Welwyn Garden City Golf Club Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Welwyn Garden City Golf Club Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 00217506 . The registered office is Mannicotts, High Oaks Road, Welwyn Garden City, Hertfordshire, AL8 7BP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover represents the total invoice value, excluding value added tax, of membership fees and sales made during the year. Fees received in advance of the year end are deferred into the next accounting year and these are included in other creditors.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2.5% and 10%
Leasehold	2.5% and 10%
Plant & Machinery	10% and 20%
Fixtures & Fittings	10%, 20% and 25%
Computer Equipment	25%

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income and expenditure account.

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income and expenditure account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income and expenditure account as incurred.

2.6. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Page 3

Page 4

Welwyn Garden City Golf Club Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 41 (2024: 33)

4. Tangible Assets

	Land & Property
	Freehold	Leasehold	Plant & Machinery	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2024	1,010,730	491,810	565,923	128,776
Additions	-	-	91,464	7,093
Disposals	-	-	(61,093 )	-

As at 31 March 2025	1,010,730	491,810	596,294	135,869

Depreciation
As at 1 April 2024	686,461	262,466	460,119	101,367
Provided during the period	12,140	28,403	42,943	4,872
Disposals	-	-	(59,943 )	-

As at 31 March 2025	698,601	290,869	443,119	106,239

...CONTINUED

Page 4

Page 5

Welwyn Garden City Golf Club Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	312,129	200,941	153,175	29,630

As at 1 April 2024	324,269	229,344	105,804	27,409


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2024	46,603	2,243,842
Additions	4,342	102,899
Disposals	-	(61,093 )

As at 31 March 2025	50,945	2,285,648

Depreciation
As at 1 April 2024	44,675	1,555,088
Provided during the period	1,705	90,063
Disposals	-	(59,943 )

As at 31 March 2025	46,380	1,585,208

Net Book Value
As at 31 March 2025	4,565	700,440

As at 1 April 2024	1,928	688,754

5. Investment Property

	2025
	£
Fair Value
As at 1 April 2024 and 31 March 2025	600,000

The investment property was valued by the directors at an open market value at 31 March 2025. It's original cost was £10,000.

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	13,947	17,937
Other debtors	19,775	25,207

	33,722	43,144

Page 5

Page 6

Welwyn Garden City Golf Club Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	34,391	22,936
Trade creditors	54,697	64,269
Bank loans and overdrafts	5,556	5,556
Other creditors	212,565	152,997
Taxation and social security	36,483	42,612

	343,692	288,370

Other creditors includes members debentures of £25,209 (2024 - £25,209).

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	39,916	35,566
Bounce Back Loans	23,611	29,167

	63,527	64,733

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	34,391	22,936
Later than one year and not later than five years	39,916	35,566

	74,307	58,502

	74,307	58,502

10. Deferred Taxation

The provision for deferred taxation is in respect of the revaluation of the investment property.

	2025	2024
	£	£
Other timing differences	147,500	112,100

Page 6

Page 7

Welwyn Garden City Golf Club Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

11. Related Party Transactions

During the year the company purchased goods and services in the normal course of business with the following related parties:

Andy Collie, Abbey Stationers £1,170 (2024- £3,600)

Chris Tyler, CJ & DC Tyler £1,218 (2024 - £114)

Tony Smith £397 (2024 - £727)

Chris Town, Town Bros £1,680 (2024 - £1,680)

Nigel Nechelput, N-Build £0 (2024 - £14,960)

Chris Pomroy, Pomroy Associates £5,707 (2024 - £6,996)

At 31 March 2025, £1680 was owed to Chris Town, Town Bros.

12. Company limited by guarantee

The company is limited by guarantee, each member of the Club being liable to guarantee a sum not exceeding £1 (one pound) in the event of the company being wound up during the period of membership. At the balance sheet date the number of members was 738 (2024 - 715).

Page 7

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		700,440		688,754
Investment Properties	5		600,000		600,000

			1,300,440		1,288,754
CURRENT ASSETS
Stocks		10,055		11,588
Debtors	6	33,722		43,144
Cash at bank and in hand		193,037		215,694

		236,814		270,426
Creditors: Amounts Falling Due Within One Year	7	(343,692 )		(288,370 )

NET CURRENT ASSETS (LIABILITIES)			(106,878 )		(17,944 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,193,562		1,270,810

Creditors: Amounts Falling Due After More Than One Year	8		(63,527 )		(64,733 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(147,500 )		(112,100 )

NET ASSETS			982,535		1,093,977

Income and Expenditure Account			982,535		1,093,977

MEMBERS' FUNDS			982,535		1,093,977