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Registered number: 13112942
Tunbridge Wells Lawn Tennis Club Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Tonbridge Accountants Limited
Tunbridge Wells Lawn Tennis Club Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1
Notes to the Financial Statements | 2—8

Page 1
Tunbridge Wells Lawn Tennis Club Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 13112942

| 2024 | 2023 as restated
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 5 |  | 399,955 |  | 173,785
|  |  | 399,955 |  | 173,785
CURRENT ASSETS
Stocks | 6 | 4,034 |  | 2,574 |
Debtors | 7 | 34,402 |  | 48,429 |
Cash at bank and in hand |  | 236,527 |  | 393,870 |
|  | 274,963 |  | 444,873 |
Creditors: Amounts Falling Due Within One Year | 8 | (189,161 ) |  | (168,725 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 85,802 |  | 276,148
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 485,757 |  | 449,933
NET ASSETS |  |  | 485,757 |  | 449,933
Income and Expenditure Account |  |  | 485,757 |  | 449,933
MEMBERS' FUNDS |  |  | 485,757 |  | 449,933

For the year ending 31 December 2024 the company was entitled to exemption from audit 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board

Brigid Ewins Director
11/09/2025

The notes on pages 2 to 7 form part of these financial statements.
Page 1
Page 2
Tunbridge Wells Lawn Tennis Club Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Tunbridge Wells Lawn Tennis Club Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 13112942 . The registered office is Tunbridge Wells Lawn Tennis Club, Nevill Gate, Warwick Park, Tunbridge Wells, Kent, TN2 5ES.
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 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The company’s functional and presentation currency is the pound sterling.
2.2. Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of VAT and other sales-related taxes. Revenue is recognised when the performance obligations are satisfied, the amount can be measured reliably, and it is probable that economic benefits will flow to the club.
The club’s main sources of revenue and their recognition are as follows.
Membership subscriptions:
Income from annual membership subscriptions is recognised on a straight-line basis over the membership period, typically 12 months, reflecting the club’s ongoing obligation to provide access to facilities and services.
Coaching income:
Coaching fees are recognised as sessions take place. For prepaid blocks, revenue is recognised proportionately as sessions are delivered.
Bar and retail sales:
Revenue from the sale of drinks, snacks, and other goods is recognised at the point of sale, when control of the goods transfers to the customer.
Tournament entry fees:
Entry fees for tournaments are recognised when the tournament occurs, as this is when the performance obligation is fulfilled.
Floodlight tokens:
Revenue from the sale of floodlight tokens is recognised at the point of sale of the token. This is an approximation of the point at which the tokens are used to access lighting, which is impractical to measure directly.
Sponsorship income:
Sponsorship income is recognised over the period to which the sponsorship agreement relates, in line with the delivery of agreed benefits (e.g., advertising, logo placement). Where sponsorship is received in advance, it is deferred and released to income as the related obligations are fulfilled.
Donations and grants:
Donations and grants are recognised when receipt is probable and the amount can be measured reliably, provided any conditions attached have been met.
Pickleball:
Income from pickleball is recognised at the point of use, i.e. when the member or guest uses the court. Income received in advance is deferred until the service is delivered.
Court hire:
Income from court rental to coaches is recognised over the billing period, which is typically one month.
Page 2
Page 3
Tunbridge Wells Lawn Tennis Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.3. 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:

Leasehold | 2.5% - 10% on cost
Plant & Machinery | 25% on cost (floodlights 5%)
Fixtures & Fittings | 20% - 25% on cost
Computer Equipment | 25% on cost

Leasehold comprises the clubhouse, refurbishments, hard courts and clay courts. Although these are owned outright, they are built on leased land and are depreciated over the shorter of their useful life and the remaining lease period. The useful life is 14 years for clay courts, 40 years for hard courts and 35 years for the clubhouse (refurbishments 10 years).
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost comprises the purchase price and any directly attributable costs incurred in bringing the stocks to their present location and condition. The company holds stocks of catering ingredients, bar stock, retail products and competition prizes.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102.
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are initially measured at fair value, including transaction costs. The fair value of interest free loans is established by discounting the loan repayments at a market rate of interest.
Basic financial instruments are subsequently measured at amortised cost using the effective interest method. These include:

- Cash and cash equivalents
- Trade and other receivables
- Trade and other payables
- Loans receivable or payable that are non-derivative and have fixed or determinable payments.

Impairment of financial assets is assessed at each reporting date. If there is objective evidence of impairment, the carrying amount is reduced and the loss is recognised in the profit and loss account.
A financial asset is derecognised when the contractual rights to the cash flows expire or are settled. A financial liability is derecognised when the obligation is discharged, cancelled or expires.
The company does not enter into complex financial instruments and does not apply hedge accounting.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income and expenditure account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
4. Prior Period Adjustment
During the year, the directors enlisted a new accounting firm to support in the review of the accounting procedures of the club. As a result of that review, the directors have chosen to prepare the financial statements in accordance with FRS 102, Section 1A (Small Entities), rather than FRS 105 (Micro-entities Regime), because this framework provides more detailed and relevant information to members, and other users of the accounts. The impact of the transition is detailed in note 12 further below.
The review also identified accounting policies and procedures that were not fully consistent with FRS 102, and previously FRS 105, which have now been updated, as detailed below.
...CONTINUED
Page 3
Page 4
Tunbridge Wells Lawn Tennis Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
4. Prior Period Adjustment - continued
4.1) Recognition of Subscription Income
Following a review of revenue recognition policies, the Club has amended its accounting treatment to recognise subscription income on a straight-line basis over the 12-month membership period, in order to be consistent with FRS 102 and previously FRS 105, which more accurately reflects the delivery of membership benefits. Income is now recognised monthly, beginning with the month in which the membership renews. This provides a more transparent view to the users of the financial statements.
Owing to a system transition to the MOC platform in May 2023, complete membership activity data was only available for the year ending 31 December 2024. Accordingly, the 2024 earnings pattern was applied to invoice data from 2022 and 2023 to estimate the appropriate deferred income adjustments at 31 December 2022 and 31 December 2023.
As a result of this amendment to the accounting policy, the comparative figures have been restated. The impact of the adjustment is as follows:
Impact on the balance sheet at 31 December 2023:
- Creditors falling due within one year increased by £96,117, to reflect the deferred income balance.
Impact on the income and expenditure account for the year ended 31 December 2023:
- Subscription income decreased by £2,190.
- Surplus for the year decreased by £2,190.
Impact on members funds at 1 Jan 2023:
- Members' funds brought forward decreased by £93,927, representing income invoiced in 2022 that was previously recognised in full in that year, which is now being deferred and recognised in 2023.
These adjustments ensure compliance with the accruals concept under FRS 102 and provide a more accurate reflection of the Club’s financial performance and position.
4.2) Sinking Fund Deferred Income
In prior years, the Company accounted for contributions to a sinking fund by expensing estimated future court maintenance costs in the current period and by creating a liability for deferred income, which was later released and offset against the depreciation charge for those assets. In order to be consistent with FRS 102, which requires liabilities to be recognised only when the entity has a present obligation as a result of a past event and it is probable that an outflow of resources will be required to settle the obligation, the figures for the year ended 31 December 2023 have been restated with the following impact:
Impact on the balance sheet at 31 December 2023:
- Creditors falling due after one year (deferred income) decreased by £27,048.
Impact on the income and expenditure account for the year ended 31 December 2023:
- The depreciation charge increased by £4,288.
- Surplus for the year decreased by £4,288.
Impact on members funds at 1 Jan 2023:
- Members' funds brought forward increased by £31,336.
4.3) Derecognition of Aged Balances
During the preparation of the financial statements for the year ended 31 December 2024, a review of aged debtor and creditor balances identified amounts dating back up to three years that no longer met the definition of assets or liabilities under FRS 102. The balances related to historical transactions which had either been settled or no longer represented recoverable amounts or present obligations.
Accordingly, the financial statements for the year ended 31 December 2023 have been restated to derecognise these balances. The impact of this adjustment is as follows:
Impact on the balance sheet at 31 December 2023:
- Debtors decreased by £17,285.
- Creditors falling due within one year decreased by £1,148.
Impact on the income and expenditure account for the year ended 31 December 2023:
- Other income decreased by £9,197.
- Corporation tax decreased by £350.
- Surplus for the year decreased by £8,847.
Impact on members funds at 1 Jan 2023:
- Members' funds brought forward decreased by £7,290.
...CONTINUED
Page 4
Page 5
Tunbridge Wells Lawn Tennis Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
4. Prior Period Adjustment - continued
4.4) Bank Balance Reconciliation
A prior year adjustment has been made in respect of £10,335 unsubstantiated differences between the cash at bank balance reported in the financial statements for the year ended 31 December 2023 and the balance recorded in the company’s accounting ledger as at that date.
The impact of this adjustment is as follows:
Impact on the balance sheet at 31 December 2023:
- Cash at bank and in hand increased by £10,335.
Impact on the income and expenditure account for the year ended 31 December 2023:
- Other income increased by £10,335.
- Surplus for the year increased by £10,335.
There was no impact on members funds at 1 Jan 2023, as the issue arose within 2023.
4.5) Tournament Activity Balances
In prior years, the Club’s tournament activities were managed independently by a third party, who maintained separate accounting records outside of the Club’s main financial system. These activities were treated in substance as part of the Club’s operations; however, the method used to incorporate the results into the Club’s year-end accounts was not fully aligned to the required standard. As part of the current year’s financial review, the tournament balances have been reassessed, intercompany items have been eliminated, and the bank balances brought into line with verified tournament records. The comparative figures for the year ended 31 December 2023 have been restated accordingly. The impact of this adjustment is as follows:
Impact on the balance sheet at 31 December 2023:
- Tournament debtors have decreased by £3,615.
- Creditors falling due after one year (tournaments) decreased by £2,244.
- Cash at bank and in hand increased by £675.
Impact on the income and expenditure account for the year ended 31 December 2023:
- Other income decreased by £2,599.
- Surplus for the year decreased by £2,599.
Impact on members funds at 1 Jan 2023:
- Members' funds brought forward increased by £1,903.
4.6) Capitalisation of Planning Costs
From 2019 to 2021, planning costs were incurred in relation to a proposed extension of Club facilities. These costs were capitalised; however, they did not meet the definition of an asset at that time and should have been expensed as incurred. As part of the current year’s financial review, these balances have been removed from the balance sheet. The comparative figures for the year ended 31 December 2023 have been restated accordingly.The impact of this adjustment is as follows:
Impact on the balance sheet at 31 December 2023:
- Fixed assets have decreased by £15,019.
Impact on the income and expenditure account for the year ended 31 December 2023:
- No impact as the assets had not been depreciated.
Impact on members funds at 1 Jan 2023:
- Members' funds brought forward decreased by £15,019.
4.7) LTA Grant
The LTA provided the Club with a materials and machinery grant of £14,904. This didn't become receivable until confirmed in April 2024, but was recognised in the 2023. The comparative figures for the year ended 31 December 2023 have been restated accordingly. The impact of this adjustment is as follows:
Impact on the balance sheet at 31 December 2023:
- Fixed assets have decreased by £5,000 (the proportion of the grant relating to net posts, paid directly to the supplier).
- Other debtors have decreased by £9,904.
Impact on the income and expenditure account for the year ended 31 December 2023:
- Other operating income decreased by £14,904.
Impact on members funds at 1 Jan 2023:
- There was no impact on members' funds brought forward.
...CONTINUED
Page 5
Page 6
Tunbridge Wells Lawn Tennis Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
4. Prior Period Adjustment - continued
4.8) Summary
The above adjustments have been applied retrospectively in accordance with FRS 102 Section 10 (Accounting Policies, Estimates and Errors). Comparative figures have been restated, and the opening balances at 1 January 2023 and the results for the year ended 31 December 2023 have been adjusted accordingly. The combined imapct of the adjustments is as follows:
Impact on the balance sheet at 31 December 2023:
- Fixed assets decreased by £20,019.
- Debtors decreased by £30,804.
- Creditors falling due within one year increased by £92,724.
- Creditors falling due after one year decreased by £27,048.
- Cash at bank and in hand increased by £11,010.
Impact on the income and expenditure account for the year ended 31 December 2023:
- The depreciation charge increased by £4,288.
- Other income decreased by £16,365.
- Corporation tax decreased by £350.
- Subscription income decreased by £2,190.
- Surplus for the year decreased by £22,492.
Impact on members funds at 1 Jan 2023:
- Members' funds brought forward decreased by £82,997.
5. Tangible Assets

| Land & Property
--- | ---
| Leasehold | Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total
| £ | £ | £ | £ | £
Cost
As at 1 January 2024 | 492,278 | 157,460 | 72,718 | 415 | 722,871
Additions | 260,425 | - | 11,473 | 1,961 | 273,859
As at 31 December 2024 | 752,703 | 157,460 | 84,191 | 2,376 | 996,730
Depreciation
As at 1 January 2024 | 378,098 | 107,217 | 63,736 | 35 | 549,086
Provided during the period | 37,461 | 4,430 | 5,204 | 594 | 47,689
As at 31 December 2024 | 415,559 | 111,647 | 68,940 | 629 | 596,775
Net Book Value
As at 31 December 2024 | 337,144 | 45,813 | 15,251 | 1,747 | 399,955
As at 1 January 2024 | 114,180 | 50,243 | 8,982 | 380 | 173,785

6. Stocks

| 2024 |  | 2023 as restated
--- | --- | --- | ---
| £ |  | £
Stock | 4,034 |  | 2,574

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Tunbridge Wells Lawn Tennis Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
7. Debtors

| 2024 |  | 2023 as restated
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 19,096 |  | 12,694
Other debtors | 9,306 |  | 29,735
| 28,402 |  | 42,429
Due after more than one year
Other debtors | 6,000 |  | 6,000
| 34,402 |  | 48,429

8. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023 as restated
--- | --- | --- | ---
| £ |  | £
Trade creditors | 2,512 |  | 2,679
Other loans | - |  | 7,614
Other creditors | 181,244 |  | 148,496
Taxation and social security | 5,405 |  | 9,936
| 189,161 |  | 168,725

9. Reserves
The directors have designated a portion of the general reserve as a sinking fund to cover future capital expenditure on club assets. At 31 December 2024, the sinking fund stood at £92,434 (2023: £160,732) and is held in a separate savings account.
10. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
11. Transition to FRS 102
For the year ended 31 December 2024, the company has prepared its financial statements in accordance with Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council, specifically section 1A for Small Entities. This is the first year the company has adopted FRS 102, having previously applied FRS 105 (The Financial Reporting Standard applicable to the Micro-entities Regime).
In preparing these financial statements, the company has applied the requirements of FRS 102 Section 35 – Transition to this FRS. The transitional exemptions permitted under this standard have not been applied. The date of transition to FRS 102 is 1 January 2023.
The transition to FRS 102 has resulted in a change in accounting policy in respect of the company’s interest-free loan from the Lawn Tennis Association. Under FRS 105, the loan was measured at its face value. Under FRS 102, the loan is recognised initially at fair value and subsequently measured at amortised cost using the effective interest method. The difference between the loan’s fair value and its proceeds has been accounted for as income in the year the loan commenced.
As a result of this change, the following adjustment has been made to the opening balances as at 1 January 2023 (the transition date):
Retained earnings as previously stated £503,665
Adjustment for fair valuation of loan £ 1,125
Prior period adjustments as disclosed above (£ 82,997)
Retained earnings as restated £421,793
...CONTINUED
Page 7
Page 8
Tunbridge Wells Lawn Tennis Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
11. Transition to FRS 102 - continued
The impact of the change to the closing equity balances as at 31 December 2023 were as follows:
Retained earnings at 31 Dec 2023 under FRS 105 £555,078
Retained earnings at 31 Dec 2023 under FRS 102 before prior year adjustment £555,422
Retained earnings at 31 Dec 2023 under FRS 102 after prior year adjustment £449,933
The adoption of FRS 102 resulted in a decrease to profit for the year ended 31 December 2023 of £781, owing to the unwinding of the discount on the loan. The interest-free loan was discounted to present value using a market rate of interest of 6%. The unwinding of the discount is recognised as a finance cost over the term of the loan.
Early Adoption of Revised Revenue Recognition Standard
As part of the transition to FRS 102, the company has early adopted the revised Section 23 ‘Revenue’ of FRS 102, issued in March 2024 as part of the Financial Reporting Council’s periodic review. The revised section is otherwise effective for periods beginning on or after 1 January 2026, but has been applied to these financial statements for the year ended 31 December 2024.
The revised Section 23 introduces a new revenue recognition model based on the satisfaction of performance obligations in a contract, broadly aligned with the five-step model in IFRS 15.
Owing to the nature of the Company's revenue streams, the early adoption of the revised section has not resulted in a material change to the timing or amount of revenue recognised.
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