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No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
05657825
2023-01-01
2023-12-31
05657825
2023-12-31
05657825
2022-12-31
05657825
2022-01-01
2022-12-31
05657825
2022-12-31
05657825
2021-12-31
05657825
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-01-01
2023-12-31
05657825
bus:Director2
2023-01-01
2023-12-31
05657825
core:WithinOneYear
2023-12-31
05657825
core:WithinOneYear
2022-12-31
05657825
core:AfterOneYear
2023-12-31
05657825
core:AfterOneYear
2022-12-31
05657825
core:ShareCapital
2023-12-31
05657825
core:ShareCapital
2022-12-31
05657825
core:RetainedEarningsAccumulatedLosses
2023-12-31
05657825
core:RetainedEarningsAccumulatedLosses
2022-12-31
05657825
bus:SmallEntities
2023-01-01
2023-12-31
05657825
bus:AuditExempt-NoAccountantsReport
2023-01-01
2023-12-31
05657825
bus:SmallCompaniesRegimeForAccounts
2023-01-01
2023-12-31
05657825
bus:PrivateLimitedCompanyLtd
2023-01-01
2023-12-31
05657825
bus:AbridgedAccounts
2023-01-01
2023-12-31
05657825
core:MotorVehicles
2023-01-01
2023-12-31
05657825
core:ComputerEquipment
2023-01-01
2023-12-31
COMPANY REGISTRATION NUMBER:
05657825
SWING OUT SISTER GOLF LIMITED |
|
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS |
|
SWING OUT SISTER GOLF LIMITED |
|
ABRIDGED STATEMENT OF FINANCIAL POSITION |
|
31 December 2023
Fixed assets
Tangible assets |
5 |
|
82,543 |
84,834 |
|
|
|
|
|
Current assets
Stocks |
248,603 |
|
149,831 |
Debtors |
178,146 |
|
222,903 |
|
---------- |
|
---------- |
|
426,749 |
|
372,734 |
|
|
|
|
Creditors: amounts falling due within one year |
(
396,499) |
|
(
384,002) |
|
---------- |
|
---------- |
Net current assets/(liabilities) |
|
30,250 |
(
11,268) |
|
|
---------- |
--------- |
Total assets less current liabilities |
|
112,793 |
73,566 |
|
|
|
|
Creditors: amounts falling due after more than one year |
|
(
15,240) |
(
13,733) |
|
|
---------- |
--------- |
Net assets |
|
97,553 |
59,833 |
|
|
---------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
97,453 |
59,733 |
|
|
--------- |
--------- |
Shareholders funds |
|
97,553 |
59,833 |
|
|
--------- |
--------- |
|
|
|
|
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31st December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31st December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
SWING OUT SISTER GOLF LIMITED |
|
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued) |
|
31 December 2023
These abridged financial statements were approved by the
board of directors
and authorised for issue on
1 August 2024
, and are signed on behalf of the board by:
Company registration number:
05657825
SWING OUT SISTER GOLF LIMITED |
|
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS |
|
YEAR ENDED 31st DECEMBER 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 West Dalling, Rocks Lane, High Hurstwood, East Sussex, TH22 4BN.
2.
Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows below.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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:
|
Freehold property |
- |
2% straight line |
|
Motor Vehicles |
- |
5 years
|
|
Equipment |
- |
4 years
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2022:
3
).
5.
Tangible assets
|
£ |
Cost |
|
At 1st January 2023 |
102,047 |
Additions |
4,891 |
|
---------- |
At 31st December 2023 |
106,938 |
|
---------- |
Depreciation |
|
At 1st January 2023 |
17,213 |
Charge for the year |
7,182 |
|
---------- |
At 31st December 2023 |
24,395 |
|
---------- |
Carrying amount |
|
At 31st December 2023 |
82,543 |
|
---------- |
At 31st December 2022 |
84,834 |
|
---------- |
|
|