Streete Court Leisure Limited 03454845 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of investment in property and management of a golf course. Digita Accounts Production Advanced 6.30.9574.0 true true 03454845 2023-05-01 2024-04-30 03454845 2024-04-30 03454845 core:RetainedEarningsAccumulatedLosses 2024-04-30 03454845 core:ShareCapital 2024-04-30 03454845 core:CurrentFinancialInstruments 2024-04-30 03454845 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 03454845 core:FurnitureFittingsToolsEquipment 2024-04-30 03454845 core:LandBuildings 2024-04-30 03454845 core:OtherPropertyPlantEquipment 2024-04-30 03454845 bus:SmallEntities 2023-05-01 2024-04-30 03454845 bus:Audited 2023-05-01 2024-04-30 03454845 bus:FilletedAccounts 2023-05-01 2024-04-30 03454845 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03454845 bus:RegisteredOffice 2023-05-01 2024-04-30 03454845 bus:Director1 2023-05-01 2024-04-30 03454845 bus:Director2 2023-05-01 2024-04-30 03454845 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03454845 core:Buildings 2023-05-01 2024-04-30 03454845 core:FurnitureFittings 2023-05-01 2024-04-30 03454845 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 03454845 core:LandBuildings 2023-05-01 2024-04-30 03454845 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 03454845 core:PlantMachinery 2023-05-01 2024-04-30 03454845 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-05-01 2024-04-30 03454845 countries:EnglandWales 2023-05-01 2024-04-30 03454845 2023-04-30 03454845 core:FurnitureFittingsToolsEquipment 2023-04-30 03454845 core:LandBuildings 2023-04-30 03454845 core:OtherPropertyPlantEquipment 2023-04-30 03454845 2022-05-01 2023-04-30 03454845 2023-04-30 03454845 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2023-04-30 03454845 core:ShareCapital core:PreviouslyStatedAmount 2023-04-30 03454845 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-04-30 03454845 core:CurrentFinancialInstruments core:PreviouslyStatedAmount 2023-04-30 03454845 core:FurnitureFittingsToolsEquipment 2023-04-30 03454845 core:LandBuildings 2023-04-30 03454845 core:OtherPropertyPlantEquipment 2023-04-30 03454845 core:PreviouslyStatedAmount 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 03454845

Streete Court Leisure Limited

Financial Statements

for the Year Ended 30 April 2024

Brebners
Chartered Accountants & Statutory Auditor
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Streete Court Leisure Limited

Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

4,414,168

4,414,336

Investment property

7

1,195,000

1,195,000

 

5,609,168

5,609,336

Current assets

 

Stocks

8

769

769

Debtors

9

525,219

513,632

Cash at bank and in hand

 

168,986

45,670

 

694,974

560,071

Creditors: Amounts falling due within one year

10

(5,377,675)

(5,404,203)

Net current liabilities

 

(4,682,701)

(4,844,132)

Total assets less current liabilities

 

926,467

765,204

Provisions for liabilities

(160)

(124)

Net assets

 

926,307

765,080

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

926,306

765,079

Total equity

 

926,307

765,080

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 12 January 2025 and signed on its behalf by:
 

.........................................
Mr S Hodsdon
Director

.........................................
Mr R O Noades
Director

 
     

Company registration number: 03454845

 

Streete Court Leisure Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Streete Court
Rooks Nest Park
Godstone
Surrey
RH9 8BY

The principal activity of the company is that of the management of a golf course and property investment.

2

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 12 January 2025 was Martin Widdowson, who signed for and on behalf of Brebners.

3

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a profit for the year ended 30 April 2024 and had net assets at that date of £926,307.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities, together with rental income receivable in respect of the investment property. Turnover is shown net of sales/value added tax, rebates and discounts.

Membership fees are recognised as income evenly over the period of membership.Turnover from green fees and other golfing and ancillary income is recognised on the date of the service or supply.

Rental income from investment properties is recognised evenly over the period of the lease or license.

 

Streete Court Leisure Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Furniture, fixtures and fittings

25% straight line

Freehold buildings

2% straight line

Freehold buildings are depreciated over their economic useful life based on original cost less estimated residual value. The estimated residual value is such that no material annual depreciation charge arises.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Streete Court Leisure Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4

Staff numbers

The average number of persons employed by the company during the year was 6 (2023 - 7).

5

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

909

973

 

Streete Court Leisure Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

6

Tangible assets

Freehold land and buildings
£

Furniture, fixtures and fittings
£

Plant and equipment
£

Total
£

Cost or valuation

At 1 May 2023

4,412,099

52,560

46,510

4,511,169

Additions

-

-

741

741

At 30 April 2024

4,412,099

52,560

47,251

4,511,910

Depreciation

At 1 May 2023

-

50,675

46,158

96,833

Charge for the year

-

729

180

909

At 30 April 2024

-

51,404

46,338

97,742

Carrying amount

At 30 April 2024

4,412,099

1,156

913

4,414,168

At 30 April 2023

4,412,099

1,885

352

4,414,336

7

Investment properties

2024
£

At 1 May 2023

1,195,000

At 30 April 2024

1,195,000

The investment properties are included at fair value at 30 April 2024 as estimated by the directors, one of whom is a qualified chartered surveyor, at an amount of £1,195,000.

8

Stocks

2024
£

2023
£

Stock

769

769

 

Streete Court Leisure Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

9

Debtors

2024
£

2023
£

Trade debtors

3,181

3,517

Amounts owed by group undertakings

494,325

482,050

Other debtors

27,713

28,065

525,219

513,632

10

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

41,639

42,155

Amounts owed to group undertakings

5,200,032

5,330,938

Taxation and social security

8,159

5,468

Accruals and deferred income

127,210

11,858

Other creditors

635

13,784

5,377,675

5,404,203

11

contingencies and guarantees

The company has guaranteed the group's bank loan and overdraft facilities. The amount outstanding at 30 April 2024 amounted to £5,943,721 The guarantee is secured by a fixed and floating charge over the assets and undertakings of the company. No liability is expected to arise from this guarantee.

12

Profit and Loss account

The profit and loss account includes an amount of £253,138 (2023: £253,138) which is not distributable.

13

Related party disclosures

Exemption has been taken under FRS 102 Paragraph 1AC.35, not to disclose transactions or amounts falling due with companies that are wholly owned within the group.

14

Relationship between entity and parents

The parent of the smallest group preparing group accounts including the results of the company is Altonwood Holdings Limited.

The registered address of Altonwood Holdings Limited is Streete Court, Rooks Nest Park, Godstone, Surrey, RH9 8BY.