REGISTERED NUMBER: 00395626 (England and Wales)

CREIGIAU GOLF CLUB LIMITED

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2026

Page

Company Information

1

Chairman's Report

2

Statement of Financial Position

4

Notes to the Financial Statements

5

DIRECTORS:

Mrs A J Morgans

Mrs M Sparks

Mrs J Stamenkovic

Mr L Weeks

Mr D Mohamed

Mr A R Stamenkovic

SECRETARY:

Mr R Brookman

REGISTERED OFFICE:

Creigiau Golf Club

Llantwit Road

Creigiau

Cardiff

CF15 9NN

REGISTERED NUMBER:

00395626 (England and Wales)

AUDITORS:

Carston ETL

Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

Taking over as club captain at short notice was never going to be easy, however it was a honour and a privilege to do so. May saw our new professional Joe Gibbs arrive, he brought a breath of fresh air to the club along with his assistant Delwyn Williams. I emphasised with Joe that we needed to target both ladies and junior members which he agreed to do so.

His new to Golf scheme saw 23 ladies trying out this wonderful game and some of these ladies have already signed up for 100 more holes. I'm sure they will soon become fully fledged members of the club. The junior Academy on a Sunday is now well established & looking forward to the coming season for the juniors to be a force in the club once again, with Adam Stamenkovic taking over as junior organiser - 25 years after joining as a 10 year old. They have big plans for the session and I wish them well. My thanks must also go to Victoria Hughes and Sabrina Harris for running the junior section as nongolfers again last year.

I must as always thank those who run the Club from behind the scenes. Richard Brookman as Secretary Manager has always been there to advise and direct me. Being Secretary Manager for over 10 years he has a breath of knowledge of how the Club and the course run. His support, loyalty and hard work made my job easier. I must congratulate him on becoming Captain of the GCMA Wales this year.

Also my thanks to the rest of the office team Nigel Churcher for working on the accounts and giving us both good and bad news throughout the year. Connor O'Keefe for stepping in to Stephanie Ellis's role as she went on maternity leave, a job well done. Lastly Stephanie herself for her continued support.

Our house manager Lewis Page and your team thank you for the service you give to all members and guests. always welcoming and nothing is too much trouble, even moving tables in the early hours after an event! It's not an easy job but you do it so well.

The reputation of the golf course last year was 2nd to none. The green staff led by Robert Frater and Ben Rees have coped exceptionally well with the drought of last summer and the torrential rain over the winter months and have done an excellent job to give us a fantastic course. Many comments were received in the summer from visitors 'how green we were compared to 5 miles east of us'. We've had influencers playing the course and videoing their game which has helped put the word out there Creigiau is a course you want to play!

Our caterers, Maria and Christina Costaldo, continue to give us exceptional service and their Sunday lunch is sensational. Thank you for all your hard work ladies. If members haven't eaten at the Club I urge you to do so. You won't be disappointed!

Special thanks must go to Match Captain Adam Stamenkovic for organising, running both club & open competitions. It is not an easy job, especially when the system goes wrong & he had to enter over 100 scores manually into the system. Many compliments were received from visitors how well organised the opens were,& how good the course & food was. Adam is now stepping down to help the junior section. Jayne Morgans, who took over as Ladies Match Captain, has done a sterling job throughout the year; well done both.

I must also thank the Management Committee, for their support & guidance & also to your partners as I know it can take up a lot of time.

Jayne Morgans as Chair of Greens as done an exceptional job in an unfamiliar role. You may see robotic mowers around the course in the next couple of weeks something we're looking at with regards to increase fuel costs etc. Alongside Jayne on greens has been Adam Stamenkovic & Les Weeks.

Mary Sparks as Chair of House & Social continued to keep the social diary full over the year. Well done for the variety of events you continue to bring. Also for looking at new ways to refurbish areas. Derhim Mohamed has worked with Mary on H&S & also the Ladies Captain Eirian Evans, thank you for your contribution.

President George Counsell for all your advice & support this year. Our chats have been invaluable, thank you.

A special thanks goes to Lesley Jones for single-handedly keeping the Creigiau Lottery going. Les organises the monthly draw that benefits both the members & the club. The cost is £5 per month & you can set up a direct debit or if you're in the club when the draw is being done you can pay cash. The results are published monthly & 3 prizes are available.

Now to golf matters as that's what we're all here for.

My congratulations must go to the ladies 1st team under Captain Les Jones they gained promotion to division 1 . It was very nerve racking as it came down to the final match of the season. Well done to all those who played. The ladies 2nd team held their own in Division 4 East finishing in 3rd place. Congratulations to Sian Jones & the team.

The ladies also qualified for the Welsh team Championship in Clyne. After beating Greenmeadow in the morning, they unfortunately lost to a strong Clyne team in the afternoon so went forward into the Plate final on the Sunday.

The men's 1st team kept their place in the 1st division, but unfortunately the 2nd team were relegated. Well done to all those who played for the teams this year.

Both men's & ladies' teams were entered into the Victory Shield unfortunately the men lost in the third round but the ladies team of Denise Richards & Gemma Easton got through to the final at Whitchurch but lost to a strong Newport team. Congratulations to you both on your achievement.

I must congratulate our Club. Champions this year Lloyd Forward & Katie Lewis (Westphal) . In what was a dramatic 18th hole for Katie. Congratulations also to all the Cup winners. It was an honour to present the trophies to you all. Although I must personally congratulate my husband David, who walked away with 5 trophies on the night!

We were well represented in the Wales Golf finals in Llandrindod Wells, unfortunately due to bad weather one day was cancelled which was a pity for Adrian Fraser Jones who had travelled back from Portugal to play the Senior Greensomes with Stuart Lancaster.

A highlight of the year was taking a team of volunteers to the AIG Ladies British Open at Porthcawl. For 6 days Nigel Churcher & I were in charge of hole 10 with our volunteers. What an experience for us all to present Creigiau Golf Club on the world stage. We all thoroughly enjoyed the experience & didn't mind the early morning starts, the rain on the final morning & of course the free clothing!!

It was also a great pleasure to work with Eirian Evans as the Lady Captain. I know that you've thoroughly enjoyed your year & we both definitely enjoyed playing in the Bank Holiday mixed rounds.

I was pleased to be able to host a charity evening for Ty Hafan my chosen charity this year. John Perry reinstated the Waldour Street Band who gave a great performance & with the raffle we raised over £1000 for Ty Hafan. Thank you to everyone who contributed to the event.

To all the members thank you for your support & I wish you all a happy golfing year. You are all what makes this golf club a great Please support the club as much as possible. The recent weather has most certainly caused the club some concern, which has a detrimental effect on the clubs finances. However I'm pleased to say we have come to the end of the year with a profit!

Finally to Robert Edwards who stepped in as Vice-Captain in December I wish you a successful year as Captain. Thank you for your hard work over the past 4 months.

Jackie Stamenkovic

FIXED ASSETS

Tangible assets

4

1,075,101

1,080,517

Investment property

5

260,000

260,000

1,335,101

1,340,517

CURRENT ASSETS

Stocks

13,344

11,405

Debtors

6

31,763

30,467

Cash at bank and in hand

114,143

99,126

159,250

140,998

CREDITORS

Amounts falling due within one year

7

176,253

213,993

NET CURRENT LIABILITIES

(17,003

)

(72,995

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,318,098

1,267,522

CREDITORS

Amounts falling due after more than one year

8

40,209

41,630

NET ASSETS

1,277,889

1,225,892

RESERVES

Revaluation reserve

10

222,840

222,840

Income and expenditure account

1,055,049

1,003,052

1,277,889

1,225,892

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 14th April 2026 and were signed on its behalf by:

Mrs J Stamenkovic - Director

Mr M A Baird - Director

1.	STATUTORY INFORMATION

Creigiau Golf Club Limited 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 is accounted for on a cash received basis other than to the extent that there are significant amounts of income, principally sources of membership income, received in respect of other accounting periods, which are then carried forward to one or more following accounting periods.

Turnover as shown in the statement of income and retained earnings comprises income from bar sales and is shown exclusive of Value Added Tax. Subscriptions and other income from members and third parties is shown as other operating income.

Tangible fixed assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Course development capital expenditure is capitalised and included in fixed assets.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold buildings - 2% & 10% straight line

Plant & machinery - 33% reducing balance

Fixtures and Fittings - 15% straight line

Computer Equipment - 33% straight line

No depreciation is provided on freehold land or golf courses.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in surplus or deficit.

During the year, Fairways house was reclassified from Freehold Property to Investment Property to reflect the basis under which the property is held and letted out

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Rentals paid under operating leases are charged to surplus or deficit 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.

Going concern

As at 31 January 2026, the company had net current liabilities of £17,003 (2025: net current liabilities of £72,995) after making a profit of £51,996 in the year then ended (2025: £228,491, which included a gain on revaluation of £222,840) . Included within the company's current liabilities are deferred subscriptions of £92,372 (2025: £80,855) at the year-end.

The management committee has been working proactively and have revisited their forecasts and cash flows with regard to the current economic environment and putting measures in place to improve income streams and control spending. As a result, after making enquiries, the management committee believe they have a reasonable expectation that the company can build up adequate resources to allow the company to continue for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the company's financial statements.

There have been significant price increases resulting from the cost of living crisis and current economic uncertainty. It is difficult to accurately quantify the effects this will have on the company, but the management committee are committed to monitoring the situation closely and make timely decisions to reduce the impact.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2025 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st February 2025

1,229,455

371,456

293,362

Additions

6,842

12,639

18,389

Disposals

-

(30,054

)

(170,173

)

At 31st January 2026

1,236,297

354,041

141,578

DEPRECIATION

At 1st February 2025

243,289

301,572

270,316

Charge for year

8,360

24,686

9,249

Eliminated on disposal

-

(29,516

)

(169,951

)

At 31st January 2026

251,649

296,742

109,614

NET BOOK VALUE

At 31st January 2026

984,648

57,299

31,964

At 31st January 2025

986,166

69,884

23,046

Cups &

Computer

Trophies

equipment

Totals

£

£

£

COST

At 1st February 2025

163

19,023

1,913,459

Additions

-

540

38,410

Disposals

-

(13,013

)

(213,240

)

At 31st January 2026

163

6,550

1,738,629

DEPRECIATION

At 1st February 2025

-

17,765

832,942

Charge for year

-

771

43,066

Eliminated on disposal

-

(13,013

)

(212,480

)

At 31st January 2026

-

5,523

663,528

NET BOOK VALUE

At 31st January 2026

163

1,027

1,075,101

At 31st January 2025

163

1,258

1,080,517

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st February 2025

and 31st January 2026

260,000

NET BOOK VALUE

At 31st January 2026

260,000

At 31st January 2025

260,000

Fair value at 31st January 2026 is represented by:

£

Valuation in 2025

260,000

If Fairways House had not been revalued it would have been included at the following historical cost:

2026

2025

£

£

Cost

37,160

37,160

Fairways House was valued on an open market basis on 28th February 2024 by Watts & Morgan .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

-

1,600

Other debtors

31,763

28,867

31,763

30,467

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

-

15,000

Hire purchase contracts (see note 9)

11,880

14,784

Trade creditors

36,651

45,930

Taxation and social security

5,892

9,002

Other creditors

121,830

129,277

176,253

213,993

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

-

5,000

Hire purchase contracts (see note 9)

24,750

36,630

Other creditors

15,459

-

40,209

41,630

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2026

2025

£

£

Net obligations repayable:

Within one year

11,880

14,784

Between one and five years

24,750

36,630

36,630

51,414

Non-cancellable

operating leases

2026

2025

£

£

Within one year

21,032

21,905

Between one and five years

24,148

45,180

45,180

67,085

10.

RESERVES

Revaluation

reserve

£

At 1st February 2025

and 31st January 2026

222,840

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

The Report of the Auditors was unqualified.

Farzana Ahmed (Senior Statutory Auditor)

for and on behalf of Carston ETL

Material uncertainty relating to going concern

We draw attention to note 2 in the financial statements, which indicates that, as at 31 January 2025, the company had net current liabilities of £72,995 (2024: net current liabilities of £52,124) after making a profit of £228,491 (2024: £33,940) in the year then ended, which includes a gain on revaluation of £222,840. Included within the company's current liabilities are deferred subscriptions of £80,855 (2024: £110,116) at the year-end.

The management committee are aware of the situation and, after making enquiries, are putting measures in place to improve income streams and control spending which they anticipate will build adequate resources to allow the company to continue operating for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the company's financial statements.

As stated in note 2, these events or conditions, along with the other matters as set forth in note 2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

12.	CAPITAL COMMITMENTS

2026

2025

£

£

Contracted but not provided for in the

financial statements

-

2,496