Registered number
07865991
RISEBRIDGE GOLF LTD.
Filleted Accounts
29 November 2022
RISEBRIDGE GOLF LTD.
Registered number: 07865991
Balance Sheet
as at 29 November 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 231,855 182,332
Current assets
Stocks 8,000 10,000
Debtors 4 55,617 42,227
Cash at bank and in hand 288,992 245,715
352,609 297,942
Creditors: amounts falling due within one year 5 (551,686) (317,055)
Net current liabilities (199,077) (19,113)
Total assets less current liabilities 32,778 163,219
Creditors: amounts falling due after more than one year 6 (16,306) (41,059)
Net assets 16,472 122,160
Capital and reserves
Called up share capital 120,265 120,265
Profit and loss account (103,793) 1,895
Shareholders' funds 16,472 122,160
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ricky Tester
Director
Approved by the board on 28 November 2023
RISEBRIDGE GOLF LTD.
Notes to the Accounts
for the period from 1 December 2021 to 29 November 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 10% reducing balance
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 13 13
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2021 55,953 268,675 324,628
Additions - 65,692 65,692
Disposals - (2,250) (2,250)
At 29 November 2022 55,953 332,117 388,070
Depreciation
At 1 December 2021 12,503 129,793 142,296
Charge for the period 1,253 12,666 13,919
At 29 November 2022 13,756 142,459 156,215
Net book value
At 29 November 2022 42,197 189,658 231,855
At 30 November 2021 43,450 138,882 182,332
4 Debtors 2022 2021
£ £
Trade debtors - (40)
Other debtors 55,617 42,267
55,617 42,227
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 216,858 97,422
Obligations under finance lease and hire purchase contracts (9,946) 8,676
Trade creditors 144,326 93,833
Taxation and social security costs 110,951 43,539
Other creditors 89,497 73,585
551,686 317,055
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 47,059 -
Obligations under finance lease and hire purchase contracts (103,441) 20,559
Other creditors 20,000 -
Director's account 52,688 20,500
16,306 41,059
7 Controlling party
The ultimate controlling party during the period; Andrew Price
Andrew Price has significant influence or control
8 Other information
RISEBRIDGE GOLF LTD. is a private company limited by shares and incorporated in England. Its registered office is:
Risebridge Golf Centre
Lower Bedfords Road
Risebridge Chase
Romford
RM1 4DG
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