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REGISTERED NUMBER: 00210169 (England and Wales)















Audited Financial Statements for the Year Ended 31 December 2021

for

Stanmore Links Limited

Stanmore Links Limited (Registered number: 00210169)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stanmore Links Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: M Devlin
P Donelan
A N Hirani
K Khushal
D Niccol
V Pankhania
D Varsani
R Freeman



SECRETARY: J Reynolds



REGISTERED OFFICE: The Club House,
29 Gordon Avenue
Stanmore
Middlesex
HA7 2RL



REGISTERED NUMBER: 00210169 (England and Wales)



SENIOR STATUTORY AUDITOR: Kunal Vyas FCCA, B.Com (Hons)



AUDITORS: Ashford Associates (UK) Ltd
Statutory Auditors
74a High Street
Wanstead
London
E11 2RJ

Stanmore Links Limited (Registered number: 00210169)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 984,147 985,644
Investments 5 1 1
984,148 985,645

CURRENT ASSETS
Stocks 13,017 7,632
Debtors 6 17,343 35,969
Cash at bank and in hand 275,505 122,728
305,865 166,329
CREDITORS
Amounts falling due within one year 7 330,965 359,100
NET CURRENT LIABILITIES (25,100 ) (192,771 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

959,048

792,874

CREDITORS
Amounts falling due after more than one
year

8

126,251

135,243
NET ASSETS 832,797 657,631

CAPITAL AND RESERVES
Called up share capital 166 166
Revaluation reserve 10 558,744 558,744
Retained earnings 273,887 98,721
832,797 657,631

Stanmore Links Limited (Registered number: 00210169)

Balance Sheet - continued
31 December 2021


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 3 July 2022 and were signed on its behalf by:





V Pankhania - Director


Stanmore Links Limited (Registered number: 00210169)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Stanmore Links Limited is a private company, limited by shares , 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.

Revenue
Subscription revenue is recognised in the period to which the subscription relates.

Entrance fees are recognised in the period in when they are paid or due.

Revenue in respect of the sale of other services, including green fees, events, buggy hire and locker rental are recognised in the period in which the services are provided.

Revenue in respect of the sale of goods, including bar sales are recognised on the date the sale of the goods takes place.

All revenue is recognised net of output VAT and discounts.

Stanmore Links Limited (Registered number: 00210169)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
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.

Depreciation 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:

Clubhouse improvements 10% straight line
Plant and machinery 15% straight line
Fixtures and fittings 10% straight line
Computer equipment 25% straight line
Irrigation system 5% straight line



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.



Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance Sheet date.

Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

Investments in subsidiaries
Investments in subsidiaries are measured at cost less accumulated impairment.

Stocks
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 weighted average basis.
Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


Stanmore Links Limited (Registered number: 00210169)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued
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
Operating Leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity, Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Stanmore Links Limited (Registered number: 00210169)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on the going concern basis which assumes that the company will be able to continue trading for the foreseeable future, being not less than twelve months from the date of approval of these financial statements.

The Company has a net current liability position of £25,099 as at the balance sheet date.The directors believe that this is not indicative of the long term financial viability of the Company and are confident that the Company will return to continue to show profitable results.

Coronavirus (COVID-19)

In common with almost every business, the company is likely to be adversely affected by the global outbreak of coronavirus (COVID-19). There is considerable uncertainty as to how big an impact there will be in what manner, and for how long. The directors believe the company to be well placed to manage its affairs, and have sufficient reserves, to allow it to continue to operate throughout and beyond the crisis.

The directors have considered the company's funding requirements and believe that they are adequate to ensure that the company can meet its liabilities as they fall due. Having taken this into consideration, the directors are satisfied that the going concern basis is appropriate for the presentation of these financial statements.
Interest income
Interest income is recognised in profit or loss using the effective interest method.

Finance costs
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.

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Non-member income and expenditure

Income and expenditure relating to non-members is processed through the club's subsidiary, Stanmore Golf & Banqueting Limited.

Bar income relating to non-members is taken as the total bar income for the year less bar income received on member swipe cards.

Green fee income relating to non-members is taken as the proportion of total green fee income which is made up of full green fee rates (i.e. not members' guest rates).

Social event income relating to non-members is taken as an estimate of the room hire income received from non-members for outside functions.

Other income relating to non-members is an estimate based on total other income less competition income, junior section income, standing order surcharges and buggy rental.

The expenditure relating to each of the income streams is taken as the same proportion of non-member income to total income for each expense which is directly attributable to the relevant income stream.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2020 - 12 ) .

Stanmore Links Limited (Registered number: 00210169)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2021 697,838 1,095,570 1,793,408
Additions - 83,000 83,000
Disposals - (12,891 ) (12,891 )
At 31 December 2021 697,838 1,165,679 1,863,517
DEPRECIATION
At 1 January 2021 82,055 725,709 807,764
Charge for year 12,144 59,462 71,606
At 31 December 2021 94,199 785,171 879,370
NET BOOK VALUE
At 31 December 2021 603,639 380,508 984,147
At 31 December 2020 615,783 369,861 985,644


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2021
and 31 December 2021 1
NET BOOK VALUE
At 31 December 2021 1
At 31 December 2020 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 6,964 11,309
Other debtors 10,379 24,660
17,343 35,969

Stanmore Links Limited (Registered number: 00210169)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Finance leases 102,290 97,336
Trade creditors 20,171 19,737
Amounts owed to participating interests 1 1
Taxation and social security 16,035 8,646
Other creditors 192,468 233,380
330,965 359,100

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Bank loans 50,000 -
Finance leases 76,251 135,243
126,251 135,243

9. FINANCIAL INSTRUMENTS



Financial assets

2021 2020
Financial assets measured at fair value through profit or loss 275,505 122,728
Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.

10. RESERVES
Revaluation
reserve
£   
At 1 January 2021
and 31 December 2021 558,744

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

The Report of the Auditors was unqualified.

Kunal Vyas FCCA, B.Com (Hons) (Senior Statutory Auditor)
for and on behalf of Ashford Associates (UK) Ltd

Stanmore Links Limited (Registered number: 00210169)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

12. COMMITMENTS UNDER OPERATING LEASES

At 31 December 2020 the Company had future minimum lease payments due under non cancellable operating leases for each of the following periods:

20212020
Not later than 1 year 60,00060,000
Later than 1 year and not later than 5 years240,000240,000
Later than 5 years 1,335,0001,395,000

1,635,0001,695,000



Rent is payable to the London Borough of Harrow and is calculated as 20% of the turnover for the prior accounting period. The minimum annual rent is £60,000 so the minimum commitment for the remainder of the lease due in more than 1 year has been disclosed as such.

13. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.