Penn Golf Club Limited


Directors	Steven Baugh
	Leigh Church
	Debbie Cosnett
	Ian Foster
	Jo Hall
	Julie Hinde
	John Holmes
	Angela Inge Hughes
	Philip Anthony Jones
	Melvyn Kirton
	Robert Lane
	Michael Mullard
	Paul Stanyer
	David Wilkes


Company Secretary	Ian Stuart Foster


Registered Address	Penn Golf Club,
	Penn Common,
	Penn,
	WV4 5JN


Registered Number	00554861 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		1,010,639		990,148
			1,010,639		990,148
Current assets
Stocks	4	11,014		8,023
Debtors	5	26,741		15,992
Cash at bank and on hand		154,760		112,784
		192,515		136,799
Creditors amounts falling due within one year	6	(280,016)		(205,414)
Net current assets (liabilities)			(87,501)		(68,615)
Total assets less current liabilities			923,138		921,533
Creditors amounts falling due after one year	7		(92,648)		(131,645)
Net assets			830,490		789,888
Capital and reserves
Other reserves			8,550		11,488
Profit and loss account			821,940		778,400
Reserves			830,490		789,888

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 5 December 2025, and are signed on its behalf by:

Ian Foster
Director

Robert Lane
Director

Registered Company No. 00554861

Penn Golf Club Limited

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by guarantee and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	Turnover represents amounts received in respect of goods and services supplied excluding value added tax. Income is recognised when received with the exception of subscriptions, locker fees and buggy/trolley storage which are recognised in the year to which they relate.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Tangible fixed assets and depreciation
	Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter: Plant & Machinery: 10% Straight Line and 20% Straight Line. Fixtures, Fittings & Office Equipment: 10% Straight Line, 20% Straight Line and 33.33% Straight Line. No depreciation is charged on freehold property. It is the company's policy to maintain property in such condition that its value is not impaired with the passage of time. Such expenditure is charged to profits in the period in which it is incurred. The directors consider that the estimated residual value of the property is not materially different from its carrying value. Accordingly any element of depreciation would be immaterial and therefore no provision for depreciation has been made.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter:

Plant & Machinery: 10% Straight Line and 20% Straight Line. 
Fixtures, Fittings & Office Equipment: 10% Straight Line, 20% Straight Line and 33.33% Straight Line. 

No depreciation is charged on freehold property. It is the company's policy to maintain property in such condition that its value is not impaired with the passage of time. Such expenditure is charged to profits in the period in which it is incurred. The directors consider that the estimated residual value of the property is not materially different from its carrying value. Accordingly any element of depreciation would be immaterial and therefore no provision for depreciation has been made.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

	Stocks and work in progress
	Bar stocks, which comprise beers, wines and spirits have been valued by a professional stocktaker, the basis of the valuation being cost price. Sundry stocks are valued at cost price.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	15		15

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 April 24	1,396,123
	Additions	97,810
	Disposals	(26,700)
	At 31 March 25	1,467,234
	Depreciation and impairment
	At 01 April 24	405,975
	Charge for year	75,053
	On disposals	(24,434)
	At 31 March 25	456,594
	Net book value
	At 31 March 25	1,010,639
	At 31 March 24	990,148


	Included in the net book value of £1,010,639 is £129,854 (2024 - £159,851) relating to assets held under finance agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £36,847 (2024 - £31,717)

4.	Stocks
	Raw materials and consumables relate to bar stocks

	2025	2024
	£	£
Raw materials and consumables	11,014	8,023
Total	11,014	8,023

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	9,256	4,467
Prepayments and accrued income	17,485	11,525
Total	26,741	15,992

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	53,709	17,655
Bank borrowings and overdrafts	5,567	5,567
Taxation and social security	5,640	8,640
Finance lease and HP contracts	36,222	36,849
Other creditors	29,236	29,310
Accrued liabilities and deferred income	149,642	107,393
Total	280,016	205,414


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	23,661	29,229
Other creditors	68,987	102,416
Total	92,648	131,645


	Other creditors after one year includes Finance leases £57,396 (2024 - £85,979), Barrelage loan £5,441 (2024 - £8,034) and Members' loans £6,150 (2024 - £8,488). The following secured debts are included within creditors: Bank loans £29,229 (2024 - £34,796) and Finance leases £93,618 (2024 - £122,827).

8.	Creditors: amounts due after 5 years
	The Bounceback loan due after 5 years is £1392.

9.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	93,618		122,741

10.	Guarantees provided on behalf of directors
	The club is a company limited by guarantee. In accordance with clause 5 of the Memorandum of Association, in the case of a winding up of the club the liability of the members is restricted to an amount not exceeding £1 each. The maximum membership under article 2 is 2000 members.

11.	Further information regarding the company's financial position
	During the year, £2,838 was transferred from the Members’ Loan Redemption Reserve to the Profit and Loss Account