7 false false false false false false false false false false true false false false false false false No description of principal activity 2024-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 582,650 582,650 123,976 95,635 23,808 243,419 243,419 123,976 xbrli:pure xbrli:shares iso4217:GBP 03684595 2024-03-01 2025-02-28 03684595 2025-02-28 03684595 2024-02-29 03684595 2023-03-01 2024-02-29 03684595 2024-02-29 03684595 2023-02-28 03684595 core:NetGoodwill 2024-03-01 2025-02-28 03684595 core:PlantMachinery 2024-03-01 2025-02-28 03684595 core:FurnitureFittings 2024-03-01 2025-02-28 03684595 core:MotorVehicles 2024-03-01 2025-02-28 03684595 bus:Director2 2024-03-01 2025-02-28 03684595 core:NetGoodwill 2025-02-28 03684595 core:LandBuildings 2024-02-29 03684595 core:PlantMachinery 2024-02-29 03684595 core:FurnitureFittings 2024-02-29 03684595 core:MotorVehicles 2024-02-29 03684595 core:LandBuildings 2025-02-28 03684595 core:PlantMachinery 2025-02-28 03684595 core:FurnitureFittings 2025-02-28 03684595 core:MotorVehicles 2025-02-28 03684595 core:WithinOneYear 2025-02-28 03684595 core:WithinOneYear 2024-02-29 03684595 core:ShareCapital 2025-02-28 03684595 core:ShareCapital 2024-02-29 03684595 core:SharePremium 2025-02-28 03684595 core:SharePremium 2024-02-29 03684595 core:RetainedEarningsAccumulatedLosses 2025-02-28 03684595 core:RetainedEarningsAccumulatedLosses 2024-02-29 03684595 core:BetweenOneFiveYears 2024-02-29 03684595 core:LandBuildings 2024-03-01 2025-02-28 03684595 core:CostValuation core:Non-currentFinancialInstruments 2024-02-29 03684595 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2025-02-28 03684595 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2025-02-28 03684595 core:CostValuation core:Non-currentFinancialInstruments 2025-02-28 03684595 core:Non-currentFinancialInstruments 2025-02-28 03684595 core:Non-currentFinancialInstruments 2024-02-29 03684595 core:LandBuildings 2024-02-29 03684595 core:PlantMachinery 2024-02-29 03684595 core:FurnitureFittings 2024-02-29 03684595 core:MotorVehicles 2024-02-29 03684595 bus:SmallEntities 2024-03-01 2025-02-28 03684595 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 03684595 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 03684595 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 03684595 bus:FullAccounts 2024-03-01 2025-02-28
COMPANY REGISTRATION NUMBER: 03684595
Golf Explorations Limited
Unaudited financial statements
28 February 2025
Golf Explorations Limited
Statement of financial position
28 February 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible assets
6
31,172
37,108
Investments
7
243,419
123,976
---------
---------
274,591
161,084
Current assets
Stocks
11,093
12,655
Debtors
8
2,254
2,000
Cash at bank and in hand
4,473,145
4,151,419
-----------
-----------
4,486,492
4,166,074
Creditors: Amounts falling due within one year
9
( 148,807)
( 147,611)
-----------
-----------
Net current assets
4,337,685
4,018,463
-----------
-----------
Total assets less current liabilities
4,612,276
4,179,547
Provisions
Taxation including deferred tax
( 14,169)
( 9,132)
-----------
-----------
Net assets
4,598,107
4,170,415
-----------
-----------
Capital and reserves
Called up share capital
2,000
2,000
Share premium account
448,002
448,002
Profit and loss account
4,148,105
3,720,413
-----------
-----------
Shareholders funds
4,598,107
4,170,415
-----------
-----------
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 income and retained earnings has not been delivered.
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Golf Explorations Limited
Statement of financial position (continued)
28 February 2025
These financial statements were approved by the board of directors and authorised for issue on 29 April 2025 , and are signed on behalf of the board by:
Mrs M E Daniels
Director
Company registration number: 03684595
Golf Explorations Limited
Notes to the financial statements
Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Home Farm, West End, West Caister, Great Yarmouth, Norfolk, NR30 5ST. The trading address is Marine Parade, Great Yarmouth, Norfolk, NR30 2ER.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 be paid or recovered 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and 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
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of employees during the year was 7 (2024: 5 ).
5. Intangible assets
Goodwill
£
Cost
At 1 March 2024 and 28 February 2025
582,650
---------
Amortisation
At 1 March 2024 and 28 February 2025
582,650
---------
Carrying amount
At 28 February 2025
---------
At 29 February 2024
---------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2024 and 28 February 2025
4,166
39,097
112,768
18,177
174,208
------
-------
---------
-------
---------
Depreciation
At 1 March 2024
3,982
20,982
96,133
16,003
137,100
Charge for the year
182
2,717
2,494
543
5,936
------
-------
---------
-------
---------
At 28 February 2025
4,164
23,699
98,627
16,546
143,036
------
-------
---------
-------
---------
Carrying amount
At 28 February 2025
2
15,398
14,141
1,631
31,172
------
-------
---------
-------
---------
At 29 February 2024
184
18,115
16,635
2,174
37,108
------
-------
---------
-------
---------
7. Investments
Other investments other than loans
£
Cost
At 1 March 2024
123,976
Additions
95,635
Revaluations
23,808
---------
At 28 February 2025
243,419
---------
Impairment
At 1 March 2024 and 28 February 2025
---------
Carrying amount
At 28 February 2025
243,419
---------
At 29 February 2024
123,976
---------
8. Debtors
2025
2024
£
£
Other debtors
2,254
2,000
------
------
9. Creditors: Amounts falling due within one year
2025
2024
£
£
Trade creditors
109
90
Social security and other taxes
136,793
122,365
Other creditors
11,905
25,156
---------
---------
148,807
147,611
---------
---------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2025
2024
£
£
Not later than 1 year
51,500
51,500
Later than 1 year and not later than 5 years
51,500
-------
---------
51,500
103,000
-------
---------