| Golftee LP4 Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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The accounts are presented in pounds sterling (£).
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The accounts are prepared on the historical cost basis except that investments in subsidiaries are stated at their fair value.
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Going concern |
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At the year end the company has net current liabilities of £8,572,166 (2024: £8,570,749) which includes amounts due to related undertakings of £8,575,679 (2024: £8,573,735). The company meets its day to day working capital requirements through its positive cash balances and funding provided by related parties. These related party relationships will continue for the foreseeable future and provide the necessary working capital to allow the company to continue to trade. This on-going financial support means that the directors are confident that the company has sufficient resources to meet its liabilities as they fall due for at least 12 months from the date of approval of these accounts. Therefore these accounts are prepared on a going concern basis. |
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Post Balance Sheet Events |
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At the year end the Company had two subsidiaries, Wellbark Property Limited and Coney (York) Limited. |
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On November 20th 2025 both entities were placed into voluntary liquidation. The value of the investment |
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in each entity had previously been written down in full. There will be no liability owing on the Company as a result |
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of the liquidation process. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs. |
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| 2 |
Employees |
2025 |
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2024 |
| Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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The company had no employees during the current or preceeding financial years. No fees are paid in respect of directors' services. |
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| 3 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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8,575,679 |
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8,573,735 |
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| 4 |
Related party transactions |
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The company undertook the following transactions with entities whose directors (or general partner's directors) include directors of this company: |
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Transactions in the year |
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Amounts due from / (to) |
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2025 |
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2024 |
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2025 |
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2024 |
| £ |
£ |
£ |
£ |
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API Limited |
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Payments made on account |
- |
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- |
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(2,340) |
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(2,340) |
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The MNFI Limited Partnership |
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Payments made on account |
- |
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- |
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####### |
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####### |
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Wellbark Property Limited |
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Payments made on account |
(1,944) |
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- |
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(4,396) |
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(2,452) |
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All related party balances are unsecured and will be settled by cash generated from operations. |
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| 5 |
Controlling party |
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The company is a wholly owned subsidiary of Jolan Limited, a company incorporated in Jersey with registered office at First Floor, La Chasse Chambers, Ten La Chasse, St Helier, Jersey, JE2 4UE.
The directors regard Jolan Limited as the immediate controlling party. In the directors' opinion there is no ultimate controlling party as there is no single party which exercises control.
The results of the company are not included in any group financial statements. |
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| 6 |
Other information |
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Golftee LP4 Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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First Floor, Finchale House |
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Belmont Business Park |
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Durham |
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DH1 1TW |