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Registered number: 02457338










DEANWOOD PARK LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023



 
DEANWOOD PARK LIMITED
REGISTERED NUMBER: 02457338

BALANCE SHEET
AS AT 31 DECEMBER 2023

31 December 2023
30 December 2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,011,864
1,010,908

  
1,011,864
1,010,908

Current assets
  

Debtors: amounts falling due within one year
 5 
1,030,451
875,232

Cash at bank and in hand
 6 
53,140
5,022

  
1,083,591
880,254

Creditors: amounts falling due within one year
 7 
(1,258,391)
(1,252,458)

Net current liabilities
  
 
 
(174,800)
 
 
(372,204)

Total assets less current liabilities
  
837,064
638,704

  

Net assets
  
837,064
638,704


Capital and reserves
  

Called up share capital 
 8 
2
2

Profit and loss account
  
837,062
638,702

  
837,064
638,704


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 by: 




A G McKenzie
Director

Date: 15 August 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
DEANWOOD PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Deanwood Park Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales, company number 02457338. The address of Company’s principal place of business is Deanwood Park Golf Club, Newbury, Berkshire, RG20 8JP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company has made a profit during the year but has a position of net current liabilities at the year end.
 
The parent company Stockford Limited has agreed to provide support and has confirmed to the Company that it will make available sufficient financial resources as required to enable the Company to meet its short term liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements.
In conclusion the directors consider that the Company will have adequate cash and other liquid resources to meet its commitments, and therefore the financial statements are appropriately prepared on a going concern basis.

 
2.3

Revenue

The turnover shown in the Statement of Income and Retained Earnings represents the value of goods and services provided during the year, stated net of discounts and value added tax. Turnover can be split into two main areas:
Sale of food, beverages and leisure: Turnover in relation to the provision of food, drink and other goods is recognised at the point the sale of the items is made to the customer.
Rental recharge: Revenue comprises income recognised by the company in respect of rental income receivable during the period.

 
2.4

Government grants

Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 2

 
DEANWOOD PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is provided on the following basis:

Freehold property
-
0% straight line
Plant and machinery
-
20% straight line
Fixtures and fittings
-
20% straight line
Computer equipment
-
33% 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 the Statement of comprehensive income.
The condition and upkeep of the freehold property is carried out on a continuous basis by the company with any payments being charged to the profit and loss account as it arises. This depreciation policy reflects the expected benefits of such assets and provides consistency with the depreciation methods used by other entities within the same industry.

  
2.6

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the assets (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cashflows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.7

Debtors

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.

 
2.8

Cash and cash equivalents

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.

Page 3

 
DEANWOOD PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Creditors

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 16 (2022 - 15).


4.


Tangible fixed assets







Freehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 31 December 2022
1,000,000
61,023
12,338
6,027
1,079,388


Additions
-
6,513
-
-
6,513



At 31 December 2023

1,000,000
67,536
12,338
6,027
1,085,901



Depreciation


At 31 December 2022
-
56,969
8,859
2,652
68,480


Charge for the period
-
2,063
2,369
1,125
5,557



At 31 December 2023

-
59,032
11,228
3,777
74,037



Net book value



At 31 December 2023
1,000,000
8,504
1,110
2,250
1,011,864



At 30 December 2022
1,000,000
4,054
3,479
3,375
1,010,908

Freehold property includes freehold land of £837,041 which is not depreciated.

Page 4

 
DEANWOOD PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Debtors

31 December 2023
30 December 2022
£
£


Trade debtors
3,837
10,036

Amounts owed by group undertakings
959,258
822,535

Other debtors
66,467
41,799

Prepayments and accrued income
889
862

1,030,451
875,232


Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.


6.


Cash and cash equivalents

31 December 2023
30 December 2022
£
£

Cash at bank and in hand
53,140
5,022



7.


Creditors: Amounts falling due within one year

31 December 2023
30 December 2022
£
£

Trade creditors
7,018
13,878

Amounts owed to group undertakings
1,242,923
1,233,730

Accruals and deferred income
8,450
4,850

1,258,391
1,252,458


Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

Page 5

 
DEANWOOD PARK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

8.


Share capital

31 December 2023
30 December 2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,580 (2022: £1,751). 


10.


Related party transactions

The Company is exempt from disclosing related party transactions with other 100% owned members of the Group headed by Stockford Limited by virtue of FRS 102 section 33.1A.


11.


Controlling party

The Company considers Stockford Limited, a company incorporated in England and Wales, to be its ultimate parent company throughout the current and previous year. Stockford Limited is the parent of both the largest and smallest groups in which the results of the company are consolidated. Copies of the group financial statements for Stockford Limited are available from its registered office: Buckingham House, West Street, Newbury, Berkshire, RG14 1BE.


12.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 21 August 2024 by Jonathan Baillie BA (Hons) ACA FCCA (Senior Statutory Auditor) on behalf of James Cowper Kreston Audit.

Page 6