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Registered number: 07575831
GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2026
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER: 07575831
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2026
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Stocks & work in progress
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Capital contribution reserve
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Investment properties revaluation reserve
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER: 07575831
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2026
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 comprehensive income 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 on 28 October 2026.
The notes on pages 3 to 12 form part of these financial statements.
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
Guildford Golf Club Limited (07575831) is a private company limited by guarantee and incorporated in England & Wales. Its registered office is Guildford Golf Club, Grove Road, Merrow, Guildford, Surrey, GU1 2HL.
2.Accounting policies
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Basis of preparation of financial statements
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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 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:
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.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Interest income is recognised in profit or loss using the effective interest method.
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
2.Accounting policies (continued)
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.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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.
When the Club incorporated and the assets were transferred on 1 July 2011, it was the opinion of the Board, in order for the financial statements to show a true and fair view, the fixed assets should be accounted for based upon the historical cost paid by the old unincorporated Members Club less depreciation at the date of acquisiton rather than at their market value at that date The Directors considered that the expense that would be incurred in obtaining a market value of all the tangible fixed assets taken over and the subsequent recording of any Reserves so arising or determined, to be wholly disproportionate to any benefit achieved by the reader of these accounts.
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Land is not depreciated. Depreciation on other assets 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:
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Over 10 to 40 years on a straight line basis
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Over 10 to 50 years on a straight line basis
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25% on a straight line basis
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Pick up truck and trailer
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25% on a straight line basis
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25% on a straight line basis
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Course equipment and improvements
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25% on a straight line basis
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33% on a straight line basis
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10% on a straight line basis
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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.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
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 reporting 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.
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.
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
2.Accounting policies (continued)
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Cash and cash equivalents
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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.
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.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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The average monthly number of employees during the year was as follows:
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
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Machine sheds, car park & surrounds
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Course equipment & improvements
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Charge for the year on owned assets
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
4.Tangible fixed assets (continued)
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Charge for the year on owned assets
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The net book value of land and buildings may be further analysed as follows:
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
4.Tangible fixed assets (continued)
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Tangible fixed assets acquired from the old Members Club have been accounted for at historical pre-incorporation cost less depreciation at date of acquisition. This is contrary to FRS 102, which states that assets acquired from another business should be recorded at their fair value.
The remaining net book value of such items included in the above is £225,312 (2025: £246,392) included within freehold property and machinery sheds, car park and surrounds.
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Freehold investment properties
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The 2026 valuations were made by the directors, on an open market value basis.
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If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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Accumulated depreciation and impairments
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Net obligations under finance leases and hire purchase contracts
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Unrealised gains on revaluation of investment properties
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Capital contribution reserve
Historical reserves from the unincorporated golf club contributed upon incorporation.
Investment property revaluation reserve
Non-distributable element of the profit and loss account representing the unrealised surplus on the revaluation of the investment properties, net of potential tax thereon.
Profit & loss account
Net cumulative profits and losses net of other adjustments
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 £1 towards the assets of the company in the event of liquidation.
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
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Commitments under operating leases
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At 30 June 2026 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
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Schedule to the Detailed Accounts
AS AT 30 JUNE 2026
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Profit from bar and catering
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Contracts and consultancy
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Gross profit for the year
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ADMINISTRATION AND GENERAL EXPENSES
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
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Printing, stationery, postage and advertising
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Contributions to junior club
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Bank charges and interest
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General manager & Captains' expenses
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(Profit) / loss on disposal of fixed assets
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Unrealised (loss)/gain on carrying value of investment property
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Operating profit for the year
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GUILDFORD GOLF CLUB LIMITED
(A Company Limited by Guarantee)
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Schedule to the Detailed Accounts for the year ended 30 June 2026
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Gross profit on bar takings
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Gross profit on catering takings
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Gross profit on bar and catering sales
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Profit from bar and catering
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