IRIS Accounts Production v24.2.0.383 05340239 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053402392023-03-31053402392024-03-31053402392023-04-012024-03-31053402392022-03-31053402392022-04-012023-03-31053402392023-03-3105340239ns15:EnglandWales2023-04-012024-03-3105340239ns14:PoundSterling2023-04-012024-03-3105340239ns10:Director12023-04-012024-03-3105340239ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3105340239ns10:SmallEntities2023-04-012024-03-3105340239ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3105340239ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3105340239ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105340239ns10:FullAccounts2023-04-012024-03-3105340239ns10:Director22023-04-012024-03-3105340239ns10:Director32023-04-012024-03-3105340239ns10:RegisteredOffice2023-04-012024-03-3105340239ns5:CurrentFinancialInstruments2024-03-3105340239ns5:CurrentFinancialInstruments2023-03-3105340239ns5:ShareCapital2024-03-3105340239ns5:ShareCapital2023-03-3105340239ns5:SharePremium2024-03-3105340239ns5:SharePremium2023-03-3105340239ns5:RetainedEarningsAccumulatedLosses2024-03-3105340239ns5:RetainedEarningsAccumulatedLosses2023-03-3105340239ns5:PlantMachinery2023-04-012024-03-3105340239ns5:ComputerEquipment2023-04-012024-03-3105340239ns5:PlantMachinery2023-03-3105340239ns5:ComputerEquipment2023-03-3105340239ns5:PlantMachinery2024-03-3105340239ns5:ComputerEquipment2024-03-3105340239ns5:PlantMachinery2023-03-3105340239ns5:ComputerEquipment2023-03-3105340239ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3105340239ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 05340239 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PROFESSIONAL GOLF EUROPE LIMITED

PROFESSIONAL GOLF EUROPE LIMITED (REGISTERED NUMBER: 05340239)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

PROFESSIONAL GOLF EUROPE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: G N Webb
P A Lord
J P Webb





REGISTERED OFFICE: 1 Golden Burn Walk
St Eval
Cornwall
PL27 7FY





REGISTERED NUMBER: 05340239 (England and Wales)





ACCOUNTANTS: D.R.E. & Co. Limited
Chartered Accountants
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL

PROFESSIONAL GOLF EUROPE LIMITED (REGISTERED NUMBER: 05340239)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 33,711 43,785

CURRENT ASSETS
Stocks 379,857 704,523
Debtors 6 153,603 177,699
Cash at bank and in hand 178,029 270,354
711,489 1,152,576
CREDITORS
Amounts falling due within one year 7 193,050 291,197
NET CURRENT ASSETS 518,439 861,379
TOTAL ASSETS LESS CURRENT
LIABILITIES

552,150

905,164

PROVISIONS FOR LIABILITIES 930 1,225
NET ASSETS 551,220 903,939

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Share premium - 404,730
Retained earnings 549,220 497,209
SHAREHOLDERS' FUNDS 551,220 903,939

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PROFESSIONAL GOLF EUROPE LIMITED (REGISTERED NUMBER: 05340239)

BALANCE SHEET - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





P A Lord - Director


PROFESSIONAL GOLF EUROPE LIMITED (REGISTERED NUMBER: 05340239)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Professional Golf Europe 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention. The accounts have been prepared on a going concern basis.

The financial statements are presented in Sterling (£) rounded to the nearest £1.

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 - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.


PROFESSIONAL GOLF EUROPE LIMITED (REGISTERED NUMBER: 05340239)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2023 117,915 8,745 126,660
Additions 5,448 - 5,448
Disposals (13,933 ) - (13,933 )
At 31 March 2024 109,430 8,745 118,175
DEPRECIATION
At 1 April 2023 74,357 8,518 82,875
Charge for year 8,409 151 8,560
Eliminated on disposal (6,971 ) - (6,971 )
At 31 March 2024 75,795 8,669 84,464
NET BOOK VALUE
At 31 March 2024 33,635 76 33,711
At 31 March 2023 43,558 227 43,785

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 150,768 174,199
Prepayments 2,835 3,500
153,603 177,699

PROFESSIONAL GOLF EUROPE LIMITED (REGISTERED NUMBER: 05340239)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 110,226 206,167
Tax 25,535 23,529
Social security and other taxes 440 786
VAT 14,359 14,064
Other creditors 39,906 35,998
Directors' current accounts 709 38
Accrued expenses 1,875 10,615
193,050 291,197

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PROFESSIONAL GOLF EUROPE LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Professional Golf Europe Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Professional Golf Europe Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Professional Golf Europe Limited and state those matters that we have agreed to state to the Board of Directors of Professional Golf Europe Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Professional Golf Europe Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Professional Golf Europe Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Professional Golf Europe Limited. You consider that Professional Golf Europe Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Professional Golf Europe Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






D.R.E. & Co. Limited
Chartered Accountants
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL


23 September 2024