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Registered number: 00510976 PARKLANGLEY FREEHOLDS LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025
PARKLANGLEY FREEHOLDS LIMITED REGISTERED NUMBER: 00510976 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  |  |  | As restated
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 5 |  | - |  | 40,818
Tangible assets | 6 |  | 3,645,281 |  | 3,901,400
Investments | 7 |  | 10 |  | 10
|  |  | 3,645,291 |  | 3,942,228
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 8 | 529,472 |  | 235,703 |
Cash at bank and in hand | 9 | 2,095,623 |  | 1,970,767 |
|  | 2,625,095 |  | 2,206,470 |
Creditors: amounts falling due within one year | 10 | (140,826) |  | (180,847) |
Net current assets |  |  | 2,484,269 |  | 2,025,623
Total assets less current liabilities |  |  | 6,129,560 |  | 5,967,851
Provisions for liabilities |  |  |  |  |
Deferred tax | 11 | (76,000) |  | (76,000) |
|  |  | (76,000) |  | (76,000)
Net assets |  |  | 6,053,560 |  | 5,891,851
Capital and reserves |  |  |  |  |
Revaluation reserve |  |  | 2,376,592 |  | 2,376,592
Other reserves |  |  | 19,884 |  | 19,884
Profit and loss account |  |  | 3,657,084 |  | 3,495,375
|  |  | 6,053,560 |  | 5,891,851
Page 1
PARKLANGLEY FREEHOLDS LIMITED REGISTERED NUMBER: 00510976 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2025 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
K Waterton
Director
Date: 1 May 2026
The notes on pages 4 to 14 form part of these financial statements. Page 2
PARKLANGLEY FREEHOLDS LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Revaluation reserve | Other reserves | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 April 2023 (as previously stated) | 2,376,592 | 19,884 | 3,569,855 | 5,966,331
Prior year adjustment - Note 12 | - | - | (70,206) | (70,206)
At 1 April 2023 (as restated) | 2,376,592 | 19,884 | 3,499,649 | 5,896,125
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (4,274) | (4,274)
At 1 April 2024 (as previously stated) | 2,376,592 | 19,884 | 3,516,582 | 5,913,058
Prior year adjustment - Note 12 | - | - | (21,207) | (21,207)
At 1 April 2024 (as restated) | 2,376,592 | 19,884 | 3,495,375 | 5,891,851
Comprehensive income for the year |  |  |  |
Profit for the year | - | - | 161,709 | 161,709
At 31 March 2025 | 2,376,592 | 19,884 | 3,657,084 | 6,053,560
| The notes on pages 4 to 14 form part of these financial statements.
Page 3
PARKLANGLEY FREEHOLDS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
The principal activity of Parklangley Freehold Limited ("the Company") is the operation of sports facilities. The Company is private company limited by guarentee incoporated in England and Wales. The address of the principle place of business is The Parklangley Club, 44a Wickham Way, Beckenham, Kent, BR3 3AF. The Company's functional and presentational currency is GBP. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Exemption from preparing consolidated financial statements
The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
| 2.3 | Going concern
The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to be able to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements. The Company has an overall net asset position of £6,053,560 with a strong cash balance of £2,095,623. The Company, as for any business, relies upon the generation of profits and cash to create working capital to meet its liabilities as they fall due. Based on the results to date and future projections, the Directors are confident that the Company will continue to meet its liabilities as they fall due, looking forward at least twelve months from the date of signing these financial statements. Page 4
PARKLANGLEY FREEHOLDS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised as follows: Membership subscriptions Membership income is recognised on a straight-line basis over the period of membership, as the benefits of membership are provided evenly over time. Amounts received in advance are recognised as deferred income and released to the profit and loss account over the membership period. Court bookings income Income from court bookings is recognised at the point the court is used. Income received in advance of the booking date is deferred and recognised in the period in which the court is utilised. Coaching income Coaching fees are recognised in the period in which the sessions are delivered. Fees received in advance for courses or block bookings are deferred and recognised over the duration of the course or programme.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds. Page 5
PARKLANGLEY FREEHOLDS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.7 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. The Company is regarded by His Majesty's Revenue and Customs as enjoying Mutual Trading Status, whereby it was exempted from its dealings with its own Members but taxable. However, Corporation Tax still has to be provided for on Investment Income, but as the Company is also a registered Community Amateur Sports Club, its receipt of Investment Income is exempt from Corporation Tax. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.8 | Intangible assets
Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life. The estimated useful lives range as follows:
|  |  |  | Goodwill | - | 20 | years
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 6
PARKLANGLEY FREEHOLDS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.9 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Fixtures and fittings | - | 33% |
|  |  |  | Land & Buildings | - | 2% |
|  |  |  | Outdoor facilities | - | 15% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.11 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Page 7
PARKLANGLEY FREEHOLDS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.13 | Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties. (i) Financial assets Basic financial assets, including trade & other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled; or (b) substantially all the risks and rewards of ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. (ii) Financial liabilities Basic financial liabilities, including trade and other creditors, bank loans and loans from other third parties, 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 receipts discounted at a market rate of interest. 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. Creditors 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. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Fair value models assume that the effective rate of interest to be used for valuing fair value is that rate at which the company can obtain external finance. Page 8
PARKLANGLEY FREEHOLDS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Statement of Financial Position date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from these estimates. Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The key assumptions concering the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include: Deferred income Deferred income for the accounting periods ended 31 March 2024 and 31 March 2025 has been recognised using an estimated allocation methodology, applying a consistent allocation basis informed by reliable data available from 1 April 2025. Management has exercised judgement in determining that this approach provides a reasonable estimate of deferred income at each reporting date. This approach has been adopted on the basis that the club’s revenue streams, primarily recurring annual memberships and regular coaching activities, have remained consistent in nature and timing across the periods presented. Whilst this represents management’s best estimate using available information, the actual deferred income balance may differ from this estimate. However, management does not consider any such differences to be material to the financial statements.
4. | Employees
| The average monthly number of employees, including directors, during the year was 24 (2024 - 24).
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PARKLANGLEY FREEHOLDS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 April 2024 | 816,474
| At 31 March 2025 | 816,474
| Amortisation |
| At 1 April 2024 | 775,656
| Charge for the year on owned assets | 40,818
| At 31 March 2025 | 816,474
| Net book value |
| At 31 March 2025 | -
| At 31 March 2024 | 40,818
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PARKLANGLEY FREEHOLDS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. | Tangible fixed assets
|  | Freehold property | Fixtures and fittings | Land & Buildings | Outdoor facilities | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 April 2024 | 400,000 | 2,292,483 | 3,894,675 | 660,115 | 7,247,273
| Additions | - | 3,784 | - | - | 3,784
| At 31 March 2025 | 400,000 | 2,296,267 | 3,894,675 | 660,115 | 7,251,057
| Depreciation |  |  |  |  |
| At 1 April 2024 | - | 1,478,219 | 1,303,227 | 564,427 | 3,345,873
| Charge for the year on owned assets | - | 171,394 | 77,893 | 10,616 | 259,903
| At 31 March 2025 | - | 1,649,613 | 1,381,120 | 575,043 | 3,605,776
| Net book value |  |  |  |  |
| At 31 March 2025 | 400,000 | 646,654 | 2,513,555 | 85,072 | 3,645,281
| At 31 March 2024 | 400,000 | 814,264 | 2,591,448 | 95,688 | 3,901,400
| The freehold property is held at fair value, based on periodic valuations. The property was valued by the directors on an open market basis. The directors have reviewed the valuation at 31 March 2025 and consider that there has been no material change in value during the year.
7. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 April 2024 | 10
| At 31 March 2025 | 10
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PARKLANGLEY FREEHOLDS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 519,385 | 223,467
| Other debtors | 1,290 | 1,111
| Prepayments and accrued income | 8,797 | 11,125
|  | 529,472 | 235,703
| Amounts owed by group undertakings are interest free and repayable on demand.
9. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 2,095,623 | 1,970,767
10. | Creditors: Amounts falling due within one year
|  |  |  |  |  | As restated
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Members loans | 11,176 | 11,176
| Trade creditors | 21,727 | 39,367
| Other taxation and social security | 398 | 9,653
| Accruals and deferred income | 107,525 | 120,651
|  | 140,826 | 180,847
| Members loans are loans in respect of amounts loaned to the Company by individuals which attract a reduced subscription.
Page 12
PARKLANGLEY FREEHOLDS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
11. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (76,000) | (76,000)
| At end of year | (76,000) | (76,000)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (76,000) | (76,000)
|  | (76,000) | (76,000)
12. | Prior year adjustment
The comparative information in the financial statements has been restated from the figures previously reported in the prior year financial statements as follows: A prior year adjustment was necessary to recognise deferred income. This restatement resulted in a decrease in turnover previously reported by £12,492, an increase in creditors of £82,698 and a decrease in retained earnings brought forward of £70,206. A second prior year adjustment was necessary to correct the allocation of costs. This restatement resulted in a decrease in administration expenses previously reported by £58,447, an increase in turnover of £3,044, and an increase in amounts owed by group undertakings by £61,491.
13. | Pension commitments
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £902 (2024 - £1,256) were payable to the fund at the reporting date and are included in creditors.
14. | Related party transactions
| The company has taken advantage of the exemption under FRS 102 33.1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.
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PARKLANGLEY FREEHOLDS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
15. | Auditors' information
The auditors' report on the financial statements for the year ended 31 March 2025 was qualified. The qualification in the audit report was as follows: In the absence of supporting records, we were unable to obtain sufficient appropriate audit evidence regarding the existence, completeness, and valuation of tangible fixed assets included within the financial statements at £3,645,281 (2024 - £3,901,400). Consequently, we were unable to determine whether any adjustments might have been necessary in respect of tangible fixed assets, depreciation, the revaluation reserve, the deferred tax provision or related disclosures in the financial statements. Additionally, in the absence of supporting records, we were unable to obtain sufficient appropriate audit evidence regarding the existence and valuation of intangible fixed assets included within the financial statements at £Nil (2024 - £40,818). Consequently, we were unable to determine whether any adjustments might have been necessary in respect of intangible fixed assets, amortisation or related disclosures in the financial statements. We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. The audit report was signed on 1 May 2026 by Catalina Feier FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.
Page 14