Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr N Yeo 04/04/2012 15 November 2024 The principal activity of the the Company during the financial year was the retail of sports goods. 08019030 2024-03-31 08019030 bus:Director1 2024-03-31 08019030 2023-03-31 08019030 core:CurrentFinancialInstruments 2024-03-31 08019030 core:CurrentFinancialInstruments 2023-03-31 08019030 core:Non-currentFinancialInstruments 2024-03-31 08019030 core:Non-currentFinancialInstruments 2023-03-31 08019030 core:ShareCapital 2024-03-31 08019030 core:ShareCapital 2023-03-31 08019030 core:RetainedEarningsAccumulatedLosses 2024-03-31 08019030 core:RetainedEarningsAccumulatedLosses 2023-03-31 08019030 core:ComputerSoftware 2023-03-31 08019030 core:ComputerSoftware 2024-03-31 08019030 core:Vehicles 2023-03-31 08019030 core:FurnitureFittings 2023-03-31 08019030 core:OfficeEquipment 2023-03-31 08019030 core:Vehicles 2024-03-31 08019030 core:FurnitureFittings 2024-03-31 08019030 core:OfficeEquipment 2024-03-31 08019030 bus:OrdinaryShareClass1 2024-03-31 08019030 bus:OrdinaryShareClass2 2024-03-31 08019030 bus:OrdinaryShareClass3 2024-03-31 08019030 2023-04-01 2024-03-31 08019030 bus:FilletedAccounts 2023-04-01 2024-03-31 08019030 bus:SmallEntities 2023-04-01 2024-03-31 08019030 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08019030 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08019030 bus:Director1 2023-04-01 2024-03-31 08019030 core:ComputerSoftware core:TopRangeValue 2023-04-01 2024-03-31 08019030 core:Vehicles 2023-04-01 2024-03-31 08019030 core:FurnitureFittings core:TopRangeValue 2023-04-01 2024-03-31 08019030 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 08019030 2022-04-01 2023-03-31 08019030 core:ComputerSoftware 2023-04-01 2024-03-31 08019030 core:FurnitureFittings 2023-04-01 2024-03-31 08019030 core:OfficeEquipment 2023-04-01 2024-03-31 08019030 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 08019030 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 08019030 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08019030 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 08019030 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 08019030 bus:OrdinaryShareClass3 2023-04-01 2024-03-31 08019030 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08019030 (England and Wales)

GOLF STORE PRO LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

GOLF STORE PRO LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

GOLF STORE PRO LIMITED

BALANCE SHEET

As at 31 March 2024
GOLF STORE PRO LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 0 168
Tangible assets 4 59,702 21,321
59,702 21,489
Current assets
Stocks 20,000 15,000
Debtors 5 32,725 37,005
Cash at bank and in hand 73,004 75,297
125,729 127,302
Creditors: amounts falling due within one year 6 ( 33,771) ( 43,434)
Net current assets 91,958 83,868
Total assets less current liabilities 151,660 105,357
Creditors: amounts falling due after more than one year 7 ( 60,493) ( 42,943)
Provision for liabilities ( 11,344) ( 4,083)
Net assets 79,823 58,331
Capital and reserves
Called-up share capital 8 102 102
Profit and loss account 79,721 58,229
Total shareholder's funds 79,823 58,331

For the financial year ending 31 March 2024 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 Golf Store Pro Limited (registered number: 08019030) were approved and authorised for issue by the Director on 15 November 2024. They were signed on its behalf by:

Mr N Yeo
Director
GOLF STORE PRO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
GOLF STORE PRO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Golf Store Pro Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is Unit 12E Sawrey Street, Stonehouse, Plymouth, PL1 3LA.

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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 5 years straight line
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, reducing balance] basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 5 years straight line
Office equipment 3 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.

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 Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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 receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Computer software Total
£ £
Cost
At 01 April 2023 1,120 1,120
At 31 March 2024 1,120 1,120
Accumulated amortisation
At 01 April 2023 952 952
Charge for the financial year 168 168
At 31 March 2024 1,120 1,120
Net book value
At 31 March 2024 0 0
At 31 March 2023 168 168

4. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 April 2023 50,315 678 1,719 52,712
Additions 61,699 0 0 61,699
Disposals ( 50,315) 0 0 ( 50,315)
At 31 March 2024 61,699 678 1,719 64,096
Accumulated depreciation
At 01 April 2023 29,089 583 1,719 31,391
Charge for the financial year 2,056 36 0 2,092
Disposals ( 29,089) 0 0 ( 29,089)
At 31 March 2024 2,056 619 1,719 4,394
Net book value
At 31 March 2024 59,643 59 0 59,702
At 31 March 2023 21,226 95 0 21,321

5. Debtors

2024 2023
£ £
Trade debtors 55 85
Other debtors 32,670 36,920
32,725 37,005

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 4 0
Trade creditors 4,381 4,814
Corporation tax 6,597 7,164
Other taxation and social security 0 4,044
Obligations under finance leases and hire purchase contracts 2,404 6,626
Other creditors 20,385 20,786
33,771 43,434

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other loans 11,667 20,760
Obligations under finance leases and hire purchase contracts 48,826 22,183
60,493 42,943

The finance contract is secured on assets in the Company with a carrying value of £57,122 (2023: £ 21,227).

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100
1 A ordinary share of £ 1.00 1 1
1 B ordinary share of £ 1.00 1 1
102 102

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Directors loan accounts 32,036 35,180

On the Directors Loan Account, interest was charged at 2.25%. This balance was repaid within 9 months of the year end.