1.
General Information
Bryn Meadows Golf & Country Club Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
02045761
. The registered office is Bryn Meadows Golf & Country Club, The Bryn, Maesycwmmer, Hengoed, Mid Glam, CF82 7SN.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. They have been prepared under the historical cost convention, modified to include the revaluation of freehold land and buildings.
The financial statements are presented in sterling, which is the company’s functional and presentational currency, and amounts are rounded to the nearest pound.
2.2.
Financial Reporting Standard 102 - Reduced Disclosure Exemptions
The company is a qualifying entity for the purposes of FRS 102 and has taken advantage of the exemptions available under paragraph 1.12 of FRS 102 from the following disclosures:
- the requirements of Section 7, Statement of Cash Flows, and paragraph 3.17(d);
- the requirements of paragraphs 11.39 to 11.48A and paragraphs 12.26 to 12.29 relating to financial instruments; and
- the requirement in paragraph 33.7 to disclose key-management personnel compensation.
The company’s results are included in the consolidated financial statements of Saddlebrook (Holdings) Limited.
2.3.
Going Concern Disclosure
2.3.
Going Concern Disclosure - continued
The financial statements have been prepared on the going concern basis.
In assessing the appropriateness of this basis, the director has considered the company’s financial position, recent and forecast trading performance, banking facilities, debt-servicing obligations and forecast cash requirements for a period of at least twelve months from the date on which these financial statements are authorised for issue.
The company remained profitable during the year and generated profit after taxation of £317,501. It continues to generate positive underlying operating earnings from its established golf, hotel, leisure, hospitality, food and beverage and events operations and has a substantial underlying asset base.
At 31 July 2025, the company reported net current assets of £417,595. Current assets included significant related-party balances, comprising £1,501,203 due from Saddlebrook (Holdings) Limited and £206,500 due from Mayo Property Developments Limited. These balances are not expected to represent an immediate source of external liquidity. The company also has material bank-loan and finance-lease repayment commitments and remains reliant upon the continued availability of its banking facilities.
Trading following the year end has reflected the seasonal profile of the business, with lower activity during the winter months. Against this backdrop, performance has been below the level originally budgeted, and the director has therefore continued to review expected trading, debt-service requirements and available liquidity.
...CONTINUED
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
The company’s forecasts remain sensitive to the level of future trading achieved and the timing of working-capital movements, taxation payments, capital expenditure and financing commitments. The director continues to monitor these matters closely, together with covenant compliance and the availability of banking facilities, and will take appropriate mitigating action where necessary, including control over expenditure, capital investment and distributions.
The director has also considered the anticipated contribution from Pinebark Lodge, which commenced trading after the reporting date, together with the company’s historic profitability, underlying asset base and available financing arrangements.
The matters described above create a degree of uncertainty in assessing the company’s future cash requirements, particularly given the seasonal nature of the business, the wider economic pressures affecting the hospitality and leisure sector and the inherent difficulty in forecasting future trading performance.
The director has therefore placed particular emphasis on future trading performance, the continued availability of banking facilities and the careful management of financing, taxation and other obligations. Having considered the range of reasonably possible outcomes and the mitigating actions available, the director does not consider that these matters give rise to a material uncertainty related to going concern.
The director considers that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the going concern basis of preparation remains appropriate.
2.4.
Significant judgements and estimations
2.4.
Significant judgements and estimations - continued
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are considered to be reasonable under the circumstances.
In the application of the company’s accounting policies, management is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and, where applicable, in future periods.
The key sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Valuation of land and buildings
The company’s land and buildings are held at revalued amounts. The valuation is based on periodic professional valuations and management’s assessment of market conditions at the reporting date. These valuations involve significant judgement and are sensitive to assumptions regarding market values, condition of the properties, and future economic conditions. Changes in these assumptions could result in material adjustments to the carrying value of the assets.
Useful economic lives of tangible assets
The annual depreciation charge is sensitive to changes in the estimated useful economic lives and residual values of tangible assets. These estimates are reassessed annually, taking into account factors such as asset usage, maintenance programmes, technological developments and the physical condition of the assets.
...CONTINUED
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
Depreciation of freehold buildings
The company does not provide depreciation on its freehold buildings. In reaching this conclusion, the director has considered the property’s carrying amount, estimated residual value, external valuation evidence, physical condition and the company’s continuing programme of repair, refurbishment and maintenance.
Based on this assessment, the director considers that the depreciable amount of the freehold buildings is not material. This judgement is reviewed annually and depreciation will be recognised if the estimated residual value falls materially below the carrying amount.
Recoverability of amounts owed by the parent undertaking
At 31 July 2025, the company was owed £1,501,203 by Saddlebrook (Holdings) Limited.
The balance arose principally when the company settled deferred consideration payable by Saddlebrook in connection with its acquisition of shares in the company from a former shareholder.
Saddlebrook is a holding company whose principal asset is its investment in the company. Accordingly, its ability to repay the balance is dependent principally upon the value of that investment and cash flows generated through future dividends, refinancing or the realisation of its investment.
In assessing recoverability, the director considered the carrying value and underlying value of Saddlebrook’s investment, the company’s current and forecast profitability, distributable reserves, forecast cash flows and the expected timing of repayment. Based on that assessment, the director considers the balance to be recoverable and no impairment provision has been recognised.
2.5.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods and services supplied in the ordinary course of business, net of discounts, rebates and value added tax.
Sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the customer, normally at the point of sale.
Membership subscriptions
Income from golf, leisure and spa memberships is recognised on a straight-line basis over the period to which the membership relates. Amounts received in advance are recognised as deferred income and released to profit and loss over the membership term.
Provision of services
Revenue from services, including use of golf facilities, fitness and spa services, and other leisure activities, is recognised in the period in which the services are provided.
Events and functions
Revenue from functions, weddings and corporate events is recognised when the event takes place. Deposits and advance payments received before the event are included in deferred income.
Stage of completion
Where services are provided over time, revenue is recognised by reference to the stage of completion at the reporting date, provided the outcome can be measured reliably. Where the outcome cannot be reliably estimated, revenue is recognised only to the extent that recoverable costs have been incurred.
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
2.6.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost or valuation, less accumulated depreciation and any accumulated impairment losses.
Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to operate in the manner intended by management. Expenditure on repairs and maintenance is recognised in the profit and loss account as incurred. Expenditure that enhances the future economic benefits of an asset beyond its previously assessed standard of performance is capitalised.
Land and buildings are held at revalued amounts, being their fair value at the date of revaluation, less subsequent accumulated depreciation and impairment losses. Revaluations are performed with sufficient regularity to ensure that the carrying amount does not differ materially from the amount that would be determined using fair value at the reporting date.
Any surplus arising on revaluation is recognised in other comprehensive income and accumulated in the revaluation reserve, except to the extent that it reverses a previous revaluation decrease in respect of the same asset that was recognised in profit or loss.
A decrease in carrying amount arising on revaluation is recognised in profit or loss, except to the extent that it reverses a previous revaluation surplus in respect of the same asset, in which case the decrease is recognised in other comprehensive income and reduces the revaluation reserve.
Freehold land is not depreciated.
No depreciation charge has been recognised on freehold buildings where the director considers that the estimated residual value is not materially different from the carrying amount and, consequently, the depreciable amount is not material.
Depreciation is provided on all other tangible fixed assets to write off their cost or valuation, less estimated residual value, over their expected useful economic lives on the following bases:
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
| Computer Equipment |
|
Assets under construction are not depreciated until they are available for use.
The carrying values of tangible fixed assets are reviewed for indicators of impairment at each reporting date. Where there is an indication that an asset may be impaired, the recoverable amount is estimated and any excess of the carrying amount over the recoverable amount is recognised as an impairment loss in the profit and loss account.
The residual values, useful economic lives and depreciation methods are reviewed at each reporting date and adjusted prospectively where appropriate.
On disposal of a tangible fixed asset, the difference between the disposal proceeds and the carrying amount of the asset is recognised in the profit and loss account. Any related balance remaining in the revaluation reserve is transferred directly to retained earnings.
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
2.7.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.8.
Stocks and Work in Progress
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 method. Provision is made for obsolete, damaged and slow-moving stock where appropriate.
2.9.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.10.
Financial Instruments
2.10.
Financial Instruments - continued
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102.
Financial instruments are recognised in the company’s statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and financial liabilities are offset only when there is a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, which is normally the fair value of the consideration given, including transaction costs.
Such assets are subsequently measured at amortised cost using the effective interest method, less any impairment.
At each reporting date, financial assets measured at amortised cost are assessed for objective evidence of impairment. Where there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account.
Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, net of transaction costs.
Such liabilities are subsequently measured at amortised cost using the effective interest method.
Borrowings
...CONTINUED
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
Interest-bearing borrowings, including bank loans, are initially recognised at the proceeds received, net of transaction costs, and are subsequently measured at amortised cost.
Finance costs are recognised in profit or loss using the effective interest method over the term of the borrowing.
2.11.
Interest Receivable
Interest income is recognised using the effective interest method.
2.12.
Interest Payable
Interest expense is recognised using the effective interest method.
2.13.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.14.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
2.15.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3.
Turnover
Analysis of turnover by class of business is as follows:
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Hotel accommodation
|
965,685
|
917,260
|
|
|
Food and beverage
|
1,631,734
|
1,554,839
|
|
|
Functions and venue hire
|
758,591
|
729,064
|
|
|
Spa and health club
|
750,165
|
717,240
|
|
|
Golf memberships and green fees
|
315,510
|
295,463
|
|
|
Golf professional shop
|
101,987
|
88,769
|
|
|
Other income
|
-
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
2,625
|
|
|
4,523,672
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
4,305,260
|
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
4.
Other Operating Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Grant income |
|
|
|
| 26,867 | 25,506 | ||
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
5.
Operating Profit
The operating profit is stated after charging:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Operating lease rentals |
|
|
|
| Depreciation of tangible fixed assets |
|
|
|
6.
Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
| Other Services | |||
| Taxation compliance service |
|
|
|
7.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
8.
Average Number of Employees
Average number of employees, including the director, during the year was: 126 (2024: 139)
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
9.
Director's remuneration
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
The number of directors to whom retirement benefits were accruing was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| Money purchase pension schemes |
|
|
|
10.
Interest Payable and Similar Charges
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Finance charges payable under finance leases and hire purchase contracts | 18,780 | 12,722 | |
| Other finance charges |
|
|
|
| 117,890 | 107,419 | ||
11.
Tax on Profit
The tax charge on the profit for the year was as follows:
| Tax Rate | 2025 | 2024 | |||
|---|---|---|---|---|---|
| 2025 | 2024 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
|
|
| Prior period adjustment |
|
|
|||
|
|
|
||||
| Deferred Tax | |||||
| Deferred taxation |
|
|
|||
| Total tax charge for the period |
|
|
|||
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 424,172 | 315,232 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Goodwill/depreciation not allowed for tax |
|
|
|||
| Expenses not deductible for tax purposes |
|
( |
|||
| Capital allowances |
( |
( |
|||
| Short term timing differences |
|
|
|||
| Prior period adjustment |
|
|
|||
| Difference in tax rates |
|
( |
|||
| Total tax charge for the period | 106,671 | 50,855 | |||
12.
Intangible Assets
| Goodwill | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 August 2024 |
|
||
| As at 31 July 2025 |
|
||
| Amortisation | |||
| As at 1 August 2024 |
|
||
| As at 31 July 2025 |
|
||
| Net Book Value | |||
| As at 31 July 2025 |
|
||
| As at 1 August 2024 |
|
||
13.
Tangible Assets
| Land & Property | ||||
|---|---|---|---|---|
| Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 August 2024 |
|
|
|
|
| Additions |
|
|
|
|
| Disposals |
|
( |
|
( |
| As at 31 July 2025 |
|
|
|
|
| Depreciation | ||||
| As at 1 August 2024 |
|
|
|
|
...CONTINUED
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
| Provided during the period |
|
|
|
|
| Disposals |
|
( |
|
( |
| As at 31 July 2025 |
|
|
|
|
| Net Book Value | ||||
| As at 31 July 2025 |
|
|
|
|
| As at 1 August 2024 |
|
|
|
|
| Computer Equipment | Total | |
|---|---|---|
| £ | £ | |
| Cost | ||
| As at 1 August 2024 |
|
|
| Additions |
|
|
| Disposals |
( |
( |
| As at 31 July 2025 |
|
|
| Depreciation | ||
| As at 1 August 2024 |
|
|
| Provided during the period |
|
|
| Disposals |
( |
( |
| As at 31 July 2025 |
|
|
| Net Book Value | ||
| As at 31 July 2025 |
|
|
| As at 1 August 2024 |
|
|
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Plant & Machinery |
|
|
|
| Motor Vehicles |
|
|
|
|
|
|
||
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
Cost or valuation as at 31 July 2025 represented by:
| Land & Property | ||||
|---|---|---|---|---|
| Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | |
| £ | £ | £ | £ | |
| At cost | 505,663 | 702,833 | 52,168 | 320,039 |
| At valuation | 6,000,000 | - | - | - |
| 6,505,663 | 702,833 | 52,168 | 320,039 | |
| Computer Equipment | Total | |
|---|---|---|
| £ | £ | |
| At cost | 26,792 | 1,607,495 |
| At valuation | - | 6,000,000 |
| 26,792 | 7,607,495 | |
Tangible assets held at valuation
The company’s freehold land and buildings were valued on 27 March 2023 by Fleurets, independent external RICS Registered Valuers. The valuation was undertaken on a market value basis, subject to special assumptions intended to exclude value attributable to the company’s ongoing business operations, trading potential and goodwill. The valuation attributed a fair value of £6,000,000 to the freehold property.
The principal special assumptions underlying the valuation were that:
- the property was available with vacant possession;
- the business had ceased trading;
- accounts and records of trade were unavailable to a prospective purchaser;
- the inventory had been removed; and
- the relevant licences, consents, certificates and permits had been lost or breached.
In determining the valuation, the valuer also had regard to the property’s freehold tenure, location, accessibility, layout, condition and suitability for continued use as a hotel, golf and leisure property.
Since the valuation date, the company has incurred qualifying expenditure of £505,663 on additions and improvements to the freehold property. Accordingly, the carrying amount of the freehold land and buildings at 31 July 2025 was £6,505,663.
The director has considered the company’s trading performance, the condition of the property, subsequent capital expenditure and relevant market factors since the valuation date and is satisfied that the carrying amount at 31 July 2025 is not materially different from fair value. Accordingly, no further revaluation adjustment has been recognised.
Had the freehold land and buildings been measured under the historical-cost model, their carrying amount at 31 July 2025 would have been £5,296,218.
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
14.
Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
|
|
|
15.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
| Other debtors |
|
|
|
| Amounts owed by related parties |
|
|
|
| Director's loan account |
|
|
|
| Amounts owed by group undertakings |
|
|
|
|
|
|
||
| Due after more than one year | |||
| Corporation tax recoverable assets |
|
|
|
|
|
|
||
16.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Amounts owed to group undertakings | - |
|
|
| Other creditors | 165,467 | 207,742 | |
| Corporation tax |
|
|
|
| Taxation and social security | 333,023 | 242,566 | |
| Accruals and deferred income | 638,610 | 616,908 | |
|
|
|
||
Amounts owed to group undertakings have no fixed terms of repayment or interest charged.
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
17.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Bank loans |
|
|
|
| Accruals and deferred income | 60,212 | - | |
|
|
|
||
Of the creditors falling due after more than one year the following amounts are due after more than five years.
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts | 11,775 | - | |
| Bank loans |
|
|
HSBC UK Bank plc holds a legal mortgage over the assets of the company and a first legal mortgage over Bryn Meadows Hotel, The Bryn, Maesycwmmer.
HSBC UK Bank plc also holds the benefit of a composite unlimited multilateral guarantee dated 28 October 2011 given by Bryn Meadows Golf & Country Club Limited, Eatfresh Wales Limited and Mayo Dining Limited.
HSBC UK Bank plc holds a fixed and floating charge over the assets and undertaking of the company, both present and future, dated 28 October 2011.
DBW Investments (10) Limited holds a fixed and floating charge over the assets of the company.
The bank loans are repayable over terms ranging from 48 to 180 months and are subject to interest at rates ranging from 2.5% to 4.5% above the Bank of England base rate.
18.
Loans
An analysis of the maturity of loans is given below:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due within one year or on demand: | |||
| Bank loans |
|
|
|
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due between one and five years: | |||
| Bank loans |
|
|
|
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due after more than five years: | |||
| Bank loans |
|
|
|
19.
Obligations Under Finance Leases and Hire Purchase
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
| Later than five years |
|
|
|
|
|
|
||
|
|
|
||
20.
Deferred Taxation
The provision for deferred tax is made up as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Accelerated capital allowances |
|
|
|
| Post employment benefits |
( |
( |
|
|
|
|
||
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
22.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
|
|
|
||
23.
Pension Commitments
During the year the charge to the profit and loss account in respect of defined contribution schemes was £83,269 (2024: £75,551).
At 31 July 2025, pension contributions of £6,842 were outstanding and included within other creditors (2024: £6,521). The outstanding amounts arose from normal payroll timing and were paid after the year end.
24.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at 1 August 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 July 2025 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Gary Mayo |
|
|
( |
- |
|
The above loan is unsecured, interest free and repayable on demand.
25.
Dividends
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
|
|
|
The dividends paid during the year amounted to £1,350 per ordinary share (2024: £nil).
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
26.
Reserves
| Revaluation reserve | Profit and Loss Account | |
|---|---|---|
| £ | £ | |
| As at 1 August 2024 |
|
|
| Profit for the year and total comprehensive income | - |
|
| Dividends paid | - | (135,000) |
| As at 31 July 2025 |
|
|
Revaluation reserve - this reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income.
Profit and loss account - this reserve records retained earnings and accumulated losses.
27.
Related Party Disclosures
27.
Related Party Disclosures - continued
Saddlebrook (Holdings) Limited
Saddlebrook (Holdings) Limited owns 50% of the issued share capital of the company and is considered to be the company’s parent undertaking by virtue of the control it exercises over the company.
During the year, the company settled deferred consideration payable by Saddlebrook (Holdings) Limited in connection with Saddlebrook’s acquisition of shares in the company from a former shareholder. The amount settled on behalf of Saddlebrook was £1,425,000.
At 31 July 2025, £1,501,203 was owed to the company by Saddlebrook (Holdings) Limited (2024: £1,547) owed by the company to Saddlebrook (Holdings) Limited).
The balance is unsecured, interest-free and has no fixed repayment date and is therefore repayable on demand. The directors expect the balance to be settled progressively through future dividend distributions by the company to Saddlebrook (Holdings) Limited, which will be credited against the outstanding balance.
Based on the company’s historic profitability, available distributable reserves and expected future dividend capacity, the directors consider the balance to be fully recoverable. Accordingly, no impairment provision has been recognised at 31 July 2025.
Mayo Property Developments Limited
Mayo Property Developments Limited is a related party by virtue of common control.
At 31 July 2025, £206,500 was owed to the company by Mayo Property Developments Limited (2024: £202,547).
The balance is unsecured, interest-free and has no fixed repayment date and is therefore repayable on demand.
The directors expect the balance to be settled through a proposed tripartite intercompany arrangement involving the company, Mayo Property Developments Limited and Saddlebrook (Holdings) Limited. Under the proposed arrangement, an amount owed by Saddlebrook (Holdings) Limited to Mayo Property Developments Limited would be applied in settlement of the amount due to the company.
...CONTINUED
Bryn Meadows Golf & Country Club Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2025
The proposed arrangement had not been legally completed at 31 July 2025. Accordingly, the amount remains recognised as due from Mayo Property Developments Limited at the reporting date.
Based on the amount owed by Saddlebrook (Holdings) Limited to Mayo Property Developments Limited and the directors’ intention to implement the proposed arrangement, the directors consider the balance to be recoverable in full. No impairment provision has therefore been recognised.
28.
Controlling Parties
The company’s immediate parent undertaking is Saddlebrook (Holdings) Limited. Mr G Mayo is regarded by the director as the ultimate controlling party by virtue of his direct and indirect shareholdings and the voting rights attaching to those interests.