GOLF ENVIRONMENTAL (UK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2017
PAGES FOR FILING WITH REGISTRAR
Company Registration No. 09283260 (England and Wales)
GOLF ENVIRONMENTAL (UK) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
GOLF ENVIRONMENTAL (UK) LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2017
31 October 2017
- 1 -
2017
2016
Notes
£
£
£
£
Current assets
Debtors
3
776,618
619,979
Cash at bank and in hand
10,232
3,557
786,850
623,536
Creditors: amounts falling due within one year
4
(531,709)
(511,161)
Net current assets
255,141
112,375
Creditors: amounts falling due after more than one year
5
(74,803)
(47,503)
Net assets
180,338
64,872
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
180,238
64,772
Total equity
180,338
64,872

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board of directors and authorised for issue on 13 November 2018 and are signed on its behalf by:
Avril Nevin
Director
Company Registration No. 09283260
GOLF ENVIRONMENTAL (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2017
- 2 -
1
Accounting policies
Company information

Golf Environmental (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.4
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

GOLF ENVIRONMENTAL (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2017
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2016 - 2).

3
Debtors
2017
2016
Amounts falling due within one year:
£
£
Other debtors
776,618
619,979
4
Creditors: amounts falling due within one year
2017
2016
£
£
Corporation tax
44,009
16,193
Other taxation and social security
52,078
11,883
Other creditors
435,622
483,085
531,709
511,161
5
Creditors: amounts falling due after more than one year
2017
2016
£
£
Other creditors
74,803
47,503

Included in other creditors are loans totalling £74,803 (2016: £47,503) which are wholly repayable within 5 years.

6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of 10p each
100
100
100
100
7
Related party transactions

Included in other creditors is a balanced owed to Stockley Park Golf Club Limited of £214,700 (2016: £241,852)

2017-10-312016-11-01falseCCH SoftwareCCH Accounts Production 2018.220No description of principal activity13 November 2018David BadhamAvril Nevin092832602016-11-012017-10-31092832602017-10-3109283260core:CurrentFinancialInstruments2017-10-3109283260core:CurrentFinancialInstruments2016-10-31092832602016-10-3109283260core:Non-currentFinancialInstruments2017-10-3109283260core:Non-currentFinancialInstruments2016-10-3109283260core:ShareCapital2017-10-3109283260core:ShareCapital2016-10-3109283260core:RetainedEarningsAccumulatedLosses2017-10-3109283260core:RetainedEarningsAccumulatedLosses2016-10-3109283260core:ShareCapitalOrdinaryShares2017-10-3109283260core:ShareCapitalOrdinaryShares2016-10-3109283260bus:Director22016-11-012017-10-310928326012016-11-012017-10-3109283260bus:OrdinaryShareClass12016-11-012017-10-3109283260bus:OrdinaryShareClass12017-10-3109283260bus:PrivateLimitedCompanyLtd2016-11-012017-10-3109283260bus:FRS1022016-11-012017-10-3109283260bus:AuditExemptWithAccountantsReport2016-11-012017-10-3109283260bus:SmallCompaniesRegimeForAccounts2016-11-012017-10-3109283260bus:Director12016-11-012017-10-3109283260bus:FullAccounts2016-11-012017-10-31xbrli:purexbrli:sharesiso4217:GBP