Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30Retail sale of golf equipmentfalse2023-05-0133falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13790258 2023-05-01 2024-04-30 13790258 2021-12-08 2023-04-30 13790258 2024-04-30 13790258 2023-04-30 13790258 c:Director1 2023-05-01 2024-04-30 13790258 c:RegisteredOffice 2023-05-01 2024-04-30 13790258 d:FurnitureFittings 2023-05-01 2024-04-30 13790258 d:FurnitureFittings 2024-04-30 13790258 d:FurnitureFittings 2023-04-30 13790258 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 13790258 d:OfficeEquipment 2023-05-01 2024-04-30 13790258 d:OfficeEquipment 2024-04-30 13790258 d:OfficeEquipment 2023-04-30 13790258 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 13790258 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 13790258 d:CurrentFinancialInstruments 2024-04-30 13790258 d:CurrentFinancialInstruments 2023-04-30 13790258 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 13790258 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 13790258 d:ShareCapital 2024-04-30 13790258 d:ShareCapital 2023-04-30 13790258 d:RetainedEarningsAccumulatedLosses 2024-04-30 13790258 d:RetainedEarningsAccumulatedLosses 2023-04-30 13790258 c:FRS102 2023-05-01 2024-04-30 13790258 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 13790258 c:FullAccounts 2023-05-01 2024-04-30 13790258 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13790258 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: 13790258














NEARLY NEW GOLF CLUBS LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 APRIL 2024

 
NEARLY NEW GOLF CLUBS LTD
 
 
COMPANY INFORMATION


Director
HH Heptonstall Manasseh 




Registered number
13790258



Registered office
6 Noel Road

London

N1 8HA




Accountants
Sopher + Co LLP
Chartered Accountants

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
NEARLY NEW GOLF CLUBS LTD
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 7


 
NEARLY NEW GOLF CLUBS LTD
REGISTERED NUMBER:13790258

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,984
1,457

  
2,984
1,457

Current assets
  

Stocks
  
151,824
85,000

Debtors: amounts falling due within one year
 6 
28,916
20,831

Cash at bank and in hand
  
13,380
15,112

  
194,120
120,943

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(90,219)
(67,085)

Net current assets
  
 
 
103,901
 
 
53,858

Total assets less current liabilities
  
106,885
55,315

Provisions for liabilities
  

Deferred tax
  
(746)
(50)

  
 
 
(746)
 
 
(50)

Net assets
  
106,139
55,265


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
106,138
55,264

  
106,139
55,265


Page 1

 
NEARLY NEW GOLF CLUBS LTD
REGISTERED NUMBER:13790258
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 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 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: 




HH Heptonstall Manasseh
Director

Date: 13 November 2024

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

Page 2

 
NEARLY NEW GOLF CLUBS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Nearly New Golf Clubs Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 Noel Road, London, England, N1 8HA.
The principal activity of the company continued to be that of retail of golf clubs.
The Company's functional and presentational currency is £ sterling.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover represents net invoiced sale of goods, excluding value added tax. Turnover is recognised at
the point of sale.

 
2.3

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 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 3

 
NEARLY NEW GOLF CLUBS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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:

Fixtures and fittings
-
20%
Office equipment
-
20%

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.

 
2.5

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.

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.

 
2.6

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.

 
2.7

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.

Page 4

 
NEARLY NEW GOLF CLUBS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
NEARLY NEW GOLF CLUBS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
1,571
250
1,821


Additions
713
1,539
2,252



At 30 April 2024

2,284
1,789
4,073



Depreciation


At 1 May 2023
314
50
364


Charge for the year on owned assets
385
340
725



At 30 April 2024

699
390
1,089



Net book value



At 30 April 2024
1,585
1,399
2,984



At 30 April 2023
1,257
200
1,457


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
151,824
85,000

151,824
85,000



6.


Debtors

2024
2023
£
£


Other debtors
5,813
8,490

Prepayments and accrued income
23,103
12,341

28,916
20,831


Page 6

 
NEARLY NEW GOLF CLUBS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
31,488
19,560

Trade creditors
3,615
9,093

Corporation tax
13,163
12,603

Other taxation and social security
4,415
1,879

Other creditors
37,538
20,450

Accruals and deferred income
-
3,500

90,219
67,085



8.


Related party transactions

Included within other loans are amounts totalling £31,488 (2023 - £19,560) owed to close related parties of the director.  These loans are interest free and repayable on demand.
Included within other creditors is £37,538 (2023 - £20,450) owed to the director.  This amount is interest free and repayable on demand.

 
Page 7