Forest Hills Golf & Leisure Limited

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

1	General information

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

The address of its registered office is:
Forest Hills Golf Club
Mile End Road
Coleford
Gloucestershire
GL16 7QD
England

These financial statements were authorised for issue by the Board on 4 September 2025.

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

The financial statements have been prepared on a going concern basis. This assumes that the company will have sufficient financial resources to continue trading. As at 31 December 2024 the company had an asset net deficit of £599,042 (2023: £467,650). Other creditors within the accounts include a loan from the ultimate parent undertaking, Mike Etheridge Construction Limited, of £1,096,244 (2023: £1,037,564) which, in the opinion of the directors, will not fall due for payment until the company is in a financial position to do so.
With this support the directors are of the opinion that the company will be able to continue trading and meet its obligations as they fall due.

Forest Hills Golf & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 4 September 2025 was Peter Roberts, who signed for and on behalf of Roberts & Co (Bristol) Limited.

.........................................

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 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

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive 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 balance sheet 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
Leasehold property improvements	10% straight line
Plant and machinery	20% straight line

Forest Hills Golf & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Fixtures and fittings	10% straight line
Motor vehicles	20% straight line
Office equipment	25% straight line

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.

Forest Hills Golf & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

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 36 (2023 - 36).

Forest Hills Golf & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

4	Tangible assets

	Leasehold improvements £	Fixtures and fittings £	Plant and machinery £	Office equipment £
Cost or valuation
At 1 January 2024	469,626	259,073	224,137	8,583
Additions	2,985	11,115	-	825
At 31 December 2024	472,611	270,188	224,137	9,408
Depreciation
At 1 January 2024	70,746	60,989	131,717	5,508
Charge for the year	47,262	26,465	30,775	1,017
At 31 December 2024	118,008	87,454	162,492	6,525
Carrying amount
At 31 December 2024	354,603	182,734	61,645	2,883
At 31 December 2023	398,880	198,084	92,420	3,075

	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	17,247	978,666
Additions	-	14,925
At 31 December 2024	17,247	993,591
Depreciation
At 1 January 2024	9,054	278,014
Charge for the year	3,449	108,968
At 31 December 2024	12,503	386,982
Carrying amount
At 31 December 2024	4,744	606,609
At 31 December 2023	8,193	700,652

Included within the net book value of land and buildings above is £354,603 (2023 - £398,880) in respect of short leasehold land and buildings.
 

Forest Hills Golf & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

5

Stocks

	2024 £	2023 £
Other inventories	47,133	68,713

6

Debtors

Current	2024 £	2023 £
Trade debtors	9,286	16,356
Prepayments	-	1,066
Other debtors	14,902	-
	24,188	17,422

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	-	1,375
Trade creditors		50,381	65,190
Amounts owed to group undertakings and undertakings in which the company has a participating interest	10	1,143,762	1,085,082
Taxation and social security		37,571	40,598
Accruals and deferred income		41,842	50,092
		1,273,556	1,242,337

Forest Hills Golf & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

9	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Hire purchase contracts	-	1,375

10	Related party transactions

Summary of transactions with parent

At the balance sheet date, the company owed its immediate parent company, Forest Hills (Holdings) Limited, a balance of £47,518 (2023: £47,518)

At the balance sheet date, the company owed its ultimate parent company, Mike Etheridge Construction Limited, a balance of £1,096,244 (2023: £1,037,564)

11	Parent and ultimate parent undertaking

The company's immediate parent is Forest Hills (Holdings) Limited (company number 05186586), incorporated in England & Wales.

 The ultimate parent is Mike Etheridge Construction Limited (company number 03734577), incorporated in England & Wales.

 The most senior parent entity producing publicly available financial statements is Mike Etheridge Construction Limited. These financial statements are available upon request from Companies House website https://www.gov.uk/government/organisations/companies-house