REGISTERED NUMBER: 00066982 (England and Wales)

SEACROFT GOLF LINKS COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

M D Bates

J Canning

K L Hussey

D C Sorby

N Roylance

S Plaskitt

L Askin

N Willerton

G Canning

SECRETARY:

S A Turner

REGISTERED OFFICE:

The Clubhouse

Drummond Road

Seacroft

Skegness

Lincolnshire

PE25 3AU

REGISTERED NUMBER:

00066982 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

27-29 Lumley Avenue

Skegness

Lincolnshire

PE25 2AT

BANKERS:

Lloyds Bank

51 Lumley Road

Skegness

Lincolnshire

PE253LP

FIXED ASSETS

Tangible assets

4

1,004,221

990,676

CURRENT ASSETS

Stocks

21,976

20,321

Debtors

5

12,650

11,091

Cash at bank

381,000

344,555

415,626

375,967

CREDITORS

Amounts falling due within one year

6

343,231

311,963

NET CURRENT ASSETS

72,395

64,004

TOTAL ASSETS LESS CURRENT LIABILITIES

1,076,616

1,054,680

CREDITORS

Amounts falling due after more than one year

7

(326,429

)

(405,471

)

PROVISIONS FOR LIABILITIES

(50

)

(50

)

NET ASSETS

750,137

649,159

CAPITAL AND RESERVES

Called up share capital

7,314

7,314

Retained earnings

742,823

641,845

SHAREHOLDERS' FUNDS

750,137

649,159

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 20 August 2025 and were signed on its behalf by:

S Plaskitt - Director

1.	STATUTORY INFORMATION

Seacroft Golf Links Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

10% on cost, Nil and Straight line over 3 years

Plant and machinery etc

-

20% on cost, 10% on cost and 3 - 13 years straight line

Tangible fixed assets are held at cost less depreciation.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

The company do not claim capital allowances on the assets acquired, therefore no deferred taxation is reserved in the financial statements.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

869,479

1,060,347

1,929,826

Additions

-

72,307

72,307

At 31 March 2025

869,479

1,132,654

2,002,133

DEPRECIATION

At 1 April 2024

248,400

690,750

939,150

Charge for year

9,873

48,889

58,762

At 31 March 2025

258,273

739,639

997,912

NET BOOK VALUE

At 31 March 2025

611,206

393,015

1,004,221

At 31 March 2024

621,079

369,597

990,676

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

3,098

4,087

Other debtors

9,552

7,004

12,650

11,091

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

30,000

30,000

Receipts in advance

273,930

246,703

Trade creditors

13,010

14,308

Taxation and social security

7,158

5,573

Other creditors

19,133

15,379

343,231

311,963

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

139,805

165,775

Other creditors

186,624

239,696

326,429

405,471

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

169,805

195,775

The bank overdraft and bank loans are secured on the freehold property at Drummond Road, Skegness, Lincs.

The bounce back loan is secured by the UK Government.