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Registrar

Registration number: 13843932

Project Golf Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Project Golf Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Project Golf Limited

Company Information

Directors

J P Beatty

C Bonner

Registered office

48-54 Moorgate
London
EC2R 6EJ

Bankers

Lloyds Bank Plc
98 Victoria Street
London
SW1E 5JL

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Project Golf Limited

(Registration number: 13843932)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

72,937

101,924

Current assets

 

Stocks

5

6,541

3,294

Debtors

6

27,702

30,764

Cash at bank and in hand

 

203,770

130,579

 

238,013

164,637

Creditors: Amounts falling due within one year

7

(99,719)

(114,304)

Net current assets

 

138,294

50,333

Total assets less current liabilities

 

211,231

152,257

Provisions for liabilities

(18,234)

(9,695)

Net assets

 

192,997

142,562

Capital and reserves

 

Called up share capital

8

14,285

14,285

Share premium reserve

85,714

85,714

Retained earnings

92,998

42,563

Shareholders' funds

 

192,997

142,562

For the financial year ended 31 January 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 June 2025 and signed on its behalf by:
 

J P Beatty
Director

C Bonner
Director

 
     
 

Project Golf Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office and principle place of business is: 48-54 Moorgate, London, EC2R 6EJ.

These financial statements were authorised for issue by the Board on 10 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of golf clubs and provision of range services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

 

Project Golf Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

10% Straight line method

Plant & machinery

20% Straight line method

Office equipment, fixtures & fittings

20% & 33% Straight line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

 

Project Golf Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Leasehold improvements
£

Office equipment, fixtures & fittings
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 February 2024

13,087

76,592

54,363

144,042

Additions

-

7,667

1,960

9,627

Disposals

-

(13,400)

-

(13,400)

At 31 January 2025

13,087

70,859

56,323

140,269

Depreciation

At 1 February 2024

1,853

25,782

14,484

42,119

Charge for the year

1,309

21,838

11,201

34,348

Eliminated on disposal

-

(9,135)

-

(9,135)

At 31 January 2025

3,162

38,485

25,685

67,332

Carrying amount

At 31 January 2025

9,925

32,374

30,638

72,937

At 31 January 2024

11,235

50,810

39,879

101,924

5

Stocks

2025
£

2024
£

Stocks

6,541

3,294

6

Debtors

2025
£

2024
£

Prepayments

15,642

12,010

Other debtors

12,060

18,754

27,702

30,764

 

Project Golf Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

2,636

1,379

Taxation and social security

21,011

9,468

Accruals and deferred income

13,316

15,555

Other creditors

62,756

87,902

99,719

114,304

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

14,285

14,285

14,285

14,285

       

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £80,000 (2024 - £528,685).