REGISTERED NUMBER: 00151621 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WOOLTON GOLF CLUB LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr G Williams

Mr T Beggs

Mr F Shotter

Mr A Rogers

Ms J Beggs

Mr H Baird

Mr S Chapman

Mrs A Grace

Mr E Imrie

SECRETARY:

Mr K A Pauline

REGISTERED OFFICE:

Doe Park

Speke Road

Woolton

Liverpool

L25 7TZ

REGISTERED NUMBER:

00151621 (England and Wales)

AUDITORS:

Livesey Spottiswood Ltd

Chartered Accountants and

Statutory Auditors

17 George Street

St Helens

Merseyside

WA10 1DB

FIXED ASSETS

Tangible assets

4

792,404

780,555

CURRENT ASSETS

Stocks

7,959

7,684

Debtors

5

8,513

23,350

Cash at bank and in hand

8,449

8,160

24,921

39,194

CREDITORS

Amounts falling due within one year

6

(458,352

)

(447,103

)

NET CURRENT LIABILITIES

(433,431

)

(407,909

)

TOTAL ASSETS LESS CURRENT LIABILITIES

358,973

372,646

CREDITORS

Amounts falling due after more than one year

7

(241,961

)

(268,604

)

NET ASSETS

117,012

104,042

RESERVES

Retained earnings

117,012

104,042

117,012

104,042

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 4 February 2025 and were signed on its behalf by:

Mr E Imrie - Director

Mr T Beggs - Director

1.	STATUTORY INFORMATION

Woolton Golf Club Limited is a private company, limited by guarantee , 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Subscriptions

Subscriptions are derived from members paying their annual fee either in a lump sum or by direct debit over a number of months. There is also income from annual locker rental.

Visitor/Green Fees

These are fees paid by external customers. They can be paid either online or through the Pro-Shop. The fees collected in the Pro Shop are paid over to the office on a weekly basis. Entrance money is also collected from external competitions (i.e Opens).

Bar income

Members and visitors pay for food and drinks at the bar. Members pay using a pre-paid bar card for which they are allowed a discount on their food and drinks. Visitors can pay by cash or card.

Functions and Other Income

Functions income is derived from food sales and other charges for specific events. This is usually paid in advance for large events (eg weddings, large parties) or can be on the day of the event (eg funerals, lunches).

Room Hire

Rent for the upstairs rooms is recognised on a straight line basis over the period of the leases. Room hire for functions is paid at the time of booking (and is also used as a deposit).

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land and buildings

-

2% on cost of buildings

Course plant and equipment

-

5% to 33% on cost

House fixtures & fittings

-

10% to 33% on cost

Assets are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Hire purchase and leasing commitments

Rentals payable under operating leases are charged against profits on a straight line basis over the periods of the leases. Assets acquired under finance leases and hire purchase contracts are capitalised as tangible fixed assets and depreciated in accordance with the accounting policy on depreciation. The related obligations, net of finance costs allocated to future periods, are included in creditors. Finance costs are charged against profits on a straight line basis over the periods of the contracts.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Grants

Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Irrecoverable VAT

The company is partially exempt for VAT. Irrecoverable VAT on revenue expenditure is written off in the period in which it is incurred. Irrecoverable VAT on capital expenditure is capitalised within the cost of the asset.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

929,385

707,517

1,636,902

Additions

-

45,352

45,352

Disposals

-

(217,880

)

(217,880

)

At 31 December 2024

929,385

534,989

1,464,374

DEPRECIATION

At 1 January 2024

240,145

616,202

856,347

Charge for year

13,564

19,939

33,503

Eliminated on disposal

-

(217,880

)

(217,880

)

At 31 December 2024

253,709

418,261

671,970

NET BOOK VALUE

At 31 December 2024

675,676

116,728

792,404

At 31 December 2023

689,240

91,315

780,555

Included in the cost of course plant and equipment are assets held under finance leases and hire purchase contracts amounting to £46,990 (2023 - £29,950). Accumulated depreciation on these assets amounts to £10,616 (2023 - £16,043).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

8,513

23,350

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdraft

162,017

137,858

Hire purchase contracts

7,098

3,621

Trade creditors

46,097

45,740

Taxation and social security

38,066

32,581

Other creditors

205,074

227,303

458,352

447,103

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

21,633

47,049

Hire purchase contracts

22,493

1,100

Other creditors

197,835

220,455

241,961

268,604

Included above are bank and other loans repayable by instalments after more than a five year period of £9,259 (2023 - £20,370).

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

9,853

8,254

Between one and five years

82,063

98,719

91,916

106,973

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

137,597

115,458

Bank loans

46,053

69,449

Hire purchase

29,591

4,721

Other loan

64,815

75,926

278,056

265,554

The bank loans and overdraft are secured by a fixed charge over the freehold and leasehold property, first fixed charge over book and other debts and first floating charge over all assets and undertaking both present and future.

The hire purchase contracts are secured against the assets to which they relate.

The other loan secured by a fixed charge over the company's freehold property.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Hudd BA FCA (Senior Statutory Auditor)

for and on behalf of Livesey Spottiswood Ltd

11.	PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities, for routine payroll services, for routine bookkeeping services and assist with the preparation of the financial statements.