REGISTERED NUMBER: 02589304 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LYDD GOLF CLUB LIMITED

PREVIOUSLY KNOWN AS

LYDD GOLF CLUB AND DRIVING RANGE

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T F M Al Athel

M F M Al Athel

B F M Al Athel

Ms S M O'Dwyer

REGISTERED OFFICE:

Lydd Golf Club

Romney Road

LYDD

Kent

TN29 9LS

REGISTERED NUMBER:

02589304 (England and Wales)

AUDITORS:

McCabe Ford Williams

Chartered Accountants and Statutory Auditors

Charlton House

Dour Street

DOVER

Kent

CT16 1BL

FIXED ASSETS

Tangible assets

4

1,290,511

1,272,403

CURRENT ASSETS

Stocks

5

18,565

21,236

Debtors

6

79,991

143,905

Cash at bank and in hand

26,996

45,812

125,552

210,953

CREDITORS

Amounts falling due within one year

7

3,116,208

3,212,647

NET CURRENT LIABILITIES

(2,990,656

)

(3,001,694

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,700,145

)

(1,729,291

)

CAPITAL AND RESERVES

Called up share capital

9

640,100

640,100

Retained earnings

(2,340,245

)

(2,369,391

)

SHAREHOLDERS' FUNDS

(1,700,145

)

(1,729,291

)

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 25 September 2025 and were signed on its behalf by:

Ms S M O'Dwyer - Director

1.	STATUTORY INFORMATION

Lydd 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.

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 represents membership and green fees, as well as sales of other goods and services, excluding value added tax. Membership fees are time apportioned over the year to which they relate.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Freehold property consists of land, buildings, golf courses and a driving range. Buildings are depreciated at 2% per annum on a straight line basis, while the remaining land and golf courses are not depreciated.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension cost 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.

Government grants

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs is recognised in income in the period in which it becomes receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2024

1,396,070

180,520

73,757

1,650,347

Additions

18,801

26,534

-

45,335

At 31 December 2024

1,414,871

207,054

73,757

1,695,682

DEPRECIATION

At 1 January 2024

224,155

118,940

34,849

377,944

Charge for year

8,174

13,217

5,836

27,227

At 31 December 2024

232,329

132,157

40,685

405,171

NET BOOK VALUE

At 31 December 2024

1,182,542

74,897

33,072

1,290,511

At 31 December 2023

1,171,915

61,580

38,908

1,272,403

Included in cost of land and buildings is freehold land of £ 1,006,202 (2023 - £ 1,006,202 ) which is not depreciated.

5.

STOCKS

2024

2023

£

£

Stocks

18,565

21,236

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

55,773

53,595

Other debtors

-

62,650

Prepayments

24,218

27,660

79,991

143,905

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Income received in advance

164,810

152,442

Trade creditors

50,867

57,235

Amounts owed to group undertakings

2,867,346

2,892,431

Social security and other taxes

21,093

40,579

Other creditors and accruals

12,092

69,960

3,116,208

3,212,647

8.	LEASING AGREEMENTS

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

2024

2023

£

£

Within one year

33,375

33,375

Between one and five years

57,741

91,116

91,116

124,491

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

640,100

Ordinary

£1

640,100

640,100

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

The Report of the Auditors was unqualified.

Jonathan Fullarton BSc (Hons) FCA (Senior Statutory Auditor)

for and on behalf of McCabe Ford Williams

11.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed an amount of £1,722,384 (2023 - £1,722,384) to Lydd Holdings Limited, the parent company. The loan is interest free, unsecured and payable on demand.

At the balance sheet date the company owed an amount of £1,144,962 (2023 - £1,170,047) to Lydd Airport Limited, a fellow subsidiary. The loan is interest free, unsecured and payable on demand.

12.	PARENT COMPANY

The parent company is Lydd Holdings Limited, the registered address of which is Geneva Place, Waterfront Drive, PO Box 3469, Road Town, Tortola, British Virgin Islands.

During 2024 the share capital of Lydd Holdings Limited was owned by F M S Al Athel. On 30 March 2025 the full share capital of Lydd Holdings Limited was transferred from F M S Al Athel in equal amounts to B F M Al Athel, M F M Al Athel and H F M Al Athel.

13.	GOVERNMENT GRANTS

During the year to 31 December 2024, the company received apprenticeship grants of £Nil (2023 - £3,500).

14.	GOING CONCERN

The financial statements have been prepared on a going concern basis. This basis may not be appropriate because, as at 31 December 2024, the liabilities exceed the assets of the company by £1,700,145 (2023 - £1,729,291). Should the company be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide any further liabilities which might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities. The going concern basis has been applied on the basis that the company can rely on the financial support of Lydd Holdings Limited and the Al Athel family.