REGISTERED NUMBER: SC008664 (Scotland)

Unaudited Financial Statements for the Year Ended 31 October 2025

for

Crieff Golf Club Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

467,876

516,620

Investments

5

180,000

180,000

647,876

696,620

CURRENT ASSETS

Stocks

15,768

14,078

Debtors

6

33,417

18,452

Cash at bank and in hand

313,848

293,415

363,033

325,945

CREDITORS

Amounts falling due within one year

7

(191,672

)

(165,181

)

NET CURRENT ASSETS

171,361

160,764

TOTAL ASSETS LESS CURRENT LIABILITIES

819,237

857,384

CREDITORS

Amounts falling due after more than one year

8

(61,558

)

(97,958

)

NET ASSETS

757,679

759,426

RESERVES

Retained earnings

757,679

759,426

757,679

759,426

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 15 December 2025 and were signed on its behalf by:

Mr A McIntosh - Director

Mrs C Hepburn - Director

1.	STATUTORY INFORMATION

Crieff Golf Club Limited is a private company, limited by guarantee, incorporated in Scotland, registration number SC008664. The registered office is Golf Club House, Perth Road, Crieff, PH7 3LR.

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.

Turnover

Turnover represents net invoiced sales of goods and services in respect of golf club income, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

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.

Property

-

10% on cost and 2% on cost

Golf Course Improvements

-

20% on cost and 5% on cost

Plant and machinery

-

20% on cost and 10% on cost

Fixtures and fittings

-

20% on cost and 10% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Golf

Fixtures

Course

Plant and

and

Property

Improvements

machinery

fittings

Totals

£

£

£

£

£

COST

At 1 November 2024

542,723

217,136

629,689

470,308

1,859,856

Additions

-

-

2,565

12,091

14,656

At 31 October 2025

542,723

217,136

632,254

482,399

1,874,512

DEPRECIATION

At 1 November 2024

368,159

175,859

466,513

332,705

1,343,236

Charge for year

10,939

3,839

27,860

20,762

63,400

At 31 October 2025

379,098

179,698

494,373

353,467

1,406,636

NET BOOK VALUE

At 31 October 2025

163,625

37,438

137,881

128,932

467,876

At 31 October 2024

174,564

41,277

163,176

137,603

516,620

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

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 November 2024

83,471

78,500

161,971

Additions

-

5,736

5,736

Transfer to ownership

-

(3,500

)

(3,500

)

At 31 October 2025

83,471

80,736

164,207

DEPRECIATION

At 1 November 2024

12,431

15,613

28,044

Charge for year

8,348

9,251

17,599

Transfer to ownership

-

(2,800

)

(2,800

)

At 31 October 2025

20,779

22,064

42,843

NET BOOK VALUE

At 31 October 2025

62,692

58,672

121,364

At 31 October 2024

71,040

62,887

133,927

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 November 2024

and 31 October 2025

180,000

NET BOOK VALUE

At 31 October 2025

180,000

At 31 October 2024

180,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade debtors

2,771

2,400

Other debtors

30,646

16,052

33,417

18,452

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans and overdrafts

9,999

10,000

Hire purchase contracts

31,606

30,083

Trade creditors

22,592

33,657

Taxation and social security

18,700

5,147

Other creditors

108,775

86,294

191,672

165,181

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans

-

10,000

Hire purchase contracts

61,558

87,958

61,558

97,958

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.25

31.10.24

£

£

Hire purchase contracts

93,164

118,041

Amounts due on hire purchase are secured over the individual assets concerned.

10.	OPERATING LEASE COMMITMENTS

Lessee

A lease exists between the company and Crieff Hydro Limited (the landlord). This lease was registered in 1991 for a 99 year term and provided for an annual rent payment of £9,000 per annum, subject to regular rent reviews. The revised rent from 2022 to 2027 is £39,604 per annum. The remaining rent commitment relates to a second property leased by the company.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025

2024

£

£

51,663

48,764

11.	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.