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Registered number: 03302599
Kingswear Park Club Limited
Unaudited Financial Statements
For The Year Ended 31 December 2025
Northover & Co
132a Bournemouth Road
Chandlers Ford
Eastleigh
SO53 3AL
Kingswear Park Club Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—5

Page 1
Kingswear Park Club Limited
Balance Sheet
As At 31 December 2025
Balance Sheet
Registered number: 03302599

| 2025 | 2024 as restated
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 47,741 |  | 54,849
|  |  | 47,741 |  | 54,849
CURRENT ASSETS
Stocks | 5 | 850 |  | 1,000 |
Debtors | 6 | 127,583 |  | 150,401 |
Cash at bank and in hand |  | 363,301 |  | 403,119 |
|  | 491,734 |  | 554,520 |
Creditors: Amounts Falling Due Within One Year | 7 | (286,851 ) |  | (301,057 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 204,883 |  | 253,463
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 252,624 |  | 308,312
NET ASSETS |  |  | 252,624 |  | 308,312
RESERVES
Sinking fund reserve | 8 |  | 49,838 |  | 49,838
Maintenance reserve |  |  | 160,414 |  | 256,938
Income and Expenditure Account |  |  | 42,372 |  | 1,536
MEMBERS' FUNDS |  |  | 252,624 |  | 308,312

Page 1
Page 2
Kingswear Park Club Limited
Balance Sheet (continued)
As At 31 December 2025
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board

Mr M A Wallis Director
19th March 2026

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Kingswear Park Club Limited
Notes to the Financial Statements
For The Year Ended 31 December 2025
Notes to the Financial Statements
1. General Information
Kingswear Park Club Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 03302599 . The registered office is Kingswear Park Redoubt Hill, Kingswear, Dartmouth, Devon, TQ6 0DA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery | 10% on reducing balance
Fixtures & Fittings | 10% on reducing balance
Computer Equipment | 20% on cost

2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.5. Change in Accounting Policy – Advanced Maintenance Fees
During the year, the Directors reviewed the accounting treatment of amounts received from members in respect of the advance maintenance fees. These amounts were previously recognised as a liability within other creditors, on the assumption that the Club had a future obligation to repay.
Following a reassessment of the contractual terms and members’ rights, the Directors have concluded that no repayment obligation exists. The amounts received represent contributions towards the long term maintenance of the Club over the expected period of ownership, rather than a liability owed back to members.
Accordingly, the Company has changed its accounting policy to recognise these receipts as a Maintenance Reserve within equity. The reserve will be applied to fund maintenance expenditure as it arises.
In line with FRS 102 Section 1A, the change in accounting policy has been applied retrospectively. Comparative figures have been restated to reflect the revised treatment.
The impact of the restatement is:
•A reduction in previously reported liabilities.
•A corresponding increase in equity through the creation of the “Maintenance Reserve”.
•No impact on profit or loss for the current or prior financial years.
The Directors consider that the revised policy provides more relevant and reliable information about the nature of these receipts and the Company’s financial position.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2024: 10)
14 10
Page 3
Page 4
Kingswear Park Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
4. Tangible Assets

| Land & Property
--- | ---
| Freehold | Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total
| £ | £ | £ | £ | £
Cost
As at 1 January 2025 | 500 | 86,727 | 22,235 | 15,101 | 124,563
Additions | - | - | 360 | 367 | 727
As at 31 December 2025 | 500 | 86,727 | 22,595 | 15,468 | 125,290
Depreciation
As at 1 January 2025 | 500 | 42,960 | 14,274 | 11,980 | 69,714
Provided during the period | - | 5,769 | 824 | 1,242 | 7,835
As at 31 December 2025 | 500 | 48,729 | 15,098 | 13,222 | 77,549
Net Book Value
As at 31 December 2025 | - | 37,998 | 7,497 | 2,246 | 47,741
As at 1 January 2025 | - | 43,767 | 7,961 | 3,121 | 54,849

5. Stocks

| 2025 |  | 2024 as restated
--- | --- | --- | ---
| £ |  | £
Stock | 850 |  | 1,000

6. Debtors

| 2025 |  | 2024 as restated
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 112,061 |  | 122,937
Other debtors | 15,522 |  | 27,464
| 127,583 |  | 150,401

7. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024 as restated
--- | --- | --- | ---
| £ |  | £
Trade creditors | 14,634 |  | 25,112
Other creditors | 224,830 |  | 225,512
Taxation and social security | 47,387 |  | 50,433
| 286,851 |  | 301,057

Page 4
Page 5
Kingswear Park Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
8. Reserves

| Sinking fund reserve | Maintenance reserve | Income and Expenditure Account
--- | --- | --- | ---
| £ | £ | £
As at 1 January 2025 | 49,838 | 256,938 | 1,536
Profit for the year and total comprehensive income | - | - | 40,836
Movement in the reserve | - | 54,495 | -
Transfer to/from Income & Expenditure Account | - | (151,019 ) | -
As at 31 December 2025 | 49,838 | 160,414 | 42,372

9. Related Party Transactions
The following management fees (inclusive of VAT) paid were paid by directors of the company.
(Included in turnover are the net amounts of £601.42 per week for 2025 and £569.66 per week for 2024)
Director 2025 2024
C.E Farrell £721.70 £683.60
NP Winteringham £721.70 £683.60
M Wallis £1,443.40 £0
P Newsham £721.70 £0
K W Howell £721.70 £683.60
N Clark £721.70 £683.60
G Scott £1,443.40 £1,367.20
It is not practical to quantify the incidental income received from the directors during their periods of occupancy.
Mileage rates claimed by the directors in respect of journeys undertaken on Club business at HM Revenue & Customs authorised rates.
10. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
11. Exceptional Items
FRS 102 Section 1A Disclosure – Recognition of Prior‑Period Maintenance Income
During the year, the company undertook a review of deferred income balances relating to advance maintenance fees invoiced to customers in prior periods. This review identified amounts that should have been released to the profit and loss account in earlier financial years, in accordance with the company’s revenue recognition policy under FRS 102.
As a result, income of £116,460 relating to prior periods has been recognised in the current year within other operating income. This adjustment reflects a timing difference in the release of deferred income and does not relate to the company’s trading activities for the current financial year.
Impact on the Financial Statements:
- Profit for the financial year increased by £116,460.
- Maintenance reserve at the year end decreased by £116,460.
- Comparative figures have not been restated, as permitted under FRS 102 Section 1A, because the directors consider that restatement is not necessary for the fair presentation of the prior‑year financial statements.
Presentation of Income
FRS 102 does not permit the presentation of extraordinary items. Accordingly, the income has been presented within other operating income rather than as an extraordinary item.
Directors’ Assessment
The directors consider that recognising this income in the current year provides a true and fair view of the company’s financial performance and position
Page 5