Registration number: 05049372

The Hurlingham Polo Association

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 10

The Hurlingham Polo Association

(Registration number: 05049372)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	5	65,070	-
Tangible assets	6	509,871	512,385
Investments in subsidiaries	7	1	1
Listed investments	8	811,622	788,221
		1,386,564	1,300,607
Current assets
Debtors	9	185,287	190,982
Cash at bank and in hand		71,763	140,222
		257,050	331,204
Creditors: Amounts falling due within one year	10	(179,792)	(88,087)
Net current assets		77,258	243,117
Net assets		1,463,822	1,543,724
Capital and reserves
Revaluation reserve		495,800	495,800
Profit and loss account		968,022	1,047,924
Total equity		1,463,822	1,543,724

The Hurlingham Polo Association

(Registration number: 05049372)
Balance Sheet as at 31 December 2025

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 May 2026 and signed on its behalf by:
 

......................................... Mr William Arthur Henry Lascelles Lucas Chairman

The Hurlingham Polo Association

Notes to the Financial Statements for the Year Ended 31 December 2025

1	General information

The Hurlingham Polo Association is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Unit 2 Park Farm
Akeman Street
Kirtlington
Oxfordshire
OX5 3JQ
United Kingdom

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going Concern

The HPA continues to have access to significant liquid resources and these can be augmented, if necessary by utilising some of its reserves, which have been accumulated to provide protection in times of need.

Therefore the directors have a reasonable expectation that the HPA will continue to have sufficient financial resources available to enable it to meet its liabilities as they fall due for the foreseeable future, being not less than one year from the date on which these financial statements were signed, including the provision of support to the subsidiary company, HPA Commercial Limited (see also note 12).

These financial statements have therefore been drawn up on the going concern basis, which assumes that this will be the case.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of membership fees and associated income in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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 taxable income.

The Hurlingham Polo Association

Notes to the Financial Statements for the Year Ended 31 December 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	20% straight line
Trophies	Nil depreciation

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Software	10% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

The Hurlingham Polo Association

Notes to the Financial Statements for the Year Ended 31 December 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Taxation

	2025		2024
	£		£
Corporation tax	(16,379)		17,763
Deferred tax	-		-
	(16,379)		17,763

4	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 30 (2024 - 29).

During the year no director received any remuneration for their services to the company (2024: £nil)

5	Intangible assets

	Match management software £	Total £
Cost or valuation
Additions purchased	72,300	72,300
At 31 December 2025	72,300	72,300
Amortisation
Amortisation charge	7,230	7,230
At 31 December 2025	7,230	7,230
Carrying amount
At 31 December 2025	65,070	65,070

The Hurlingham Polo Association

Notes to the Financial Statements for the Year Ended 31 December 2025

6	Tangible assets

	Trophies £	Office equipment £	Total £
Cost or valuation
At 1 January 2025	495,800	41,758	537,558
Additions	-	3,127	3,127
Disposals	-	(6,514)	(6,514)
At 31 December 2025	495,800	38,371	534,171
Depreciation
At 1 January 2025	-	25,173	25,173
Charge for the year	-	5,641	5,641
Eliminated on disposal	-	(6,514)	(6,514)
At 31 December 2025	-	24,300	24,300
Carrying amount
At 31 December 2025	495,800	14,071	509,871
At 31 December 2024	495,800	16,585	512,385

The company owns a number of perpetual and historic trophies, which have been included on the balance sheet at their estimated market value as determined by professionally qualified valuers. Until the financial year ended 31 December 2024, no value was attributed to the trophies and the uplift to market value was recognised in the revaluation reserve. The market value will be updated each year as required.

The Hurlingham Polo Association

Notes to the Financial Statements for the Year Ended 31 December 2025

7	Investments

	2025 £	2024 £
Investments in subsidiaries	1	1