PTP Accounts Production v23.1.0.753 00210169 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure002101692023-03-31002101692024-03-31002101692023-04-012024-03-31002101692021-12-31002101692022-01-012023-03-31002101692023-03-3100210169ns15:EnglandWales2023-04-012024-03-3100210169ns14:PoundSterling2023-04-012024-03-3100210169ns10:Director12023-04-012024-03-3100210169ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3100210169ns10:SmallEntities2023-04-012024-03-3100210169ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3100210169ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3100210169ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3100210169ns10:FullAccounts2023-04-012024-03-3100210169ns10:Director22023-04-012024-03-3100210169ns10:Director32023-04-012024-03-3100210169ns10:Director42023-04-012024-03-3100210169ns10:Director52023-04-012024-03-3100210169ns10:Director62023-04-012024-03-3100210169ns10:Director72023-04-012024-03-3100210169ns10:Director82023-04-012024-03-3100210169ns10:CompanySecretary12023-04-012024-03-3100210169ns10:RegisteredOffice2023-04-012024-03-3100210169ns5:CurrentFinancialInstruments2024-03-3100210169ns5:CurrentFinancialInstruments2023-03-3100210169ns5:Non-currentFinancialInstruments2024-03-3100210169ns5:Non-currentFinancialInstruments2023-03-3100210169ns5:ShareCapital2024-03-3100210169ns5:ShareCapital2023-03-3100210169ns5:RevaluationReserve2024-03-3100210169ns5:RevaluationReserve2023-03-3100210169ns5:RetainedEarningsAccumulatedLosses2024-03-3100210169ns5:RetainedEarningsAccumulatedLosses2023-03-3100210169ns5:LandBuildings2023-03-3100210169ns5:PlantMachinery2023-03-3100210169ns5:LandBuildings2023-04-012024-03-3100210169ns5:PlantMachinery2023-04-012024-03-3100210169ns5:LandBuildings2024-03-3100210169ns5:PlantMachinery2024-03-3100210169ns5:LandBuildings2023-03-3100210169ns5:PlantMachinery2023-03-3100210169ns5:CostValuation2023-03-3100210169ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3100210169ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3100210169ns5:RevaluationReserve2023-03-31
REGISTERED NUMBER: 00210169 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Stanmore Links Limited

Stanmore Links Limited (Registered number: 00210169)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stanmore Links Limited

Company Information
for the Year Ended 31 March 2024







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)





ACCOUNTANTS: Euro Ashfords (UK) Ltd
2nd Floor,
39 Ludgate hill
London
EC4M 7JN

Stanmore Links Limited (Registered number: 00210169)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,233,591 1,290,313
Investments 5 1 1
1,233,592 1,290,314

CURRENT ASSETS
Stocks 19,062 14,179
Debtors 6 144,372 72,252
Cash at bank and in hand 312,881 347,814
476,315 434,245
CREDITORS
Amounts falling due within one year 7 653,016 596,132
NET CURRENT LIABILITIES (176,701 ) (161,887 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,056,891

1,128,427

CREDITORS
Amounts falling due after more than one
year

8

275,312

300,321
NET ASSETS 781,579 828,106

CAPITAL AND RESERVES
Called up share capital 163 166
Revaluation reserve 10 558,744 558,744
Retained earnings 222,672 269,196
781,579 828,106

Stanmore Links Limited (Registered number: 00210169)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 9 August 2024 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 March 2024

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. Income and expenditure of the company are apportioned as follows:

Stamore links limited - 81%

Stanmore golf & banqueting limited - 19%

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 March 2024

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 the board of the directors. The board of the directors are qualified to do so.

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 March 2024

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 March 2024

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 £176,701 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 (2023 - 12 ) .

Stanmore Links Limited (Registered number: 00210169)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 864,174 1,345,368 2,209,542
Additions 3,616 49,485 53,101
Disposals - (11,000 ) (11,000 )
At 31 March 2024 867,790 1,383,853 2,251,643
DEPRECIATION
At 1 April 2023 73,996 845,233 919,229
Charge for year 27,816 71,007 98,823
At 31 March 2024 101,812 916,240 1,018,052
NET BOOK VALUE
At 31 March 2024 765,978 467,613 1,233,591
At 31 March 2023 790,178 500,135 1,290,313

Additions to land and buidings are an improvement and enhancement to kitchen premises.

Fair values for the freehold and lease hold properties are determined by the market based evidence undertaken by the board of the directors. The board of the directors are qualified to do so.


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 6,140 -
Other debtors 138,232 72,252
144,372 72,252

Stanmore Links Limited (Registered number: 00210169)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 82,143 90,644
Finance leases 60,225 58,340
Trade creditors 47,313 29,842
Amounts owed to participating interests 1 1
Taxation and social security 11,227 13,873
Other creditors 452,107 403,432
653,016 596,132

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 188,732 196,688
Finance leases 86,580 103,633
275,312 300,321

9. FINANCIAL INSTRUMENTS



Financial assets

2023 2021
Financial assets measured at fair value through profit or loss 347,814 275,505

Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 558,744

11. COMMITMENTS UNDER OPERATING LEASES

At 31 March 2023 the Company had future minimum lease payments due under non cancellable operating leases for each of the following periods:

20232023
Not later than 1 year 60,00060,000
Later than 1 year and not later than 5 years240,000240,000
Later than 5 years 1,260,0001,260,000

1,500,0001,560,000



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.

Stanmore Links Limited (Registered number: 00210169)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.