Company Registration No. SC012508 (Scotland)
DUNBLANE NEW GOLF CLUB LTD. (THE)
(A COMPANY LIMITED BY GUARANTEE)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
DUNBLANE NEW GOLF CLUB LTD. (THE)
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
DUNBLANE NEW GOLF CLUB LTD. (THE)
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
391,934
374,977
Current assets
Stocks
9,526
9,526
Debtors
4
600
-
0
Current asset investments
5
-
0
50,000
Cash at bank and in hand
251,170
213,155
261,296
272,681
Creditors: amounts falling due within one year
6
(132,990)
(126,494)
Net current assets
128,306
146,187
Total assets less current liabilities
520,240
521,164
Creditors: amounts falling due after more than one year
7
(48,102)
(46,448)
Net assets
472,138
474,716
Reserves
Other reserves
128,132
63,668
Income and expenditure account
9
344,006
411,048
Members' funds
472,138
474,716

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

DUNBLANE NEW GOLF CLUB LTD. (THE)
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2025
30 September 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 1 December 2025 and are signed on its behalf by:
Ms L Brown
Signed on behalf of the board
Company Registration No. SC012508
DUNBLANE NEW GOLF CLUB LTD. (THE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
1
Accounting policies
Company information

Dunblane New Golf Club Ltd. (The) is a private company limited by guarantee incorporated in Scotland. The registered office is Club House, Perth Road, Dunblane, FK15 0LJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Turnover represents amounts receivable for the use of golfing facilities and services supplied to members and visitors excluding value added tax.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Clubhouse and buildings
5% Straight Line
Leasehold land
2% Straight Line
Plant and equipment
25% Reducing Balance
Fixtures and fittings
10% Straight Line
Tractors and vehicles
25% Reducing Balance

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 surplus or deficit.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

DUNBLANE NEW GOLF CLUB LTD. (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

1.6
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 current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

DUNBLANE NEW GOLF CLUB LTD. (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

DUNBLANE NEW GOLF CLUB LTD. (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.10

Other reserves

The centenary reserve has been created with a specific purpose to reserve funds for the funding of the celebrations for the centenary of the club.

The junior golf development reserve has been created with a specific purpose to reserve funds for the funding of the development of junior golfers.

The 2044 lease reserve was set up to fund repayments and interest.

The course development reserve has been created with a specific purpose to reserve funds for the funding of the development and improvement of the golf course.

2
Employees

The average monthly number of persons (excluding directors) employed by the company during the year was 15 (2024 - 13).

2025
2024
Number
Number
Total
15
13
3
Tangible fixed assets
Clubhouse Buildings & Leasehold Land
Other Fixed Assets
Total
£
£
£
Cost
At 1 October 2024
771,728
639,880
1,411,608
Additions
55,329
6,043
61,372
At 30 September 2025
827,057
645,923
1,472,980
Depreciation and impairment
At 1 October 2024
521,871
514,762
1,036,633
Depreciation charged in the year
14,387
30,027
44,414
At 30 September 2025
536,258
544,789
1,081,047
Carrying amount
At 30 September 2025
290,799
101,134
391,933
At 30 September 2024
249,855
125,122
374,977

Fixed assets with a carrying value of £391,933 (2024: £374,977) have been pledged to secure borrowings of the company.

DUNBLANE NEW GOLF CLUB LTD. (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 7 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Service charges due
600
-
0
5
Current asset investments
2025
2024
£
£
Cash deposits
-
0
50,000

Above represents cash deposits with a longer than 90 days deposit period.

6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
23,460
32,207
Taxation and social security
7,940
7,216
Other creditors
101,590
87,071
132,990
126,494

The Bank of Scotland PLC has security dated 19 June 2013 by way of a floating charge over the assets and undertaking of the company.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
48,102
46,448
8
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

DUNBLANE NEW GOLF CLUB LTD. (THE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
9
Income and expenditure account
2025
2024
£
£
At the beginning of the year
411,048
421,515
Adjusted balance
411,048
421,515
Surplus/(deficit) for the year
2,664
(467)
Transfer to reserves
(69,706)
(10,000)
At the end of the year
344,006
411,048
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