Registered number
09141393
Frank Houlgate at Waterfront Golf Limited
Filleted Accounts
31 July 2024
Frank Houlgate at Waterfront Golf Limited
Registered number: 09141393
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 533,333 461,075
Current assets
Stocks 93,729 69,540
Debtors 4 30,605 21,273
Cash at bank and in hand 88,593 73,754
212,927 164,567
Creditors: amounts falling due within one year 5 (293,449) (168,179)
Net current liabilities (80,522) (3,612)
Total assets less current liabilities 452,811 457,463
Creditors: amounts falling due after more than one year 6 (143,170) (152,391)
Provisions for liabilities (71,731) (67,773)
Net assets 237,910 237,299
Capital and reserves
Called up share capital 100 100
Profit and loss account 237,810 237,199
Shareholders' funds 237,910 237,299
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
F Houlgate
Director
Approved by the board on 4 April 2025
Frank Houlgate at Waterfront Golf Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land none provided
Land and buildings improvments 20% straight line
Plant and machinery 15% reducing balance and 25% straight line
Motor vehicles 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 20 20
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 212,650 428,851 96,072 737,573
Additions 70,359 109,235 5,225 184,819
At 31 July 2024 283,009 538,086 101,297 922,392
Depreciation
At 1 August 2023 58,725 209,360 8,413 276,498
Charge for the year 112,561 - - 112,561
At 31 July 2024 171,286 209,360 8,413 389,059
Net book value
At 31 July 2024 111,723 328,726 92,884 533,333
At 31 July 2023 153,925 219,491 87,659 461,075
4 Debtors 2024 2023
£ £
Trade debtors 27,575 16,781
Other debtors 3,030 4,492
30,605 21,273
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 31,806 30,890
Trade creditors 109,434 68,043
Accruals and deferred income 62,279 23,742
Taxation and social security costs 55,881 34,935
Other creditors 24,049 569
293,449 168,179
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,837 18,957
Obligations under finance lease and hire purchase contracts 134,333 133,434
143,170 152,391
7 Controlling party
The company is controlled by Mr F Houlgate.
8 Other information
Frank Houlgate at Waterfront Golf Limited is a private company limited by shares and incorporated in England. Its registered office is:
107 Hawshaw Lane
Hoyland
Barnsley
S74 9ES
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