N I Open Golf Limited NI634829 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is staging golf events Digita Accounts Production Advanced 6.30.9574.0 true true NI634829 2023-01-01 2023-12-31 NI634829 2023-12-31 NI634829 core:RetainedEarningsAccumulatedLosses 2023-12-31 NI634829 core:CurrentFinancialInstruments 2023-12-31 NI634829 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI634829 core:FurnitureFittingsToolsEquipment 2023-12-31 NI634829 bus:SmallEntities 2023-01-01 2023-12-31 NI634829 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI634829 bus:FilletedAccounts 2023-01-01 2023-12-31 NI634829 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI634829 bus:RegisteredOffice 2023-01-01 2023-12-31 NI634829 bus:Director1 2023-01-01 2023-12-31 NI634829 bus:Director2 2023-01-01 2023-12-31 NI634829 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 NI634829 core:FurnitureFittings 2023-01-01 2023-12-31 NI634829 countries:NorthernIreland 2023-01-01 2023-12-31 NI634829 2022-12-31 NI634829 core:FurnitureFittingsToolsEquipment 2022-12-31 NI634829 2022-01-01 2022-12-31 NI634829 2022-12-31 NI634829 core:RetainedEarningsAccumulatedLosses 2022-12-31 NI634829 core:CurrentFinancialInstruments 2022-12-31 NI634829 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: NI634829

N I Open Golf Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

N I Open Golf Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

N I Open Golf Limited

(Registration number: NI634829)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

58,291

122,993

Cash at bank and in hand

 

61,220

182,848

 

119,511

305,841

Creditors: Amounts falling due within one year

6

(133,057)

(311,352)

Net liabilities

 

(13,546)

(5,511)

Reserves

 

Retained earnings

(13,546)

(5,511)

Deficit

 

(13,546)

(5,511)

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 July 2024 and signed on its behalf by:
 

.........................................
Mr Gary Henry
Director

.........................................
Mr Christopher Brooke
Director

 
     
 

N I Open Golf Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a company limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
c/o 51-53 Thomas Street
Ballymena
Co Antrim
BT43 6AZ

These financial statements were authorised for issue by the Board on 2 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency of these financial statements is sterling and all amounts have been rounded to the nearest £1

Going concern

Although the company balance sheet is negative at the year end, Galgorm Castle Estates limited have confirmed that they will continue to underwrite any shortfall in NI Open Golf Limited. The financial statements have therefore been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets and liabilities, income and expenses. the estimaites and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

 

N I Open Golf Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The company assesses at each reporting date whether tangible fixed assets are impaired.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% straight line

trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

N I Open Golf Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

11,679

11,679

At 31 December 2023

11,679

11,679

Depreciation

At 1 January 2023

11,679

11,679

At 31 December 2023

11,679

11,679

Carrying amount

At 31 December 2023

-

-

5

debtors

Current

2023
£

2022
£

Trade debtors

20,400

52,708

Other debtors

37,891

70,285

 

58,291

122,993

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

74,222

279,473

Amounts owed to group undertakings and undertakings in which the company has a participating interest

58,122

25,000

Taxation and social security

 

-

983

Accruals and deferred income

 

650

5,800

Other creditors

 

63

96

 

133,057

311,352