REGISTERED NUMBER: 00191867 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

THE LYTHAM (GREEN DRIVE) GOLF CLUB LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Miss B J Pearson

D Sully

Mrs D Sully

D L P McCreadie

R C Townley

C Grundy

J Fox

SECRETARY:

I Stewart

REGISTERED OFFICE:

Lytham Green Drive Golf Club

Ballam Road

Lytham St Annes

Lancashire

FY8 4LE

REGISTERED NUMBER:

00191867 (England and Wales)

AUDITORS:

Whitehead & Howarth

Statutory Auditors

327 Clifton Drive South

Lytham St Annes

Lancashire

FY8 1HN

FIXED ASSETS

Tangible assets

4

1,866,033

1,869,102

CURRENT ASSETS

Stocks

15,770

19,131

Debtors

5

18,782

6,780

Cash at bank and in hand

140,575

194,042

175,127

219,953

CREDITORS

Amounts falling due within one year

6

591,565

582,621

NET CURRENT LIABILITIES

(416,438

)

(362,668

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,449,595

1,506,434

CREDITORS

Amounts falling due after more than one year

7

(682,322

)

(703,105

)

PROVISIONS FOR LIABILITIES

10

(6,714

)

(6,346

)

NET ASSETS

760,559

796,983

RESERVES

Revaluation reserve

11

164,605

164,605

Income and expenditure account

11

595,954

632,378

760,559

796,983

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 11 November 2025 and were signed on its behalf by:

Mrs D Sully - Director

D L P McCreadie - Director

1.	STATUTORY INFORMATION

The Lytham (Green Drive) Golf Club Ltd is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover

Income comprises members' subscription fees and receipts from the sale of goods and services supplied by the Company, net of value added tax.

Tangible fixed assets

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.

Land and buildings

-

5% on cost and 2% on cost

Plant and machinery etc

-

20% on cost

Land and buildings held and used in the company's own activities for production and supply of goods or for administrative purposes are stated in the balance sheet at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the balance sheet.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve in 'other reserves'.

Once a revalued property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

Assets held under finance leases are depreciated in the same manner as owned assets.

At each balance sheet date, the company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Freehold land is not depreciated.

Stocks

Stocks are valued at the lower of cost and 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 surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2024 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 June 2024

1,682,059

1,212,945

2,895,004

Additions

-

89,579

89,579

Disposals

-

(43,235

)

(43,235

)

At 31 May 2025

1,682,059

1,259,289

2,941,348

DEPRECIATION

At 1 June 2024

21,451

1,004,451

1,025,902

Charge for year

10,903

81,745

92,648

Eliminated on disposal

-

(43,235

)

(43,235

)

At 31 May 2025

32,354

1,042,961

1,075,315

NET BOOK VALUE

At 31 May 2025

1,649,705

216,328

1,866,033

At 31 May 2024

1,660,608

208,494

1,869,102

Cost or valuation at 31 May 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2022

1,665,000

-

1,665,000

Cost

17,059

1,259,289

1,276,348

1,682,059

1,259,289

2,941,348

If land and buildings had not been revalued they would have been included at the following historical cost:

31.5.25

31.5.24

£

£

Cost

1,633,475

1,633,475

Aggregate depreciation

160,426

153,167

Value of land in freehold land and buildings

1,162,500

1,162,500

Freehold land and buildings were valued on fair value basis on 29 September 2022 by Sanderson Weatherall .

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

Plant and

machinery

etc

£

COST OR VALUATION

At 1 June 2024

267,322

Additions

84,817

Transfer to ownership

(21,356

)

At 31 May 2025

330,783

DEPRECIATION

At 1 June 2024

91,421

Charge for year

68,263

Transfer to ownership

(19,796

)

At 31 May 2025

139,888

NET BOOK VALUE

At 31 May 2025

190,895

At 31 May 2024

175,901

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Other debtors

18,782

6,780

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Bank loans and overdrafts

33,664

30,664

Hire purchase contracts (see note 8)

63,351

52,297

Trade creditors

37,255

29,694

Taxation and social security

22,239

6,666

Other creditors

435,056

463,300

591,565

582,621

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.25

31.5.24

£

£

Bank loans

546,729

576,810

Hire purchase contracts (see note 8)

135,593

126,295

682,322

703,105

31.5.25

31.5.24

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

412,073

454,154

Repayable by instalments

Hire purchase

660

-

The bank loans are secured on the Golf Course land and the hire purchase contracts are secured on the assets purchased.

The original bank loan outstanding at the year end is £580,393 (2024: £607,474) repayable over fifteen years. Interest is charged every quarter.

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.5.25

31.5.24

£

£

Net obligations repayable:

Within one year

63,351

52,297

Between one and five years

134,933

126,295

In more than five years

660

-

198,944

178,592

Non-cancellable

operating leases

31.5.25

31.5.24

£

£

Within one year

2,964

2,993

Between one and five years

1,539

2,688

4,503

5,681

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.25

31.5.24

£

£

Bank loans

580,393

607,474

Hire purchase contracts

198,944

178,592

779,337

786,066

10.	PROVISIONS FOR LIABILITIES

31.5.25

31.5.24

£

£

Deferred tax

Accelerated capital allowances

3,527

3,159

Other timing differences

3,187

3,187

6,714

6,346

Deferred

tax

£

Balance at 1 June 2024

6,346

Provided during year

368

Balance at 31 May 2025

6,714

11.

RESERVES

Income

and

expenditure

Revaluation

account

reserve

Totals

£

£

£

At 1 June 2024

632,378

164,605

796,983

Deficit for the year

(36,424

)

(36,424

)

At 31 May 2025

595,954

164,605

760,559

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Candice Higgins (Senior Statutory Auditor)

for and on behalf of Whitehead & Howarth

13.	CAPITAL COMMITMENTS

31.5.25

31.5.24

£

£

Contracted but not provided for in the

financial statements

-

70,404

14.	ULTIMATE CONTROLLING PARTY

There is no one controlling party.