Company No: 00410060 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Statement of Changes in Equity
• Notes to the Financial Statements

Directors	S Barr
	R Keel
	T Kemp
	A King
	K Powell (Resigned 26 November 2024)
	S Rigden
	K Skelton
	M White

Secretary

R Keel

Registered office	The club House
	Convent Road
	Kingsgate
	Broadstairs
	Kent
	CT10 3PU
	United Kingdom

Company number

00410060 (England and Wales)

Accountant	Kreston Reeves LLP
	37 St Margarets Street
	Canterbury
	Kent
	CT1 2TU

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,997,105		1,783,847
		1,997,105		1,783,847
Current assets
Stocks		33,053		34,239
Debtors	4	20,573		18,722
Cash at bank and in hand		366,271		472,493
		419,897		525,454
Creditors: amounts falling due within one year	5	( 527,493)		( 397,986)
Net current (liabilities)/assets		(107,596)		127,468
Total assets less current liabilities		1,889,509		1,911,315
Creditors: amounts falling due after more than one year	6	( 78,227)		( 101,373)
Provision for liabilities		( 60,160)		( 48,882)
Net assets		1,751,122		1,761,060
Capital and reserves
Called-up share capital	7	930		705
Revaluation reserve		839,190		853,509
Other reserves		498,231		508,394
Profit and loss account		412,771		398,452
Total shareholders' funds		1,751,122		1,761,060

The notes on pages 7 to 12 form part of these financial statements.

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Kingsgate Golf Club Limited (registered number: 00410060) were approved and authorised for issue by the Board of Directors on 01 December 2025. They were signed on its behalf by:

R Keel Director

	Called-up share capital		Revaluation reserve		Other reserves		Profit and loss account		Total
	£		£		£		£		£
At 01 April 2023	705		867,828		551,331		384,133		1,803,997
Loss for the financial year	0		0		0		( 42,937)		( 42,937)
Total comprehensive loss	0		0		0		( 42,937)		( 42,937)
Transfer to/from profit and loss account	0		0		( 42,937)		42,937		0
Movement on revaluation of leasehold property	0		( 14,319)		0		14,319		0
At 31 March 2024	705		853,509		508,394		398,452		1,761,060
At 01 April 2024	705		853,509		508,394		398,452		1,761,060
Loss for the financial year	0		0		0		( 10,163)		( 10,163)
Total comprehensive loss	0		0		0		( 10,163)		( 10,163)
Issue of share capital	225		0		0		0		225
Transfer to/from profit and loss account	0		0		( 10,163)		10,163		0
Movement on revaluation of leasehold property	0		( 14,319)		0		14,319		0
At 31 March 2025	930		839,190		498,231		412,771		1,751,122

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Kingsgate Golf Club Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The club House, Convent Road, Kingsgate, Broadstairs, Kent, CT10 3PU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Prior year adjustment

[Disclose the nature of the prior period adjustment, and (if practicable);
(i) for each prior period presented, the amount of the correction for each financial statement line item affected; and
(ii) the amount of the correction at the beginning of the earliest prior period presented; or an explanation if it is not practicable to disclose these amounts for (i) and (ii).]

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	5 years straight line
Fixtures and fittings	10 years straight line
Office equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Club future development fund

The directors agreed that a "Club Future Development Fund" should be set up, and that the profit or loss for the year after tax and transfers to other reserves should be allocated to the fund.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	45		57

3. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	1,886,765		575,590		522,696		46,872		3,031,923
Additions	277,206		54,794		0		0		332,000
At 31 March 2025	2,163,971		630,384		522,696		46,872		3,363,923
Accumulated depreciation
At 01 April 2024	388,530		401,329		421,839		36,378		1,248,076
Charge for the financial year	39,561		58,480		17,006		3,695		118,742
At 31 March 2025	428,091		459,809		438,845		40,073		1,366,818
Net book value
At 31 March 2025	1,735,880		170,575		83,851		6,799		1,997,105
At 31 March 2024	1,498,235		174,261		100,857		10,494		1,783,847

Tangible assets held at valuation

The property element of the improvements to leasehold property has been revalued to £1,370,908 as at 31 March 2015. The valuation was carried out by a director of the company who is a Chartered Surveyor. A DRC method of valuation was used together with information provided by the valuation office.

4. Debtors

	2025		2024
	£		£
Prepayments	19,549		18,518
Other debtors	1,024		204
	20,573		18,722

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts	1,573		2,943
Trade creditors	308,288		249,025
Accruals	126,110		54,370
Other taxation and social security	19,531		22,619
Obligations under finance leases and hire purchase contracts	42,377		27,122
Other creditors	29,614		41,907
	527,493		397,986

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts	78,227		101,373

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
18,600 Ordinary shares of £ 0.05 each (2024: 14,100 shares of £ 0.05 each)	930		705

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	90,000		90,000
between one and five years	0		90,000
Total future minimum lease payments under non-cancellable operating leases	90,000		180,000

Pensions

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounts to £17,447 (2024: £15,861). Contributions totalling £2,624 (2024: £2,592) were payable to the fund at the balance sheet date and are included in creditors.

9. Chairman's report

On behalf of the Board of Directors I can now report on our end of year trading operations for 2024/2025.

We had prepared a conservative Budget and set subscriptions in January/February 2024 for 2024/2025 at a level to keep increases in subscriptions to a minimum and make a small profit to meet unforeseen emergencies.

Unfortunately subscriptions £1.123 million fell short of budget by £17,260 with Long course membership dropping to 733 and Northcliffe membership increasing slightly to 262 by the end of the year. However Entry Fees brought in £10,800 more than budgeted.

Green fee income at £346,800 ended £6,800 more than the budget but bars and restaurant trading with £657,400 income made a loss of £3,900 compared to a budgeted profit of £18,100.

Course Maintenance at £526,000 for the year including staff costs and machinery HP and leasing costs came in £21,000 below budget.

Our total salaries bill including NI and Pensions at £1.043 million overspent by £6,400.

As a result and despite uncertain times in the golf and the hospitality industry we ended the year with a small pre-tax profit £1,115 compared to a loss in the previous year of £16,970.

10. Ultimate controlling party

The directors consider there to be no ultimate controlling party.