Folkestone & Hythe Golf Club Limited

	Page
Company Information	1
Accountants' Report	2
Balance Sheet	3—4
Notes to the Financial Statements	5—10

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Accountants' Report

For The Year Ended 31 December 2024

Accountants' Report

We have reviewed the financial statements of Folkestone & Hythe Golf Club Limited for the year ended 31 December 2024, which comprise the Statement of income and retained earnings, the Balance sheet and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

Directors' Responsibility for the Financial Statements

As explained more fully in the Directors' responsibilities set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' Responsibility

Our objective is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with United Kingdom Generally Accepted Accounting Practice. ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics.

Scope of the Assurance Review

A review of the financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed procedures, primarily consisting of making enquires of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

- so as to give a true and fair view of the state of the Company's affairs as at 31 December 2024, and of its profit for the year then ended;

- in accordance with United Kingdom Generally Accepted Accounting Practice and

- in accordance with the requirements of the Companies Act 2006.

Use of our report

This report is made solely to the Company's directors, as a body, in accordance with the terms of our engagement letter dated 17 August 2023. Our review work has been undertaken so that we might state to the Company's directors those matters that we have agreed to state to them in a reviewer's report and for no other purposes. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors, as a body, for our review work, for this report or the conclusions we have formed.

24/08/2025

Beresfords

Chartered Certified Accountants

1-2 Rhodium Point

Spindle Close

Hawkinge, Folkestone

Kent

CT18 7TQ

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Folkestone & Hythe Golf Club Limited

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 00534048

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		251,403		270,751
Investments	6		1		-

			251,404		270,751
CURRENT ASSETS
Stocks	7	4,753		4,402
Debtors	8	21,927		65,421
Cash at bank and in hand		259,927		197,541

		286,607		267,364
Creditors: Amounts Falling Due Within One Year	9	(213,335 )		(222,602 )

NET CURRENT ASSETS (LIABILITIES)			73,272		44,762

TOTAL ASSETS LESS CURRENT LIABILITIES			324,676		315,513

Creditors: Amounts Falling Due After More Than One Year	10		(4,000 )		(12,521 )

NET ASSETS			320,676		302,992

Income and Expenditure Account			320,676		302,992

MEMBERS' FUNDS			320,676		302,992

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Folkestone & Hythe Golf Club Limited

Balance Sheet (continued)

As At 31 December 2024

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

Mr S Eggleston

Director

24/08/2025

The notes on pages 5 to 10 form part of these financial statements.

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Folkestone & Hythe Golf Club Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £5 towards the assets of the company in the event of liquidation. The company is registered as a Community Amateur Sports Club (CASC) whose purpose is to provide facilities for and encourage participation in the sport of golf.

The registered office is The Club House, Sene, Folkestone, Kent, CT18 8BL.

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

2. Statement of Compliance

The financial statements have been prepared 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.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention.

3.2. Going Concern Disclosure

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

3.3. Significant judgements and estimations

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.

3.4. Turnover

Turnover comprises amounts derived from subscriptions, green fees, bar sales and sundry other income, net of value added tax.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

3.5. Tangible Fixed Assets and Depreciation

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.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Depreciation is charged so as to write off the cost of assets less their residual value, other than land and properties under construction, over their estimated useful lives, using the straight-line method as follows:

Leasehold	5% to 20% on cost
Plant & Machinery	6.67% to 33.33% on cost
Fixtures & Fittings	6.67% to 33.33% on cost
Computer Equipment	5% to 20% on cost

3.6. Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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.

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Folkestone & Hythe Golf Club Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3.7. Leasing and Hire Purchase Contracts

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3.8. Stocks and Work in Progress

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.

3.9. 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.

3.10. Financial Instruments

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.

3.11. Interest Receivable

Interest income is recognised in the profit or loss using the effective interest method

3.12. Pensions

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. The pension cost charge represents contributions payable for the period by the company to the fund.

3.13. Government Grant

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates.

The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

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Folkestone & Hythe Golf Club Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3.14. Debtors and creditors

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

4. Average Number of Employees

Average number of employees, including directors, during the year was: 18 (2023: 20)

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2024	192,811	466,211	238,777	52,525	950,324
Additions	478	25,702	7,581	-	33,761

As at 31 December 2024	193,289	491,913	246,358	52,525	984,085

Depreciation
As at 1 January 2024	122,877	344,351	159,820	52,525	679,573
Provided during the period	10,748	23,298	19,063	-	53,109

As at 31 December 2024	133,625	367,649	178,883	52,525	732,682

Net Book Value
As at 31 December 2024	59,664	124,264	67,475	-	251,403

As at 1 January 2024	69,934	121,860	78,957	-	270,751

Included within the net book value of land and buildings above is £59,664 (2023 - £69,934) in respect of long leasehold property.

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2024	2023
	£	£
Plant & Machinery	26,057	46,985

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Folkestone & Hythe Golf Club Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Investments

	Subsidiaries
	£
Cost
As at 1 January 2024	-
Additions	1

As at 31 December 2024	1

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	1

As at 1 January 2024	-

Subsidiaries

Details of the company's subsidiaries as at 31 December 2024 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Sene Valley Golf Club Limited	The Club House, Sene, Folkestone, Kent, CT18 8BL	Ordinary Shares	100.00%	-

Sene Valley Golf Club Limited

The principal activity of Sene Valley Golf Club Limited was Dormant as at the year end.

7. Stocks

	2024	2023
	£	£
Bar and other stocks	4,753	4,402

8. Debtors

	2024	2023
	£	£
Due within one year
Prepayments and accrued income	18,757	47,429
Other debtors	2,171	17,992
Amounts owed by group undertakings	999	-

	21,927	65,421

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Folkestone & Hythe Golf Club Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	7,695	15,335
Trade creditors	19,053	13,056
Other taxes and social security	-	6,646
VAT	4,497	3,679
Other creditors	9,745	10,658
Accruals and deferred income	172,345	173,228

	213,335	222,602

10. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	-	7,721
Government grants after one year	4,000	4,800

	4,000	12,521

11. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	7,695	15,335
Later than one year and not later than five years	-	7,721

	7,695	23,056

	7,695	23,056

Finance leases are secured on the assets to which they relate.

12. Other Commitments

The total amount of financial commitments not included in the balance sheet is £430,000 (2023 - £490,000), being the rental of premises occupied by the company.

	2024	2023
	£	£
Not later than one year	60,000	60,000
Later than one year and not later than five years	240,000	240,000
Later than five years	130,000	190,000

	430,000	490,000

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Folkestone & Hythe Golf Club Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

13. Post Balance Sheet Events

Since 1 January 2025, the subsidiary Sene Valley Golf Club Limited has started trading, primarily to receive the green fee income from golfing operations previously received in the Company. The profits of the subsidiary are to be donated back to the Company.

14. Related Party Disclosures

During the year revenue was received from directors of the Company in respect of membership subscriptions only.

During the year the company paid expenditure for the premises repairs and maintenance to Floor Shop, Folkestone, amounting to £92 (2023: £196). One of the directors serving during the year is a proprietor of Floor Shop, Folkestone.

15. 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.

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Directors	Mr S Eggleston
	Mr D Ward Obe
	Mr C Hooper
	Mr D Thomas
	Mr A Dickson
	Mr T Terry
	Mr P Davies
	Mrs J Record-Mohr
	Ms I Ahern
	Mr G Cristall
	Mr B Gallagher

Secretary	Mr S Eggleston

Company Number	00534048

Registered Office	The Club House
	Sene
	Folkestone
	Kent
	CT18 8BL

Accountants	Beresfords
	Chartered Certified Accountants
	1-2 Rhodium Point
	Spindle Close
	Hawkinge, Folkestone
	Kent
	CT18 7TQ