Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 05308972 B Burg D Burg 15941 North 77th Street, Suite1, Scottsdale, AZ 85260 true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05308972 2022-12-31 05308972 2023-12-31 05308972 2023-01-01 2023-12-31 05308972 frs-core:CurrentFinancialInstruments 2023-12-31 05308972 frs-core:Non-currentFinancialInstruments 2023-12-31 05308972 frs-core:ComputerEquipment 2023-12-31 05308972 frs-core:ComputerEquipment 2023-01-01 2023-12-31 05308972 frs-core:ComputerEquipment 2022-12-31 05308972 frs-core:FurnitureFittings 2023-12-31 05308972 frs-core:FurnitureFittings 2023-01-01 2023-12-31 05308972 frs-core:FurnitureFittings 2022-12-31 05308972 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 05308972 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 05308972 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 05308972 frs-core:PlantMachinery 2023-12-31 05308972 frs-core:PlantMachinery 2023-01-01 2023-12-31 05308972 frs-core:PlantMachinery 2022-12-31 05308972 frs-core:ShareCapital 2023-12-31 05308972 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 05308972 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05308972 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 05308972 frs-bus:SmallEntities 2023-01-01 2023-12-31 05308972 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05308972 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05308972 1 2023-01-01 2023-12-31 05308972 frs-bus:Director1 2023-01-01 2023-12-31 05308972 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 05308972 frs-countries:EnglandWales 2023-01-01 2023-12-31 05308972 2021-12-31 05308972 2022-12-31 05308972 2022-01-01 2022-12-31 05308972 frs-core:CurrentFinancialInstruments 2022-12-31 05308972 frs-core:Non-currentFinancialInstruments 2022-12-31 05308972 frs-core:WithinOneYear 2022-12-31 05308972 frs-core:ShareCapital 2022-12-31 05308972 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 05308972 frs-core:CurrentFinancialInstruments 2 2022-12-31
Registered number: 05308972
CMC Golf Europe Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05308972
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,759 13,298
13,759 13,298
CURRENT ASSETS
Stocks 5 303,265 290,357
Debtors 6 42,848 108,318
Cash at bank and in hand 184,829 155,064
530,942 553,739
Creditors: Amounts Falling Due Within One Year 7 (251,044 ) (313,060 )
NET CURRENT ASSETS (LIABILITIES) 279,898 240,679
TOTAL ASSETS LESS CURRENT LIABILITIES 293,657 253,977
Creditors: Amounts Falling Due After More Than One Year 8 (14,868 ) (24,743 )
NET ASSETS 278,789 229,234
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 278,689 229,134
SHAREHOLDERS' FUNDS 278,789 229,234
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
B Burg
Director
6 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
CMC Golf Europe Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05308972 . The registered office is The Counting House, 9 High Street, Tring, Hertfordshire, HP23 5TE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 25% straight line
Plant & Machinery 25% straight line
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 5)
6 5
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 18,826 81,361 8,693 16,856 125,736
Additions - 22,736 - 2,026 24,762
Disposals - (5,405 ) - - (5,405 )
As at 31 December 2023 18,826 98,692 8,693 18,882 145,093
Depreciation
As at 1 January 2023 14,963 72,301 8,693 16,481 112,438
Provided during the period 1,288 22,381 - 632 24,301
Disposals - (5,405 ) - - (5,405 )
As at 31 December 2023 16,251 89,277 8,693 17,113 131,334
Net Book Value
As at 31 December 2023 2,575 9,415 - 1,769 13,759
As at 1 January 2023 3,863 9,060 - 375 13,298
5. Stocks
2023 2022
£ £
Stock 303,265 290,357
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 37,540 102,996
Prepayments and accrued income 2,096 2,110
Other debtors 3,212 3,212
42,848 108,318
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 7,366 7,363
Bank loans and overdrafts 10,084 10,099
Other taxes and social security 4,027 6,604
VAT 5,806 31,464
Pension liability - 815
Accruals and deferred income 1,813 5,923
Amounts owed to parent undertaking 221,948 250,792
251,044 313,060
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,868 24,743
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year - 1,881
- 1,881
11. Ultimate Parent Undertaking and Controlling Party
The company's immediate parent undertaking is CMC Design LLC . CMC Design LLC was incorporated in United States of America. Copies of the group accounts may be obtained from the secretary, 15941 North 77th Street, Suite1, Scottsdale, AZ 85260 .
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