Company No: 00823189 (England and Wales)

Contents

• Company Information
• Directors' Report
• Accountants' Report
• Profit and Loss Account
• Balance Sheet
• Notes to the Financial Statements

Directors	I N Burrow
	A J Faunch (Chairman)
	R Leeves (Resigned 24 January 2025)
	P Robertson
	S Strudley
	S M Webb

Secretary

S Strudley

Registered office	103 Chestfield Road
	Chestfield
	Whitstable
	Kent
	CT5 3LU
	United Kingdom

Company number

00823189 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor, Maritime Place
	Quayside
	Chatham Maritime
	Chatham
	Kent
	ME4 4QZ

Bankers	National Westminster Bank plc
	11 The Parade
	Canterbury
	Kent
	CT1 2SQ

Solicitors	Messrs Furley Page
	37 St Margaret's Street
	Canterbury
	Kent
	CT1 2TX

The directors present their annual report and the unaudited financial statements of the Company for the financial year ended 31 March 2025.

Directors

The directors, who served during the financial year and to the date of this report except as noted, were as follows:

I N Burrow
A J Faunch (Chairman)
R Leeves	(Resigned 24 January 2025)
P Robertson
S Strudley
S M Webb

Small companies exemption

This Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption provided by section 415A of the Companies Act 2006.

Approved by the Board of Directors and signed on its behalf by:

S Strudley Director

08 September 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chestfield Manor Golf Club Limited for the financial year ended 31 March 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes 1 to 13 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 www.icaew.com/regulation.

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

We have not been instructed to carry out an audit or a review of the financial statements of Chestfield Manor Golf Club 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 financial statements.

This report is made solely to the Board of Directors of Chestfield Manor Golf Club 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 financial statements of Chestfield Manor Golf Club Limited and state those matters that we have agreed to state to the Board of Directors of Chestfield Manor Golf Club 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 Chestfield Manor Golf Club Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

2nd Floor, Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ

08 September 2025

	Note	2025		2024
		£		£
Turnover		3,672		3,672
Administrative expenses		( 4,444)		( 5,077)
Other operating income		6,802		13,849
Operating profit		6,030		12,444
Income from other fixed asset investments	3	2,985		2,850
Profit before interest and taxation		9,015		15,294
Interest receivable and similar income	3	322		0
Profit before taxation		9,337		15,294
Tax on profit		( 1,700)		( 10,189)
Profit for the financial year		7,637		5,105

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	600,000		600,000
Investments	5	137,479		130,677
		737,479		730,677
Current assets
Cash at bank and in hand		25,107		22,622
		25,107		22,622
Creditors: amounts falling due within one year	6	( 1,380)		( 1,430)
Net current assets		23,727		21,192
Total assets less current liabilities		761,206		751,869
Creditors: amounts falling due after more than one year	7	( 33,189)		( 31,489)
Net assets		728,017		720,380
Capital and reserves
Called-up share capital	9	72,150		72,150
Capital redemption reserve	10	5,025		5,025
Other reserves	11	446,761		446,761
Profit and loss account	12	204,081		196,444
Total shareholders' funds		728,017		720,380

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 members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A – small entities.

The financial statements of Chestfield Manor Golf Club Limited (registered number: 00823189) were approved and authorised for issue by the Board of Directors on 08 September 2025. They were signed on its behalf by:

A J Faunch (Chairman) Director

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

Chestfield Manor Golf Club 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 103 Chestfield Road, Chestfield, Whitstable, Kent, CT5 3LU, 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 comprises rent received.

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:

Investment property

not depreciated

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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 payments 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. Amounts 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		6

3. Interest receivable and similar charges

	2025		2024
	£		£
Income from other fixed asset investments	2,985		2,850
Interest receivable and similar income	322		0
	3,307		2,850

4. Tangible assets

	Investment property		Total
	£		£
Cost
At 01 April 2024	600,000		600,000
At 31 March 2025	600,000		600,000
Accumulated depreciation
At 01 April 2024	0		0
At 31 March 2025	0		0
Net book value
At 31 March 2025	600,000		600,000
At 31 March 2024	600,000		600,000

The land and buildings were revalued in 2021 by a national firm of Chartered Surveyors on an open market basis for existing use purposes including the Club as sitting tenants. The valuation on this basis is stated as £600,000.

The directors would like to draw attention to the fact that the vacant possession valuation arrived at by the same Chartered Surveyors has been listed as £1.275m.

5. Fixed asset investments

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	130,677		130,677
Movement in fair value	6,802		6,802
At 31 March 2025	137,479		137,479
Carrying value at 31 March 2025	137,479		137,479
Carrying value at 31 March 2024	130,677		130,677

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Other creditors	1,380		1,430

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

	2025		2024
	£		£
Deferred tax liability	33,189		31,489

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 31,489)		( 21,300)
Charged to the Profit and Loss Account	( 1,700)		( 10,189)
At the end of financial year	( 33,189)		( 31,489)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
14,430 Ordinary shares of £ 5.00 each	72,150		72,150

10. Capital redemption reserve

This reserve relates to a cancellation of shares that is non-distributable.

11. Other reserves

This is a non-distributable reserves and comprises the revaluation of investment property less a provision for deferred tax in the event of disposal.

12. Profit and loss account

This reserve comprises all current and prior period profits and losses after deducting any distributions made to the shareholders.

13. Ultimate controlling party

82.2% (2024 – 82.2%) of the company’s share capital is held by the trustees of Chestfield Golf Club. The Articles of Association state that only paid up full playing members of the Chestfield Golf Club are able to hold shares in the company.