REGISTERED NUMBER: 07053932 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

STONEBRIDGE GOLF CENTRE LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N P Barlow, BSc (Hons) FRICS, FAAV

The 12th Earl of Aylesford

Lord H J D Finch-Knightley

B J Gray, BSc (Hons), MSc (Hons), MRICS

REGISTERED OFFICE:

Packington Hall

Meriden

Warwickshire

CV7 7HF

REGISTERED NUMBER:

07053932 (England and Wales)

SENIOR STATUTORY AUDITOR:

Gregg Olner MPhil BA(Hons) FCA

AUDITORS:

HB&O Ltd

Chartered Accountants and Statutory Auditor

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

BANKERS:

Lloyds TSB plc

149 New Street

Birmingham

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

973,162

162,308

973,162

162,308

CURRENT ASSETS

Stocks

6,873

5,790

Debtors

31,465

31,774

Cash at bank and in hand

226,162

441,177

264,500

478,741

CREDITORS

Amounts falling due within one year

1,088,038

954,109

NET CURRENT LIABILITIES

(823,538

)

(475,368

)

TOTAL ASSETS LESS CURRENT LIABILITIES

149,624

(313,060

)

CREDITORS

Amounts falling due after more than one year

(205,575

)

(10,462

)

PROVISIONS FOR LIABILITIES

(81,753

)

(4,333

)

NET LIABILITIES

(137,704

)

(327,855

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(137,706

)

(327,857

)

SHAREHOLDERS' FUNDS

(137,704

)

(327,855

)

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2025 and were signed on its behalf by:

B J Gray, BSc (Hons), MSc (Hons), MRICS - Director

1.	STATUTORY INFORMATION

Stonebridge Golf Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

At the balance sheet date the company had net current liabilities of £823,538 (2024 - £475,368), and total net liabilities of £137,704 (2024 - £327,855). The directors along, with the parent company, have expressed their willingness to support the company as necessary and along with the forecasted future profitable trade the business is considered a going concern. The accounts and financial statements have therefore been prepared on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Goodwill

Acquired goodwill is written off in equal annual installments over its estimated useful economic life of 5 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures, fittings and equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Loans and borrowings are initially recognised at the transaction price including truncation costs. Subsequently, financial instruments are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2024 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

4

AMORTISATION

At 1 April 2024

and 31 March 2025

4

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

645,770

Additions

900,486

At 31 March 2025

1,546,256

DEPRECIATION

At 1 April 2024

483,462

Charge for year

89,632

At 31 March 2025

573,094

NET BOOK VALUE

At 31 March 2025

973,162

At 31 March 2024

162,308

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2024

140,180

Additions

298,645

At 31 March 2025

438,825

DEPRECIATION

At 1 April 2024

117,002

Charge for year

33,988

At 31 March 2025

150,990

NET BOOK VALUE

At 31 March 2025

287,835

At 31 March 2024

23,178

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

68,410

14,452

Between one and five years

205,575

10,462

273,985

24,914

Non-cancellable

operating leases

2025

2024

£

£

Within one year

25,876

25,876

Between one and five years

44,147

70,023

70,023

95,899

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

273,985

24,914

The hire purchase creditors are secured on the assets concerned.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gregg Olner MPhil BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of HB&O Ltd

9.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of certain employees and or directors. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £10,356 (2024 - £10,890). At the year end, there were no amounts due to or from the pension fund.

10.	ULTIMATE PARENT COMPANY

The company's ultimate parent undertaking at the balance sheet date was Packington Estate Enterprises Limited.