Registration number:
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Silvermere Golf & Leisure Limited
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Brebners
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Silvermere Golf & Leisure Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Statement of Income and Retained Earnings |
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Statement of Financial Position |
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Notes to the Financial Statements |
Silvermere Golf & Leisure Limited
Company Information
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Directors |
J T Hilliard T K Sims S J Turnbull |
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Company secretary |
J T Hilliard |
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Registered office |
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Auditor |
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Silvermere Golf & Leisure Limited
Strategic Report for the Year Ended 31 October 2025
The directors present their strategic report for the year ended 31 October 2025.
Principal activity
The principal activity of the company is the maintenance and conduct of a golf course and the related business of licensed victuallers and restaurateurs.
Fair review of the business
The company is home to the most accessible golf centre in the South East, set amongst some of Surrey's finest countryside. Silvermere offers first class facilities to suit all abilities, needs and tastes and will ensure everyone's golf experience is an enjoyable one. Facilities include a full 18 hole challenging golf course and an industry leading 52 bay 2 tier driving range with the latest Top Tracer ball tracking technology. The site also boasts 'The Inn on The Lake', a very busy bistro, function and event facility operating primarily in its focus as a commercial
public restaurant, bar, wedding and conference venue. The refurbished bistro overlooks the famous Silvermere lake offering great views in a picturesque setting.
Turnover has risen from £4.91m to £5.24m and gross profit increased by £240k from £1.852m to £2.091m and the gross profit margin therefore increased from 37.7% to 39.9%. The directors note that the company saw exceptional levels of growth in the year ended 31 October 2022 and although this has slowed down in 2023 and 2024, it has begun to pick up once more. This is despite the ongoing roadworks at the nearby A3/M25 junction which had caused lengthy delays, especially on certain weekends. The directors are pleased with the improvement in the gross profit margin and how both the golf and catering revenue streams have remained strong despite the rise in the cost of living.
The directors have carefully controlled and managed overheads where possible throughout the year. Work continued on the irrigation system project during 2025 and this will be completed in stages over a number of years.
Overall profit before tax increased from £620k to £719k and net assets rose as a result to £10.2m from £9.6m.
The directors pride themselves on the reputation of the golf club within its market place, the continuing support and development it offers to its loyal customers, along with the on-site access to the Silvermere Golf Superstore, ensuring it continues to be one of Europe's busiest golf clubs.
The directors anticipate the principal activity of the company will remain the same and they expect continued good profitability in 2026, particularly as the roadworks by the A3/M25 junction have now completed. The golf course continues to be maintained to a high standard, with improvements implemented as necessary, as highlighted through the ongoing irrigation system project.
Key Performance Indicators
The company's key financial and other performance indicators during the year were as follows:
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Financial KPIs |
Unit |
2025 |
2024 |
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Turnover |
£000 |
5,237 |
4,907 |
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Percentage Change |
% |
6 |
(1.2) |
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Gross Profit |
£000 |
2,091 |
1,852 |
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Gross Profit Margin |
% |
39.94 |
37.75 |
Silvermere Golf & Leisure Limited
Strategic Report for the Year Ended 31 October 2025
Non-Financial Key Performance Indicators
The company seeks to ensure that responsible business practice is fully integrated into the management of all its operations and into the culture of all parts of its business. It believes that the consistent adoption of reasonable business practice is essential for operational excellence which in turn ensures the delivery of its core objective of sustained profitability.
The company will continue to invest in the underlying systems, governance and infrastructure to support the company going forward.
In a company of this size the directors consider there are collectively numerous non-financial performance indicators but that individually none are key.
Operational Risk
Operational risk is caused by failures in business processes or the systems or physical infrastructure that support them that have the potential to result in financial loss or reputational damage. This includes errors, omissions, systems failure, lack of resources or physical assets and deliberate acts such as fraud.
The directors impose continuing self assessment and appraisals along with continually seeking to improve its operating efficiencies and standards.
Credit Risk
Credit risk is the risk that counter-parties will not be able to meet their obligations as they fall due. The company closely monitors outstanding debts from all sources resulting in minimal exposure.
Liquidity risk
The company ensures that liquidity is maintained and financial obligations are met by monitoring the cash balances daily to ensure it retains flexibility in the management of cash flow. In the event that cash flows would not cover financial obligations the company has credit facilities available.
Market Risk
Golf-related income is a discretionary spend and the directors are aware that the business may have some exposure to the current climate and its impact on consumer spending. However the directors note that Golf was able to continue and abide by Governmental restrictions and therefore has not been overly affected by market risk. The directors also feel the reputation and position in the South East ensure it is not exposed to significant market risk.
Foreign currency risk
As the company operates a golf club in the UK so is not exposed to foreign currency risk.
Interest rate risk
The company is exposed to interest rate risk as its own funds are held on deposit. Interest rates are regularly monitored by the directors. The directors ensure that sufficient resources are available so obligations can be met when they fall due.
Silvermere Golf & Leisure Limited
Strategic Report for the Year Ended 31 October 2025
Risk summary
The directors continuously monitor and respond to changes in the company's risk environment and this has been subject to regular review processes, so ensuring that the company remains well placed to address operational, financial and business risks in a timely and appropriate manner.
Future developments
Based on the information available and the company's current trading performance the directors continue to invest in new products and its facilities, to ensure the club maintains its reputation as a renowned golf and leisure club. The directors also continue to develop the course to ensure members and players have an enjoyable experience.
Approved by the
.........................................
Director
Silvermere Golf & Leisure Limited
Directors' Report for the Year Ended 31 October 2025
The directors present their report and the financial statements for the year ended 31 October 2025.
Directors of the company
The directors who held office during the year were as follows:
Dividends
No interim dividends were paid in the year (2024: £Nil). No final dividend is proposed.
Information included in the Strategic Report
The company has chosen in accordance with section 414C(11) Companies Act 2006 to set out in the company's strategic report information required by Schedule 7 of the large and medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of financial risk management, exposure and future developments.
Directors' liabilities
The company has purchased Directors’ and Officers’ liability Insurance for Directors and Officers as permitted by section 233 of the Companies Act 2006.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved by the director on
.........................................
J T Hilliard
Director
Silvermere Golf & Leisure Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Silvermere Golf & Leisure Limited
Independent Auditor's Report to the Members of Silvermere Golf & Leisure Limited
for the Year Ended 31 October 2025
Opinion
We have audited the financial statements of Silvermere Golf & Leisure Limited (the 'company') for the year ended 31 October 2025, which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 October 2025 and of its profit 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. |
Basis for opinion
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 Auditor’s 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 UK, including the FRC’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.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Silvermere Golf & Leisure Limited
Independent Auditor's Report to the Members of Silvermere Golf & Leisure Limited
for the Year Ended 31 October 2025
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities (set out on page 6), the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Silvermere Golf & Leisure Limited
Independent Auditor's Report to the Members of Silvermere Golf & Leisure Limited
for the Year Ended 31 October 2025
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the company and the industry in which it operates, we determined that the principal risks of non-compliance with laws and regulations related to the reporting framework (FRS 102 and the Companies Act 2006) and UK corporate taxation laws, health and safety legislation, food hygiene standards and data protection legislation. These risks were communicated to our audit team and we remained alert to any indications of non-compliance throughout our audit.
We understood how the company is complying with relevant legislation by making enquiries of management and those responsible for legal and compliance procedures. We also considered the results of our audit procedures and to what extent these corroborate this understanding and assessed the susceptibility of the company’s financial statements to material misstatement. This included consideration of how fraud might occur and evaluation of management’s incentives and opportunities for fraudulent manipulation of the financial statements.
We designed our audit procedures to identify any non-compliance with laws and regulations. Such procedures included, but were not limited to, inspection of any regulatory or legal correspondence; challenging assumptions and judgements made by management; identifying and testing journal entries with a focus on large or unusual transactions as determined based on our understanding of the business; and identifying and assessing the effectiveness of controls in place to prevent and detect fraud.
Owing to the inherent limitations of an audit, there remains a risk that a material misstatement may not have been detected, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance with laws and regulations and cannot be expected to detect all instances of non-compliance.
The primary responsibility for the detection and prevention of fraud rests with those responsible for governance and management. The further removed non-compliance with laws and regulations is from the events reflected in the financial statements, the less likely the auditor will become aware of it.
The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission, misrepresentation or forgery.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Silvermere Golf & Leisure Limited
Independent Auditor's Report to the Members of Silvermere Golf & Leisure Limited
for the Year Ended 31 October 2025
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
1 Suffolk Way
TN13 1YL
Silvermere Golf & Leisure Limited
Statement of Income and Retained Earnings for the Year Ended 31 October 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Other operating income |
- |
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Operating profit |
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Interest payable and similar charges |
( |
( |
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(93,913) |
(79,276) |
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Profit before tax |
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|
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Taxation |
( |
( |
|
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Profit for the financial year |
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|
|
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Retained earnings brought forward |
9,393,869 |
8,945,562 |
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Retained earnings carried forward |
9,924,839 |
9,393,869 |
Silvermere Golf & Leisure Limited
Statement of Financial Position as at 31 October 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
|||
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Called up share capital |
250,000 |
250,000 |
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Retained earnings |
9,924,839 |
9,393,869 |
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Shareholders' funds |
10,174,839 |
9,643,869 |
Company registration number: 01844916
Approved and authorised by the
........................................
J T Hilliard
Director
........................................
S J Turnbull
Director
Silvermere Golf & Leisure Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is the maintenance and conduct of a golf course and the related business of licensed victuallers and restaurateurs.
The principal place of business is:
Silvermere Golf Club
Redhill Road
Cobham
Surrey
KT11 1EF
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Accounting policies |
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
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.
Summary of disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS102. Its financial statements are consolidated into the financial statements of Dwellcourt Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS102:
(a) No cash flow statement has been presented for the company.
(b) No disclosure has been made of financial instruments measured at fair value through profit or loss.
(c) No disclosure has been given for the aggregate remuneration of key management personnel.
Silvermere Golf & Leisure Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Going concern
The company made a profit for the year ended 31 October 2025 and had net assets at that date of £10,174,839.
The company had net current liabilities at 31 October 2025 of £1,207,298. At this date an amount of £2,130,022 was due to group undertakings who continue to support the company. Repayment is only required at such a time as the company has sufficient working capital.
The company has continued to trade profitably subsequent to 31 October 2025.
On the basis of the above, the directors have a reasonable expectation that the company has adequate resources to continue operating in the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. Key assumptions and other estimation uncertainties provide a risk of causing a material adjustment to the carrying values of assets and liabilities. |
Judgements and estimates that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: |
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue from golf club subscriptions evenly over the period of membership and from green fees and other golfing activities on the date of play. Revenue from catering, bars and events is recognised on the date the services are provided.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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.
Silvermere Golf & Leisure Limited
Notes to the Financial Statements for the Year Ended 31 October 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position 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, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Freehold property |
Over 50 years |
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Plant and machinery |
15% straight line |
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Fixtures, fittings and equipment |
15% - 30% straight line |
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Motor vehicles |
25% straight line |
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.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Silvermere Golf & Leisure Limited
Notes to the Financial Statements for the Year Ended 31 October 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.
Finance leases
Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.
The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.
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Turnover |
The analysis of the company's revenue for the year from continuing operations is as follows:
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2025 |
2024 |
|
|
Rendering of services |
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The company's activities were carried out wholly in the UK.
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Other operating income |
The analysis of the company's other operating income for the year is as follows:
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2025 |
2024 |
|
|
Miscellaneous other operating income |
- |
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Profit on disposal of property, plant and equipment |
( |
- |
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest expense on other finance liabilities |
|
|
Silvermere Golf & Leisure Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
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Staff costs |
The aggregate payroll costs were as follows:
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2025 |
2024 |
|
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Wages and salaries |
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Social security costs |
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Pension costs, defined contribution scheme |
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The average number of persons employed by the company during the year, analysed by category, was as follows:
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2025 |
2024 |
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Golf |
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Catering |
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Auditor's remuneration |
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2025 |
2024 |
|
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Audit of the financial statements |
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Other fees to auditors |
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Taxation compliance services |
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All other non-audit services |
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Silvermere Golf & Leisure Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
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Taxation |
Tax charged/(credited) in the income statement
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2025 |
2024 |
|
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Current taxation |
||
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UK corporation tax |
|
|
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UK corporation tax adjustment to prior periods |
( |
( |
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212,327 |
148,974 |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
( |
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Tax expense in the income statement |
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The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
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2025 |
2024 |
|
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Profit before tax |
|
|
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Corporation tax at standard rate |
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|
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Tax increase/(decrease) from effect of capital allowances and depreciation |
|
( |
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Tax (decrease)/increase from other short-term timing differences |
( |
|
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(Over)/under provision in respect of previous years |
( |
( |
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Total tax charge |
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Deferred tax
|
2025 |
Liability |
|
Accelerated capital allowances |
|
|
Fair value adjustment |
|
|
|
|
2024 |
Liability |
|
Accelerated capital allowances |
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|
Fair value adjustment |
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Silvermere Golf & Leisure Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
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Tangible assets |
|
Freehold Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and Equipment |
Total |
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Cost or valuation |
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At 1 November 2024 |
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Additions |
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|
- |
|
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Disposals |
- |
( |
- |
- |
( |
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At 31 October 2025 |
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Depreciation |
|||||
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At 1 November 2024 |
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|
|
Charge for the year |
|
|
- |
|
|
|
Eliminated on disposal |
- |
( |
- |
- |
( |
|
At 31 October 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 October 2025 |
|
|
- |
|
|
|
At 31 October 2024 |
|
|
- |
|
|
Analysis of the land and buildings valued at the date of transition to FRS 102 using the deemed cost exemption:
|
2025 |
2024 |
|||
|
£ |
£ |
|||
|
Historical cost equivalent |
1,671,030 |
1,702,632 |
||
|
Revaluation |
6,465,528 |
6,473,135 |
||
|
Carrying value |
8,136,558 |
8,175,767 |
||
The properties were last revalued in 1998, the directors having taken advice from an independent valuer.
|
Stocks |
|
2025 |
2024 |
|
|
Other inventories and consumables |
|
|
Silvermere Golf & Leisure Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
Debtors |
|
2025 |
2024 |
|
|
Trade debtors |
|
|
|
Amounts owed by group undertakings |
|
|
|
Other debtors |
|
- |
|
Prepayments |
|
|
|
Total current trade and other debtors |
|
|
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
|
|
Creditors |
|
2025 |
2024 |
|
|
Due within one year |
||
|
Trade creditors |
|
|
|
Amounts due to group undertakings |
|
|
|
Social security and other taxes |
|
|
|
Other payables |
|
|
|
Accrued expenses and deferred income |
|
|
|
Corporation tax liability |
130,745 |
67,549 |
|
|
|
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Silvermere Golf & Leisure Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 November 2024 |
|
|
|
Increase (decrease) in existing provisions |
( |
( |
|
At 31 October 2025 |
|
|
|
|
||
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
250,000 |
|
250,000 |
There are no restrictions on the distribution of dividends or the repayment of capital.
|
Reserves |
Profit and loss account is the reserve that records retained earnings.
The profit and loss account includes an amount of £6,483,390 which is not distributable.
|
Commitments, guarantees and contingencies |
Operating leases
The total of future minimum lease payments not reflected in the statement of financial position is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
- |
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
Silvermere Golf & Leisure Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Contingent liabilities
The company has guaranteed the bank borrowings of the parent undertaking, Dwellcourt Limited. At 31 October 2025 no amounts are outstanding and therefore no liability is expected to arise. The guarantee is secured by a fixed and floating charge on company’s assets and undertakings.
|
Related party transactions |
Exemption has been taken under FRS 102 Paragraph 33.1A, not to disclose transactions or amounts falling due with companies that are wholly owned within the group.
The company paid management charges amounting to £17,029 (2024: £16,646), purchased goods and services of £65,416 (2024: £81,470) and received income of £129,442 (2024: £106142) from companies not wholly owned within the group. At 31 October 2025 an amount of £1,381,880 (2024: £992,504) was due from companies not wholly owned within the group.
|
Parent and ultimate parent undertaking |
The company's immediate and ultimate parent undertaking is
The smallest and largest group preparing group accounts including the results of the company is headed by Dwellcourt Limited.
The registered address of Dwellcourt Limited is; The Downs Farm, Reigate Road, Ewell, Surrey, KT17 3BY.
Ultimate control vests with the trustees of 'The Thomas Albert Hilliard Discretionary Trust'.