1 May 2023 false No description of principal activity Taxfiler 2024.6 09002536business:PrivateLimitedCompanyLtd2023-05-012024-04-30 090025362023-04-30 090025362023-05-012024-04-30 09002536business:AuditExemptWithAccountantsReport2023-05-012024-04-30 09002536business:FilletedAccounts2023-05-012024-04-30 090025362024-04-30 090025362023-04-30 09002536core:WithinOneYear2024-04-30 09002536core:WithinOneYear2023-04-30 09002536core:ShareCapitalcore:PreviouslyStatedAmount2024-04-30 09002536core:ShareCapitalcore:PreviouslyStatedAmount2023-04-30 09002536core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-04-30 09002536core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-04-30 09002536core:PreviouslyStatedAmount2024-04-30 09002536core:PreviouslyStatedAmount2023-04-30 09002536business:SmallEntities2023-05-012024-04-30 09002536business:Director12023-05-012024-04-30 09002536countries:EnglandWales2023-05-012024-04-30 09002536business:RegisteredOffice2023-05-012024-04-30 09002536core:LandBuildings2023-05-012024-04-30 09002536core:PlantMachinery2023-05-012024-04-30 09002536core:ComputerEquipment2023-05-012024-04-30 09002536core:LandBuildings2023-04-30 09002536core:PlantMachinery2023-04-30 09002536core:ComputerEquipment2023-04-30 09002536core:LandBuildings2024-04-30 09002536core:PlantMachinery2024-04-30 09002536core:ComputerEquipment2024-04-30 09002536business:OrdinaryShareClass12023-05-012024-04-30 09002536business:OrdinaryShareClass12022-05-012023-04-30 090025362022-05-012023-04-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 09002536 (England and Wales)
Richard Reed Golf Ltd Unaudited accounts for the year ended 30 April 2024
Richard Reed Golf Ltd Unaudited accounts Contents
Page
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Richard Reed Golf Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
9,324 
13,897 
Current assets
Inventories
34,983 
32,192 
Debtors
4,229 
3,516 
Cash at bank and in hand
29,895 
28,458 
69,107 
64,166 
Creditors: amounts falling due within one year
(48,663)
(44,160)
Net current assets
20,444 
20,006 
Total assets less current liabilities
29,768 
33,903 
Provisions for liabilities
Deferred tax
(1,084)
(1,679)
Net assets
28,684 
32,224 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
28,683 
32,223 
Shareholders' funds
28,684 
32,224 
For the year ending 30 April 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 January 2025 and were signed on its behalf by
R D Reed Director Company Registration No. 09002536
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Richard Reed Golf Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Richard Reed Golf Ltd is a private company, limited by shares, registered in England and Wales, registration number 09002536. The registered office is 2 Giles Close, Quorn, Loughborough, Leicestershire, LE12 8YS, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% on cost
Plant & machinery
25% on cost
Computer equipment
20% on cost
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Richard Reed Golf Ltd Notes to the Accounts for the year ended 30 April 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 May 2023
4,804 
28,940 
1,784 
35,528 
At 30 April 2024
4,804 
28,940 
1,784 
35,528 
Depreciation
At 1 May 2023
4,322 
16,269 
1,040 
21,631 
Charge for the year
480 
3,845 
248 
4,573 
At 30 April 2024
4,802 
20,114 
1,288 
26,204 
Net book value
At 30 April 2024
2 
8,826 
496 
9,324 
At 30 April 2023
482 
12,671 
744 
13,897 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
4,229 
3,516 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
11,112 
5,844 
Taxes and social security
8,312 
6,552 
Other creditors
20,083 
16,645 
Loans from directors
8,326 
13,539 
Accruals
830 
1,580 
48,663 
44,160 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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