REGISTERED NUMBER: 02880143 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Reigate Hill Golf Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Colebrook

R K F Colebrook

D K R Colebrook

A J Richards

M G Ducker

SECRETARY:

P Colebrook

REGISTERED OFFICE:

Gatton House

Whitehall Farm

Rocky Lane

Reigate

Surrey

RH2 0TA

REGISTERED NUMBER:

02880143 (England and Wales)

ACCOUNTANTS:

Bullimores LLP

Chartered Accountants

Old Printers Yard

156 South Street

Dorking

Surrey

RH4 2HF

BANKERS:

Natwest

3 High Street

Maidstone

Kent

ME14 1XU

FIXED ASSETS

Tangible assets

4

1,890,549

1,941,488

CURRENT ASSETS

Stocks

5

47,478

56,325

Debtors

6

300,539

278,773

Cash at bank

238,961

176,769

586,978

511,867

CREDITORS

Amounts falling due within one year

7

840,641

785,863

NET CURRENT LIABILITIES

(253,663

)

(273,996

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,636,886

1,667,492

CREDITORS

Amounts falling due after more than one year

8

1,014,218

1,045,916

NET ASSETS

622,668

621,576

CAPITAL AND RESERVES

Called up share capital

11

1,026,000

1,026,000

Retained earnings

(403,332

)

(404,424

)

SHAREHOLDERS' FUNDS

622,668

621,576

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 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 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 7 November 2025 and were signed on its behalf by:

R K F Colebrook - Director

1.	STATUTORY INFORMATION

Reigate Hill Golf 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern basis

The accounts are prepared under the basis that the company will continue to exist as a going concern. This is dependent on loans from directors and from the trading partnership controlled by the directors and their families.

Turnover

Turnover represents net invoiced sales of subscriptions to the Golf Club, green fees and clubhouse takings. Subscription income is matched to the period to which it relates, so subscriptions received in advance of the subscription year are recognised as deferred income.

Tangible fixed assets

Depreciation is provided on all tangible fixed assets other than freehold land at rates calculated to write off each asset over its estimated useful life. The principal annual rates in use are:

Clubhouse

2%

on cost

Road and carpark

10%

on written down value

Motor vehicles

25%

on written down value

Furniture, fixtures and fittings

15%

on written down value

Course, kitchen and office equipment

25%

on written down value

Depreciation is not provided on land or on the initial costs of developing the land. Assets are recorded at original cost.

At each reporting date, assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and an impairment loss is recognised immediately in the income statement.

Stocks

Stock is valued at the lower of cost and estimated 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2024 - 51 ) .

4.	TANGIBLE FIXED ASSETS

Course,

kitchen

and

Fixtures

Freehold

office

and

property

equipment

fittings

Totals

£

£

£

£

COST

At 1 April 2024

2,303,064

308,573

631,944

3,243,581

Additions

-

12,494

19,431

31,925

Disposals

-

(18,000

)

-

(18,000

)

At 31 March 2025

2,303,064

303,067

651,375

3,257,506

DEPRECIATION

At 1 April 2024

713,862

244,346

343,885

1,302,093

Charge for year

26,617

19,140

29,513

75,270

Eliminated on disposal

-

(10,406

)

-

(10,406

)

At 31 March 2025

740,479

253,080

373,398

1,366,957

NET BOOK VALUE

At 31 March 2025

1,562,585

49,987

277,977

1,890,549

At 31 March 2024

1,589,202

64,227

288,059

1,941,488

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Course,

kitchen

and

office

equipment

£

COST

At 1 April 2024

111,700

Additions

9,888

Disposals

(18,000

)

At 31 March 2025

103,588

DEPRECIATION

At 1 April 2024

76,313

Charge for year

11,278

Eliminated on disposal

(10,406

)

At 31 March 2025

77,185

NET BOOK VALUE

At 31 March 2025

26,403

At 31 March 2024

35,387

5.

STOCKS

31.3.25

31.3.24

£

£

Goods for resale

47,478

56,325

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

289,722

270,926

Other debtors

10,817

7,847

300,539

278,773

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

6,210

6,210

Hire purchase contracts (see note 9)

6,428

6,958

Trade creditors

232,257

234,208

Tax

24

-

Social security and other taxes

17,553

15,142

VAT

69,667

66,334

Other creditors

5,875

9,319

Directors' current accounts

47,895

47,895

Deferred income

454,732

399,797

840,641

785,863

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans 1-2 years

6,210

6,210

Bank loans 2-5 years

13,776

18,629

Bank loans > 5 years

-

1,357

Hire purchase contracts (see note 9)

14,374

14,862

Directors' loans

448,666

473,666

Membership deposits

531,192

531,192

1,014,218

1,045,916

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans > 5 years

-

1,357

An amount included in Membership Deposits of £531,192 (2024- £531,192) is due in more than five years.

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.25

31.3.24

£

£

Net obligations repayable:

Within one year

6,428

6,958

Between one and five years

14,374

14,862

20,802

21,820

Non-cancellable

operating leases

31.3.25

31.3.24

£

£

Within one year

50,900

57,338

Between one and five years

89,855

140,755

140,755

198,093

10.	SECURED DEBTS

The bank hold a debenture with a fixed and floating charge over the company assets and a first legal mortgage over the freehold property owned by the company for any monies owed.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

526,000

Ordinary

£1

526,000

526,000

500,000

Redeemable preference shares

£1

500,000

500,000

1,026,000

1,026,000

The preference shares are redeemable at par at any time in whole or in part at the option of the company. On winding up the preference shares rank ahead of the ordinary shares and would be repaid at par. The preference shares carry voting rights of 1 vote for every 25 shares. In all other respects the redeemable preference shares rank pari passu with the ordinary shares.

12.	CONTINGENT LIABILITIES

The initial membership scheme required all new club members to pay a deposit on joining. The agreement was that this deposit would be repaid to the member on resignation, but only using the replacement funds generated by a replacement member. For commercial reasons this scheme was ended some years ago and new members do not pay a deposit.

The directors continue to believe that there is no obligation for the company to repay the deposits of resigned members until there are replacement membership deposits received as the initial agreement provided. The full liability of all deposits held is recognised in the balance sheet.

The directors are mindful of the way in which they can maintain the resources with which to run the club and be equitable to the members and ex members who paid deposits.

A full review of all paperwork relating to the original deposits received has been conducted in the year ended 31 March 2023 and the liability amended according.

13.	RELATED PARTY DISCLOSURES

Loans owed to the directors and their close family total £448,666 at the balance sheet date (2024 - £473,666). No interest has been charged on these loans in the year under review.

14.	ULTIMATE CONTROLLING PARTY

The company is under the control of the directors who own 100% of the issued share capital.