Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.41true2022-06-01falseNo description of principal activity51false 07314988 2022-06-01 2023-05-31 07314988 2021-06-01 2022-05-31 07314988 2023-05-31 07314988 2022-05-31 07314988 c:Director1 2022-06-01 2023-05-31 07314988 d:Buildings 2022-06-01 2023-05-31 07314988 d:Buildings 2023-05-31 07314988 d:Buildings 2022-05-31 07314988 d:Buildings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07314988 d:PlantMachinery 2022-06-01 2023-05-31 07314988 d:PlantMachinery 2023-05-31 07314988 d:PlantMachinery 2022-05-31 07314988 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07314988 d:MotorVehicles 2022-06-01 2023-05-31 07314988 d:MotorVehicles 2023-05-31 07314988 d:MotorVehicles 2022-05-31 07314988 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07314988 d:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 07314988 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07314988 d:Goodwill 2023-05-31 07314988 d:Goodwill 2022-05-31 07314988 d:CurrentFinancialInstruments 2023-05-31 07314988 d:CurrentFinancialInstruments 2022-05-31 07314988 d:Non-currentFinancialInstruments 2023-05-31 07314988 d:Non-currentFinancialInstruments 2022-05-31 07314988 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07314988 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 07314988 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 07314988 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 07314988 d:ShareCapital 2023-05-31 07314988 d:ShareCapital 2022-05-31 07314988 d:RetainedEarningsAccumulatedLosses 2023-05-31 07314988 d:RetainedEarningsAccumulatedLosses 2022-05-31 07314988 c:FRS102 2022-06-01 2023-05-31 07314988 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 07314988 c:FullAccounts 2022-06-01 2023-05-31 07314988 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 07314988 d:Goodwill d:OwnedIntangibleAssets 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 07314988










HALESWORTH GOLF LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
HALESWORTH GOLF LIMITED
REGISTERED NUMBER:07314988

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
100,000
112,500

Tangible assets
 5 
1,759,218
1,788,885

  
1,859,218
1,901,385

Current assets
  

Stocks
  
100,884
77,930

Debtors: amounts falling due within one year
 6 
373,026
364,608

Cash at bank and in hand
  
90,465
494,834

  
564,375
937,372

Creditors: amounts falling due within one year
 7 
(520,145)
(419,949)

Net current assets
  
 
 
44,230
 
 
517,423

Total assets less current liabilities
  
1,903,448
2,418,808

Creditors: amounts falling due after more than one year
 8 
(2,703,320)
(3,403,320)

  

Net liabilities
  
(799,872)
(984,512)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(799,873)
(984,513)

  
(799,872)
(984,512)


Page 1

 
HALESWORTH GOLF LIMITED
REGISTERED NUMBER:07314988
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 income statement 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 by: 




................................................
Mrs L J Hunt
Director

Date: 18 January 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HALESWORTH GOLF LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Halesworth Golf Limited is a private company limited by shares and incorporated in England and Wales, registration number 07314988. The registered office is 33 Cavendish Square, London, England, W1G 0PW

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting polices applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Going concern

The directors believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. The directors have considered a period of twelve months from the date of approval of the financial statements. The directors believe that no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements.

Page 3

 
HALESWORTH GOLF LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover 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 turnover 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.

  
2.4

Intangible assets

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Income Statement over its useful economic life.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
HALESWORTH GOLF LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.6

Taxation

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.

Page 5

 
HALESWORTH GOLF LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.7

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.

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:

Freehold property
-
0% straight line
Plant & machinery
-
33.33% / 20% / 10% straight line
Motor vehicles
-
20% straight line
Freehold property improvements
-
10% straight line

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.

  
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the cost of purchase.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.

 
2.10

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

 
HALESWORTH GOLF LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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 directors, during the year was 51 (2022 - 41).


4.


Intangible assets




Goodwill

£



Cost


At 1 June 2022
250,000



At 31 May 2023

250,000



Amortisation


At 1 June 2022
137,500


Charge for the year on owned assets
12,500



At 31 May 2023

150,000



Net book value



At 31 May 2023
100,000



At 31 May 2022
112,500



Page 7

 
HALESWORTH GOLF LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Tangible fixed assets





Freehold property & improvements
Plant & machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 June 2022
1,620,567
669,073
38,004
2,327,644


Additions
-
39,278
26,800
66,078


Disposals
-
(16,754)
(17,945)
(34,699)



At 31 May 2023

1,620,567
691,597
46,859
2,359,023



Depreciation


At 1 June 2022
62,477
455,258
21,024
538,759


Charge for the year on owned assets
10,112
76,497
7,891
94,500


Disposals
-
(16,705)
(16,749)
(33,454)



At 31 May 2023

72,589
515,050
12,166
599,805



Net book value



At 31 May 2023
1,547,978
176,547
34,693
1,759,218



At 31 May 2022
1,558,090
213,815
16,980
1,788,885


6.


Debtors

2023
2022
£
£


Trade debtors
184,582
146,167

Other debtors
143,995
169,896

Prepayments and accrued income
44,449
48,545

373,026
364,608


Page 8

 
HALESWORTH GOLF LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
142,396
128,911

Other taxation and social security
104,578
82,921

Other creditors
9,947
6,648

Accruals and deferred income
263,224
201,469

520,145
419,949



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
2,703,320
3,403,320

2,703,320
3,403,320



9.


Pension commitments

The company operates a deferred contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The contribution to the scheme amounted to £9,541 (2022: £8,635).


10.


Related party transactions

Included within creditors falling due after more than one year is an interest-free loan of £2,703,320 (2022: £3,403,320) from a director. The loan is repayable on demand but the director has indicated that the funds will not be withdrawn in the next twelve months as a show of commitment to their support for the company.

 
Page 9