Registered number
05155172
Plymouth Golf Centre Limited
Unaudited Filleted Accounts
30 September 2024
Plymouth Golf Centre Limited
Registered number: 05155172
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 651,881 704,573
Current assets
Stocks 15,000 15,000
Debtors 4 36,574 176,226
Cash at bank and in hand 98,913 69,682
150,487 260,908
Creditors: amounts falling due within one year 5 (340,996) (331,366)
Net current liabilities (190,509) (70,458)
Total assets less current liabilities 461,372 634,115
Creditors: amounts falling due after more than one year 6 (371,491) (421,413)
Provisions for liabilities (43,791) (47,702)
Net assets 46,090 165,000
Capital and reserves
Called up share capital 110 110
Profit and loss account 45,980 164,890
Shareholder's funds 46,090 165,000
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Jonathan Philpotts
Director
Approved by the board on 12 June 2025
Plymouth Golf Centre Limited
Notes to the Accounts
for the year ended 30 September 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:
Leasehold land and buildings over the lease term
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
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.
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 28 22
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 858,709 451,594 11,834 1,322,137
Additions 12,409 11,354 - 23,763
Disposals - (415) - (415)
At 30 September 2024 871,118 462,533 11,834 1,345,485
Depreciation
At 1 October 2023 311,626 301,353 4,585 617,564
Charge for the year 51,610 23,078 1,450 76,138
On disposals - (98) - (98)
At 30 September 2024 363,236 324,333 6,035 693,604
Net book value
At 30 September 2024 507,882 138,200 5,799 651,881
At 30 September 2023 547,083 150,241 7,249 704,573
4 Debtors 2024 2023
£ £
Trade debtors 28,263 26,008
Other debtors 8,311 150,218
36,574 176,226
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 76,451 49,984
Obligations under finance lease and hire purchase contracts 28,506 41,006
Trade creditors 37,159 42,709
Taxation and social security costs 157,030 105,325
Other creditors 41,850 92,342
340,996 331,366
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 318,593 336,266
Obligations under finance lease and hire purchase contracts 52,898 81,404
Other creditors - 3,743
371,491 421,413
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 150,000 165,000
Secured bank loans 336,295 345,000
The bank has a fixed and floating charge over the company's assets.
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Jonathan Philpotts
Short term interest paying loan 146,317 1,646 (147,963) -
146,317 1,646 (147,963) -
9 Controlling party
Jonathan Philpotts, the company's director, is the controlling party of the company due to his 100% shareholding.
10 Other information
Plymouth Golf Centre Limited is a private company limited by shares and incorporated in England. Its registered office is:
70 Haye Road
Plymouth
PL9 8AT
Plymouth Golf Centre Limited 05155172 false 2023-10-01 2024-09-30 2024-09-30 VT Final Accounts April 2025 Jonathan Philpotts No description of principal activity 05155172 2022-10-01 2023-09-30 05155172 core:WithinOneYear 2023-09-30 05155172 core:AfterOneYear 2023-09-30 05155172 core:ShareCapital 2023-09-30 05155172 core:RetainedEarningsAccumulatedLosses 2023-09-30 05155172 2023-10-01 2024-09-30 05155172 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05155172 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 05155172 bus:Director40 2023-10-01 2024-09-30 05155172 1 2023-10-01 2024-09-30 05155172 2 2023-10-01 2024-09-30 05155172 core:LandBuildings 2023-10-01 2024-09-30 05155172 core:PlantMachinery 2023-10-01 2024-09-30 05155172 core:Vehicles 2023-10-01 2024-09-30 05155172 bus:Director1 2023-10-01 2024-09-30 05155172 bus:Director1 1 2023-10-01 2024-09-30 05155172 countries:England 2023-10-01 2024-09-30 05155172 bus:FRS102 2023-10-01 2024-09-30 05155172 bus:FilletedAccounts 2023-10-01 2024-09-30 05155172 2024-09-30 05155172 core:WithinOneYear 2024-09-30 05155172 core:AfterOneYear 2024-09-30 05155172 core:ShareCapital 2024-09-30 05155172 core:RetainedEarningsAccumulatedLosses 2024-09-30 05155172 core:LandBuildings 2024-09-30 05155172 core:PlantMachinery 2024-09-30 05155172 core:Vehicles 2024-09-30 05155172 bus:Director1 1 2024-09-30 05155172 2023-09-30 05155172 core:LandBuildings 2023-09-30 05155172 core:PlantMachinery 2023-09-30 05155172 core:Vehicles 2023-09-30 05155172 bus:Director1 1 2023-09-30 iso4217:GBP xbrli:pure