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Company No: 02113887 (England and Wales)

PUTT IN THE PARK LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

PUTT IN THE PARK LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

PUTT IN THE PARK LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2025
PUTT IN THE PARK LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025
Directors J G B Fish
M J Noy
D R Beamish
Registered office Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
United Kingdom
Company number 02113887 (England and Wales)
Accountant Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
West Sussex
RH12 2RG
PUTT IN THE PARK LIMITED

BALANCE SHEET

As at 31 March 2025
PUTT IN THE PARK LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 1,040,835 1,260,183
Investments 4 77,430 77,430
1,118,265 1,337,613
Current assets
Stocks 39,612 37,366
Debtors 5 228,916 195,609
Cash at bank and in hand 251,600 146,856
520,128 379,831
Creditors: amounts falling due within one year 6 ( 771,672) ( 700,457)
Net current liabilities (251,544) (320,626)
Total assets less current liabilities 866,721 1,016,987
Creditors: amounts falling due after more than one year 7 ( 105,528) ( 158,466)
Net assets 761,193 858,521
Capital and reserves
Called-up share capital 3 3
Profit and loss account 761,190 858,518
Total shareholders' funds 761,193 858,521

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Putt in the Park Limited (registered number: 02113887) were approved and authorised for issue by the Board of Directors on 16 July 2025. They were signed on its behalf by:

D R Beamish
Director
PUTT IN THE PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
PUTT IN THE PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Putt in the Park Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Springfield House, Springfield Road, Horsham, West Sussex, RH12 2RG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings depreciated over the life of the lease
Leasehold improvements depreciated over the life of the lease
Vehicles 5 years straight line
Fixtures and fittings 3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 84 79

3. Tangible assets

Land and buildings Leasehold improve-
ments
Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 April 2024 126,631 2,190,435 17,550 311,221 2,645,837
Additions 0 0 0 23,971 23,971
Disposals 0 ( 79,341) 0 0 ( 79,341)
At 31 March 2025 126,631 2,111,094 17,550 335,192 2,590,467
Accumulated depreciation
At 01 April 2024 86,919 1,052,617 11,418 234,700 1,385,654
Charge for the financial year 10,765 183,058 2,712 33,522 230,057
Disposals 0 ( 66,079) 0 0 ( 66,079)
At 31 March 2025 97,684 1,169,596 14,130 268,222 1,549,632
Net book value
At 31 March 2025 28,947 941,498 3,420 66,970 1,040,835
At 31 March 2024 39,712 1,137,818 6,132 76,521 1,260,183

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 April 2024 77,430 77,430
At 31 March 2025 77,430 77,430
Carrying value at 31 March 2025 77,430 77,430
Carrying value at 31 March 2024 77,430 77,430

5. Debtors

2025 2024
£ £
Trade debtors 546 5,218
Amounts owed by related parties 34,691 472
Prepayments 27,166 28,024
Deferred tax asset 99,227 65,101
Other debtors 67,286 96,794
228,916 195,609

6. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 83,704 115,364
Accruals 464,500 390,270
Corporation tax 117,083 47,374
Other taxation and social security 91,026 80,378
Other creditors 15,359 67,071
771,672 700,457

7. Creditors: amounts falling due after more than one year

2025 2024
£ £
Amounts owed to directors 979 979
Accruals 104,549 101,767
Other creditors 0 55,720
105,528 158,466

8. Deferred tax

2025 2024
£ £
At the beginning of financial year 65,101 34,845
Credited to the Statement of Income and Retained Earnings 34,126 30,256
At the end of financial year 99,227 65,101

The deferred taxation balance is made up as follows:

2025 2024
£ £
Accelerated capital allowances 98,917 50,692
Tax losses carry forward 0 14,057
Other timing differences 310 352
99,227 65,101

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2025 2024
£ £
within one year 47,000 47,000
between one and five years 115,250 151,750
after five years 0 7,500
162,250 206,250

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2025 2024
£ £
Unpaid contributions due to the fund (inc. in other creditors) 2,788 3,280
Other pensions commitments not shown in the Balance Sheet 15,644 44,905
18,432 48,185

The pension cost charge represents contributions payable by the Company to the fund and amounted to £15,644 (2024 - £44,905).

10. Related party transactions

Transactions with the entity's directors

2025 2024
£ £
Overdrawn Loan account 35,839 35,839

During the year there was no repayment or advance made to D R Beamish, a director of the company. The loan is interest free and repayable on demand. No repayments of the advance have been made post year end.