Stoneham Golf Company,Limited(The)
is a private company, limited by shares, incorporated in England & Wales, registered number
00099096
. The registered office is Monks Wood Close, Bassett, Southampton, Hampshire, SO16 3TT.
The original cost of the company’s freehold land and buildings is shown in the balance sheet. The Directors’ policy is to depreciate fixed assets at rates calculated to write down each asset over its effective life to its residual value. It is therefore considered that no depreciation needs to be provided on the freehold property as, in the opinion of the Directors, its residual value exceeds its cost at which it is stated in the balance sheet.
No specific terms have been agreed for the repayment of the loan except that, for the purposes of presentation of these accounts, the Club has confirmed that, under any circumstances, not less than twelve months notice will be given requiring repayment. No interest is charged on the loan.