Company registration number 00195492 (England and Wales)
KNOLE PARK GOLF CLUB LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
KNOLE PARK GOLF CLUB LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9
KNOLE PARK GOLF CLUB LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
6
1,511,077
1,500,107
Investment properties
7
410,000
395,000
1,921,077
1,895,107
Current assets
Stocks
48,012
37,767
Debtors
8
86,437
93,151
Cash on deposit
9
501,799
353,000
Cash at bank and in hand
966,020
905,206
1,602,268
1,389,124
Creditors: amounts falling due within one year
10
(1,424,799)
(1,355,589)
Net current assets
177,469
33,535
Total assets less current liabilities
2,098,546
1,928,642
Creditors: amounts falling due after more than one year
11
-
0
(28,923)
Provisions for liabilities
12
(59,338)
(55,588)
Net assets
2,039,208
1,844,131
Reserves
Competition fund
49,625
26,431
Investment property fair value reserve
347,919
332,919
Income and expenditure account
1,641,664
1,484,781
Members' funds
2,039,208
1,844,131

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

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

The financial statements were approved by the board of directors and authorised for issue on 10 March 2026 and are signed on its behalf by:
M Desmond (Chair)
Director
Company Registration No. 00195492
KNOLE PARK GOLF CLUB LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Competition fund
Investment property fair value reserve
Income and expenditure
Total
£
£
£
£
Balance at 1 January 2024
72,403
332,919
1,251,890
1,657,212
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
-
186,919
186,919
Other movements
(45,972)
-
45,972
-
Balance at 31 December 2024
26,431
332,919
1,484,781
1,844,131
Year ended 31 December 2025:
Profit and total comprehensive income for the year
-
15,000
180,077
195,077
Movement in competition funds
23,194
-
(23,194)
-
Balance at 31 December 2025
49,625
347,919
1,641,664
2,039,208
KNOLE PARK GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Knole Park Golf Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Seal Hollow Road, Sevenoaks, Kent, TN15 0HJ.

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 on the going concern basis of preparation and under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

During the year ended 31 December 2025, the Club has had a full membership and has a waiting list that the Board considers is sufficient to maintain a full membership for the foreseeable future. true

Coupled with regular reviews of cash flow forecasts, the Board believes that it can generate sufficient income to cover its expenses and liabilities for a period of at least 12 months beyond the date of approval of these financial statements. Consequently the Board believes that the Club will continue as a going concern, and the financial statements have been prepared on a going concern basis.

1.3
Income and expenditure

Income is recognised to the extent that it is probable that the economic benefits will flow to the company and the income can be reliably measured. Income is measured as the fair value of the consideration received or receivable. Income is recognised for the different income streams as follows;

Golf membership subscription income is recognised in the income and expenditure account in the period to which it relates.

Other income streams are recognised as the activity arises.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Software
Straight line over 4 years
KNOLE PARK GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.5
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. Assets with a cost of less than £1,000 are written off in the year acquired.

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:

Long-term leasehold property
Straight line 20 to 50 years
Other leasehold property
Straight line 3 to 20 years
Plant and equipment
Straight line over 3 to 20 years

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.

1.6
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in income and expenditure.

1.7
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.

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.

1.8
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.

1.9
Financial instruments
The company only has financial instruments which are classified as basic financial instruments.
Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in income and expenditure.
Cash on deposit is cash that has been deposited for more than 180 days but at the balance sheet date has a maturity of less than one year.
Hire purchase liabilities are initially recorded at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method.
KNOLE PARK GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.10
Taxation

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.

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.

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
Leases

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 income and expenditure 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 income and expenditure 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.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

KNOLE PARK GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Investment property fair value

The fair value of the investment property is estimated at each year end by the Management Committee. At 31 December 2025, their estimate was based on a market valuation carried out by a local firm of estate agents with knowledge of the local property market.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year ended 31 December 2025 was 21 (2024 - 22). This is split between 17 permanent staff (2024 - 17) and 4 temporary staff (2024 - 5).

2025
2024
Number
Number
Total
21
22
4
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
17,812
16,148
Deferred tax
Origination and reversal of timing differences
3,750
-
0
Total tax charge
21,562
16,148
KNOLE PARK GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
5
Intangible fixed assets
Software
£
Cost
At 1 January 2025 and 31 December 2025
10,848
Amortisation and impairment
At 1 January 2025 and 31 December 2025
10,848
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
-
0
6
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2025
1,811,849
1,213,881
3,025,730
Additions
126,235
125,435
251,670
Disposals
-
0
(24,593)
(24,593)
At 31 December 2025
1,938,084
1,314,723
3,252,807
Depreciation and impairment
At 1 January 2025
802,441
723,182
1,525,623
Depreciation charged in the year
134,632
106,068
240,700
Eliminated in respect of disposals
-
0
(24,593)
(24,593)
At 31 December 2025
937,073
804,657
1,741,730
Carrying amount
At 31 December 2025
1,001,011
510,066
1,511,077
At 31 December 2024
1,009,408
490,699
1,500,107
7
Investment property
2025
£
Fair value
At 1 January 2025
395,000
Revaluations
15,000
At 31 December 2025
410,000
KNOLE PARK GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
7
Investment property
(Continued)
- 8 -

On a historical cost basis, the investment property would have been included at a cost of £62,081.

A local firm of estate agents provided a guide price in the region of £410,000 for the investment property as at January 2025, which has been used by the Directors as their estimate of the fair value of the property at 31 December 2025.

8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
48,168
70,020
Prepayments and accrued income
38,269
23,131
86,437
93,151
9
Cash on deposit
2025
2024
£
£
Cash deposits over 3 months
501,799
353,000
10
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases
28,923
32,228
Trade creditors
80,552
85,069
Corporation tax
17,509
15,846
Other taxation and social security
28,986
37,753
Other creditors
46,176
48,379
Accruals and deferred income
1,222,653
1,136,314
1,424,799
1,355,589

Obligations under finance leases are secured on the assets concerned.

11
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
-
0
28,923

Obligations under finance leases are secured on the assets concerned.

KNOLE PARK GOLF CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
12
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
59,338
55,588
13
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 £1.

14
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 December 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.

Senior Statutory Auditor:
James Mathieson FCA
Statutory Auditor:
WP Audit Services LLP
Date of audit report:
10 March 2026
15
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
£
£
405,913
465,707

In addition to the lease commitment noted above, the company is also contractually committed to pay an annual Turnover Rent, which is calculated as the lower of £100,000 and 15.56% of golf subscription and green fee income. At the balance sheet date, the future commitment in respect of the Turnover Rent cannot be quantified.

16
Related party transactions

During the year, seven members of the Management Committee received subscription discounts totalling £9,868 (202 4: four members, £9,532).

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