REGISTERED NUMBER: 09344463 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2025

FOR

INGREBOURNE LINKS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Kerodi Chandregowda

REGISTERED OFFICE:

Unit 701

Vauxhall Sky Gardens

153 Wandsworth Road

London

SW8 2BG

REGISTERED NUMBER:

09344463 (England and Wales)

SENIOR STATUTORY AUDITOR:

Andrew Green LLB FCA

AUDITORS:

THP Limited

Chartered Accountants

and Statutory Auditors

34-40 High Street

Wanstead

London

E11 2RJ

FIXED ASSETS

Tangible assets

4

6,584,618

6,500,000

Investments

5

1

1

6,584,619

6,500,001

CURRENT ASSETS

Debtors

6

583,318

49,314

Cash at bank

41

166

583,359

49,480

CREDITORS

Amounts falling due within one year

7

1,905,199

89,673

NET CURRENT LIABILITIES

(1,321,840

)

(40,193

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,262,779

6,459,808

CREDITORS

Amounts falling due after more than one year

8

(3,136,577

)

(3,962,248

)

PROVISIONS FOR LIABILITIES

(677,676

)

(677,676

)

NET ASSETS

1,448,526

1,819,884

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

10

2,032,829

2,032,829

Retained earnings

(584,304

)

(212,946

)

1,448,526

1,819,884

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 June 2026 and were signed by:

S Kerodi Chandregowda - Director

1.	STATUTORY INFORMATION

Ingrebourne Links Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements and going concern

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis despite the loss for the period. The Company can rely on the support of fellow group companies for cashflow support as required.

The net assets at the balance sheet date were £1,448,526 (2024: £1,819,884), reflecting the strong position of the Company from an overall solvency point of view.

In light of this, the Directors have prepared these accounts on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Ingrebourne Links Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Ingrebourne Valley Holdings Limited, Cecil House, Foster Street, Harlow, Essex, CM17 9HY.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Licence fee income is recognised on a receivable basis.

Rental income is recognised on an accruals basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery

5%-12.5% on cost

Items costing less than £1,000 are not capitalised but written off to the Profit and Loss Account as incurred.

The Directors consider that the freehold buildings are maintained in such a way that the residual value is at least equal to its net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account. The Directors perform annual impairment reviews in accordance with the requirements of the Financial Reporting Standard 102 to ensure that the recoverable amount is not lower than the carrying value.

Freehold land is not depreciated.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Freehold

land and

Plant and

buildings

machinery

Totals

£

£

£

COST

At 1 July 2024

6,347,213

159,587

6,506,800

Additions

97,378

-

97,378

At 31 December 2025

6,444,591

159,587

6,604,178

DEPRECIATION

At 1 July 2024

-

6,800

6,800

Charge for period

-

12,760

12,760

At 31 December 2025

-

19,560

19,560

NET BOOK VALUE

At 31 December 2025

6,444,591

140,027

6,584,618

At 30 June 2024

6,347,213

152,787

6,500,000

Freehold land and buildings were valued on an open market basis on 31 December 2025 by the

Directors. The entire site is valued in its entirety and as such it is not possible to separately disclose the value

of land that is not subject to depreciation.

Cost or valuation at 30 September 2025 is represented by:

Freehold Land

£

Cost

3,734,086

Revaluations

2,710,505

Net book value

6,444,591

All other assets are stated at original cost.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2024

and 31 December 2025

1

NET BOOK VALUE

At 31 December 2025

1

At 30 June 2024

1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Aveley Leisure Limited

Registered office: Cecil House, Foster Street, Harlow, Essex,CM17 9HY

Nature of business: Golf course operator

%

Class of shares:

holding

Ordinary

100.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

583,318

40,000

VAT

-

6,839

Prepayments and accrued income

-

2,475

583,318

49,314

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

19

-

Amounts owed to group undertakings

-

87,385

Amounts owed to associates

1,650,000

-

VAT

5,230

-

Other creditors

249,950

-

Accrued expenses

-

2,288

1,905,199

89,673

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

3,136,577

3,962,248

9.	SECURED DEBTS

A third party holds a charge over the freehold land and property of the Company as security for a loan held by a fellow group company.

Another third party holds a charge over the freehold land and property as security for loans received after the year end.

10.

RESERVES

Revaluation

reserve

£

At 1 July 2024

and 31 December 2025

2,032,829

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Green LLB FCA (Senior Statutory Auditor)

for and on behalf of THP Limited

12.	CONTINGENT LIABILITIES

Group bank loans and a group sales invoice financing facility are secured by way of fixed and floating charges over the Company's assets.

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14.	POST BALANCE SHEET EVENTS

On 15 January 2026, the entire share capital of the Company was purchased by ILGOLF 2 Limited.

On the same date, the Company received a capital contribution from its Ingrebourne Valley Holdings Limited in the form of refinancing of loans owed to other parties. The transaction has been treated as a capital contribution on that basis that:

1. The contribution is not repayable;

2. It is for capital purposes to strengthen the Company balance sheet; and

3. It was not in consideration for the issue of shares.

On 15 May 2026, the Company secured a new loan facility of £5,775,000 in order to refinance existing debts and to assist with investment into the Golf Course and Country Club.

15.	ULTIMATE CONTROLLING PARTY

At the period end, the ultimate parent company that draws up consolidated accounts was Ingrebourne Valley Holdings Limited, whose registered office and place of business is the same as Ingrebourne Links Limited. Copies of the consolidated accounts are available at Companies House.

Subsequent to the period end, the immediate parent company became ILGOLF 2 Limited and the ultimate parent company in the UK became Ingrebourne Country Club Holdings Ltd.

There is no overall controlling party.