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Registration number: 00494263

Ladbrook Park Golf Club Limited

(A company limited by guarantee)

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Ladbrook Park Golf Club Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Ladbrook Park Golf Club Limited

Company Information

Directors

M E Parfitt

T I Cooley

W A Longe

D Heath

S Pedley

B Harris

Registered office

Ladbrook Park Golf Club Poolhead Lane
Tanworth In Arden Solihull
Birmingham
West Midlands
B94 5ED

Auditors

Bissell & Brown Midlands Ltd
Statutory Auditors
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

 

Ladbrook Park Golf Club Limited

(Registration number: 00494263)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

748,808

828,155

Current assets

 

Stocks

6

38,145

38,011

Debtors

7

61,454

56,851

Cash at bank and in hand

 

329,521

391,875

 

429,120

486,737

Creditors: Amounts falling due within one year

8

(357,020)

(429,325)

Net current assets

 

72,100

57,412

Total assets less current liabilities

 

820,908

885,567

Creditors: Amounts falling due after more than one year

8

(168,861)

(232,042)

Net assets

 

652,047

653,525

Reserves

 

Retained earnings

652,047

653,525

Surplus

 

652,047

653,525

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.

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 directors' report and the Profit and Loss Account.

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

.........................................
T I Cooley
Director

.........................................
W A Longe
Director

 

Ladbrook Park Golf Club Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by guarantee incorporated in England & Wales. The company's registration number is 00494263.

The address of its registered office is:
Ladbrook Park Golf Club Poolhead Lane
Tanworth In Arden Solihull
Birmingham
West Midlands
B94 5ED

These financial statements were authorised for issue by the Board on 27 February 2025.

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.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest pound.

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 27 February 2025 was Paul Matthews, who signed for and on behalf of Bissell & Brown Midlands Ltd.

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.

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.

 

Ladbrook Park Golf Club Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

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

Land and building

2.5% on cost (excluding land)

Plant and machinery

10-20% on cost

Fixtures, Fittings and equipment

12.5% - 33.33% on cost

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.

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.

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.

 

Ladbrook Park Golf Club Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 (including directors) during the year, was 33 (2023 - 33).

 

Ladbrook Park Golf Club Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

92,763

72,115

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Plant and machinery, etc
£

Total
£

Cost or valuation

At 1 January 2024

695,194

108,812

1,118,447

1,922,453

Additions

-

-

13,416

13,416

Disposals

-

-

(8,462)

(8,462)

At 31 December 2024

695,194

108,812

1,123,401

1,927,407

Depreciation

At 1 January 2024

469,598

108,811

515,889

1,094,298

Charge for the year

14,664

-

78,099

92,763

Eliminated on disposal

-

-

(8,462)

(8,462)

At 31 December 2024

484,262

108,811

585,526

1,178,599

Carrying amount

At 31 December 2024

210,932

1

537,875

748,808

At 31 December 2023

225,596

1

602,558

828,155

Included within the net book value of land and buildings above is £210,932 (2023 - £225,596) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Greens & Bar/Catering stock

38,145

38,011

 

Ladbrook Park Golf Club Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

7

Debtors

Current

2024
£

2023
£

Trade debtors

47,391

43,106

Prepayments

12,600

10,307

Other debtors

1,463

3,438

 

61,454

56,851

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8.1

75,704

74,981

Trade creditors

 

80,067

104,219

Taxation and social security

 

19,229

32,611

Accruals and deferred income

 

160,237

190,584

Other creditors

 

18,020

25,703

Corporation tax liability

 

3,763

1,227

 

357,020

429,325

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8.1

168,861

232,042

8.1

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

723

-

Hire purchase contracts

63,181

63,181

Development loans

11,800

11,800

75,704

74,981

Other loans represent interest free, unsecured development loans from members, with no set repayment terms.

 

Ladbrook Park Golf Club Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

8

Creditors (continued)

8.1

Loans and borrowings (continued)

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

168,861

232,042