WENTWORTH GOLF AND TENNIS FOUNDATION

Company limited by guarantee

Company Registration Number:
02632558 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

WENTWORTH GOLF AND TENNIS FOUNDATION

Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

WENTWORTH GOLF AND TENNIS FOUNDATION

Directors' report period ended 31 December 2024

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

Principal activities of the company

Providing golf and tennis lessons

Political and charitable donations

Our annual member donations this year were £22.1K, down 3% on the previous year, against a provisional budget of £38K for the year.

Additional information

The board remained largely unchanged this year, with Ms Qian Liu, Reignwood General Counsel, representing Ms Woraphanit. Once again, the trustees are proud of the progress and performance of the golf scholars: Josh Thompson is the County U18 champion, Heidi Mann the Surrey Girls Champion and Amelia van de Mortel is the U13 Country Champion. Three scholars left us, two to go to College in the States and one, as junior coach at a local Club, while studying for his PGA qualification. In his first term representing his college, Reggie Fear distinguished himself by winning the Griffin Institute Tournament. Our five tennis scholars are now all at an age they can join in the adult social sessions and contribute to the adult tennis teams. Matti, having passed his level 1 LTA Coaching qualification, is now able to help with junior coaching at the Club. The mentoring programme, for those over sixteen, is also gathering pace. It is making a substantial contribution to our scholars’ personal development. Wentworth Club Members can share their experience and act as a sounding board assisting our youngsters in their transition to adulthood and future careers. Our tennis outreach programme to schools continues to demonstrate successfully our commitment to the local community. Fourteen local schools were contacted, several tennis skills programmes were organised by our professionals, and eight 7-year-olds are learning tennis at the Club for two years. Our annual member donations this year were £22.1K, down 3% on the previous year, against a provisional budget of £38K for the year. It had been anticipated that our reserves would be sufficient to meeting the Foundation’s current obligations for the year. Going forward, it would however not be the case, so additional sources of funding are required. The Reignwood Group, acknowledging the opportunities the Foundation offer to young people, have committed to providing additional funds. Furthermore, the incoming Captain has generously undertaken to use the Captain’s Charity in 2025 for raising funds for the Foundation. Thus, 2025 may see a significant transformation of the Foundation’s ability not only to continue its current charitable activities but to extend it much further into the local community. FINANCIAL REVIEW Annual contributions from the members at Wentworth Club was £22,100. Expenditure for the year amounted to £35,050. RESERVES POLICY Reserves are regularly reviewed by the trustees and appropriate action taken to ensure they are maintained at a level necessary to adequately meet the obligations of the Foundation. At period end 31 December 2024 the Foundation held £49,908 in unrestricted reserves. The trustees have reviewed this and felt that it is at an appropriate level to meet the obligations of the Foundation in the future. The Trustees believe that the Foundation has sufficient resources and foreseeable income to continue its operations for at least twelve months from the date of this report. For this reason, the accounts are prepared on the going concern basis. PLANS FOR FUTURE PERIODS With the continued support of the Reignwood Group, the Trustees believe that there be opportunities in 2025 to ensure the Wentworth Golf and Tennis Foundation continues to afford young people life opportunities through the provision of membership at the Club.



Directors

The directors shown below have held office during the whole of the period from
1 January 2024 to 31 December 2024

Mr M McLoughlin
 Mrs P Leon
 Mr S Boyle
 Mr T Patrick
 Mrs J Maclean
 Ms W Ruayrungruan

The director shown below has held office during the period of
1 January 2024 to 29 February 2024

Mr J Blanch

The directors shown below have held office during the period of
28 December 2024 to 31 December 2024

Mr B Rafuse
 Mr J Noble

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
3 November 2025

And signed on behalf of the board by:
Name: Mr S Boyle
Status: Director

WENTWORTH GOLF AND TENNIS FOUNDATION

Profit And Loss Account

for the Period Ended 31 December 2024

2024 2023


£
£
Turnover: 22,574 29,284
Cost of sales: ( 32,394 ) ( 25,278 )
Gross profit(or loss): (9,820) 4,006
Distribution costs: 0 0
Administrative expenses: ( 2,656 ) ( 3,858 )
Operating profit(or loss): (12,476) 148
Profit(or loss) before tax: (12,476) 148
Profit(or loss) for the financial year: (12,476) 148

WENTWORTH GOLF AND TENNIS FOUNDATION

Balance sheet

As at 31 December 2024

Notes 2024 2023


£
£
Current assets
Cash at bank and in hand: 110,288 112,925
Total current assets: 110,288 112,925
Creditors: amounts falling due within one year: 3 ( 58,380 ) ( 48,541 )
Net current assets (liabilities): 51,908 64,384
Total assets less current liabilities: 51,908 64,384
Total net assets (liabilities): 51,908 64,384
Members' funds
Profit and loss account: 51,908 64,384
Total members' funds: 51,908 64,384

The notes form part of these financial statements

WENTWORTH GOLF AND TENNIS FOUNDATION

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 3 November 2025
and signed on behalf of the board by:

Name: Mr S Boyle
Status: Director

The notes form part of these financial statements

WENTWORTH GOLF AND TENNIS FOUNDATION

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Other accounting policies

    Judgements in applying accounting policies and key sources of estimation uncertainty The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company’s accounting policies. There are no significant judgements or key sources of estimation uncertainty. Recognition of incoming resources These are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources the trustees are probable they will receive the resources and the monetary value can be measured with sufficient reliability. Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. Investment income This is included in the accounts when receivable. Financial instruments All financial instruments are basic financial instruments and are recognised at amortised cost. Expenditure Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. Support Costs Support costs are those functions that assist the work of the Foundation but do not directly undertake charitable activities. They include governance costs relating to the examination of the financial statements. Irrecoverable VAT Irrecoverable VAT is charged to the Statement of Financial Activities in the period in which it arises. Charitable activities Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. The charity has identified two charitable activities which are Golf and Tennis. Taxation The charity is exempt from corporation tax on its charitable activities. Fund Accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Debtors Debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid. Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due. Going Concern The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

WENTWORTH GOLF AND TENNIS FOUNDATION

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

WENTWORTH GOLF AND TENNIS FOUNDATION

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 35,140 23,583
Accruals and deferred income 21,380 23,120
Other creditors 1,860 1,838
Total 58,380 48,541