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REGISTERED NUMBER: 12138037 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Total Golf Store Ltd

Total Golf Store Ltd (Registered number: 12138037)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

Total Golf Store Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: A Fletcher
B Fletcher
O Fullerton





SECRETARIES: Mrs G Fletcher
Mrs J M Fletcher





REGISTERED OFFICE: The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS





REGISTERED NUMBER: 12138037 (England and Wales)





ACCOUNTANTS: GREGORY WILDMAN
The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS

Total Golf Store Ltd (Registered number: 12138037)

Statement of Financial Position
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 197,002 175,934

CURRENT ASSETS
Stocks 931,697 818,878
Debtors 5 30,028 16,881
Cash at bank and in hand 47,263 180,518
1,008,988 1,016,277
CREDITORS
Amounts falling due within one year 6 1,041,680 1,086,289
NET CURRENT LIABILITIES (32,692 ) (70,012 )
TOTAL ASSETS LESS CURRENT LIABILITIES 164,310 105,922

CREDITORS
Amounts falling due after more than one year 7 (92,091 ) (81,665 )

PROVISIONS FOR LIABILITIES (23,854 ) (14,718 )
NET ASSETS 48,365 9,539

CAPITAL AND RESERVES
Called up share capital 9 300 300
Retained earnings 48,065 9,239
SHAREHOLDERS' FUNDS 48,365 9,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

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 profit or loss 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2023 and were signed on its behalf by:





A Fletcher - Director


Total Golf Store Ltd (Registered number: 12138037)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Total Golf Store Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

Turnover
Turnover is measured at 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:

Sale of goods
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 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 measure reliably.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows:

Short leasehold - over the life of the lease
Improvements to property - over the life of the lease
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on cost
Computer equipment - over 3 years

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 statement of financial position date.

Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Total Golf Store Ltd (Registered number: 12138037)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its employees. Contributions payable are charged to profit and loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 July 2022 9,782 62,664 74,075
Additions - 4,983 3,012
At 30 June 2023 9,782 67,647 77,087
DEPRECIATION
At 1 July 2022 1,760 4,565 18,899
Charge for year 653 5,260 15,255
At 30 June 2023 2,413 9,825 34,154
NET BOOK VALUE
At 30 June 2023 7,369 57,822 42,933
At 30 June 2022 8,022 58,099 55,176

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 49,686 - 11,733 207,940
Additions 4,061 54,053 1,701 67,810
At 30 June 2023 53,747 54,053 13,434 275,750
DEPRECIATION
At 1 July 2022 4,007 - 2,775 32,006
Charge for year 5,344 16,206 4,024 46,742
At 30 June 2023 9,351 16,206 6,799 78,748
NET BOOK VALUE
At 30 June 2023 44,396 37,847 6,635 197,002
At 30 June 2022 45,679 - 8,958 175,934

Total Golf Store Ltd (Registered number: 12138037)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 53,623
At 30 June 2023 53,623
DEPRECIATION
Charge for year 16,171
At 30 June 2023 16,171
NET BOOK VALUE
At 30 June 2023 37,452

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 27,069 11,375
Prepayments 2,959 5,506
30,028 16,881

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 20,000 20,000
Hire purchase contracts (see note 8) 16,270 7,529
Trade creditors 806,422 864,600
Tax 1,147 -
Due to associated company 55,467 52,769
Social security and other taxes 12,580 13,791
VAT 35,225 35,489
Other creditors 66,973 49,520
Accrued expenses 27,596 42,591
1,041,680 1,086,289

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans - 1-5 years 36,667 56,667
Hire purchase contracts (see note 8) 55,424 24,998
92,091 81,665

Total Golf Store Ltd (Registered number: 12138037)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.23 30.6.22
£    £   
Gross obligations repayable:
Within one year 22,119 9,691
Between one and five years 63,743 27,792
85,862 37,483

Finance charges repayable:
Within one year 5,849 2,162
Between one and five years 8,319 2,794
14,168 4,956

Net obligations repayable:
Within one year 16,270 7,529
Between one and five years 55,424 24,998
71,694 32,527

Non-cancellable operating leases
30.6.23 30.6.22
£    £   
Within one year 5,089 5,089
Between one and five years 3,817 8,905
8,906 13,994

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary £1 100 100
100 A £1 100 100
100 B £1 100 100
300 300

10. RELATED PARTY DISCLOSURES

The amount outstanding at the year end due to associated company Total Golf Solutions Limited was £55,467 (2022 - £52,768).

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Total Golf Store Ltd

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 Statement of Financial Position. 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 Total Golf Store Ltd for the year ended 30 June 2023 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity 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 Total Golf Store Ltd, 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 Total Golf Store Ltd and state those matters that we have agreed to state to the Board of Directors of Total Golf Store Ltd, 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 Total Golf Store Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Total Golf Store Ltd 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 Total Golf Store Ltd. You consider that Total Golf Store Ltd 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 Total Golf Store Ltd. 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.






GREGORY WILDMAN
The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS


11 October 2023