Company registration number SC200546 (Scotland)
GREENACRES CURLING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
GREENACRES CURLING LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GREENACRES CURLING LTD
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
336,952
354,173
Current assets
Stocks
6,210
4,400
Debtors
5
94,703
203,523
Cash at bank and in hand
54,402
192,676
155,315
400,599
Creditors: amounts falling due within one year
6
(105,753)
(339,218)
Net current assets
49,562
61,381
Total assets less current liabilities
386,514
415,554
Creditors: amounts falling due after more than one year
7
(16,667)
(26,667)
Provisions for liabilities
(12,481)
(10,909)
Net assets
357,366
377,978
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
357,266
377,878
Total equity
357,366
377,978
GREENACRES CURLING LTD
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 21 March 2025 and are signed on its behalf by:
R I C HARDING
R I C  Harding
Director
Company Registration No. SC200546
GREENACRES CURLING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Greenacres Curling Ltd is a private company limited by shares incorporated in Scotland. The registered office is C/O AAB Business & Tax Advisory LLP, 133 Finnieston Street, Glasgow, Scotland, G3 8HB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable.

 

Turnover represents net invoiced sales of goods and services in respect of ice rink and related services, excluding value added tax.

 

Turnover is recognised when a customer is invoiced or when the goods and services have been delivered.

1.4
Intangible fixed assets

Goodwill, being the amount paid in connection with the acquisition of a business in 2000 has since been fully amortised.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line
Plant and machinery etc
15% reducing balance, 20% reducing balance, 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

GREENACRES CURLING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and funds held in the bank.

1.7
Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Retirement benefits

The company operates a defined contribution plan for it's 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 the Statement of comprehensive income 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.

1.10
Government grants

Grants are measured at the fair value of the asset received or receivable. Grant income received in the year has been recognised by the company using the accruals method. The grant income is recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

GREENACRES CURLING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
12
10
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
22,500
Amortisation and impairment
At 1 July 2023 and 30 June 2024
22,500
Carrying amount
At 30 June 2024
-
0
At 30 June 2023
-
0
4
Tangible fixed assets
Freehold property
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023
479,889
296,254
776,143
Additions
-
0
3,256
3,256
Disposals
-
0
(464)
(464)
At 30 June 2024
479,889
299,046
778,935
Depreciation and impairment
At 1 July 2023
184,533
237,437
421,970
Depreciation charged in the year
9,599
10,703
20,302
Eliminated in respect of disposals
-
0
(289)
(289)
At 30 June 2024
194,132
247,851
441,983
Carrying amount
At 30 June 2024
285,757
51,195
336,952
At 30 June 2023
295,356
58,817
354,173
GREENACRES CURLING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
35,584
27,952
Other debtors
59,119
175,571
94,703
203,523
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
26,892
246,824
Taxation and social security
11,265
51,316
Other creditors
57,596
31,078
105,753
339,218
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
16,667
26,667
8
Directors' advances, credits and guarantees

At 30 June 2024 director Richard Harding owed the company £11,926 (2023 - £102,413 ). This debt has subsequently been repaid.

 

No interest is charged on this loan.

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