Company No: 00209451 (England and Wales)

Contents

• Company Information
• Directors' Report
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	K P Broderick
	G D Clark
	S Daynes (Resigned 31 July 2025)
	R P Ferguson (Resigned 01 January 2026)
	N Leech
	N S Melvin
	S P Moult (Appointed 01 January 2026)
	D Ratcliffe
	R B Smithies (Appointed 01 August 2025)
	H Sutcliffe

REGISTERED OFFICE	Hopwood Cottage
	Rochdale Road
	Middleton
	Manchester
	M24 6QP
	United Kingdom

COMPANY NUMBER

00209451 (England and Wales)

ACCOUNTANT	S&W Partners (Manchester) Limited
	3rd Floor Northern Assurance
	Albert Square
	9/21 Princess Street
	Manchester
	M2 4DN

REVIEW OF BUSINESS

The financial year ending 31st January 2026 was positive for Manchester Golf Club, with improvements across revenue, profitability, and cash position.

Turnover for the twelve months to 31st January 2026 was £1,702,701 an increase of 5% on prior year revenue of £1,617,979. The growth was driven by higher membership subscriptions, higher Green Fee income, and increased bar and catering activities. It is very positive that this year we were not as dependent upon “windfall” income, and growth occurred in core trading activities.

Overall costs were £1,657,036 for the year to 31 January 2026, an increase of 5% on prior year costs of £1,579,481.

There was an overall surplus of £45,665 before taxation for the year to 31 January 2026, compared to a surplus of £38,498 in the prior year.

The surplus for the year of £45,665 compares to the Budget surplus of £61,821. To make a realistic assessment of actual against Budget we have considered abnormal incomes and costs during the year that are outside the Budget. The net operational result for the year excluding abnormal items was a surplus of £55,102. Council is satisfied with the surplus achieved. The surplus will help to fund future projects.

Capital Expenditure during the year amounted to £65,447 compared to £223,982 in the prior year. This expenditure was on course machinery. The apparent reduction in capital expenditure is due to a significant purchase of course machinery in December 2024 ahead of the 25/26 financial year. The capital cost is charged to the annual accounts via depreciation (over 5 years for Course machinery).

The Fixed Asset Register was reviewed at the end of the year to add the new assets, and to check the fair value of assets within the register. This year the depreciation charge was £167,316.

The balance sheet has strengthened during the year. Net assets increased to £596K (2025:551K), supported by retained profits. Cash balance improved significantly to £602K (2025:446K). In addition, the net current liability position reduced considerably.

Member subscriptions in the year to 31 January 2026 totalled £753,395 an increase of 7% on the prior year figure of £706,957. The value of member subscriptions continues to be the foundation and focus for all Manchester Golf Club operations.

During 2025 the Club received several new applications for membership. These applications were processed, along with resignations and category change requests from existing members. The overall result was increase in membership, without an increase in the number of Full 7-day members. At 31/01/26 there were 834 members, including 635 playing members.

An Entrance Fee for 7-Day membership remains in place, although several 6-Day members will benefit from our Loyalty Scheme which reduces the Entrance Fee to zero over a 3-year period. From 01/02/23 an Entrance Fee of £500 to become a 6-Day member applied.

In 25/26 the total income from Entrance Fees was £37,374. Entrance Fee income is ring-fenced for future expenditure on course improvements.

The contribution from Green Fees was £223,789 in the year, compared to £168,109 last year. This was an excellent performance and is testimony to the quality of our course and the excellent service provided by our staff. Green fee income is a major factor in reducing increases in member subscriptions.

The turnover contribution from competitions was £91,672 in the year. There was a full programme of competitions during the year, and a very successful Festival Week and season of Open Competitions.

The contribution from buggy hire was £32,953 in the year, compared to £25,229 last year. Buggy hire provides a good source of secondary income for the Club.

Bar and Catering provided an improved contribution over the year, with an increase in turnover, and a gross margin of 62%. Members should note that the stated bar & catering turnover is after the deduction of member’s discounts.

The Club continues to invest in our golf course, including an increase in the annual operational Greens budget and the purchase of course machinery described above.

A programme of major drainage works started in the Winter of 2024 and will continue as specific areas of the course are targeted. In addition, our own Greens Staff continue to implement a programme of Winter course improvements.

We are still progressing a Biodiversity Net Gain (BNG) scheme at Manchester Golf Club. Although the process to develop a scheme has been challenging and time consuming, the aspiration to start to receive a net income from BNG in 2026 remains valid. The income, if it occurs, will probably be spread over the next 5 years. This secondary income will help to fund the major projects that are in the pipeline.

In April 2026 we appointed a firm of Golf Architects to produce a new masterplan for the golf course. The work of the Architects is ongoing, and proposals will be shared with members in due course.

Overall, the Club is in a stronger financial position at the year end, with improved profitability, robust cash reserves, and a more stable income base. The underlying performance of the Club indicates a positive trajectory, and a solid platform for future stability and growth.

The staff working for our Club have been relatively unchanged. The Directors know that we have a strong team of senior managers that will continue to move the Club forward. All our staff continue to provide an excellent service to members.

The Directors thank all the staff for their efforts, perseverance, and loyalty over the last year.

The Directors thank Brian Connor and his staff for the continued services and support that they provided during the last year.

The Directors thank the members for their continued full support. Manchester Golf Club is a member's golf club, and the financial performance of the club depends entirely upon the support and goodwill of the members.

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	870,061		970,705
		870,061		970,705
Current assets
Stocks	4	10,319		9,330
Debtors	5	37,348		42,654
Cash at bank and in hand	6	602,224		446,139
		649,891		498,123
Creditors: amounts falling due within one year	7	( 852,730)		( 664,265)
Net current liabilities		(202,839)		(166,142)
Total assets less current liabilities		667,222		804,563
Creditors: amounts falling due after more than one year	8	( 70,920)		( 253,926)
Net assets		596,302		550,637
Capital and reserves
Called-up share capital		0		0
Revaluation reserve		208,908		208,908
Capital redemption reserve		9,140		9,140
Profit and loss account		378,254		332,589
Total shareholders' funds		596,302		550,637

For the financial year ending 31 January 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Manchester Golf Club, Limited (The) (registered number: 00209451) were approved and authorised for issue by the Board of Directors on 01 June 2026. They were signed on its behalf by:

D Ratcliffe Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Manchester Golf Club, Limited (The) (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hopwood Cottage, Rochdale Road, Middleton, Manchester, M24 6QP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Manchester Golf Club, Limited (The) is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The main element of the company's turnover is from bar and catering sales and subscription fees. Bar and catering income is recognised on sale. Subscription fees are due annually with the subscription period running consistent to the company's financial year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	5 years straight line
Fixtures and fittings	2 - 5 years straight line

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	27		27

3. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 February 2025	1,120,730		1,071,215		387,746		2,579,691
Additions	0		65,447		1,225		66,672
Transfers	2		0		0		2
At 31 January 2026	1,120,732		1,136,662		388,971		2,646,365
Accumulated depreciation
At 01 February 2025	612,795		692,679		303,512		1,608,986
Charge for the financial year	16,263		121,456		29,599		167,318
At 31 January 2026	629,058		814,135		333,111		1,776,304
Net book value
At 31 January 2026	491,674		322,527		55,860		870,061
At 31 January 2025	507,935		378,536		84,234		970,705

4. Stocks

	2026		2025
	£		£
Stocks	10,319		9,330

5. Debtors

	2026		2025
	£		£
Trade debtors	28,244		11,461
Other debtors	9,104		31,193
	37,348		42,654

6. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	602,224		446,139

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans (secured)	8,333		10,000
Trade creditors	64,487		72,834
Accruals and deferred income	459,717		433,423
Other taxation and social security	12,118		0
Obligations under finance leases and hire purchase contracts (secured)	246,683		83,937
Other creditors	61,392		64,071
	852,730		664,265

8. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans (secured)	0		8,333
Obligations under finance leases and hire purchase contracts (secured)	0		162,673
Other creditors	70,920		82,920
	70,920		253,926

The bank loan totalling is secured by way of fixed and floating charges on the company's assets.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2026		2025
	£		£
Other creditors (repayable by instalments)	22,920		34,920

9. Limited by guarantee

The company does not have an issued share capital being limited by guarantee. In the event of the company being wound up, every full member is liable to contribute an amount not exceeding £1.