Company registration number 10172907 (England and Wales)
STOVER GOLF CLUB LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
STOVER GOLF CLUB LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
STOVER GOLF CLUB LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,262,187
4,278,655
Investments
5
5,085
5,085
4,267,272
4,283,740
Current assets
Stocks
28,470
27,317
Debtors
6
73,271
62,293
Cash at bank and in hand
246,683
136,412
348,424
226,022
Creditors: amounts falling due within one year
7
(969,739)
(799,847)
Net current liabilities
(621,315)
(573,825)
Total assets less current liabilities
3,645,957
3,709,915
Creditors: amounts falling due after more than one year
8
(115,572)
(212,600)
Provisions for liabilities
(75,175)
(75,175)
Deferred income from DCC
(2,836,375)
(2,837,323)
Net assets
618,835
584,817
Reserves
Income and expenditure account
618,835
584,817
Total members' funds
618,835
584,817

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

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

The financial statements were approved by the board of directors and authorised for issue on 26 February 2026 and are signed on its behalf by:
Mr SC Henson
Director
Company registration number 10172907 (England and Wales)
STOVER GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -
1
Accounting policies
Company information

Stover Golf Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Club House, Stover, Newton Abbot, Devon, TQ12 6QQ.

1.1
Basis of preparation

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 company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Other income

The company recognises revenue as follows:

Subscriptions income - is recognised as income on a time apportioned basis based on the period of subscription.

Green fees and buggy income - is recognised on the day that the round is played.

Bar and catering income - is recognised at point of sales.

Solar panel income - is taken as a reduction in the light and heat cost as generated.

Competitions income - is recognised for any surplus once the competition has been held and all costs have been met.

Rental income is recognised on a time apportioned basis.

Government grant income - is recognised on revenue grants as costs are incurred and on capital grants as assets are depreciated.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Freehold land and course improvements
Land not depreciated and course 5% straight line once completed
Leasehold land and course improvements
Land not depreciated, buildings and course at 2%, 5% or 10% straight line
Plant and equipment
12.5% straight line or straight line over the period of the lease
Fixtures and fittings
10% or 20% straight line or 15% reducing balance
STOVER GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 3 -

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 surplus or deficit.

The company is undertaking a build of new golf holes which is funded by DCC as compensation for the compulsory purchase of part of the course. These are not depreciated until the holes are complete and in play.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in surplus or deficit.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

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.

There have been no impairments of fixed assets during the year.

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.

STOVER GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 4 -
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
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.10
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.

STOVER GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 5 -
1.11
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

1.12
Government grants

The company has received grants which it has accounted for under the accruals model as follows:

- Grants received to fund capital purchases are deferred and released as the assets funded are depreciated.

- Grants received to reimburse revenue expenditure are released as the costs are incurred.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2025
2024
Number
Number
Total
22
24
STOVER GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 6 -
4
Tangible fixed assets
Freehold land and course improvements
Leasehold land and course improvements
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
£
Cost
At 1 September 2024
3,342,173
704,080
381,325
283,927
4,711,505
Additions
11,160
84,159
14,018
32,302
141,639
Disposals
-
0
(1,655)
(15,890)
(71,970)
(89,515)
At 31 August 2025
3,353,333
786,584
379,453
244,259
4,763,629
Depreciation and impairment
At 1 September 2024
-
0
115,274
130,216
187,360
432,850
Depreciation charged in the year
58,671
21,314
45,442
30,403
155,830
Eliminated in respect of disposals
-
0
(1,655)
(15,890)
(69,693)
(87,238)
At 31 August 2025
58,671
134,933
159,768
148,070
501,442
Carrying amount
At 31 August 2025
3,294,662
651,651
219,685
96,189
4,262,187
At 31 August 2024
3,342,173
588,806
251,109
96,567
4,278,655
5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
5,085
5,085
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
65,753
35,433
Other debtors
7,518
26,860
73,271
62,293
STOVER GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 7 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
46,549
43,812
Obligations under finance leases
45,208
45,208
Trade creditors
53,937
75,939
Amounts owed to group undertakings
253,000
253,000
Corporation tax
6,939
2,488
Other taxation and social security
43,809
20,750
Other creditors
507,358
342,036
Accruals and deferred income
12,939
16,614
969,739
799,847

Hire purchase contracts are secured on the assets concerned.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
46,148
95,434
Other creditors
69,424
117,166
115,572
212,600

Hire purchase contracts are secured on the assets concerned.

9
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £5.

10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 August 2025 and of its surplus for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

STOVER GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
10
Audit report information
(Continued)
- 8 -
Senior Statutory Auditor:
Michael Young BSc FCA
Statutory Auditor:
Peplows Audit Limited
Date of audit report:
26 February 2026
11
Financial commitments, guarantees and contingent liabilities

The Club allows members to put their subscriptions onto finance with Premium Credit. the Club is liable to repay Premium Credit is the member defaults on the agreement. At 31 August 2025 there is £11,674 (2024: Nil) of outstanding finance that could be potential recalled. Historically the club has suffered a low level of repayments.

12
Operating lease commitments
As lessee

The financial commitments, not included in the balance sheet, relate to operating lease commitments. These commitments represent the total rentals payable on the hire of course machinery which are payable over the next 2 years.

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

2025
2024
£
£
Total commitments
69,403
20,822
13
Related party transactions

The company operates rent free from land owned by its subsidiary company, Newton Abbot (Stover) Golf Company Limited. The company's bank borrowings are secured on the land held in the subsidiary.

Following completion of the land transfer with DCC in the year ended 31 August 2022, the company owes its subsidiary company, Newton Abbot (Stover) Golf Company Limited, for the value of the land it sold to DCC in exchange for the land DCC provided to Stover Golf Club Limited. At 31 August 202 5 the loan was £253,000 (202 4 - £253,000). This loan is interest free and repayable on demand.

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