| REGISTERED NUMBER: |
| ADDINGTON PALACE GOLF CLUB LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2026 |
| REGISTERED NUMBER: |
| ADDINGTON PALACE GOLF CLUB LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2026 |
| ADDINGTON PALACE GOLF CLUB LIMITED (REGISTERED NUMBER: 00496901) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 May 2026 |
| Page |
| Company information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 4 |
| Chartered accountants' report | 8 |
| ADDINGTON PALACE GOLF CLUB LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 May 2026 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 3rd Floor, Imperial House |
| 21 - 25 North Street |
| Bromley |
| Kent |
| BR1 1SD |
| ADDINGTON PALACE GOLF CLUB LIMITED (REGISTERED NUMBER: 00496901) |
| BALANCE SHEET |
| 31 May 2026 |
| 2026 | 2025 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 |
| NET ASSETS |
| RESERVES |
| Revaluation reserve | 10 |
| General reserve | 10 |
| Income and expenditure account | 10 |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| ADDINGTON PALACE GOLF CLUB LIMITED (REGISTERED NUMBER: 00496901) |
| BALANCE SHEET - continued |
| 31 May 2026 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ADDINGTON PALACE GOLF CLUB LIMITED (REGISTERED NUMBER: 00496901) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 May 2026 |
| 1. | STATUTORY INFORMATION |
| Addington Palace Golf Club Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The club offers loan notes to their members which helps support the club financially year on year. This support will continue for the foreseeable and based on this, at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months from the signing date of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Motor vehicle | 20.0% | on cost |
| Furniture and club house equipment | 10.0% | on cost |
| Course machinery & kitchen equipment | 12.5% | on cost |
| Course plant & buildings | 8.5% | on cost |
| Borehole etc. | 5.0% | on cost |
| Clubhouse improvements | 8.5% | on cost |
| Computer equipment | 33.33% | on cost |
| Watering system | 3.33% | on cost |
| Leasehold - one third of the 999 year lease amortised over 50 years | on value |
| A full year of depreciation is recognised in the year of acquisition and none in the year of disposal. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the |
| carrying value of the asset, and is credited or charged to profit or loss. |
| Revaluation of fixed assets |
| Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value. |
| Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity, such gains and losses are recognised in profit or loss. |
| ADDINGTON PALACE GOLF CLUB LIMITED (REGISTERED NUMBER: 00496901) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2026 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Long | Clubhouse | Course | Furniture |
| leasehold | improvements | equipment | & equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 June 2025 |
| Additions |
| At 31 May 2026 |
| DEPRECIATION |
| At 1 June 2025 |
| Charge for year |
| At 31 May 2026 |
| NET BOOK VALUE |
| At 31 May 2026 |
| At 31 May 2025 |
| The leasehold land and buildings were valued by Sanderson Weatherall at open market value on 14 February 2020 at £2,540,000. The Directors consider there to have been no change in market value of the land and buildings since the valuation. |
| 5. | STOCKS |
| 2026 | 2025 |
| £ | £ |
| Stocks |
| ADDINGTON PALACE GOLF CLUB LIMITED (REGISTERED NUMBER: 00496901) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2026 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Corporation tax recoverable |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Subscription loan notes | 156,058 | 157,058 |
| Non interest bearing A & B loan notes entitle the holders to subscription relief of £1.50 p.a. and £1.75 p.a. respectively for each £25. |
| They are repayable after 6 months notice given to, or by, the company. |
| Loan Notes C, D & E are repayable at six months notice either way after the first 3 years. |
| Loan Notes C entitle the holders to a reduction of £5 per annum on their subscription per £100 held. |
| Loan Notes D are interest bearing at 1/4% above Base Rate after deduction of Standard Rate Tax. |
| Loan Notes E are interest free. |
| Security on the bank loan is in the form of a fixed charge over the leasehold and buildings held at Addington Palace Golf Club. |
| The hire purchase obligations noted above are secured against the assets to which they relate. |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Bank loans - 1-2 years |
| Hire purchase contracts (see note 9) |
| Subscription & membership |
| loan notes | 180,000 | 180,000 |
| The Loan Notes "F" are not repayable in the first 6 years and give interest of 3.5% or 4% either as a reduction in subscriptions or as a payment. |
| Security on the bank loan is in the form of a first charge over the leasehold and buildings held at Addington Palace Golf Club. |
| The hire purchase obligations noted above are secured against the assets to which they relate. |
| ADDINGTON PALACE GOLF CLUB LIMITED (REGISTERED NUMBER: 00496901) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2026 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2026 | 2025 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2026 | 2025 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | RESERVES |
| Income |
| and |
| expenditure | Revaluation | General |
| account | reserve | reserve | Totals |
| £ | £ | £ | £ |
| At 1 June 2025 | 1,553,516 |
| Surplus for the year |
| At 31 May 2026 | 1,637,246 |
| General reserve |
| Funds originally set aside for specifically designated purposes in 1995. |
| Income and expenditure account |
| Cumulative surpluses and deficits to date. |
| Revaluation reserve |
| The cumulative revaluation gains and losses in respect of land and buildings, except revaluation gains and losses recognised in profit or loss. |
| 11. | LIABILITY OF MEMBERS |
| In the event the Club is wound up, the liability of members shall not exceed £5. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| ADDINGTON PALACE GOLF CLUB LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Addington Palace Golf Club Limited for the year ended 31 May 2026 which comprise the Income statement, Balance sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Addington Palace Golf Club Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Addington Palace Golf Club Limited and state those matters that we have agreed to state to the Board of Directors of Addington Palace Golf Club Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Addington Palace Golf Club Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Addington Palace Golf Club Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Addington Palace Golf Club Limited. You consider that Addington Palace Golf Club Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Addington Palace Golf Club Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 3rd Floor, Imperial House |
| 21 - 25 North Street |
| Bromley |
| Kent |
| BR1 1SD |