Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30000false32023-05-01The company's principal activity is that of providing handicap and score tracking service.3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06053533 2023-05-01 2024-04-30 06053533 2022-05-01 2023-04-30 06053533 2024-04-30 06053533 2023-04-30 06053533 2022-05-01 06053533 c:Director1 2023-05-01 2024-04-30 06053533 d:Buildings d:LongLeaseholdAssets 2023-05-01 2024-04-30 06053533 d:OfficeEquipment 2023-05-01 2024-04-30 06053533 d:OfficeEquipment 2024-04-30 06053533 d:OfficeEquipment 2023-04-30 06053533 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06053533 d:ComputerEquipment 2023-05-01 2024-04-30 06053533 d:ComputerEquipment 2024-04-30 06053533 d:ComputerEquipment 2023-04-30 06053533 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06053533 d:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 06053533 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06053533 d:PatentsTrademarksLicencesConcessionsSimilar 2023-05-01 2024-04-30 06053533 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 06053533 d:Goodwill 2023-05-01 2024-04-30 06053533 d:ComputerSoftware 2024-04-30 06053533 d:ComputerSoftware 2023-04-30 06053533 d:CurrentFinancialInstruments 2024-04-30 06053533 d:CurrentFinancialInstruments 2023-04-30 06053533 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 06053533 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 06053533 d:ShareCapital 2024-04-30 06053533 d:ShareCapital 2023-04-30 06053533 d:ShareCapital 2022-05-01 06053533 d:SharePremium 2024-04-30 06053533 d:SharePremium 2023-04-30 06053533 d:SharePremium 2022-05-01 06053533 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 06053533 d:RetainedEarningsAccumulatedLosses 2024-04-30 06053533 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 06053533 d:RetainedEarningsAccumulatedLosses 2023-04-30 06053533 d:RetainedEarningsAccumulatedLosses 2022-05-01 06053533 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 06053533 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 06053533 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 06053533 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 06053533 c:FRS102 2023-05-01 2024-04-30 06053533 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06053533 c:FullAccounts 2023-05-01 2024-04-30 06053533 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06053533 2 2023-05-01 2024-04-30 06053533 d:ComputerSoftware d:OwnedIntangibleAssets 2023-05-01 2024-04-30 06053533 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 06053533









GOLFSHAKE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
GOLFSHAKE LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GOLFSHAKE LIMITED
FOR THE YEAR ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Golfshake Limited for the year ended 30 April 2024 which comprise  the Statement of Financial Position, the 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Golfshake Limited, as a body, in accordance with the terms of our engagement letter dated 5 September 2022Our work has been undertaken solely to prepare for your approval the financial statements of Golfshake Limited and state those matters that we have agreed to state to the Board of Directors of Golfshake Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Golfshake Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Golfshake 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 loss of Golfshake Limited. You consider that Golfshake Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Golfshake 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.

  



White Hart Associates (London) Limited
 
Chartered Accountants and Statutory Auditors
  
2nd Floor, Nucleus House
2 Lower Mortlake Road
Richmond
TW9 2JA
5 August 2024
Page 1

 
GOLFSHAKE LIMITED
REGISTERED NUMBER: 06053533

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,509
2,584

Tangible assets
 5 
1,563
1,494

  
3,072
4,078

Current assets
  

Debtors: amounts falling due within one year
 6 
47,007
46,516

Cash at bank and in hand
 7 
14,292
15,800

  
61,299
62,316

Creditors: amounts falling due within one year
 8 
(13,869)
(11,839)

Net current assets
  
 
 
47,430
 
 
50,477

Total assets less current liabilities
  
50,502
54,555

  

Net assets
  
50,502
54,555


Capital and reserves
  

Called up share capital 
  
100
100

Share premium account
  
199,900
199,900

Profit and loss account
  
(149,498)
(145,445)

  
50,502
54,555


Page 2

 
GOLFSHAKE LIMITED
REGISTERED NUMBER: 06053533
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 August 2024.


D G Ramowski
Director

The notes on pages 5 to 13 form part of these financial statements.

Page 3

 
GOLFSHAKE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 May 2022
100
199,900
(151,598)
48,402


Comprehensive income for the year

Profit for the year
-
-
6,153
6,153



At 1 May 2023
100
199,900
(145,445)
54,555


Comprehensive income for the year

Loss for the year
-
-
(4,053)
(4,053)


At 30 April 2024
100
199,900
(149,498)
50,502


The notes on pages 5 to 13 form part of these financial statements.

Page 4

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Golfshake Limited is a private company limited by shares, incorporated in England and Wales, registration number 06053533. The registered office is located at Minton Place, Victoria Street, Windsor, Berkshire, SL4 1EG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Domain Names
-
10 years on a straight line basis
Development expenditure
-
5-10 years on a straight line basis
Goodwill
-
5 years on a straight line basis

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 6

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%
Computer equipment
-
20%
Other fixed assets
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 7

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
 
Page 8

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Page 9

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

2024
2023
£
£

Wages and salaries
134,896
128,324

134,896
128,324


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Administrative
3
3


4.


Intangible assets




Computer software

£



Cost


At 1 May 2023
16,996



At 30 April 2024

16,996



Amortisation


At 1 May 2023
14,412


Charge for the year on owned assets
1,075



At 30 April 2024

15,487



Net book value



At 30 April 2024
1,509



At 30 April 2023
2,584



Page 10

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
1,344
7,764
9,108


Additions
-
631
631



At 30 April 2024

1,344
8,395
9,739



Depreciation


At 1 May 2023
716
6,898
7,614


Charge for the year on owned assets
255
307
562



At 30 April 2024

971
7,205
8,176



Net book value



At 30 April 2024
373
1,190
1,563



At 30 April 2023
628
866
1,494


6.


Debtors

2024
2023
£
£


Trade debtors
17,944
19,951

Other debtors
-
956

Prepayments and accrued income
2,794
690

Deferred taxation
26,269
24,919

47,007
46,516


Page 11

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
14,292
15,800

14,292
15,800



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,345
2,639

Other taxation and social security
2,885
2,965

Accruals and deferred income
4,639
6,235

13,869
11,839



9.


Deferred taxation




2024


£






At beginning of year
24,919


Charged to profit or loss
1,350



At end of year
26,269

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(768)
(1,019)

Tax losses carried forward
27,037
25,938

26,269
24,919

Page 12

 
GOLFSHAKE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,737 (2023: £2,737).


11.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the reporting date.


12.


Related party transactions

During the year, Golfbreaks Limited, a 50% shareholder, paid expenses in the normal course of business of £71,250 (2023: £70,000) on the Company's behalf. The Company made sales of £102,327 (2023: £102,699) to Golfbreaks Limited during the year. The transactions were undertaken on an arms length basis.
As at 30 April 2024 £Nil (2023: £Nil) is included in trade creditors and owed to Golfbreaks Limited, and £Nil (2023: £Nil) is included in trade debtors due from Golfbreaks Limited. Mr G Proddow, a director of the Company, is also a director of Golfbreaks Limited.


13.


Controlling party

In the opinion of the directors, there is no single controlling party.

 
Page 13