REGISTERED NUMBER: 13468529 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Tehidy Park Golf Club Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N M Datson

S F N Harrison

C Martin

K Piner

E A Shrivell

P D Staton

M R Weeks

P J Wood

SECRETARY:

J T Levick

REGISTERED OFFICE:

Tehidy Park Golf Club

Cot Road

Camborne

Cornwall

TR14 0HH

REGISTERED NUMBER:

13468529 (England and Wales)

FIXED ASSETS

Tangible assets

4

693,673

922,660

Investment property

5

325,000

-

1,018,673

922,660

CURRENT ASSETS

Stocks

6

17,414

17,976

Debtors

7

26,144

8,859

Cash at bank and in hand

106,683

125,296

150,241

152,131

CREDITORS

Amounts falling due within one year

8

233,036

167,453

NET CURRENT LIABILITIES

(82,795

)

(15,322

)

TOTAL ASSETS LESS CURRENT LIABILITIES

935,878

907,338

CREDITORS

Amounts falling due after more than one year

9

(79,476

)

(58,254

)

PROVISIONS FOR LIABILITIES

(73,797

)

(68,541

)

NET ASSETS

782,605

780,543

RESERVES

Other reserves

904,147

904,147

Income and expenditure account

(121,542

)

(123,604

)

782,605

780,543

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 surplus or deficit 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 3 September 2025 and were signed on its behalf by:

C Martin - Director

1.	STATUTORY INFORMATION

Tehidy Park Golf Club Ltd 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.

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 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 Club's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The policies adopted for the recognition of turnover are as follows:

Sale of goods:

Turnover from the sale of goods, including beverages, 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 Club and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually at the point of sale.

Rendering of services and use of facilities:

Turnover from the provision of services and use of facilities is recognised as services are provided and facilities are used.

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

-

10 -15% on cost and over the period of the lease

Fixtures and fittings

-

10 - 20% on cost, 5% on cost and 4% on cost

Computer equipment

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in surplus or deficit.

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.

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.

Going concern

At the Balance Sheet date the company's net current liabilities were £82,795 (2024: £15,322). The company made an operating surplus in 2025 (2024: operating deficit).

Following the operating deficit registered in 2024, the Board has formulated a five-year turnaround plan. As part of the Board's turnaround plan every aspect of the Company's revenue and cost streams continues to be reviewed and monitored. The Board aims to protect, sustain and grow a viable members' club for the future and with the recent significant operational changes that have been made over the last 12 months, the club is in a far stronger position going forwards with these controls in place and being maintained.

Based on the above, the Board are confident that viability can be maintained, and the accounts are prepared on a going concern base accordingly.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

734,767

202,304

48,559

3,484

989,114

Additions

5,190

69,117

62,397

338

137,042

Reclassification/transfer

(325,000

)

-

-

-

(325,000

)

At 31 March 2025

414,957

271,421

110,956

3,822

801,156

DEPRECIATION

At 1 April 2024

-

48,168

16,614

1,672

66,454

Charge for year

-

29,278

10,771

980

41,029

At 31 March 2025

-

77,446

27,385

2,652

107,483

NET BOOK VALUE

At 31 March 2025

414,957

193,975

83,571

1,170

693,673

At 31 March 2024

734,767

154,136

31,945

1,812

922,660

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Reclassification/transfer

325,000

At 31 March 2025

325,000

NET BOOK VALUE

At 31 March 2025

325,000

Investment property is valued as at 31 March 2025 based upon the most recent open market valuation.

6.

STOCKS

2025

2024

£

£

Stocks

17,414

17,976

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

21,724

2,133

Other debtors

1,521

2,555

VAT

-

1,576

Prepayments and accrued income

2,899

2,595

26,144

8,859

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts and finance leases

39,949

26,593

Trade creditors

38,232

20,314

Social security and other taxes

4,294

5,202

VAT

12,716

-

Other creditors

39,903

20,792

Accruals and deferred income

97,942

94,552

233,036

167,453

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts and finance leases

79,476

58,254