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REGISTERED NUMBER: 10072647 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

MIDLANDS GOLF BUGGIES LIMITED

MIDLANDS GOLF BUGGIES LIMITED (REGISTERED NUMBER: 10072647)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIDLANDS GOLF BUGGIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Mr A I Lee





SECRETARY:





REGISTERED OFFICE: Harlexton
Kirkby Lane
Pinxton
Nottinghamshire
NG16 6JA





REGISTERED NUMBER: 10072647 (England and Wales)





ACCOUNTANTS: Anderson & Co
18 Diamond Avenue
Kirkby in Ashfield
Nottinghamshire
NG17 7GR

MIDLANDS GOLF BUGGIES LIMITED (REGISTERED NUMBER: 10072647)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 80,108 89,308

CURRENT ASSETS
Stocks 56,000 41,000
Debtors 5 10,574 5,210
Cash at bank 46,252 38,464
112,826 84,674
CREDITORS
Amounts falling due within one year 6 173,644 159,980
NET CURRENT LIABILITIES (60,818 ) (75,306 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,290

14,002

CREDITORS
Amounts falling due after more than one
year

7

5,421

7,486

PROVISIONS FOR LIABILITIES (14,480 ) (16,181 )
NET ASSETS 10,231 5,307

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 10,230 5,306
SHAREHOLDERS' FUNDS 10,231 5,307

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MIDLANDS GOLF BUGGIES LIMITED (REGISTERED NUMBER: 10072647)

BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 December 2024 and were signed by:





Mr A I Lee - Director


MIDLANDS GOLF BUGGIES LIMITED (REGISTERED NUMBER: 10072647)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Midlands Golf Buggies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

MIDLANDS GOLF BUGGIES LIMITED (REGISTERED NUMBER: 10072647)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 98,093 3,830 32,350 802 135,075
Additions 1,022 - 4,800 1,208 7,030
At 30 April 2024 99,115 3,830 37,150 2,010 142,105
DEPRECIATION
At 1 May 2023 29,729 2,220 13,406 412 45,767
Charge for year 10,889 241 4,701 399 16,230
At 30 April 2024 40,618 2,461 18,107 811 61,997
NET BOOK VALUE
At 30 April 2024 58,497 1,369 19,043 1,199 80,108
At 30 April 2023 68,364 1,610 18,944 390 89,308

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 10,169 4,806
Other debtors 1 -
Prepayments 404 404
10,574 5,210

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,417 15,417
Finance leases 30,476 36,281
Trade creditors 8,640 8,640
VAT 6,554 8,797
Directors' current accounts 116,322 89,420
Accrued expenses 1,235 1,425
173,644 159,980

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Finance leases (5,421 ) (7,486 )

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A I Lee.