| REGISTERED NUMBER: |
| The Hull Golf Club (1921) Limited |
| Unaudited Financial Statements for the Year Ended 30 June 2025 |
| REGISTERED NUMBER: |
| The Hull Golf Club (1921) Limited |
| Unaudited Financial Statements for the Year Ended 30 June 2025 |
| The Hull Golf Club (1921) Limited (Registered number: 00177772) |
| Contents of the Financial Statements |
| for the year ended 30 June 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| The Hull Golf Club (1921) Limited |
| Company Information |
| for the year ended 30 June 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Regent's Court |
| Princess Street |
| Hull |
| East Yorkshire |
| HU2 8BA |
| BANKERS: |
| First Floor, Westcott House |
| Hesslewood Business Park |
| Hull |
| East Yorkshire |
| HU13 0PF |
| SOLICITORS: |
| Citadel House |
| 58 High Street |
| Hull |
| HU1 1QE |
| The Hull Golf Club (1921) Limited (Registered number: 00177772) |
| Balance Sheet |
| 30 June 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Capital redemption reserve |
| Revaluation reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 Hull Golf Club (1921) Limited (Registered number: 00177772) |
| Balance Sheet - continued |
| 30 June 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| The Hull Golf Club (1921) Limited (Registered number: 00177772) |
| Notes to the Financial Statements |
| for the year ended 30 June 2025 |
| 1. | STATUTORY INFORMATION |
| The Hull Golf Club (1921) Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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. |
| Going concern |
| Despite the significant profit reported for the year, the balance sheet continues to show significant net current liabilities, leading the directors to consider the appropriateness of continuing to prepare the financial statements under the going concern basis. The directors have therefore assessed the financial resources of the company, including the preparation of financial forecasts for the year to 30th June 2026 and have considered subsequent periods beyond which clearly demonstrate that the company has the ability to operate as a going concern for the foreseeable future, with continuing bank support. Having assessed matters, the directors consider it appropriate to prepare the financial statements under the going concern basis. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
| Membership fees and subscriptions |
| Income from membership fees and subscriptions are recognised on an accruals basis in line with the club's annual membership calendar year. |
| Sale of goods |
| Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually at point of sale. |
| Gifts and donations |
| Income from gifts and donations are recognised as revenue in the year in which they are received. |
| Leases |
| Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
| The Hull Golf Club (1921) Limited (Registered number: 00177772) |
| Notes to the Financial Statements - continued |
| for the year ended 30 June 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost (or deemed 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: |
| Freehold land | - not depreciated |
| Freehold buildings | - 2% on cost |
| Plant and machinery etc | - between 5% and 33.3% on cost |
| 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. |
| 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. |
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
| Pension costs and other post-retirement 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 the service. |
| The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. |
| Reserves |
| The capital reserve was created in the year ended 31st March 2013 upon the forfeit of shares previously held by former members of the Club. |
| Impairment |
| Assets not measured at fair value 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, or the asset's cash generating unit, 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 unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| The Hull Golf Club (1921) Limited (Registered number: 00177772) |
| Notes to the Financial Statements - continued |
| for the year ended 30 June 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Course | Plant and | and |
| property | projects | machinery | fittings | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 July 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2025 |
| DEPRECIATION |
| At 1 July 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2025 |
| NET BOOK VALUE |
| At 30 June 2025 |
| At 30 June 2024 |
| Included within the cost of Land and Buildings is freehold land of £400,000 (2024: £400,000) which is not depreciated. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| The Hull Golf Club (1921) Limited (Registered number: 00177772) |
| Notes to the Financial Statements - continued |
| for the year ended 30 June 2025 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Corporation Tax |
| Social security and other taxes |
| Other creditors |
| Deferred income |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts | 55,671 | 50,551 |
| Hire purchase contracts are secured over the asset to which the agreement relates. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary Shares | £1 | 27,200 | 35,340 |
| Ordinary 'A' Shares | £1 | 1,400 | 2,510 |
| 28,600 | 37,850 |
| During the year the company bought back 8,150 Ordinary Shares of £1 each and 1,100 A Ordinary Shares of £1 each, all shares were allotted and fully paid. |
| 10. | COMMITMENTS, GUARANTEES AND CONTINGENCIES |
| Total financial commitments, guarantees and contingencies which are not included in the balance sheet amounted to £12,689 (2024: £19,939). |
| 11. | RELATED PARTY DISCLOSURES |
| Included in other creditors is an amount of £5,000 (2024: £4,975) due to a director by the company. |