Company registration number 09466176 (England and Wales)
HOUNSLOW HEATH GOLF CENTRE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
HOUNSLOW HEATH GOLF CENTRE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
HOUNSLOW HEATH GOLF CENTRE LTD
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,349,143
6,638,126
Current assets
Stocks
12,794
11,778
Debtors
4
243,666
438,487
Cash at bank and in hand
169,538
56,708
425,998
506,973
Creditors: amounts falling due within one year
5
(7,008,589)
(5,013,970)
Net current liabilities
(6,582,591)
(4,506,997)
Total assets less current liabilities
(233,448)
2,131,129
Creditors: amounts falling due after more than one year
6
-
0
(2,466,752)
Net liabilities
(233,448)
(335,623)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(233,450)
(335,625)
Total equity
(233,448)
(335,623)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

HOUNSLOW HEATH GOLF CENTRE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2025
31 May 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 October 2025 and are signed on its behalf by:
Mrs S A Haygarth
Mr R K Haygarth
Director
Director
Company Registration No. 09466176
HOUNSLOW HEATH GOLF CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
1
Accounting policies
Company information

Hounslow Heath Golf Centre Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Chichester Golf Club, Hunston Village, Chichester, West Sussex, United Kingdom, PO20 1AX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements relate to Hounslow Heath Golf Centre Ltd as an individual entity.

1.2
Going concern

At the year end, the company had net liabilities of £233,448 (2024: £335,623) and net current liabilities of £6,582,591 (2024: £4,506,997).

The company incurred costs relating to the development of the golf course, which opened 2 years ago and is trading well. Current liabilities include loans from the directors of £1,000,000 and loans totalling £4,556,297 from companies under common control.

It is the directors intention and expectation that they and the relevant companies will continue to support the company financially while the company becomes cash generative to repay its debts. Post year end, third party loans were refinanced and the directors believe the company is on target to repay its external debt as it falls due under the new financing agreement.

The directors therefore consider that the going concern basis is appropriate in the preparation of the company's financial statements.

1.3
Turnover

Revenue is recognised when goods are supplied from the golf shop and clubhouse such that the risks and rewards of ownership have transferred to them.

Revenue is also recognised when the use of golf facilities is provided together with the provision of membership subscriptions, excluding value added tax.

1.4
Tangible fixed assets

Assets under course of construction represent planning fees and associated costs. No depreciation has been charged during the period as the asset is not in use.

HOUNSLOW HEATH GOLF CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
2% straight line
Plant and equipment
10% - 33.33% straight line
Fixtures and fittings
10% - 25% straight line
Office equipment
20% - 33.33% straight line
Solar panels
5% straight line
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

1.7
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 current liabilities.

HOUNSLOW HEATH GOLF CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 5 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HOUNSLOW HEATH GOLF CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
45
40
HOUNSLOW HEATH GOLF CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
3
Tangible fixed assets
Leasehold land and buildings
Assets under construction
Plant and equipment
Fixtures and fittings
Office equipment
Solar panels
Total
£
£
£
£
£
£
£
Cost
At 1 June 2024
4,886,323
20,713
163,567
2,048,455
40,108
87,800
7,246,966
Additions
-
0
-
0
-
0
7,520
-
0
-
0
7,520
At 31 May 2025
4,886,323
20,713
163,567
2,055,975
40,108
87,800
7,254,486
Depreciation and impairment
At 1 June 2024
178,795
-
0
47,087
363,570
11,340
8,048
608,840
Depreciation charged in the year
98,016
-
0
26,938
158,191
8,968
4,390
296,503
At 31 May 2025
276,811
-
0
74,025
521,761
20,308
12,438
905,343
Carrying amount
At 31 May 2025
4,609,512
20,713
89,542
1,534,214
19,800
75,362
6,349,143
At 31 May 2024
4,707,528
20,713
116,480
1,684,885
28,768
79,752
6,638,126
HOUNSLOW HEATH GOLF CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 8 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
243,666
438,487
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
1,096,025
111,713
Trade creditors
76,739
75,228
Taxation and social security
82,809
74,188
Other creditors
5,753,016
4,752,841
7,008,589
5,013,970
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
1,466,752
Other creditors
-
0
1,000,000
-
0
2,466,752
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
2,063,945
2,081,445

The company is committed to pay ground rent at £17,500 per annum in relation to the land it leases. The lease expires in 2143 however has break clauses every 15 years.

8
Secured debts

The following secured debt is included within creditors:

Bank loans and overdrafts - £1,096,025 (2024: £1,578,465)

HSBC UK Bank Plc hold the following security over the company's borrowings:

- Fixed and floating charges over the company's assets on the bank's standard form dated 9 November 2021, 17 August 2022 and 22 December 2022.

HOUNSLOW HEATH GOLF CENTRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 9 -
9
Related party transactions

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Other related parties
4,556,297
4,553,056

The balances due to related parties are due to companies under common control, all of which are deemed repayable on demand with no interest arising.

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