Silverfin false false 31/10/2023 01/11/2022 31/10/2023 J T Bunch 16/10/2015 29 October 2024 The principal activity of the Company during the financial year was that of providing tour operating activities for golf events. SC518074 2023-10-31 SC518074 bus:Director1 2023-10-31 SC518074 2022-10-31 SC518074 core:CurrentFinancialInstruments 2023-10-31 SC518074 core:CurrentFinancialInstruments 2022-10-31 SC518074 core:ShareCapital 2023-10-31 SC518074 core:ShareCapital 2022-10-31 SC518074 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC518074 core:RetainedEarningsAccumulatedLosses 2022-10-31 SC518074 core:FurnitureFittings 2022-10-31 SC518074 core:FurnitureFittings 2023-10-31 SC518074 bus:OrdinaryShareClass1 2023-10-31 SC518074 2022-11-01 2023-10-31 SC518074 bus:FilletedAccounts 2022-11-01 2023-10-31 SC518074 bus:SmallEntities 2022-11-01 2023-10-31 SC518074 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 SC518074 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC518074 bus:Director1 2022-11-01 2023-10-31 SC518074 core:FurnitureFittings core:TopRangeValue 2022-11-01 2023-10-31 SC518074 2021-11-01 2022-10-31 SC518074 core:FurnitureFittings 2022-11-01 2023-10-31 SC518074 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 SC518074 bus:OrdinaryShareClass1 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC518074 (Scotland)

ALTA GOLF EVENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH THE REGISTRAR

ALTA GOLF EVENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2023

Contents

ALTA GOLF EVENTS LIMITED

BALANCE SHEET

AS AT 31 OCTOBER 2023
ALTA GOLF EVENTS LIMITED

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 3,094 3,113
3,094 3,113
Current assets
Debtors 4 117 10
Cash at bank and in hand 52,778 19,212
52,895 19,222
Creditors: amounts falling due within one year 5 ( 58,879) ( 30,712)
Net current liabilities (5,984) (11,490)
Total assets less current liabilities (2,890) (8,377)
Net liabilities ( 2,890) ( 8,377)
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account ( 2,891 ) ( 8,378 )
Total shareholder's deficit ( 2,890) ( 8,377)

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Alta Golf Events Limited (registered number: SC518074) were approved and authorised for issue by the Director on 29 October 2024. They were signed on its behalf by:

J T Bunch
Director
ALTA GOLF EVENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2023
ALTA GOLF EVENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Alta Golf Events Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 4 Brownhills Gardens, St. Andrews, KY16 8PY, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 November 2022 4,978 4,978
Additions 1,189 1,189
At 31 October 2023 6,167 6,167
Accumulated depreciation
At 01 November 2022 1,865 1,865
Charge for the financial year 1,208 1,208
At 31 October 2023 3,073 3,073
Net book value
At 31 October 2023 3,094 3,094
At 31 October 2022 3,113 3,113

4. Debtors

2023 2022
£ £
Trade debtors 117 10

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 7,450 7,531
Taxation and social security 400 1,614
Other creditors 51,029 21,567
58,879 30,712

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amounts due to directors 40,887 20,001