Caseware UK (AP4) 2025.0.111 2025.0.111 2026-03-31 2026-03-31 false false 2025-04-01 false The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.The principal activity of the company is letting and operating of owned or leased real estate.6 6 true 03056116 2025-04-01 2026-03-31 03056116 2024-04-01 2025-03-31 03056116 2026-03-31 03056116 2025-03-31 03056116 c:Director6 2025-04-01 2026-03-31 03056116 d:OtherPropertyPlantEquipment 2026-03-31 03056116 d:OtherPropertyPlantEquipment 2025-03-31 03056116 d:FreeholdInvestmentProperty 2026-03-31 03056116 d:FreeholdInvestmentProperty 2025-03-31 03056116 d:CurrentFinancialInstruments 2026-03-31 03056116 d:CurrentFinancialInstruments 2025-03-31 03056116 d:CurrentFinancialInstruments d:WithinOneYear 2026-03-31 03056116 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 03056116 d:ShareCapital 2026-03-31 03056116 d:ShareCapital 2025-03-31 03056116 d:RevaluationReserve 2026-03-31 03056116 d:RevaluationReserve 2025-03-31 03056116 d:RetainedEarningsAccumulatedLosses 2026-03-31 03056116 d:RetainedEarningsAccumulatedLosses 2025-03-31 03056116 d:AcceleratedTaxDepreciationDeferredTax 2026-03-31 03056116 d:AcceleratedTaxDepreciationDeferredTax 2025-03-31 03056116 c:FRS102 2025-04-01 2026-03-31 03056116 c:AuditExempt-NoAccountantsReport 2025-04-01 2026-03-31 03056116 c:FullAccounts 2025-04-01 2026-03-31 03056116 c:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 03056116 2 2025-04-01 2026-03-31 03056116 5 2025-04-01 2026-03-31 03056116 e:PoundSterling 2025-04-01 2026-03-31 iso4217:GBP xbrli:pure

Registered number: 03056116
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 MARCH 2026
| WOODHALL SPA ESTATE MANAGEMENT COMPANY LIMITED
WOODHALL SPA ESTATE MANAGEMENT COMPANY LIMITED REGISTERED NUMBER:03056116 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2026
|  | 2026 |  | 2025
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 875,000 |  | 875,000
Investment property | 5 |  | 2,275,000 |  | 2,275,000
|  |  | 3,150,000 |  | 3,150,000
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 48,395 |  | 50,592 |
Cash at bank and in hand | 7 | 449,316 |  | 405,119 |
|  | 497,711 |  | 455,711 |
Creditors: amounts falling due within one year | 8 | (40,179) |  | (42,933) |
Net current assets |  |  | 457,532 |  | 412,778
Total assets less current liabilities |  |  | 3,607,532 |  | 3,562,778
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (12,871) |  | (12,871) |
|  |  | (12,871) |  | (12,871)
Net assets |  |  | 3,594,661 |  | 3,549,907
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 6,500,001 |  | 6,500,001
Revaluation reserve |  |  | 50,220 |  | 50,220
Profit and loss account |  |  | (2,955,560) |  | (3,000,314)
|  |  | 3,594,661 |  | 3,549,907
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. 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 income and retained earnings 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 22 July 2026. Page 1
WOODHALL SPA ESTATE MANAGEMENT COMPANY LIMITED REGISTERED NUMBER:03056116 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2026
Mr A J Sibley
Director
The notes on pages 3 to 9 form part of these financial statements. Page 2
WOODHALL SPA ESTATE MANAGEMENT COMPANY LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
1. | General information
The principal activity of the company is letting and operating of owned or leased real estate. 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 following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 3
WOODHALL SPA ESTATE MANAGEMENT COMPANY LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.4 | 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.
| 2.5 | 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. The assets are not depreciated as they are predominantly land and kept in a good state of repair such that any depreciation would not be material. 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. Page 4
WOODHALL SPA ESTATE MANAGEMENT COMPANY LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.6 | Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.7 | Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.8 | 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.
| 2.9 | 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.
| 2.10 | 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.
| 2.11 | 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. Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation. Increases in provisions are generally charged as an expense to profit or loss. Page 5
WOODHALL SPA ESTATE MANAGEMENT COMPANY LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
3. | Employees
| The average monthly number of employees, including directors, during the year was 6 (2025 - 6).
4. | Tangible fixed assets
|  | Other fixed assets
|  | £
| Cost or valuation |
| At 1 April 2025 | 875,000
| At 31 March 2026 | 875,000
| Net book value |
| At 31 March 2026 | 875,000
| At 31 March 2025 | 875,000
| Land is carried at valuation. If land was measured using the cost model, the carrying amounts would have been approximately £6,835,645 (2025: £6,835,645), being cost £6,835,645 (2025: £ 6,835,645) and depreciation £Nil (2025: £Nil). The golf courses were revalued at October 2020 by Messrs Savills Chartered Surveyors and Valuers on an open market basis. No depreciation is provided in respect of these properties. The golf courses are normally valued professionally every five years, although they are reviewed by the Directors annually. The Board had intended to obtain an updated valuation during the year. However, as the Clubhouse redevelopment was in progress, the Boards considered that a valuation undertaken before completion of the project would not provide a meaningful reflection of the value. Accordingly, the valuation has been deferred until completion of the redevelopment, which is expected by September 2027. The Board has considered whether the carrying value of the golf courses remains appropriate and is satisfied that there has been no material change since the October 2020 valuation that would require an adjustment to the carrying amount at the balance sheet date. Up to the year ended 31 October 2013 the golf courses were included in the company's financial statements at their cost price of £6,835,645. An exceptional item was disclosed in the company's financial statements for the period 1 November 2013 to 31 March 2015 following receipt of the valuation report from Savills. This exceptional charge was in the sum of £6,145,645 being the difference between the original cost (£6,835,645) and the valuation at that time (£690,000). Included within the net book value of land above is £875,000 (2025: £875,000) in respect of freehold land.
Page 6
WOODHALL SPA ESTATE MANAGEMENT COMPANY LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
5. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 April 2025 | 2,275,000
| At 31 March 2026 | 2,275,000
Investment Properties The investment properties were valued by Messrs Savills, Chartered Surveyors and Valuers, on an open market basis as at October 2020. No depreciation is provided in respect of these properties. Up to the year ended 31 October 2013, the investment properties were carried at cost of £3,283,988. Following receipt of the Savills valuation, an exceptional impairment charge of £885,988 was recognised in the financial statements for the period from 1 November 2013 to 31 March 2015, representing the difference between the original cost and the valuation of £2,398,000 at that date. The Board had intended to obtain an updated valuation during the year. However, as the Clubhouse redevelopment was in progress, the Board considered that a valuation undertaken before completion of the project would not provide a meaningful reflection of the property's value. Accordingly, the valuation has been deferred until completion of the redevelopment, which is expected by September 2027. The Board has considered whether the carrying value of the investment properties remains appropriate and is satisfied that there has been no material change since the October 2020 valuation that would require an adjustment to the carrying amount at the balance sheet date.
6. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade debtors | 10,098 | 12,274
| Amounts owed by group undertakings | 32,940 | 32,113
| Prepayments and accrued income | 5,357 | 6,205
|  | 48,395 | 50,592
Page 7
WOODHALL SPA ESTATE MANAGEMENT COMPANY LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
7. | Cash and cash equivalents
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Cash at bank and in hand | 449,316 | 405,119
|  | 449,316 | 405,119
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade creditors | 5,240 | 2,802
| Corporation tax | 13,946 | 16,665
| Other taxation and social security | 1,308 | 1,520
| Other creditors | 2,469 | 2,469
| Accruals and deferred income | 17,216 | 19,477
|  | 40,179 | 42,933
| At 31 March 2026 deferred government grants totalled £2,668 (2025: £2,668). During the course of the year ended 31 March 2017 the company undertook a project to refurbish the "Tower on the Moor" which is located adjacent to the 3rd hole on the Hotchkin Course at Woodhall Spa. This building, which is the emblem of Woodhall Spa, is the fragmentary ruin of a much larger 15th century structure with only the North-West stair tower remaining. The Tower is listed by Historic England (since 1985) and is considered to be of special architectural and historical interest. The refurbishment project was undertaken by a team of specialist architects and contractors and is intended to ensure that the Tower is preserved for future generations. The company had committed to the project at 31 March 2016 and this was reported in the financial statements of the company for that year. In the year to 31 March 2017 the repair costs incurred by the company totalled £105,717 with the value of the grant received from Historic England being £83,536. The project was fully completed in the year to 31 March 2017 and no work has been undertaken on The Tower up until 2025. The costs incurred since then include further repairs to The Tower 2026: £345 (2025: £1,778). No further grant funding has been received since the original amount in the year to 31 March 2017.
9. | Deferred taxation
|  | 2026
|  | £
| At beginning of year | (12,871)
| At end of year | (12,871)
Page 8
WOODHALL SPA ESTATE MANAGEMENT COMPANY LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 9.Deferred taxation (continued)
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Accelerated capital allowances | (12,871) | (12,871)
|  | (12,871) | (12,871)
10. | Controlling party
The company's immediate parent is Woodhall Spa Land Holdings Limited, incorporated in England and Wales.
Page 9