REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Sun Golf Ski Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Sun Golf Ski Limited |
Sun Golf Ski Limited (Registered number: 11064510) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Sun Golf Ski Limited |
Company Information |
for the Year Ended 31 March 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
4 Cedar Park |
Cobham Road |
Ferndown Industrial Estate |
Wimborne |
Dorset |
BH21 7SF |
Sun Golf Ski Limited (Registered number: 11064510) |
Abridged Statement of Financial Position |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 5 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
Sun Golf Ski Limited (Registered number: 11064510) |
Abridged Statement of Financial Position - continued |
31 March 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Sun Golf Ski Limited (Registered number: 11064510) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Sun Golf Ski Limited is a |
2. | ACCOUNTING POLICIES |
Basis of 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 |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
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 tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Sun Golf Ski Limited (Registered number: 11064510) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. |
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 Profit and Loss Account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
2023 | 2022 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 635 |
Sun Golf Ski Limited (Registered number: 11064510) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
6. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Other loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 635 |
7. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
The above lease payments are due in respect of refinancing of office equipment. |
Sun Golf Ski Limited (Registered number: 11064510) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
8. | OTHER FINANCIAL COMMITMENTS |
The company had bank loan commitments in respect of a government bounce back loan at the financial period end totalling £15,553 (prior year - £19,044). The company also had other commercial loans outstanding at the financial period end totalling £13,940 (prior year - £16,754). |
The company had commitments in respect of hire purchase contracts at the financial period end totalling £28,054 (prior year - £36,161). The company also had commitments in respect of operating lease contracts at the financial period end totalling £2,111 (prior year - £3,317). |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the year ended 31 March 2023 and the period ended 31 March 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Loans with the director are unsecured, interest free and repayable on demand. |
10. | RELATED PARTY DISCLOSURES |
"Park Realty Group Limited" invoiced "Sun Golf Ski Limited" £1,400 (2022 - £5,833) during the financial period for expenses incurred on the company's behalf. At the financial period end, "Park Realty Group Limited" was owed £320 (2022 - £22,920) from "Sun Golf Ski Limited" in respect of outstanding sales invoices. These are included within debtors. |
"Sun Golf Ski Limited" recharged "Park Realty Group Limited" £27,875 (2022 - £24,209) during the financial period for expenses incurred on the company's behalf as well £4,167 (2022 - £10,000) for consultancy fees. "Park Realty Group Limited" owed £Nil (2022 - £22,050) to "Sun Golf Ski Limited" in respect of outstanding purchase invoices. These are included within creditors. |
"Park Realty Group Limited" provided a series of loans to "Sun Golf Ski Limited" totalling £22,194 (2022 - £66,801). The loans were repaid in full during the financial year. "Sun Golf Ski Limited" provided a loan balance of £2,083 to "Park Realty Group Limited" during the financial year and this remained outstanding at the financial year end (2022 - £8,894 owed to) No interest is charged on loan balances and loans are repayable on demand. The loan is included in Debtors (2022 - Creditors). The loan was repaid on 3rd April 2023. |
"Park Realty Group Limited" and "Sun Golf Ski Limited" are companies in which J Dove is a director and holds a beneficial interest. |
T Dove also received rent from "Sun Golf Ski Limited" during the financial period totalling £4,120 (2022 - £6,157) in relation to rental of premises abroad. T Dove is the spouse of the director, J Dove. The rent is included in the profit and loss. |