Company registration number SC357436 (Scotland)
MONIFIETH GOLF LINKS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
MONIFIETH GOLF LINKS LIMITED
CONTENTS
Page
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
MONIFIETH GOLF LINKS LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF MONIFIETH GOLF LINKS LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Monifieth Golf Links Limited for the year ended 31 March 2025 set out on pages 2 to 8 from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants of Scotland we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Monifieth Golf Links Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Monifieth Golf Links Limited and state those matters that we have agreed to state to the Board of Directors of Monifieth Golf Links Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Monifieth Golf Links Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Monifieth Golf Links Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Monifieth Golf Links Limited. You consider that Monifieth Golf Links Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Monifieth Golf Links Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

MMG Chartered Accountants
Chapelshade House
78-84 Bell Street
Dundee
DD1 1RQ
Scotland
20 May 2025
MONIFIETH GOLF LINKS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
437,374
424,149
Current assets
Debtors
4
13,989
10,299
Cash at bank and in hand
511,827
656,728
525,816
667,027
Creditors: amounts falling due within one year
Loans and overdrafts
5,210
17,710
Taxation and social security
14,858
16,607
Other creditors
5
684,516
664,633
704,584
698,950
Net current liabilities
(178,768)
(31,923)
Total assets less current liabilities
258,606
392,226
Creditors: amounts falling due after more than one year
Loans and overdrafts
25,730
31,088
(25,730)
(31,088)
Provisions for liabilities
6
(45,910)
(34,743)
Net assets
186,966
326,395
Capital and reserves
Called up share capital
-
0
-
0
Other reserves
5,000
5,000
Profit and loss reserves
181,966
321,395
Total equity
186,966
326,395
MONIFIETH GOLF LINKS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 3 -

For the financial year ended 31 March 2025 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 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 Companies Act 2006 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.

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

The financial statements were approved by the board of directors and authorised for issue on 20 May 2025 and are signed on its behalf by:
A MacKinnon
Director
Company registration number SC357436 (Scotland)
MONIFIETH GOLF LINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information

Monifieth Golf Links Limited is a private company limited by shares incorporated in Scotland. The registered office is , 6 Princes Street, Monifieth, DD5 4AW.

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
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
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:

Improvements to property
not available
Plant and equipment
25% on reducing balance and 10% on cost
Fixtures and fittings
4% on cost
Sprinkler Sysytem
25% on reducing balance
Solar System
5% on reducing balance
Booking System
25% on cost

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.

1.4
Taxation

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

MONIFIETH GOLF LINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
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.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

MONIFIETH GOLF LINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
2
Employees

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

2025
2024
Number
Number
Total
18
18
MONIFIETH GOLF LINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
3
Tangible fixed assets
Improvements to property
Carpark and paths
Plant and equipment
Fixtures and fittings
Sprinkler Sysytem
Solar System
Booking System
Total
£
£
£
£
£
£
£
£
Cost
At 1 April 2024
57,307
92,946
507,527
212,700
152,817
18,334
2,100
1,043,731
Additions
-
0
-
0
82,728
-
0
-
0
-
0
-
82,728
Disposals
-
0
-
0
(42,535)
-
0
-
0
-
0
-
(42,535)
At 31 March 2025
57,307
92,946
547,720
212,700
152,817
18,334
2,100
1,083,924
Depreciation and impairment
At 1 April 2024
7,121
-
0
410,333
69,856
121,919
8,253
2,100
619,582
Depreciation charged in the year
2,501
-
0
44,157
10,932
7,719
916
-
66,225
Eliminated in respect of disposals
-
0
-
0
(39,257)
-
0
-
0
-
0
-
(39,257)
At 31 March 2025
9,622
-
0
415,233
80,788
129,638
9,169
2,100
646,550
Carrying amount
At 31 March 2025
47,685
92,946
132,487
131,912
23,179
9,165
-
437,374
At 31 March 2024
50,186
92,946
97,194
142,844
30,898
10,081
-
424,149
MONIFIETH GOLF LINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
118
225
Other debtors
13,871
10,074
13,989
10,299
5
Other creditors falling due within one year
2025
2024
£
£
Trade creditors
21,016
58,875
Income in advance
660,247
601,383
Other creditors
3,253
4,375
684,516
664,633
6
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
45,910
34,743
7
RELATED PARTY DISCLOSURES

The directors, other than those representing Angus Council and honorary members, were all members of the Monifieth Golf Links and each paid an annual subscription.

8
ULTIMATE CONTROLLING PARTY

The company is limited by guarantee and has no share capital. The company is therefore controlled by the members of the board.

9
Other Reserves

Other reserves are the funds from the Graeme Cooper Memorial Reserve. The purpose of this is to invest the interest into junior coaching.

 

2025-03-312024-04-01falsefalsefalse20 May 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityA MacKinnonC CairnieC FotheringhamM DonaldC HutcheonE McMillanH DoranMr William LambieJohn DuncanJohn HutcheonDavid MoncurMark HicksonJ KaneSC3574362024-04-012025-03-31SC3574362025-03-31SC3574362024-03-31SC357436core:LeaseholdImprovements2025-03-31SC357436core:ConstructionInProgressAssetsUnderConstruction2025-03-31SC357436core:PlantMachinery2025-03-31SC357436core:FurnitureFittings2025-03-31SC357436core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2025-03-31SC357436core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment2025-03-31SC357436core:LeaseholdImprovements2024-03-31SC357436core:ConstructionInProgressAssetsUnderConstruction2024-03-31SC357436core:PlantMachinery2024-03-31SC357436core:FurnitureFittings2024-03-31SC357436core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-03-31SC357436core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment2024-03-31SC357436core:CurrentFinancialInstrumentscore:WithinOneYear2025-03-31SC357436core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-31SC357436core:CurrentFinancialInstruments2025-03-31SC357436core:CurrentFinancialInstruments2024-03-31SC357436core:Non-currentFinancialInstruments2025-03-31SC357436core:Non-currentFinancialInstruments2024-03-31SC357436core:ShareCapital2025-03-31SC357436core:ShareCapital2024-03-31SC357436core:OtherMiscellaneousReserve2025-03-31SC357436core:OtherMiscellaneousReserve2024-03-31SC357436core:RetainedEarningsAccumulatedLosses2025-03-31SC357436core:RetainedEarningsAccumulatedLosses2024-03-31SC357436bus:Director12024-04-012025-03-31SC357436core:LeaseholdImprovements2024-04-012025-03-31SC357436core:PlantMachinery2024-04-012025-03-31SC357436core:FurnitureFittings2024-04-012025-03-31SC357436core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-04-012025-03-31SC357436core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment2024-04-012025-03-31SC3574362023-04-012024-03-31SC357436core:LeaseholdImprovements2024-03-31SC357436core:ConstructionInProgressAssetsUnderConstruction2024-03-31SC357436core:PlantMachinery2024-03-31SC357436core:FurnitureFittings2024-03-31SC357436core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-03-31SC357436core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment2024-03-31SC3574362024-03-31SC357436core:ConstructionInProgressAssetsUnderConstruction2024-04-012025-03-31SC357436core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment2024-04-012025-03-31SC357436core:WithinOneYear2025-03-31SC357436core:WithinOneYear2024-03-31SC35743612025-03-31SC35743622025-03-31SC357436bus:PrivateLimitedCompanyLtd2024-04-012025-03-31SC357436bus:SmallCompaniesRegimeForAccounts2024-04-012025-03-31SC357436bus:FRS1022024-04-012025-03-31SC357436bus:AuditExemptWithAccountantsReport2024-04-012025-03-31SC357436bus:Director22024-04-012025-03-31SC357436bus:Director32024-04-012025-03-31SC357436bus:Director42024-04-012025-03-31SC357436bus:Director52024-04-012025-03-31SC357436bus:Director62024-04-012025-03-31SC357436bus:Director72024-04-012025-03-31SC357436bus:Director82024-04-012025-03-31SC357436bus:Director92024-04-012025-03-31SC357436bus:Director102024-04-012025-03-31SC357436bus:Director112024-04-012025-03-31SC357436bus:Director122024-04-012025-03-31SC357436bus:CompanySecretary12024-04-012025-03-31SC357436bus:FullAccounts2024-04-012025-03-31xbrli:purexbrli:sharesiso4217:GBP