ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 13937821

JOHN O'GAUNT GOLF CLUB LIMITED

(A Company Limited by Guarantee)

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

JOHN O'GAUNT GOLF CLUB LIMITED

(A Company Limited by Guarantee)

REGISTERED NUMBER: 13937821

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		2,471,648		2,198,756
Investments	5		50,166		50,166
			2,521,814		2,248,922
Current assets
Stocks	6	17,353		24,799
Debtors: amounts falling due within one year	7	137,077		111,205
Cash at bank and in hand	8	580,790		531,437
		735,220		667,441
Creditors: amounts falling due within one year	9	(700,032)		(548,062)
Net current assets			35,188		119,379
Total assets less current liabilities			2,557,002		2,368,301
Creditors: amounts falling due after more than one year	10		(252,726)		(357,534)

Net assets			2,304,276		2,010,767

Capital and reserves
Other reserves	1,879,101	1,879,101
Profit and loss account	425,175	131,666
	2,304,276	2,010,767

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JOHN O'GAUNT GOLF CLUB LIMITED

(A Company Limited by Guarantee)

REGISTERED NUMBER: 13937821

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

K N Kiernan

Director

Date: 11 May 2026

The notes on pages 3 to 13 form part of these financial statements.

Page 2

JOHN O'GAUNT GOLF CLUB LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

John O'Gaunt Golf Club Limited is a private company limited by guarantee without share capital, incorporated in England and Wales. The registered office is Sutton Park Biggleswade Road, Sutton, Sandy, Bedfordshire, SG19 2LY.

The principal activity is that of a golf club.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, the company will derive its revenue in the main from the following activites of (i) promotion and encouragement of the game of golf; (ii) from the provision of golfing facilities; and (iii) organisation of competitions and social functions.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

JOHN O'GAUNT GOLF CLUB LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

2.5

Borrowing costs

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

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

JOHN O'GAUNT GOLF CLUB LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.8

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Lease improvements	-	2%	Straight-line method
Course machinery	-	25%	Straight-line method
Kitchen & bar equipment	-	25%	Straight-line method
Office equipment	-	25%	Straight-line method
Irrigation course improvements	-	5%	Straight-line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

JOHN O'GAUNT GOLF CLUB LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price after transaction costs.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

JOHN O'GAUNT GOLF CLUB LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Employees

The average monthly number of employees, including directors, during the year was 34 (2024 - 35).

Page 7


		JOHN O'GAUNT GOLF CLUB LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Tangible fixed assets

	Long-term leasehold property	Plant and machinery	Fixtures and fittings	Office equipment	Other fixed assets	Total
	£	£	£	£	£	£
Cost or valuation
At 1 January 2025	2,240,347	1,275,935	270,190	23,886	877,762	4,688,120
Additions	41,026	297,056	23,892	-	121,906	483,880
Disposals	-	(253,479)	-	-	-	(253,479)
At 31 December 2025	2,281,373	1,319,512	294,082	23,886	999,668	4,918,521
Depreciation
At 1 January 2025	959,448	1,208,014	183,197	19,680	119,025	2,489,364
Charge for the year on owned assets	47,621	72,684	34,132	2,609	47,381	204,427
Disposals	-	(246,918)	-	-	-	(246,918)
At 31 December 2025	1,007,069	1,033,780	217,329	22,289	166,406	2,446,873
Net book value
At 31 December 2025	1,274,304	285,732	76,753	1,597	833,262	2,471,648
At 31 December 2024	1,280,899	67,921	86,993	4,206	758,737	2,198,756

Page 8

JOHN O'GAUNT GOLF CLUB LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2025	50,166
	At 31 December 2025	50,166

6.	Stocks
		2025	2024
		£	£

Finished goods and goods for resale	17,353	24,799
	17,353	24,799

Debtors

					2025	2024
					£	£


Trade debtors	1,385	11,127
Amounts owed by group undertakings	53,782	53,782
Other debtors	48,983	16,378
Prepayments and accrued income	32,927	29,918
	137,077	111,205

Page 9

JOHN O'GAUNT GOLF CLUB LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

8.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	580,790	531,437
Less: bank overdrafts	(4,743)	-
	576,047	531,437

9.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	4,744	-
Bank loans	24,070	24,070
Trade creditors	53,536	69,107
Other taxation and social security	26,850	37,419
Obligations under finance lease and hire purchase contracts	134,179	73,316
Other creditors	104,776	84,073
Accruals and deferred income	351,877	260,077
	700,032	548,062

The following liabilities were secured:
	2025	2024
	£	£


Bank loans	24,070	24,070
Finance lease and hire purchase contracts	57,676	73,316
	81,746	97,386

Details of security provided:

The bank loans are secured by a legal charge on John O'Gaunt Golf and Country Club, Biggleswade Road, Sutton, Sandy, Bedfordshire and its associated assets.

The obligations under the finance lease and hire purchase contracts are secured on the assets to which they relate.

Page 10

JOHN O'GAUNT GOLF CLUB LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

10.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	246,103	279,477
Net obligations under finance leases and hire purchase contracts	6,623	78,057
	252,726	357,534

The following liabilities were secured:
	2025	2024
	£	£


Bank loans	246,103	279,477
Finance lease and hire purchase contracts	83,126	78,057
	329,229	357,534

Details of security provided:

Page 11

JOHN O'GAUNT GOLF CLUB LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Amounts falling due within one year
Bank loans	24,070	24,070
	24,070	24,070
Amounts falling due 1-2 years
Bank loans	24,070	24,070
	24,070	24,070
Amounts falling due 2-5 years
Bank loans	72,210	72,211
	72,210	72,211
Amounts falling due after more than 5 years
Bank loans	149,823	183,196
	149,823	183,196
	270,173	303,547

Within one year	134,179	73,316
Between 1-5 years	6,623	78,057
	140,802	151,373

Page 12

JOHN O'GAUNT GOLF CLUB LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025


13.	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £5 towards the assets of the company in the event of liquidation.

14.	Controlling party
	In the opinion of the Directors there is no ultimate controlling party of the company.

Page 13