Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 12468513 Mrs Barbara Bryan Mrs Carole Maher Mr David Hargreaves iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12468513 2023-02-28 12468513 2024-02-29 12468513 2023-03-01 2024-02-29 12468513 frs-core:CurrentFinancialInstruments 2024-02-29 12468513 frs-core:ComputerEquipment 2024-02-29 12468513 frs-core:ComputerEquipment 2023-03-01 2024-02-29 12468513 frs-core:ComputerEquipment 2023-02-28 12468513 frs-core:FurnitureFittings 2024-02-29 12468513 frs-core:FurnitureFittings 2023-03-01 2024-02-29 12468513 frs-core:FurnitureFittings 2023-02-28 12468513 frs-core:PlantMachinery 2024-02-29 12468513 frs-core:PlantMachinery 2023-03-01 2024-02-29 12468513 frs-core:PlantMachinery 2023-02-28 12468513 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 12468513 frs-bus:CompanyLimitedByGuarantee 2023-03-01 2024-02-29 12468513 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 12468513 frs-bus:SmallEntities 2023-03-01 2024-02-29 12468513 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12468513 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12468513 frs-bus:Director1 2023-03-01 2024-02-29 12468513 frs-bus:Director2 2023-03-01 2024-02-29 12468513 frs-bus:Director3 2023-03-01 2024-02-29 12468513 frs-core:CurrentFinancialInstruments 1 2024-02-29 12468513 frs-core:CurrentFinancialInstruments 2 2024-02-29 12468513 frs-countries:EnglandWales 2023-03-01 2024-02-29 12468513 2022-02-28 12468513 2023-02-28 12468513 2022-03-01 2023-02-28 12468513 frs-core:CurrentFinancialInstruments 2023-02-28 12468513 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 12468513 frs-core:CurrentFinancialInstruments 1 2023-02-28 12468513 frs-core:CurrentFinancialInstruments 2 2023-02-28
Registered number: 12468513
Mytton Fold Golf Club Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
David H Evans Ltd
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 12468513
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 27,033 30,281
27,033 30,281
CURRENT ASSETS
Stocks 5 18,812 18,600
Debtors 6 (704 ) 5,635
Cash at bank and in hand 47,049 50,976
65,157 75,211
Creditors: Amounts Falling Due Within One Year 7 (54,761 ) (56,812 )
NET CURRENT ASSETS (LIABILITIES) 10,396 18,399
TOTAL ASSETS LESS CURRENT LIABILITIES 37,429 48,680
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,136 ) (5,753 )
NET ASSETS 32,293 42,927
Income Statement 32,293 42,927
MEMBERS' FUNDS 32,293 42,927
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mrs Carole Maher
Director
19/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Mytton Fold Golf Club Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 12468513 . The registered office is Unit 27B, Mitton Road Business Park, Mitton Road, Whalley, Lancashire, BB7 9YE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 43,494 14,068 1,403 58,965
Additions 653 3,672 - 4,325
As at 29 February 2024 44,147 17,740 1,403 63,290
Depreciation
As at 1 March 2023 21,660 6,191 833 28,684
Provided during the period 4,335 2,887 351 7,573
As at 29 February 2024 25,995 9,078 1,184 36,257
Net Book Value
As at 29 February 2024 18,152 8,662 219 27,033
As at 1 March 2023 21,834 7,877 570 30,281
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5. Stocks
2024 2023
£ £
Materials 18,812 18,600
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 303
Prepayments and accrued income - 1,934
Credit card receipts (1,240 ) 3,398
Corporation tax recoverable assets 536 -
(704 ) 5,635
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,587 3,899
Corporation tax - 536
Other taxes and social security 1,279 1,864
Customer prizes liabillity 9,480 13,127
Pension liability 72 74
Accruals and deferred income 22,921 25,723
Directors' loan accounts 17,422 11,589
54,761 56,812
8. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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