REGISTERED NUMBER: 02398670 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

EAST DORSET GOLF CLUB LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

14

Cash Flow Statement

15

Notes to the Cash Flow Statement

16

Notes to the Financial Statements

18

DIRECTORS:

B A Champion

C C K Lerche-Lerchenborg

G J Packer

S J Packer

SECRETARY:

S J Packer

REGISTERED OFFICE:

Stafford House

10 Prince of Wales Road

Dorchester

DT1 1PW

REGISTERED NUMBER:

02398670 (England and Wales)

AUDITORS:

Carter & Coley Limited

Chartered Accountants and Statutory Auditor

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

The company continues to maintain and operate a golf course, an indoor bowls facility and gym, deal in golfing equipment and provide accomodation, restaurant and bar facilities for general public use. The company's activities are organised into the following six divisions:

- Income from use of the golf course;

- Income from indoor bowls;

- Sales of golfing equipment;

- Income from hotel accomodation;

- Sales in the restaurant;

- Sales in the bar.

The company is benefiting from its investment in solar electricity power and wood pellet boilers to provide more sustainable energy supplies.

We consider that our key financial performance figures are those that communicate the financial performance and strength of the company as a whole, these being turnover, turnover growth, gross profit margin, profit before tax and return on capital.

Trading is doing well in competitive market conditions and is able to repay debt as required.

Return on capital employed has decreased to 4.30% (2023 - 8.95%). Return on capital employed is calculated as profit before interest and tax divided by capital employed, which constitutes total assets less current liabilities.

At the end of the year, the net assets totalled £4,429,078.

The company's key financial and other performance indicators during the year were as follows:

Financial KPIs

Unit

2024

2023

Turnover

£

3,689,925

3,462,781

Turnover growth

%

7

7

Gross profit margin

%

77

78

Profit before tax

£

192,422

466,438

PRINCIPAL RISKS AND UNCERTAINTIES

As for many businesses of our size, the business environment in which we operate continues to be challenging. The income from the golf course itself, is dependent on weather conditions, however, the indoor bowls should help in the winter season. We are of course also subject to consumer spending patterns and consumers overall level of disposable income within our economy.

With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen events outside of our control.

ON BEHALF OF THE BOARD:

G J Packer - Director

15 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of running a golf course and related activities.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

B A Champion

C C K Lerche-Lerchenborg

G J Packer

Other changes in directors holding office are as follows:

A W J Champion - deceased 20 April 2024

S J Packer was appointed as a director after 31 December 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Carter & Coley Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

G J Packer - Director

15 September 2025

Qualified Opinion

We have audited the financial statements of East Dorset Golf Club Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The company has adopted a policy of revaluation of freehold land and buildings. A revaluation was last performed in 2005 and the company has not obtained a valuation since this date; this constitutes a departure from Financial Reporting Standard 102.

In forming our opinion we have been unable to obtain a current valuation.

The company does not depreciate freehold property, which is also a departure from Financial Reporting Standard 102. The depreciation that has not been charged in the current year's financial statements, based on a depreciation rate of 1% amounts to £26,373. The accumulated depreciation based on the same policy being applied since 2005, which is the year in which the properties were last revalued, and stated at the recoverable amount at 31st December 2005, is £457,370. If depreciation been charged the profit for the year would be £109,934 and retained reserves would be £3,244,417 with the balance sheet total £3,971,708.

In all other respects the financial statements:

- 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;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statement section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled out other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our method of identifying risks of material misstatement due to fraud include assessing events and conditions within the company that may be more susceptible to fraud due to the opportunities or incentives that exist therein. We have made enquiries to directors regarding their knowledge of any instances of fraud and we have investigated unusual transactions and unexpected relationships.

Audit procedures are designed to respond to risks of material misstatement due to irregularities, including fraud.

As a result of our risk assessment procedures, we have planned and performed the following procedures to identify non-compliance with laws and regulations described above:

- Testing the disclosures contained within the financial statements to supporting evidence and ensuring compliance with relevant laws and regulations identified as having an effect on the financial statements.

- Discussion with directors relating to non-compliance with the laws and regulations identified as having an effect on the financial statements.

- Performing analytical procedures to identify unusual and unexpected transactions that indicate potential material misstatement due to fraud.

- Risks relating to management override of controls were addressed by testing the appropriateness of journal entries and other adjustments. An assessment of whether accounting estimates are indicative of potential bias was undertaken.

- Unusual transactions were reviewed with directors to ensure that the commercial reasoning was reasonable within the normal course of business.

- Controls related to revenue recognition were reviewed and substantive testing was undertaken to ensure that revenue is recognised in line with the company's accounting policy and in line with accounting standards.

Due to the inherent limitations of an audit, there is an unavoidable risk that, despite properly planning and performing our audit in accordance with auditing standards, some material misstatements may not have been detected.

Auditing standards limit the audit procedures required to identify non-compliance with other operational laws and regulations to enquiry of directors and management and inspection of any correspondence. If a breach of operational regulations is not evident from relevant correspondence or disclosed to us, an audit is unlikely to detect that breach. In addition, the further removed non-compliance with laws and regulations is from the events and transactions included in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, the risk of not detecting material misstatement from due to fraud is higher than the risk of one not being detected through error as fraud may involve deliberate concealment through collusion, forgery, misrepresentations and intentional omissions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew A Clark FCA (Senior Statutory Auditor)

for and on behalf of Carter & Coley Limited

Chartered Accountants and Statutory Auditor

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

15 September 2025

TURNOVER

3,689,925

3,462,781

Cost of sales

853,725

748,121

GROSS PROFIT

2,836,200

2,714,660

Administrative expenses

2,578,189

2,313,545

258,011

401,115

Other operating income

-

110,280

OPERATING PROFIT

4

258,011

511,395

Interest receivable and similar income

14,418

28,853

272,429

540,248

Interest payable and similar expenses

5

80,007

73,810

PROFIT BEFORE TAXATION

192,422

466,438

Tax on profit

6

56,114

81,824

PROFIT FOR THE FINANCIAL YEAR

136,308

384,614

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

136,308

384,614

FIXED ASSETS

Intangible assets

7

-

-

Tangible assets

8

5,287,576

5,125,491

Investments

9

714,976

332,826

6,002,552

5,458,317

CURRENT ASSETS

Stocks

10

131,618

137,627

Debtors

11

262,524

707,793

Cash at bank and in hand

1,194,548

898,902

1,588,690

1,744,322

CREDITORS

Amounts falling due within one year

12

1,588,650

1,488,568

NET CURRENT ASSETS

40

255,754

TOTAL ASSETS LESS CURRENT LIABILITIES

6,002,592

5,714,071

CREDITORS

Amounts falling due after more than one year

13

(1,271,153

)

(1,162,385

)

PROVISIONS FOR LIABILITIES

17

(302,361

)

(258,916

)

NET ASSETS

4,429,078

4,292,770

CAPITAL AND RESERVES

Called up share capital

18

450,000

450,000

Revaluation reserve

19

227,291

227,291

Capital redemption reserve

19

50,000

50,000

Retained earnings

19

3,701,787

3,565,479

SHAREHOLDERS' FUNDS

4,429,078

4,292,770

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

G J Packer - Director

Called up

Capital

share

Retained

Revaluation

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

500,000

3,230,865

227,291

-

3,958,156

Changes in equity

Reduction in share capital

(50,000

)

-

-

-

(50,000

)

Total comprehensive income

-

384,614

-

-

384,614

Purchase of own shares

-

(50,000

)

-

50,000

-

Balance at 31 December 2023

450,000

3,565,479

227,291

50,000

4,292,770

Changes in equity

Total comprehensive income

-

136,308

-

-

136,308

Balance at 31 December 2024

450,000

3,701,787

227,291

50,000

4,429,078

Cash flows from operating activities

Cash generated from operations

1

1,122,669

392,345

Interest paid

(64,626

)

(61,878

)

Interest element of hire purchase payments paid

(15,381

)

(11,932

)

Net cash from operating activities

1,042,662

318,535

Cash flows from investing activities

Purchase of tangible fixed assets

(430,290

)

(846,282

)

Purchase of fixed asset investments

(382,150

)

(332,820

)

Sale of tangible fixed assets

2,000

-

Interest received

14,418

28,853

Net cash from investing activities

(796,022

)

(1,150,249

)

Cash flows from financing activities

New loans

975,000

460,881

Loan repayments

(877,588

)

(170,691

)

Hire purchase repayments

(48,406

)

(36,053

)

Hire purchase advances

-

125,631

Share buyback

-

(50,000

)

Net cash from financing activities

49,006

329,768

Increase/(decrease) in cash and cash equivalents

295,646

(501,946

)

Cash and cash equivalents at beginning of year

2

898,902

1,400,848

Cash and cash equivalents at end of year

2

1,194,548

898,902

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

£

£

Profit before taxation

192,422

466,438

Depreciation charges

268,205

152,931

Profit on disposal of fixed assets

(2,000

)

-

Change in deferred tax asset

(12,669

)

94,417

NPV adjustment

31,937

(110,280

)

Finance costs

80,007

73,810

Finance income

(14,418

)

(28,853

)

543,484

648,463

Decrease/(increase) in stocks

6,009

(24,647

)

Decrease/(increase) in trade and other debtors

445,269

(238,947

)

Increase in trade and other creditors

127,907

7,476

Cash generated from operations

1,122,669

392,345

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

1,194,548

898,902

Year ended 31 December 2023

31/12/23

1/1/23

£

£

Cash and cash equivalents

898,902

1,400,848

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/1/24

Cash flow

At 31/12/24

£

£

£

Net cash

Cash at bank and in hand

898,902

295,646

1,194,548

898,902

295,646

1,194,548

Debt

Finance leases

(206,241

)

48,406

(157,835

)

Debts falling due within 1 year

(1,015,583

)

28,186

(987,397

)

Debts falling due after 1 year

(1,004,550

)

(157,535

)

(1,162,085

)

(2,226,374

)

(80,943

)

(2,307,317

)

Total

(1,327,472

)

214,703

(1,112,769

)

1.	STATUTORY INFORMATION

East Dorset 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

- the amount of revenue can be reliably measured;

- it is probable that future economic benefits will flow to the entity;

- specific criteria have been met for each of the company's activities.

Goodwill

Goodwill has been amortised over its useful life of 5 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Freehold property

-

see below

Plant and machinery

-

20% on cost

The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying value may not be recoverable.

The directors consider that freehold property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost less impairment.

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 Statement of Comprehensive Income, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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

2024

2023

£

£

Wages and salaries

1,314,740

1,203,535

Social security costs

92,294

79,389

Other pension costs

21,094

18,371

1,428,128

1,301,295

The average number of employees during the year was as follows:

2024

2023

Production

37

36

Administration and support

10

11

Distribution

21

22

Other departments

6

6

74

75

2024

2023

£

£

Directors' remuneration

20,130

9,540

4.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024

2023

£

£

Hire of plant and machinery

11,021

9,245

Depreciation - owned assets

213,606

110,170

Depreciation - assets on hire purchase contracts

54,599

42,761

Profit on disposal of fixed assets

(2,000

)

-

Auditors' remuneration

6,100

5,650

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank interest

64,626

61,878

Hire purchase

15,381

11,932

80,007

73,810