REGISTERED NUMBER: 00203865 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PENWORTHAM GOLF CLUB LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Fisher

H Jackson

I Parkinson

P Todhunter

G T Hughes

T Durham

J Harrison

E Pace

REGISTERED OFFICE:

Blundell Lane

Penwortham

Preston

Lancashire

PR1 0AX

REGISTERED NUMBER:

00203865 (England and Wales)

ACCOUNTANTS:

ma2 (Blackpool) Limited

288 Church Street

Blackpool

Lancashire

FY1 3QA

BANKERS:

The Royal Bank of Scotland

97 Fishergate

Preston

PR1 2AE

FIXED ASSETS

Tangible assets

4

764,592

761,721

CURRENT ASSETS

Stocks

11,202

10,705

Debtors

5

32,769

16,820

Cash at bank and in hand

279,528

336,285

323,499

363,810

CREDITORS

Amounts falling due within one year

6

311,537

334,815

NET CURRENT ASSETS

11,962

28,995

TOTAL ASSETS LESS CURRENT LIABILITIES

776,554

790,716

CREDITORS

Amounts falling due after more than one year

7

182,857

205,694

NET ASSETS

593,697

585,022

CAPITAL AND RESERVES

Called up share capital

9

1,638

1,638

Retained earnings

10

592,059

583,384

SHAREHOLDERS' FUNDS

593,697

585,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by:

G T Hughes - Director

1.	STATUTORY INFORMATION

Penwortham Golf Club 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.

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.

Land & buildings

-

10% on reducing balance and 2% on cost

Course improvements

-

4% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Land &

Course

Plant and

buildings

improvements

machinery

£

£

£

COST

At 1 January 2024

737,462

827,566

622,224

Additions

-

46,367

54,561

Disposals

-

-

(3,180

)

At 31 December 2024

737,462

873,933

673,605

DEPRECIATION

At 1 January 2024

305,978

686,991

483,093

Charge for year

16,819

26,184

48,068

Eliminated on disposal

-

-

(2,425

)

At 31 December 2024

322,797

713,175

528,736

NET BOOK VALUE

At 31 December 2024

414,665

160,758

144,869

At 31 December 2023

431,484

140,575

139,131

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

556,898

68,855

2,813,005

Additions

2,245

-

103,173

Disposals

-

-

(3,180

)

At 31 December 2024

559,143

68,855

2,912,998

DEPRECIATION

At 1 January 2024

507,090

68,132

2,051,284

Charge for year

8,332

144

99,547

Eliminated on disposal

-

-

(2,425

)

At 31 December 2024

515,422

68,276

2,148,406

NET BOOK VALUE

At 31 December 2024

43,721

579

764,592

At 31 December 2023

49,808

723

761,721

Included in cost of land and buildings is freehold land of £ 50,090 (2023 - £ 50,090 ) which is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,667

1,250

VAT

1,977

-

Prepayments and accrued income

29,125

15,570

32,769

16,820

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

30,272

38,190

Trade creditors

33,520

47,128

Social security and other taxes

4,755

5,087

VAT

-

169

Other creditors

15,675

26,617

Accruals and deferred income

227,315

217,624

311,537

334,815

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - over one year

182,857

205,694

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

213,129

243,884

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1,638

Ordinary

£1

1,638

1,638

10.

RESERVES

Retained

earnings

£

At 1 January 2024

583,384

Profit for the year

8,675

At 31 December 2024

592,059