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REGISTERED NUMBER: 03160760 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2023

FOR

GOLFWISE LIMITED

GOLFWISE LIMITED (REGISTERED NUMBER: 03160760)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GOLFWISE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2023







DIRECTOR: D I Bugg





REGISTERED OFFICE: c/o CBHC Ltd, Steeple House
Suite 3, First Floor
Church Lane
Chelmsford
Essex
CM1 1NH





REGISTERED NUMBER: 03160760 (England and Wales)





ACCOUNTANTS: CBHC Limited
Suite 3, Steeple House
Church Lane
Chelmsford
Essex
CM1 1NH

GOLFWISE LIMITED (REGISTERED NUMBER: 03160760)

BALANCE SHEET
30TH SEPTEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 28,587 5,935
Investments 5 - 853,358
28,587 859,293

CURRENT ASSETS
Debtors 6 1,861,484 1,862,724
Cash at bank 2,894 16,398
1,864,378 1,879,122
CREDITORS
Amounts falling due within one year 7 (1,083,293 ) (1,064,642 )
NET CURRENT ASSETS 781,085 814,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

809,672

1,673,773

CREDITORS
Amounts falling due after more than one year 8 (32,668 ) (26,667 )

PROVISIONS FOR LIABILITIES (3,605 ) (259 )
NET ASSETS 773,399 1,646,847

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 773,299 1,646,747
SHAREHOLDERS' FUNDS 773,399 1,646,847

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

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

The director acknowledges his 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.

GOLFWISE LIMITED (REGISTERED NUMBER: 03160760)

BALANCE SHEET - continued
30TH SEPTEMBER 2023


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 director and authorised for issue on 9th April 2024 and were signed by:





D I Bugg - Director


GOLFWISE LIMITED (REGISTERED NUMBER: 03160760)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023


1. STATUTORY INFORMATION

Golfwise Limited 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.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GOLFWISE LIMITED (REGISTERED NUMBER: 03160760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Golf Motor Computer
equipment Equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1st October 2022 9,000 28,378 65,457 408 103,243
Additions - 1,260 32,128 - 33,388
At 30th September 2023 9,000 29,638 97,585 408 136,631
DEPRECIATION
At 1st October 2022 9,000 24,258 63,642 408 97,308
Charge for year - 2,250 8,486 - 10,736
At 30th September 2023 9,000 26,508 72,128 408 108,044
NET BOOK VALUE
At 30th September 2023 - 3,130 25,457 - 28,587
At 30th September 2022 - 4,120 1,815 - 5,935

5. FIXED ASSET INVESTMENTS
Interest
in
associate
undertaking
£   
COST
At 1st October 2022 853,358
Disposals (853,358 )
At 30th September 2023 -
NET BOOK VALUE
At 30th September 2023 -
At 30th September 2022 853,358

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,750 17,333
Other debtors 1,845,734 1,845,391
1,861,484 1,862,724

GOLFWISE LIMITED (REGISTERED NUMBER: 03160760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,803 10,000
Hire purchase contracts 6,615 -
Taxation and social security 17,931 28,726
Other creditors 1,047,944 1,025,916
1,083,293 1,064,642

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,864 26,667
Hire purchase contracts 16,804 -
32,668 26,667

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date the director was owed by the company £222,572 (2022: £252,734).

10. RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed £298,608 (2022: £300,308) to Hall Lane Golf Limited, £305,259 (2022: £276,809) to Croydon Golf Limited, £83,020 (2022: £89,320) to Foot Golf Wise Limited, and £57,733 (2022: £19,320) to Golfwise Properties Limited, £245 (2022: £245) to Golfwise Enterprises Limited. and £20,303 (2022: £17,644 debtor) to The Notleys Golf Club Limited.

As at the balance sheet date the company was owed £1,570,117 (2022: £1,565,117) from Palewell Golf & Tennis Limited, £0 (2022: £3,400) from Chatham Golf Limited, £13,000 (2022: £13,000) from Daromi Land LLP, £500 (2022: £400) from Footgolf Crazy Limited and £109,568 (2022: £107,018) from Golfplay Limited.

11. ULTIMATE CONTROLLING PARTY

The director, D Bugg is the ultimate controlling party of the company.