Caseware UK (AP4) 2023.0.135 2023.0.135 5true2023-03-01falseNo description of principal activity7falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11202464 2023-03-01 2024-02-29 11202464 2022-03-01 2023-02-28 11202464 2024-02-29 11202464 2023-02-28 11202464 c:Director1 2023-03-01 2024-02-29 11202464 d:Buildings d:LongLeaseholdAssets 2023-03-01 2024-02-29 11202464 d:Buildings d:LongLeaseholdAssets 2024-02-29 11202464 d:Buildings d:LongLeaseholdAssets 2023-02-28 11202464 d:Buildings d:ShortLeaseholdAssets 2023-03-01 2024-02-29 11202464 d:PlantMachinery 2023-03-01 2024-02-29 11202464 d:PlantMachinery 2024-02-29 11202464 d:PlantMachinery 2023-02-28 11202464 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 11202464 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 11202464 d:CurrentFinancialInstruments 2024-02-29 11202464 d:CurrentFinancialInstruments 2023-02-28 11202464 d:Non-currentFinancialInstruments 2024-02-29 11202464 d:Non-currentFinancialInstruments 2023-02-28 11202464 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 11202464 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11202464 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 11202464 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 11202464 d:ShareCapital 2024-02-29 11202464 d:ShareCapital 2023-02-28 11202464 d:RetainedEarningsAccumulatedLosses 2024-02-29 11202464 d:RetainedEarningsAccumulatedLosses 2023-02-28 11202464 c:OrdinaryShareClass1 2023-03-01 2024-02-29 11202464 c:OrdinaryShareClass1 2023-02-28 11202464 c:OrdinaryShareClass2 2023-03-01 2024-02-29 11202464 c:OrdinaryShareClass2 2024-02-29 11202464 c:OrdinaryShareClass2 2023-02-28 11202464 c:OrdinaryShareClass3 2023-03-01 2024-02-29 11202464 c:OrdinaryShareClass3 2024-02-29 11202464 c:OrdinaryShareClass3 2023-02-28 11202464 c:FRS102 2023-03-01 2024-02-29 11202464 c:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 11202464 c:FullAccounts 2023-03-01 2024-02-29 11202464 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11202464 d:WithinOneYear 2024-02-29 11202464 d:WithinOneYear 2023-02-28 11202464 2 2023-03-01 2024-02-29 11202464 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11202464










Over The Top Golf Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 29 February 2024

 
Over The Top Golf Ltd
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Over The Top Golf Ltd for the year ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Over The Top Golf Ltd for the year ended 29 February 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Over The Top Golf Ltd, as a body, in accordance with the terms of our engagement letter dated 22 April 2022Our work has been undertaken solely to prepare for your approval the financial statements of Over The Top Golf Ltd and state those matters that we have agreed to state to the Board of directors of Over The Top Golf Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Over The Top Golf Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Over The Top Golf Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Over The Top Golf Ltd. You consider that Over The Top Golf Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Over The Top Golf Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
20 November 2024
Page 1

 
Over The Top Golf Ltd
Registered number: 11202464

Balance sheet
As at 29 February 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
61,225
10,522

  
61,225
10,522

Current assets
  

Stocks
 5 
375,466
208,634

Debtors: amounts falling due within one year
 6 
175,590
141,794

Current asset investments
 7 
923
500

Cash at bank and in hand
  
141,838
143,526

  
693,817
494,454

Creditors: amounts falling due within one year
 8 
(464,467)
(319,084)

Net current assets
  
 
 
229,350
 
 
175,370

Total assets less current liabilities
  
290,575
185,892

Creditors: amounts falling due after more than one year
 9 
(11,375)
(20,476)

Provisions for liabilities
  

Deferred tax
  
(14,117)
-

  
 
 
(14,117)
 
 
-

Net assets
  
265,083
165,416


Capital and reserves
  

Called up share capital 
 10 
400
200

Profit and loss account
  
264,683
165,216

  
265,083
165,416


Page 2

 
Over The Top Golf Ltd
Registered number: 11202464

Balance sheet (continued)
As at 29 February 2024

The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 comprehensive income 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 by: 




O T Turnill
Director

Date: 20 November 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
Over The Top Golf Ltd
 

 
Notes to the financial statements
For the year ended 29 February 2024

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales. 
The address of its registered office is: 
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
The principal place of business is:
Unit 36, Glenmore Business Park
Chichester
West Sussex
PO19 7BJ

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
Over The Top Golf Ltd
 

 
Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)

 
2.3

Revenue

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

Sale of goods

Revenue 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 revenue 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

Revenue 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 revenue 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.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
Over The Top Golf Ltd
 

 
Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)

 
2.8

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet 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 balance sheet 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 balance sheet date.


 
2.10

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.

Page 6

 
Over The Top Golf Ltd
 

 
Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
over lease term
Plant and machinery
-
25%

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.

 
2.11

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 7

 
Over The Top Golf Ltd
 

 
Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)

 
2.16

Financial instruments

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

 
2.17

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 8

 
Over The Top Golf Ltd
 

 
Notes to the financial statements
For the year ended 29 February 2024

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
7
5


4.


Tangible fixed assets







Leasehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 March 2023
-
20,124
20,124


Additions
20,394
37,231
57,625



At 29 February 2024

20,394
57,355
77,749



Depreciation


At 1 March 2023
-
9,602
9,602


Charge for the year on owned assets
-
6,922
6,922



At 29 February 2024

-
16,524
16,524



Net book value



At 29 February 2024
20,394
40,831
61,225



At 28 February 2023
-
10,522
10,522


5.


Stocks

29 February
28 February
2024
2023
£
£

Stock - finished goods
375,466
208,634

375,466
208,634


Page 9

 
Over The Top Golf Ltd
 

 
Notes to the financial statements
For the year ended 29 February 2024

6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
140,753
128,801

Other debtors
15,300
9,900

Prepayments and accrued income
19,537
3,093

175,590
141,794



7.


Current asset investments

29 February
28 February
2024
2023
£
£

Current asset investments
923
500

923
500



8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
9,100
9,100

Trade creditors
305,115
206,727

Corporation tax
46,421
25,657

Other taxation and social security
35,306
33,248

Other creditors
61,893
43,496

Accruals and deferred income
6,632
856

464,467
319,084



9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
11,375
20,476

11,375
20,476


Page 10

 
Over The Top Golf Ltd
 

 
Notes to the financial statements
For the year ended 29 February 2024

10.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



204 (2023 - 100) Ordinary shares of £1.00 each
204
100
60 (2023 - 50) A Ordinary shares of £1.00 each
60
50
136 (2023 - 50) B Ordinary shares of £1.00 each
136
50

400

200





11.


Commitments under operating leases

At 29 February 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

29 February
28 February
2024
2023
£
£


Operating leases
178,500
127,750

178,500
127,750


Page 11