Horton Golf Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 9

Horton Golf Limited

Company Information

Directors

Mr W E Riddle Mr D Riddle Mr S Hudson

Registered office

Energy Site Control Centre Arena Way Wimborne Dorset BH21 3BW

Accountants

Edwards and Keeping Limited Chartered Accountants Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Horton Golf Limitedfor the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Horton Golf Limited for the year ended 31 December 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Horton Golf Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Horton Golf Limited and state those matters that we have agreed to state to the Board of Directors of Horton Golf Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Horton Golf Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Horton Golf Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Horton Golf Limited. You consider that Horton Golf Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Horton Golf Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Edwards and Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

19 June 2025

Horton Golf Limited

(Registration number: 05111198)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	5,083,404	5,079,803
Current assets
Stocks		48,326	64,022
Debtors	5	117,251	51,822
Cash at bank and in hand		280,388	616,763
		445,965	732,607
Creditors: Amounts falling due within one year	6	(2,127,979)	(2,119,847)
Net current liabilities		(1,682,014)	(1,387,240)
Total assets less current liabilities		3,401,390	3,692,563
Creditors: Amounts falling due after more than one year	6	(1,632,109)	(1,698,988)
Net assets		1,769,281	1,993,575
Capital and reserves
Called up share capital	7	3,405,425	3,405,425
Revaluation reserve		161,504	161,504
Retained earnings		(1,797,648)	(1,573,354)
Shareholders' funds		1,769,281	1,993,575

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 June 2025 and signed on its behalf by:
 

Mr W E Riddle

Director

Horton Golf Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Energy Site Control Centre
Arena Way
Wimborne
Dorset
BH21 3BW
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the year end the Balance Sheet shows a net current liability. The directors do not consider there is any risk that the company is not a going concern as many of the current liabilities existing at the year end are owed to companies controlled by W E Riddle (Director). W E Riddle has confirmed that Canford Renewable Energy Limited and W H White Limited will continue to support the company and not require repayment of the loans until the cashflows of Horton Golf Limited enable repayment or within 12 months of the date of signature of these accounts. W E Riddle is a director and shareholder of all these companies.

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. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items of taxation and accounting purposes.

Horton Golf Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

Tangible assets

In the year ended 31 December 2016 the company took advantage of the FRS102 transition exemption to use the brought forward valuation of £4 million in relation to the freehold property as deemed cost without adopting a policy of revaluation.

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 not provided on freehold land buildings as the freehold property is maintained in a continual state of repair and has a residual value not materially different from the amount the property is included in the accounts.

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

Asset class	Depreciation method and rate
Land and buildings	Not depreciated
Plant and machinery	20% p.a. straight line basis
Office equipment	20% p.a. straight line basis
Fixtures, fittings and furniture	20% p.a. straight line basis

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Horton Golf Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 42 (2023 - 39).

Horton Golf Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment £	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 January 2024	4,795,128	393,784	949,643	44,871	6,183,426
Additions	-	20,376	72,104	4,549	97,029
Disposals	-	-	(4,000)	-	(4,000)
At 31 December 2024	4,795,128	414,160	1,017,747	49,420	6,276,455
Depreciation
At 1 January 2024	-	353,742	715,188	34,693	1,103,623
Charge for the year	-	15,550	70,344	3,534	89,428
At 31 December 2024	-	369,292	785,532	38,227	1,193,051
Carrying amount
At 31 December 2024	4,795,128	44,868	232,215	11,193	5,083,404
At 31 December 2023	4,795,128	40,042	234,455	10,178	5,079,803

Included within the net book value of land and buildings above is £4,795,128 (2023 - £4,795,128) in respect of freehold land and buildings.
 

5

Debtors

Current	2024 £	2023 £
Trade debtors	17,757	11,046
Prepayments	57,208	23,923
Other debtors	42,286	16,853
	117,251	51,822

Horton Golf Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	36,879	45,362
Trade creditors		885,729	887,985
Taxation and social security		73,089	83,441
Accruals and deferred income		25,707	1,996
Other creditors		1,106,575	1,101,063
		2,127,979	2,119,847

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	1,632,109	1,698,988

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	3,405,425	3,405,425	3,405,425	3,405,425

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Hire purchase contracts	-	36,879
Other borrowings	1,632,109	1,662,109
	1,632,109	1,698,988

Current loans and borrowings

	2024 £	2023 £
Hire purchase contracts	36,879	45,362

Horton Golf Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

9	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	32,186	38,628

10

Control

The ultimate controlling party is Fitzwilliam Trustees No1 Limited and Fitzwilliam Trustees No2 Limited.