119,629

133,960

 

667,178

664,036

Creditors: Amounts falling due within one year

8

(78,977)

(79,031)

Net current assets

 

588,201

585,005

Net assets

 

629,625

627,027

Capital and reserves

 

Retained earnings

629,625

627,027

Shareholders' funds

 

629,625

627,027

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Greenmount Golf Club Limited

Balance Sheet
30 November 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 August 2025 and signed on its behalf by:
 

.........................................
Mr CD Owen
Director

Company Registration Number: 00298904

 

Greenmount Golf Club Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2024

1

General information

The Company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Clubhouse
Greenhalgh Fold Farm
Greenmount
Bury
BL8 4LH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

Greenmount Golf Club Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

Straight Line over 5 years (Computers 2 years)

Course Apparatus

Straight Line over 5 years

Freehold Property

Straight Line over 50 years

Clubhouse & Lockers Rooms

Straight Line over 20 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the Group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Greenmount Golf Club Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 7 (2023 - 10).

 

Greenmount Golf Club Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2024

4

Tangible assets

Land and buildings
£

Properties under construction
 £

Fixtures and fittings
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 December 2023

18,089

135,793

45,417

19,965

219,264

Additions

-

-

3,495

-

3,495

At 30 November 2024

18,089

135,793

48,912

19,965

222,759

Depreciation

At 1 December 2023

1,010

113,730

42,539

19,965

177,244

Charge for the year

-

2,302

1,791

-

4,093

At 30 November 2024

1,010

116,032

44,330

19,965

181,337

Carrying amount

At 30 November 2024

17,079

19,761

4,582

-

41,422

At 30 November 2023

17,079

22,063

2,878

-

42,020

Included within the net book value of land and buildings above is £17,079 (2023 - £17,079) in respect of freehold land and buildings.
 

 

Greenmount Golf Club Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost or valuation

At 1 December 2023

2

Provision

Carrying amount

At 30 November 2024

2

At 30 November 2023

2

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Country of incorporation

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

GGC Developments Limited

England

Ordinary

100%

100%

         

Subsidiary undertakings

GGC Developments Limited

The principal activity of GGC Developments Limited is the development and letting of land and machinery. The loss for the financial period of GGC Developments Limited was £10,000 and the aggregate amount of Capital and reserves at the end of the period was £(100,000).

6

Stocks

2024
£

2023
£

Other inventories

5,568

7,358

 

Greenmount Golf Club Limited

Notes to the Unaudited Financial Statements
Year Ended 30 November 2024

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

1,621

777

Amounts owed by related parties

535,175

517,549

Prepayments

 

2,375

1,695

Other debtors

 

2,810

2,697

   

541,981

522,718

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

9,916

5,661

Taxation and social security

-

198

Accruals and deferred income

54,840

54,945

Other creditors

14,221

18,227

78,977

79,031