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COMPANY REGISTRATION NUMBER: 11681857
Simon Garner Golf Ltd
Filleted Unaudited Financial Statements
30 November 2023
Simon Garner Golf Ltd
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
3,454
4,606
Current assets
Stocks
12,000
9,200
Debtors
5
8,332
7,706
Cash at bank and in hand
443
4,007
--------
--------
20,775
20,913
Creditors: amounts falling due within one year
6
45,710
33,540
--------
--------
Net current liabilities
24,935
12,627
--------
--------
Total assets less current liabilities
( 21,481)
( 8,021)
Creditors: amounts falling due after more than one year
7
1,950
3,250
--------
--------
Net liabilities
( 23,431)
( 11,271)
--------
--------
Simon Garner Golf Ltd
Statement of Financial Position (continued)
30 November 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 23,432)
( 11,272)
--------
--------
Shareholders deficit
( 23,431)
( 11,271)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 August 2024 , and are signed on behalf of the board by:
Mr S P Garner
Director
Company registration number: 11681857
Simon Garner Golf Ltd
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Windsor Close, Welwyn, Hertfordshire, AL6 9JZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and firrings
-
25% reducing balance
Leasehold improvements
-
33% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Fixtures and fittings
Leasehold improvements
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
5,657
2,809
8,466
-------
-------
-------
Depreciation
At 1 December 2022
1,051
2,809
3,860
Charge for the year
1,152
1,152
-------
-------
-------
At 30 November 2023
2,203
2,809
5,012
-------
-------
-------
Carrying amount
At 30 November 2023
3,454
3,454
-------
-------
-------
At 30 November 2022
4,606
4,606
-------
-------
-------
5. Debtors
2023
2022
£
£
Other debtors
8,332
7,706
-------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
3,866
4,052
Trade creditors
2,188
2,728
Other creditors
39,656
26,760
--------
--------
45,710
33,540
--------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
1,950
3,250
-------
-------