2023-01-012023-12-312023-12-31false03609834EDEN GOLF CENTRE 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EDEN GOLF CENTRE LIMITED

Registered Number
03609834
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

EDEN GOLF CENTRE LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

WANNOP, Alistair George Milne
WANNOP, Julie Christine
WANNOP, Margot Shaw

Company Secretary

WANNOP, Julie Christine

Registered Address

Eden Golf Course
Crosby On Eden
Carlisle
CA6 4RA

Registered Number

03609834 (England and Wales)
EDEN GOLF CENTRE LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets311
Tangible assets4877,460894,395
877,461894,396
Current assets
Stocks58,63710,000
Debtors6115,01395,583
Cash at bank and on hand29,847616
153,497106,199
Creditors amounts falling due within one year7(1,525,521)(1,377,977)
Net current assets (liabilities)(1,372,024)(1,271,778)
Total assets less current liabilities(494,563)(377,382)
Creditors amounts falling due after one year8(7,273)(10,623)
Net assets(501,836)(388,005)
Capital and reserves
Called up share capital44
Profit and loss account(501,840)(388,009)
Shareholders' funds(501,836)(388,005)
The financial statements were approved and authorised for issue by the Board of Directors on 23 October 2024, and are signed on its behalf by:
WANNOP, Alistair George Milne
Director
WANNOP, Julie Christine
Director

Registered Company No. 03609834
EDEN GOLF CENTRE LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Going concern
These accounts have been prepared on the going concern basis despite the fact that total liabilities exceed total assets by £501,836 (2022 - £388,004). The company is dependent upon the support of the bank and the directors. The directors believe that the going concern basis continues to be appropriate.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery5-
Fixtures and fittings15-
Office Equipment-3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
2.Average number of employees

20232022
Average number of employees during the year1010
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 January 2311
At 31 December 2311
Net book value
At 31 December 2311
At 31 December 2211
4.Tangible fixed assets

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 January 231,226,27327,1965,3221,258,791
Additions-2,800-2,800
At 31 December 231,226,27329,9965,3221,261,591
Depreciation and impairment
At 01 January 23358,3402,2523,804364,396
Charge for year17,4801,37687919,735
At 31 December 23375,8203,6284,683384,131
Net book value
At 31 December 23850,45326,368639877,460
At 31 December 22867,93324,9441,518894,395
5.Stocks

2023

2022

££
Finished goods8,63710,000
Total8,63710,000
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables9603,120
Other debtors94,62887,246
Prepayments and accrued income19,4255,217
Total115,01395,583
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables23,28029,652
Bank borrowings and overdrafts-4,021
Taxation and social security6,4974,493
Finance lease and HP contracts3,0512,857
Other creditors1,335,6621,212,840
Accrued liabilities and deferred income157,031124,114
Total1,525,5211,377,977
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The bank loan and overdraft are secured upon property personally owned by the directors as well as by a floating charge over the company's assets. The net obligations under hire purchase contracts are secured by the company on the assets to which the agreement relate.
8.Creditors: amounts due after one year

2023

2022

££
Other creditors7,27310,623
Total7,27310,623
Finance lease and HP contracts equal to £7,273 (2023 - £10,623) are included within other creditors and are secured against the assets to which they relate.
9.Secured creditors
The net obligations under hire purchase contracts are secured by the company on the assets to which the agreements relate.
10.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts7,27310,623
11.Provisions for liabilities
The provision for deferred tax is made up of £6,752 in respect of accelerated capital allowances less £86,442 in respect of losses.
12.Pension commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £1,056 (2022- £947) were due to the fund. They are included in other creditors.
13.Operating lease commitments
At 31 December 2023 the company had future minimum lease payments under non-cancellable operating leases of £26,867 (2022 - £43,693).
14.Related party transactions
At 1 January 2023 the company owed the directors £2,791. During the year the company received advances of £224,524 and made repayments of £226,861. At 31 December 2023 the company owed the directors £454. The loan is unsecured, interest free and repayable on demand.