Company Registration No. 04279097 (England and Wales)
RAGC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
IDS Chartered Accountants LLP
23/25 Queen Street
COLERAINE
Co Londonderry
BT52 1BG
RAGC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
RAGC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT 31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,737,663
1,581,610
Current assets
Stocks
32,291
23,329
Debtors
5
723,113
600,924
Cash at bank and in hand
584,500
633,316
1,339,904
1,257,569
Creditors: amounts falling due within one year
6
(1,271,079)
(1,140,623)
Net current assets
68,825
116,946
Total assets less current liabilities
1,806,488
1,698,556
Creditors: amounts falling due after more than one year
7
(529,748)
(578,056)
Net assets
1,276,740
1,120,500
Reserves
Income and expenditure account
1,276,740
1,120,500
Total members' funds
1,276,740
1,120,500

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 26 September 2025 and are signed on its behalf by:
Mr R Boyle
Director
Company registration number 04279097 (England and Wales)
RAGC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 2 -
1
Accounting policies
Company information

Royal Ascot Golf Club is private company limited by guarantee and consequently does not hve share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. The company (04279097) is domiciled in the UK. The registered office is Royal Ascot Golf Club, Winkfield Road, Ascot, SL5 7LJ.

1.1
Accounting convention

These financial statements have been prepared under the historical cost convention, unless otherwise specified within these accounting policies, and in accordance with section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, and the Companies Act 2006.

The following principal accounting policies have been applied:

1.2
Going concern

The Club’s financial position continues to be positive. Membership numbers are healthy, and we have a solid pipeline for new members looking to join and as such took the opportunity to increase our joining fee in 2024/25. This is despite the increased cost pressure from the changes in employers’ National Insurance, minimum wage and business rates that were introduced in April 2025.true

We have continued to invest in the course and staff, taking our green keeping staff up to 8 full time employees and completing the penultimate phase of the bunkers. A complete refurbishment of the ladies’ toilets and changing rooms was also completed in 2024/25.

We successfully re-financed a tranche of member bonds in Oct 2024 for a further 7 years to strengthen our Capital so that we can complete several projects scheduled for next financial year. We believe this continued investment in improving all the facilities at the Club will ensure our continued and long-term success.

1.3
Turnover

Turnover is derived from the provision of golf and ancillary facilities and represents membership entrance fees and subscription income receivable in respect of the year. Turnover from membership fees is initially deferred and subsequently recognised over the period to which it relates.

Food, beverage and retail sales are made from the on-site restaurant and bar. The turnover is recognised as income at the time the sale is made, at invoice value excluding value added tax. Turnover also includes non-membership golf and leisure income (green fees, competition income and social income) which is also recognised at the time the sale is made.

1.4
Grants

Grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss account over the expected useful lives of the assets concerned.

1.5
Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in credits as deferred income.

Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.

RAGC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Tangible fixed assets costing more than £1,000 are capitalised and included at cost, including any incidental expenses on acquisition.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long term leasehold property
over the term of the lease
Golf course improvements
over the remaining term of the lease
Plant and equipment
over 3-10 years
Fixtures and fittings
over 5-10 years
Computers
over 4 years
Motor vehicles
over 5 years

The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the past reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

1.7
Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

1.8
Debtors
Short term debtors are measured at transaction price, less any impairment.
1.9
Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
1.10
Stock
Stocks are valued at the lower of cost and net realisable value after making due allowances for obsolete and slow-moving stocks.
RAGC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
26
26
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2024
2,564,007
578,517
3,142,524
Additions
239,188
42,780
281,968
Disposals
-
0
(49,271)
(49,271)
At 31 May 2025
2,803,195
572,026
3,375,221
Depreciation and impairment
At 1 June 2024
1,124,952
435,962
1,560,914
Depreciation charged in the year
93,144
31,557
124,701
Eliminated in respect of disposals
-
0
(48,057)
(48,057)
At 31 May 2025
1,218,096
419,462
1,637,558
Carrying amount
At 31 May 2025
1,585,099
152,564
1,737,663
At 31 May 2024
1,439,055
142,555
1,581,610
RAGC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 5 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Subscriptions receivable
630,094
574,474
Other debtors
93,019
26,450
723,113
600,924
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
18,000
18,000
Trade creditors
154,722
117,298
Corporation tax
19,854
16,614
Other taxation and social security
22,743
8,445
Other creditors
1,055,760
980,266
1,271,079
1,140,623
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
24,334
41,655
Other creditors
505,414
536,401
529,748
578,056
8
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

RAGC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
9
Audit report information
(Continued)
- 6 -
Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 May 2025 and of its surplus 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.

Senior Statutory Auditor:
Mr Roger Dallas
Statutory Auditor:
IDS Chartered Accountants LLP
Date of audit report:
26 September 2025
2025-05-31 2024-06-01 false false false 26 September 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mr I W Fraser Mr P F Naldrett S Edwards Mr T P S Wescombe Mr H Whittow H M Wing Mr S J Downey Mr H D Woods Mr R Boyle 04279097 2024-06-01 2025-05-31 04279097 2025-05-31 04279097 2024-05-31 04279097 core:LandBuildings 2025-05-31 04279097 core:OtherPropertyPlantEquipment 2025-05-31 04279097 core:LandBuildings 2024-05-31 04279097 core:OtherPropertyPlantEquipment 2024-05-31 04279097 core:CurrentFinancialInstruments core:WithinOneYear 2025-05-31 04279097 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 04279097 core:RetainedEarningsAccumulatedLosses 2025-05-31 04279097 core:RetainedEarningsAccumulatedLosses 2024-05-31 04279097 bus:Director9 2024-06-01 2025-05-31 04279097 core:IntangibleAssetsOtherThanGoodwill 2024-06-01 2025-05-31 04279097 core:LandBuildings core:LongLeaseholdAssets 2024-06-01 2025-05-31 04279097 core:LeaseholdImprovements 2024-06-01 2025-05-31 04279097 core:PlantMachinery 2024-06-01 2025-05-31 04279097 core:FurnitureFittings 2024-06-01 2025-05-31 04279097 core:ComputerEquipment 2024-06-01 2025-05-31 04279097 core:MotorVehicles 2024-06-01 2025-05-31 04279097 2023-06-01 2024-05-31 04279097 core:LandBuildings 2024-05-31 04279097 core:OtherPropertyPlantEquipment 2024-05-31 04279097 2024-05-31 04279097 core:LandBuildings 2024-06-01 2025-05-31 04279097 core:OtherPropertyPlantEquipment 2024-06-01 2025-05-31 04279097 core:CurrentFinancialInstruments 2025-05-31 04279097 core:CurrentFinancialInstruments 2024-05-31 04279097 core:WithinOneYear 2025-05-31 04279097 core:WithinOneYear 2024-05-31 04279097 core:Non-currentFinancialInstruments 2025-05-31 04279097 core:Non-currentFinancialInstruments 2024-05-31 04279097 bus:CompanyLimitedByGuarantee 2024-06-01 2025-05-31 04279097 bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 04279097 bus:FRS102 2024-06-01 2025-05-31 04279097 bus:Audited 2024-06-01 2025-05-31 04279097 bus:Director1 2024-06-01 2025-05-31 04279097 bus:Director2 2024-06-01 2025-05-31 04279097 bus:Director3 2024-06-01 2025-05-31 04279097 bus:Director4 2024-06-01 2025-05-31 04279097 bus:Director5 2024-06-01 2025-05-31 04279097 bus:Director6 2024-06-01 2025-05-31 04279097 bus:Director7 2024-06-01 2025-05-31 04279097 bus:Director8 2024-06-01 2025-05-31 04279097 bus:FullAccounts 2024-06-01 2025-05-31 xbrli:pure xbrli:shares iso4217:GBP