Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr N Yeo 04/04/2012 03 November 2023 The principal activity of the company during the financial year was the retail of sports goods. 08019030 2023-03-31 08019030 bus:Director1 2023-03-31 08019030 2022-03-31 08019030 core:CurrentFinancialInstruments 2023-03-31 08019030 core:CurrentFinancialInstruments 2022-03-31 08019030 core:Non-currentFinancialInstruments 2023-03-31 08019030 core:Non-currentFinancialInstruments 2022-03-31 08019030 core:ShareCapital 2023-03-31 08019030 core:ShareCapital 2022-03-31 08019030 core:RetainedEarningsAccumulatedLosses 2023-03-31 08019030 core:RetainedEarningsAccumulatedLosses 2022-03-31 08019030 core:ComputerSoftware 2022-03-31 08019030 core:ComputerSoftware 2023-03-31 08019030 core:Vehicles 2022-03-31 08019030 core:FurnitureFittings 2022-03-31 08019030 core:OfficeEquipment 2022-03-31 08019030 core:Vehicles 2023-03-31 08019030 core:FurnitureFittings 2023-03-31 08019030 core:OfficeEquipment 2023-03-31 08019030 bus:OrdinaryShareClass1 2023-03-31 08019030 bus:OrdinaryShareClass2 2023-03-31 08019030 bus:OrdinaryShareClass3 2023-03-31 08019030 2022-04-01 2023-03-31 08019030 bus:FullAccounts 2022-04-01 2023-03-31 08019030 bus:SmallEntities 2022-04-01 2023-03-31 08019030 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08019030 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08019030 bus:Director1 2022-04-01 2023-03-31 08019030 core:ComputerSoftware core:TopRangeValue 2022-04-01 2023-03-31 08019030 core:Vehicles 2022-04-01 2023-03-31 08019030 core:FurnitureFittings core:TopRangeValue 2022-04-01 2023-03-31 08019030 core:OfficeEquipment core:TopRangeValue 2022-04-01 2023-03-31 08019030 2021-04-01 2022-03-31 08019030 core:ComputerSoftware 2022-04-01 2023-03-31 08019030 core:FurnitureFittings 2022-04-01 2023-03-31 08019030 core:OfficeEquipment 2022-04-01 2023-03-31 08019030 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 08019030 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08019030 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 08019030 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 08019030 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 08019030 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 08019030 bus:OrdinaryShareClass3 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08019030 (England and Wales)

GOLF STORE PRO LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

GOLF STORE PRO LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

GOLF STORE PRO LIMITED

BALANCE SHEET

As at 31 March 2023
GOLF STORE PRO LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 168 392
Tangible assets 4 21,321 28,527
21,489 28,919
Current assets
Stocks 15,000 16,400
Debtors 5 37,005 31,677
Cash at bank and in hand 75,297 128,261
127,302 176,338
Creditors: amounts falling due within one year 6 ( 43,434) ( 57,766)
Net current assets 83,868 118,572
Total assets less current liabilities 105,357 147,491
Creditors: amounts falling due after more than one year 7 ( 42,943) ( 60,494)
Provision for liabilities ( 4,083) ( 5,537)
Net assets 58,331 81,460
Capital and reserves
Called-up share capital 8 102 102
Profit and loss account 58,229 81,358
Total shareholder's funds 58,331 81,460

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Golf Store Pro Limited (registered number: 08019030) were approved and authorised for issue by the Director on 03 November 2023. They were signed on its behalf by:

Mr N Yeo
Director
GOLF STORE PRO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
GOLF STORE PRO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Golf Store Pro Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 5 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Computer software Total
£ £
Cost
At 01 April 2022 1,120 1,120
At 31 March 2023 1,120 1,120
Accumulated amortisation
At 01 April 2022 728 728
Charge for the financial year 224 224
At 31 March 2023 952 952
Net book value
At 31 March 2023 168 168
At 31 March 2022 392 392

4. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 April 2022 50,315 678 1,719 52,712
At 31 March 2023 50,315 678 1,719 52,712
Accumulated depreciation
At 01 April 2022 22,013 546 1,626 24,185
Charge for the financial year 7,076 37 93 7,206
At 31 March 2023 29,089 583 1,719 31,391
Net book value
At 31 March 2023 21,226 95 0 21,321
At 31 March 2022 28,302 132 93 28,527

5. Debtors

2023 2022
£ £
Trade debtors 85 0
Other debtors 36,920 31,677
37,005 31,677

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 4,814 6,913
Taxation and social security 11,208 12,955
Obligations under finance leases and hire purchase contracts 6,626 6,626
Other creditors 20,786 31,272
43,434 57,766

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts (secured) 22,183 28,809
Other creditors 20,760 31,685
42,943 60,494

The finance contract is secured on assets in the Company with a carrying value of £21,227 (2022: £ 28,302).

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 A ordinary share of £ 1.00 1 1
1 B ordinary share of £ 1.00 1 1
100 Ordinary shares of £ 1.00 each 100 100
102 102

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Directors Loan Account 35,180 30,755

On the Directors Loan Account, interest was charged at 2%. This balance was repaid within 9 months of the year end.