The West Hill Golf Club (1959) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

The West Hill Golf Club (1959) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00635571 . The registered office is Bagshot Road, Brookwood, Woking, GU24 0BH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

2.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis.

The Directors have reviewed and considered relevant information, including the annual budget and cash flow forecast for at least 12 months from the date of approval of these financial statements. Based on this review, the Directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

2.3. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax.

Income from the sale of lifetime membership is deferred and each financial year an amount equal to the annual subscription for that year is recognised as income in the Profit and Loss Account.

2.4. Tangible Fixed Assets and Depreciation

Capital expenditure is depreciated at the following rates:

Freehold	5% - 33% straight line basis
Assets Under Construction	Stated at cost; not depreciated until complete and available for use
Plant & Machinery	10% - 20% straight line basis

A professional valuation of the freehold property was obtained in 1998, which indicated a value on an existing use basis of £1,920,000. On the introduction of FRS 102, the freehold property was revalued at this amount in the company’s balance sheet, producing a fair value reserve, and the valuation amount taken forward in future years as deemed cost. The company does not depreciate the stated fair value reserve as the directors' feel that doing so would not result in the financial statements showing a true and fair view. If depreciation had been charged the company would have reported lower net assets as at the year end and a reduced profit for the year, however we are unable to quantify the financial effect of this departure from Financial Reporting Standard 102 and the Companies Act 2006.

2.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Where assets are financed by leasing agreements that give rights approximating to ownership ("finance leases"), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable during the lease term. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight-line basis over the term of the lease.

2.6. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value.

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The West Hill Golf Club (1959) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

2.7. Financial Instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established where there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company’s cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

3. Average Number of Employees

Average number of employees during the year was:

	2026	2025
Course	11	10
House	9	9
Administration	3	3

	23	22

4. Tangible Assets

	Land & Property
	Freehold	Assets Under Construction	Plant & Machinery	Total
	£	£	£	£
Cost
As at 1 July 2025	3,951,841	-	1,799,752	5,751,593
Additions	383,661	-	128,514	512,175
Disposals	-	-	(75,116 )	(75,116 )
Other	-	27,894	-	27,894

As at 30 June 2026	4,335,502	27,894	1,853,150	6,216,546

Depreciation
As at 1 July 2025	1,147,173	-	1,222,673	2,369,846
Provided during the period	101,390	-	189,849	291,239
Disposals	-	-	(75,116 )	(75,116 )

As at 30 June 2026	1,248,563	-	1,337,406	2,585,969

Net Book Value
As at 30 June 2026	3,086,939	27,894	515,744	3,630,577

As at 1 July 2025	2,804,668	-	577,079	3,381,747

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2026	2025
	£	£
Plant & Machinery	403,589	440,262

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The West Hill Golf Club (1959) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

5. Stocks

	2026	2025
	£	£
Stock	22,388	25,423

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	34,638	15,948
Prepayments and accrued income	91,908	96,921
Other debtors	12,804	11,138

	139,350	124,007

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	119,111	112,862
Trade creditors	105,030	140,480
Bank loans and overdrafts	7,012	10,000
Other taxes and social security	25,278	22,407
VAT	31,922	31,850
Other creditors	99,523	75,954
Subscriptions in advance	1,065,571	989,358
Member card balances	58,795	59,729
Leaver Member 2002 Loan	23,250	23,250
Accruals and deferred income	67,879	54,644

	1,603,371	1,520,534

During the year ended 30 June 2021 the Club took out a six year £50,000 Bounce Back Loan which is guaranteed by the UK Goverment. No value has been given in the accounts to the guarantee provided by the UK Goverment. Interest is charged at 2.5% and monthly repayments of £833 started one year after the drawdown of the loan.

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	213,246	269,741
Bank loans	-	7,339
Member 2002 Loan	42,100	42,100
Member 2017 Loan Notes	123,250	123,250

	378,596	442,430

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The West Hill Golf Club (1959) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

The 2002 Member Loan does not bear interest. The 2002 Member Loan is repayable to each member when the company considers it prudent to do so and in any event no later than the date a member ceases to be a member of West Hill Golf Club.

The 2017 Member Loan Notes do not bear interest; however, for each £500 of Loan Notes held members may introduce two guests in each twelve months period to the Club free of payment of green fees. The company is entitled at any time upon giving six months notice to redeem the Loan Notes at par. After 1 July 2027, the Loan Notes are payable at par upon the request of the note holders with a six months' notice period. If a Loan Note holder ceases to be a member the company shall redeem the Loan Notes within six months after the date of termination unless the Directors determine it is not in the interests of the company to do so.

The hire purchase liabilities are secured over the assets concerned.

9. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	119,111	112,862
Later than one year and not later than five years	213,246	269,741

	332,357	382,603

	332,357	382,603

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	26,985	26,975

During the year 10 ordinary shares of £1 each were issued to new members for a total consideration of £53,487 including share premium of £53,477. In addition, a further £5,150 addition to share premium was made.

In September 1968 the Company established a Trust whose sole purpose is to acquire shares in the Company held by individuals who have ceased to be members for any reason whether through leaving the club or through death. Shares acquired by the Trust are held for the benefit of all members of the Club and may be issued to individuals who join the Club. Whilst the Company controls the Trust it has not presented consolidated financial statements because it qualifies as a small company under the Companies Act and is therefore exempt from preparing consolidated financial statements. As at 30 June 2026 the Trust held 6,362 shares.

As at 30 June 2026 18,569 shares are held by individuals that are no longer members of the golf club. Pursuant to the articles of association such shareholders have no right to attend or vote at meetings of the Company. In addition, such shareholders have no right to the residual net assets of the Company upon a winding up

11. Reserves

	Share Premium	Fair value reserve	Profit and Loss Account
	£	£	£
As at 1 July 2025	2,377,007	1,569,662	(3,500 )
Profit for the year and total comprehensive income	-	-	168,663

Arising on shares issued during the period	58,627	-	-

As at 30 June 2026	2,435,634	1,569,662	165,163

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The West Hill Golf Club (1959) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

12. Related Party Transactions

At 30 June 2026 and 30 June 2025 the company owed the following amounts to directors and connected partners in respect of loan notes:

Mr D Andrews £250

Mr I Bain £750

Mr J Brennen £250

Ms L Daniel £4,000

Mr P Edwards £250

Mr B Fraser £250

Mrs J Gilkes £2,000

Mr D Harrison £1,750

Mr P Lewis £250

Mrs K McKimmie £2,500

Mr B Morris £1,250

Mr J Thomas £3,000

The directors pay normal golf subscriptions.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		3,630,577		3,381,747

			3,630,577		3,381,747
CURRENT ASSETS
Stocks	5	22,388		25,423
Debtors	6	139,350		124,007
Cash at bank and in hand		2,387,096		2,401,931

		2,548,834		2,551,361
Creditors: Amounts Falling Due Within One Year	7	(1,603,371 )		(1,520,534 )

NET CURRENT ASSETS (LIABILITIES)			945,463		1,030,827

TOTAL ASSETS LESS CURRENT LIABILITIES			4,576,040		4,412,574

Creditors: Amounts Falling Due After More Than One Year	8		(378,596 )		(442,430 )

NET ASSETS			4,197,444		3,970,144

CAPITAL AND RESERVES
Called up share capital	10		26,985		26,975
Share premium account			2,435,634		2,377,007
Fair value reserve	11		1,569,662		1,569,662
Profit and Loss Account			165,163		(3,500 )

SHAREHOLDERS' FUNDS			4,197,444		3,970,144

Ms L Daniel Director	Mr J Thomas Director
25/10/2026