ACCOUNTS - Final Accounts preparation

Registered number: 03384177

PARKFIELD GOLF LTD

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2025

PARKFIELD GOLF LTD

REGISTERED NUMBER:03384177

STATEMENT OF FINANCIAL POSITION

AS AT 30 NOVEMBER 2025

		2025		2024
Note		£		£

FIXED ASSETS
Tangible assets	4		746,046		891,153
			746,046		891,153
CURRENT ASSETS
Debtors: amounts falling due within one year	5	13,060		3,657
Cash at bank and in hand	6	42,222		27,409
		55,282		31,066
Creditors: amounts falling due within one year	7	(959,116)		(1,057,623)
NET CURRENT LIABILITIES			(903,834)		(1,026,557)
TOTAL ASSETS LESS CURRENT LIABILITIES			(157,788)		(135,404)
Creditors: amounts falling due after more than one year	8		-		(2,526)

NET LIABILITIES			(157,788)		(137,930)

CAPITAL AND RESERVES
Called up share capital	10	106,666	106,666
Capital redemption reserve	11	53,334	53,334
Profit and loss account	11	(317,788)	(297,930)
		(157,788)	(137,930)

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 July 2026.

A J Harvey

Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

PARKFIELD GOLF LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

1.	GENERAL INFORMATION

Parkfield Golf Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19 Common Road, Hanham, Bristol, BS15 3LL.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view..

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Harvey Commercial Holdings Limited as at 30 November 2025 and these financial statements may be obtained from Companies House.

2.3

GOING CONCERN

The Company is dependent upon the support of its Parent and fellow Group Companies. The Directors believe that the Company will continue to receive the necessary support. On this basis, the Directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of support from its Parent and fellow Group Companies.

2.4

TURNOVER

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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PARKFIELD GOLF LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.5

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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PARKFIELD GOLF LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.8

TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following basis.

				Land and buildings	-	2%	Straight line basis - Land and car park not depreciated
				Plant and equipment	-	25%	Straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.12

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.13

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

PARKFIELD GOLF LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

EMPLOYEES

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Total	3	3

4.	TANGIBLE FIXED ASSETS

	Land and buildings	Plant and equipment	Total
	£	£	£
COST
At 1 December 2024	896,004	124,587	1,020,591
Additions	-	9,450	9,450
Transfers intra group	(136,080)	-	(136,080)
At 30 November 2025	759,924	134,037	893,961
DEPRECIATION
At 1 December 2024	22,452	106,986	129,438
Charge for the year	933	17,544	18,477
At 30 November 2025	23,385	124,530	147,915
NET BOOK VALUE
At 30 November 2025	736,539	9,507	746,046
At 30 November 2024	873,552	17,601	891,153

DEBTORS

					2025	2024
					£	£


Trade debtors	1,502	1,807
Amounts owed by group undertakings	4,652	10
Other debtors	295	1,196
Prepayments and accrued income	4,311	-
Deferred taxation	2,300	644
	13,060	3,657

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PARKFIELD GOLF LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

5.DEBTORS (CONTINUED)

Amounts owed by group undertakings are unsecured, interest free, have no fixed repayment date and are repayable on demand.

6.	CASH AND CASH EQUIVALENTS
		2025	2024
		£	£

Cash at bank and in hand	42,222	27,409
	42,222	27,409

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Trade creditors	13,952	15,398
Amounts owed to group undertakings	886,425	999,229
Other taxation and social security	10,948	17,507
Obligations under finance lease and hire purchase contracts	2,526	-
Other creditors	11,826	25,489
Accruals and deferred income	33,439	-
	959,116	1,057,623

Amounts owed to group undertakings are unsecured, interest free, have no fixed repayment date and are repayable on demand.

Included within Other creditors are amounts owed in relation to a hire purchase contract which is secured against the underlying asset purchased with payments due to April 2026, interest is charged at a rate of 10.87%.

8.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		2025	2024
		£	£

Net obligations under finance leases and hire purchase contracts	-	2,526
	-	2,526

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PARKFIELD GOLF LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

9.	DEFERRED TAXATION

		2025
		£

	At beginning of year	644
	Charged to profit or loss	1,656
	AT END OF YEAR	2,300

The deferred tax asset is made up as follows:
	2025	2024
	£	£

Fixed asset timing differences	2,220	620
Short term timing differences	80	24
	2,300	644

10.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

106,666 (2024:106,666) Ordinary Shares shares of £1.00 each	106,666	106,666

11.

RESERVES

Capital redemption reserve

The capital redemption reserve represents a statutory reserve created following the purchase of the company's own shares out of distributable profits.

Called up share capital

Called up share capital represents the issued and fully paid up equity share capital of the company.

Profit and loss account

The profit and loss account represents cumulative profits, losses and total other recognised gains or losses made by the company including distributions to, and contributions from, the parent company.

Page 7

PARKFIELD GOLF LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

12.	PENSION COMMITMENTS

The Company participates in a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension charge amounted to £1,390 (2024: £1,088). Contributions outstanding at the year end amounted to £637 (2024: £226) and are included within other creditors.

13.GUARANTEES AND OTHER FINANCIAL COMMITMENTS

There is a Cross Guarantee and Debenture between Dearborn Estates Limited, Harvey Shopfitters Limited, Huntswood Park Limited, Hyde House Hotel Limited, Kin House Limited, Millbridge Court Limited, Parkfield Golf Limited and Veya Homes Limited dated 11 December 2023.

As at 30 November 2025, the total amounts of these guarantees were £6,964,876 (2024: £6,877,579).

14.	RELATED PARTY TRANSACTIONS
	As the company is a wholly owned subsidiary of Harvey Commercial Holdings Limited, the Company is able to take advantage of the exemption under the terms of FRS 102 section 33.1a from disclosing related party transactions with wholly owned entities that are part of the group.

15.	CONTROLLING PARTY

The immediate parent company is Dearborn Estates Limited, a company registered in England and Wales, whose registered office is 19 Common Road, Hanham, Bristol, BS15 3LL.

The parent undertaking of the smallest and largest group of undertakings for which group financial statements are prepared of which the Company is a member is Harvey Commercial Holdings Limited which is registered in England and Wales. Copies of Harvey Commercial Holdings Limited financial statements can be obtained from the Company's registered office, 19 Common Road, Hanham, Bristol, England, BS15 3LL.

The ultimate controlling party is considered to be A J Harvey based upon his majority shareholding of Harvey Commercial Holdings Limited.

16.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 30 November 2025 was unqualified.

The audit report was signed on 28 July 2026 by Simon Morrison FCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

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