Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseNo description of principal activity55falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC261961 2023-02-01 2024-01-31 SC261961 2022-02-01 2023-01-31 SC261961 2024-01-31 SC261961 2023-01-31 SC261961 c:CompanySecretary1 2023-02-01 2024-01-31 SC261961 c:Director1 2023-02-01 2024-01-31 SC261961 c:RegisteredOffice 2023-02-01 2024-01-31 SC261961 d:PlantMachinery 2023-02-01 2024-01-31 SC261961 d:PlantMachinery 2024-01-31 SC261961 d:PlantMachinery 2023-01-31 SC261961 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC261961 d:FurnitureFittings 2023-02-01 2024-01-31 SC261961 d:FurnitureFittings 2024-01-31 SC261961 d:FurnitureFittings 2023-01-31 SC261961 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC261961 d:ComputerEquipment 2023-02-01 2024-01-31 SC261961 d:ComputerEquipment 2024-01-31 SC261961 d:ComputerEquipment 2023-01-31 SC261961 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC261961 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 SC261961 d:CurrentFinancialInstruments 2024-01-31 SC261961 d:CurrentFinancialInstruments 2023-01-31 SC261961 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 SC261961 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 SC261961 d:ShareCapital 2024-01-31 SC261961 d:ShareCapital 2023-01-31 SC261961 d:RetainedEarningsAccumulatedLosses 2024-01-31 SC261961 d:RetainedEarningsAccumulatedLosses 2023-01-31 SC261961 c:OrdinaryShareClass1 2023-02-01 2024-01-31 SC261961 c:OrdinaryShareClass1 2024-01-31 SC261961 c:OrdinaryShareClass1 2023-01-31 SC261961 c:FRS102 2023-02-01 2024-01-31 SC261961 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC261961 c:FullAccounts 2023-02-01 2024-01-31 SC261961 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC261961 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC261961










SANDY SMITH GOLF LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

 
SANDY SMITH GOLF LIMITED
 

COMPANY INFORMATION


Director
Mr A J Smith 




Company secretary
Mrs A L Smith



Registered number
SC261961



Registered office
Ladybank Golf Club

Ladybank

Fife

KY15 7RA




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
SANDY SMITH GOLF LIMITED
REGISTERED NUMBER: SC261961

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
16,607
18,850

  
16,607
18,850

Current assets
  

Stocks
  
27,014
28,826

Debtors: amounts falling due within one year
 5 
3,280
6,492

Cash at bank and in hand
  
25,504
10,875

  
55,798
46,193

Creditors: amounts falling due within one year
 6 
(58,692)
(46,206)

Net current liabilities
  
 
 
(2,894)
 
 
(13)

Total assets less current liabilities
  
13,713
18,837

Provisions for liabilities
  

Deferred tax
  
(3,155)
(3,581)

  
 
 
(3,155)
 
 
(3,581)

Net assets
  
10,558
15,256


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
10,556
15,254

  
10,558
15,256


Page 1

 
SANDY SMITH GOLF LIMITED
REGISTERED NUMBER: SC261961

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 income and retained earnings 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 29 October 2024.




Mr A J Smith
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SANDY SMITH GOLF LIMITED
 

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

1.


General information

The Company is limited by shares and incorporated in Scotland. The address of the registered office is Ladybank Golf Club, Ladybank, Fife, KY15 7RA.
The financial statements are presented in sterling which is the functional currency of the Company and
rounded to the nearest £.

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 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.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover 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 turnover 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.

Page 3

 
SANDY SMITH GOLF LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Pensions

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

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 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.

Page 4

 
SANDY SMITH GOLF LIMITED
 

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

2.Accounting policies (continued)

 
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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.


Plant and machinery
-
10% - 25% Straight Line
Fixtures and fittings
-
10% Reducing Balance
Computer equipment
-
33.33% Straight Line

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

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, 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 profit or loss.

 
2.8

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.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
SANDY SMITH GOLF LIMITED
 

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

3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2023
35,084
9,516
8,936
53,536


Additions
1,090
-
-
1,090



At 31 January 2024

36,174
9,516
8,936
54,626



Depreciation


At 1 February 2023
19,186
8,226
7,274
34,686


Charge for the year on owned assets
1,901
129
1,303
3,333



At 31 January 2024

21,087
8,355
8,577
38,019



Net book value



At 31 January 2024
15,087
1,161
359
16,607



At 31 January 2023
15,898
1,290
1,662
18,850


5.


Debtors

2024
2023
£
£


Trade debtors
2,652
5,966

Other debtors
628
526

3,280
6,492


Page 6

 
SANDY SMITH GOLF LIMITED
 

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

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,870
721

Other taxation and social security
15,513
13,675

Other creditors
39,209
30,760

Accruals and deferred income
1,100
1,050

58,692
46,206



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



Page 7