REGISTERED NUMBER: |
Unaudited Financial Statements for the Period 1 March 2023 to 31 December 2023 |
for |
Top 100 Golf Travel Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Period 1 March 2023 to 31 December 2023 |
for |
Top 100 Golf Travel Ltd |
Top 100 Golf Travel Ltd (Registered number: SC723250) |
Contents of the Financial Statements |
for the Period 1 March 2023 to 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Top 100 Golf Travel Ltd |
Company Information |
for the Period 1 March 2023 to 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
25 Castle Terrace |
Edinburgh |
EH1 2ER |
Top 100 Golf Travel Ltd (Registered number: SC723250) |
Balance Sheet |
31 December 2023 |
2023 | 2023 |
28 February |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
Top 100 Golf Travel Ltd (Registered number: SC723250) |
Balance Sheet - continued |
31 December 2023 |
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 |
Top 100 Golf Travel Ltd (Registered number: SC723250) |
Notes to the Financial Statements |
for the Period 1 March 2023 to 31 December 2023 |
1. | STATUTORY INFORMATION |
Top 100 Golf Travel Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
This is the second year of trading which is a 10 month period to align the accounts to the end of the golfing season. As expected tour bookings improved significantly due to it being a full season of activity. As a result the balance sheet deficit has reversed and now shows reserves of £47,578 (PY: deficit £32,577) at the year end. Advance booking and deposits for tours are strong for the forthcoming year and the reserves should continue to grow. The accounts are prepared on a going concern basis as the director expects to see continued strong results and sufficient funds available to meet day to day needs as they arise. |
Turnover |
Turnover relates to Golf Tours both in the UK and abroad. Income is measured on an accrual basis at the fair value of the consideration received or receivable, net of any discounts, rebates and value added tax where applicable.These events are subject to the Tour Operators Margin Scheme with value added tax being accounted for on the margins achieved rather than total income and at the point the tour begins. |
Golf Tour income is recognised when the tour takes place. Receipts and costs relating to future events are treated as deferred income and expenses in line with the contractual obligations and legal entitlement to recognize the income. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Taxation |
Taxation for the period 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. |
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 period 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. |
Top 100 Golf Travel Ltd (Registered number: SC723250) |
Notes to the Financial Statements - continued |
for the Period 1 March 2023 to 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
Additions |
At 31 December 2023 |
AMORTISATION |
Charge for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
28 February |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
Other debtors includes tour expenses that have been paid in advance and deferred to future periods. These are reversed when the tour takes place. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
28 February |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Other creditors represent deposits received and advance receipts relating to future tours which are recognised as income at the point the tour takes place. |
Top 100 Golf Travel Ltd (Registered number: SC723250) |
Notes to the Financial Statements - continued |
for the Period 1 March 2023 to 31 December 2023 |
7. | RELATED PARTY DISCLOSURES |
Included in creditors is an amount of £147,851 (PY: £52,338) of loan financing advanced by other group companies. These debts are interest free, unsecured and repayable on demand. |
8. | ULTIMATE CONTROLLING PARTY |
Top 100 Golf Travel Ltd. is a wholly owned subsidiary of Top 100 Golf BV a company situated in the Netherlands. |