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Company registration number: 6757458
Greencard Golf Limited
Unaudited filleted financial statements
30 November 2024
Greencard Golf Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Greencard Golf Limited
Director and other information
Director Mr R Munroe
Company number 6757458
Registered office 1st Floor
64 Baker Street
London
W1U 7GB
Accountants Redford & Co Limited
Chartered Accountants
1st Floor
64 Baker Street
London
W1U 7GB
Greencard Golf Limited
Statement of financial position
30 November 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 7,765 10,354
_______ _______
7,765 10,354
Current assets
Debtors 6 672,819 440,339
Cash at bank and in hand 150,723 177,207
_______ _______
823,542 617,546
Creditors: amounts falling due
within one year 7 ( 716,783) ( 540,991)
_______ _______
Net current assets 106,759 76,555
_______ _______
Total assets less current liabilities 114,524 86,909
Creditors: amounts falling due
after more than one year 8 ( 5,000) ( 15,000)
_______ _______
Net assets 109,524 71,909
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 109,424 71,809
_______ _______
Shareholders funds 109,524 71,909
_______ _______
For the year ending 30 November 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 06 March 2025 , and are signed on behalf of the board by:
Mr R Munroe
Director
Company registration number: 6757458
Greencard Golf Limited
Notes to the financial statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 1st Floor, 64 Baker Street, London, W1U 7GB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument .
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 December 2023 and 30 November 2024 37,027 37,027
_______ _______
Depreciation
At 1 December 2023 26,673 26,673
Charge for the year 2,589 2,589
_______ _______
At 30 November 2024 29,262 29,262
_______ _______
Carrying amount
At 30 November 2024 7,765 7,765
_______ _______
At 30 November 2023 10,354 10,354
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 396,134 270,055
Other debtors 276,685 170,284
_______ _______
672,819 440,339
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Corporation tax 38,782 5,903
Social security and other taxes - 1,588
Other creditors 668,001 523,500
_______ _______
716,783 540,991
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 5,000 15,000
_______ _______
9. Related party transactions
The company has a loan account with its director, R Munroe. The loan account represents monies owed by him. The balance outstanding at 30 November 2024 was £44,346 (2023: £2,858 Cr). It is included in 'Other debtors' in the accounts.The loan account is interest free, unsecured, and repayable on demand.