Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30000false32022-05-01The company's principal activity is that of providing handicap and score tracking service.3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06053533 2022-05-01 2023-04-30 06053533 2021-05-01 2022-04-30 06053533 2023-04-30 06053533 2022-04-30 06053533 2021-05-01 06053533 c:Director1 2022-05-01 2023-04-30 06053533 d:Buildings d:LongLeaseholdAssets 2022-05-01 2023-04-30 06053533 d:OfficeEquipment 2022-05-01 2023-04-30 06053533 d:OfficeEquipment 2023-04-30 06053533 d:OfficeEquipment 2022-04-30 06053533 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 06053533 d:ComputerEquipment 2022-05-01 2023-04-30 06053533 d:ComputerEquipment 2023-04-30 06053533 d:ComputerEquipment 2022-04-30 06053533 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 06053533 d:OtherPropertyPlantEquipment 2022-05-01 2023-04-30 06053533 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 06053533 d:PatentsTrademarksLicencesConcessionsSimilar 2022-05-01 2023-04-30 06053533 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-05-01 2023-04-30 06053533 d:Goodwill 2022-05-01 2023-04-30 06053533 d:ComputerSoftware 2023-04-30 06053533 d:ComputerSoftware 2022-04-30 06053533 d:CurrentFinancialInstruments 2023-04-30 06053533 d:CurrentFinancialInstruments 2022-04-30 06053533 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 06053533 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 06053533 d:ShareCapital 2023-04-30 06053533 d:ShareCapital 2022-04-30 06053533 d:ShareCapital 2021-05-01 06053533 d:SharePremium 2023-04-30 06053533 d:SharePremium 2022-04-30 06053533 d:SharePremium 2021-05-01 06053533 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 06053533 d:RetainedEarningsAccumulatedLosses 2023-04-30 06053533 d:RetainedEarningsAccumulatedLosses 2021-05-01 2022-04-30 06053533 d:RetainedEarningsAccumulatedLosses 2022-04-30 06053533 d:RetainedEarningsAccumulatedLosses 2021-05-01 06053533 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 06053533 d:AcceleratedTaxDepreciationDeferredTax 2022-04-30 06053533 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 06053533 d:TaxLossesCarry-forwardsDeferredTax 2022-04-30 06053533 c:FRS102 2022-05-01 2023-04-30 06053533 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 06053533 c:FullAccounts 2022-05-01 2023-04-30 06053533 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 06053533 2 2022-05-01 2023-04-30 06053533 d:ComputerSoftware d:OwnedIntangibleAssets 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 06053533









GOLFSHAKE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
GOLFSHAKE LIMITED
REGISTERED NUMBER: 06053533

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,584
3,660

Tangible assets
 5 
1,494
1,154

  
4,078
4,814

Current assets
  

Debtors: amounts falling due within one year
 6 
46,516
46,871

Cash at bank and in hand
 7 
15,800
11,521

  
62,316
58,392

Creditors: amounts falling due within one year
 8 
(11,839)
(14,804)

Net current assets
  
 
 
50,477
 
 
43,588

Total assets less current liabilities
  
54,555
48,402

  

Net assets
  
54,555
48,402


Capital and reserves
  

Called up share capital 
  
100
100

Share premium account
  
199,900
199,900

Profit and loss account
  
(145,445)
(151,598)

  
54,555
48,402


Page 1

 
GOLFSHAKE LIMITED
REGISTERED NUMBER: 06053533
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2023

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 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 5 October 2023.


D G Ramowski
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 2

 
GOLFSHAKE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 May 2021
100
199,900
(182,775)
17,225


Comprehensive income for the year

Profit for the year
-
-
31,177
31,177



At 1 May 2022
100
199,900
(151,598)
48,402


Comprehensive income for the year

Profit for the year
-
-
6,153
6,153


At 30 April 2023
100
199,900
(145,445)
54,555


The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Golfshake Limited is a private company limited by shares, incorporated in England and Wales, registration number 06053533. The registered office is located at Minton Place, Victoria Street, Windsor, Berkshire, SL4 1EG.

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

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 4

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

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

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Domain Names
-
10 years on a straight line basis
Development expenditure
-
5-10 years on a straight line basis
Goodwill
-
5 years on a straight line basis

 
2.6

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 5

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.6
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 straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%
Computer equipment
-
20%
Other fixed assets
-
20%

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 6

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Page 7

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.11

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.


3.


Employees

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


        2023
        2022
            No.
            No.







Administrative
3
3

Page 8

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Intangible assets




Computer software

£



Cost


At 1 May 2022
16,996



At 30 April 2023

16,996



Amortisation


At 1 May 2022
13,336


Charge for the year on owned assets
1,076



At 30 April 2023

14,412



Net book value



At 30 April 2023
2,584



At 30 April 2022
3,660



Page 9

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 May 2022
1,060
7,086
8,146


Additions
284
678
962



At 30 April 2023

1,344
7,764
9,108



Depreciation


At 1 May 2022
475
6,517
6,992


Charge for the year on owned assets
241
381
622



At 30 April 2023

716
6,898
7,614



Net book value



At 30 April 2023
628
866
1,494



At 30 April 2022
585
569
1,154


6.


Debtors

2023
2022
£
£


Trade debtors
19,951
27,447

Other debtors
956
476

Prepayments and accrued income
690
33

Deferred taxation
24,919
18,915

46,516
46,871


Page 10

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
15,800
11,521

15,800
11,521



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,639
7,069

Other taxation and social security
2,965
4,735

Accruals and deferred income
6,235
3,000

11,839
14,804



9.


Deferred taxation




2023


£






At beginning of year
18,915


Charged to profit or loss
6,004



At end of year
24,919

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,019)
(915)

Tax losses carried forward
25,938
19,830

24,919
18,915

Page 11

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

10.


Pension commitments

The Company operates 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 cost charge represents contributions payable by the Company to the fund and amounted to £2,737 (2022: £6,360).


11.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the reporting date.


12.


Related party transactions

During the year, Golfbreaks Limited, a 50% shareholder, paid expenses in the normal course of business of £70,000 (2022: £112,711) on the Company's behalf. The Company made sales of £102,699 (2022: £75,900) to Golfbreaks Limited during the year. The transactions were undertaken on an arms length basis.
As at 30 April 2023 £Nil (2022: £1,800) is included in trade creditors and owed to Golfbreaks Limited, and £Nil (2022: £Nil) is included in trade debtors due from Golfbreaks Limited. Mr G Proddow and Mr M Witt, directors of the Company, are also directors of Golfbreaks Limited.


13.


Controlling party

In the opinion of the directors, there is no single controlling party.

 
Page 12