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Company No: 11202464 (England and Wales)

OVER THE TOP GOLF LTD

Unaudited Financial Statements
For the financial year ended 28 February 2025
Pages for filing with the registrar

OVER THE TOP GOLF LTD

Unaudited Financial Statements

For the financial year ended 28 February 2025

Contents

OVER THE TOP GOLF LTD

COMPANY INFORMATION

For the financial year ended 28 February 2025
OVER THE TOP GOLF LTD

COMPANY INFORMATION (continued)

For the financial year ended 28 February 2025
Directors N K Smith
O T Turnill
Registered office 9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
United Kingdom
Business address Unit 36, Glenmore Business Park
Chichester
West Sussex
PO19 7BJ
Company number 11202464 (England and Wales)
Accountant Kreston Reeves LLP
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF OVER THE TOP GOLF LTD

For the financial year ended 28 February 2025

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF OVER THE TOP GOLF LTD (continued)

For the financial year ended 28 February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Over The Top Golf Ltd for the financial year ended 28 February 2025 which comprise the Balance Sheet and the related notes 1 to 12 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Over The Top Golf Ltd 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 profit of Over The Top Golf Ltd. You consider that Over The Top Golf Ltd is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Over The Top Golf Ltd. 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.

This report is made solely to the Board of Directors of Over The Top Golf Ltd, 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 Over The Top Golf Ltd and state those matters that we have agreed to state to the Board of Directors of Over The Top Golf Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Over The Top Golf Ltd and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

12 May 2025

OVER THE TOP GOLF LTD

BALANCE SHEET

As at 28 February 2025
OVER THE TOP GOLF LTD

BALANCE SHEET (continued)

As at 28 February 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 63,983 61,225
63,983 61,225
Current assets
Stocks 4 536,676 375,466
Debtors 5 277,432 175,590
Investments 6 923 923
Cash at bank and in hand 128,385 141,838
943,416 693,817
Creditors: amounts falling due within one year 7 ( 599,454) ( 464,467)
Net current assets 343,962 229,350
Total assets less current liabilities 407,945 290,575
Creditors: amounts falling due after more than one year 8 ( 2,275) ( 11,375)
Provision for liabilities ( 14,488) ( 14,117)
Net assets 391,182 265,083
Capital and reserves
Called-up share capital 9 400 400
Profit and loss account 390,782 264,683
Total shareholders' funds 391,182 265,083

For the financial 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 financial statements of Over The Top Golf Ltd (registered number: 11202464) were approved and authorised for issue by the Board of Directors on 09 May 2025. They were signed on its behalf by:

O T Turnill
Director
OVER THE TOP GOLF LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
OVER THE TOP GOLF LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Over The Top Golf Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex, PO20 7AJ, United Kingdom.

The principal place of business is Unit 36, Glenmore Business Park, Chichester, West Sussex, PO19 7BJ.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings depreciated over the life of the lease
Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 7

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 March 2024 20,394 57,355 77,749
Additions 9,992 7,204 17,196
At 28 February 2025 30,386 64,559 94,945
Accumulated depreciation
At 01 March 2024 0 16,524 16,524
Charge for the financial year 1,853 12,585 14,438
At 28 February 2025 1,853 29,109 30,962
Net book value
At 28 February 2025 28,533 35,450 63,983
At 29 February 2024 20,394 40,831 61,225

4. Stocks

2025 2024
£ £
Stocks 536,676 375,466

5. Debtors

2025 2024
£ £
Trade debtors 240,779 140,753
Amounts owed by Group undertakings 9,118 0
Prepayments 12,235 19,537
Other debtors 15,300 15,300
277,432 175,590

6. Current asset investments

2025 2024
£ £
Current asset investments 923 923

7. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 9,175 9,100
Trade creditors 398,791 305,115
Taxation and social security 140,160 81,727
Other creditors 51,328 68,525
599,454 464,467

8. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans 2,275 11,375

9. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
204 Ordinary shares of £ 1.00 each 204 204
60 Ordinary A shares of £ 1.00 each 60 60
136 Ordinary B shares of £ 1.00 each 136 136
400 400

10. Financial commitments

Commitments

2025 2024
£ £
Total future minimum lease payments under non-cancellable operating lease 58,750 178,500

11. Related party transactions

The Company has taken advantage of the exemption in FRS 102 paragraph 33.1A from disclosing transactions with other members of the group.

12. Ultimate controlling party

Parent Company:

Southdowns Management Group Limited
9 Donnington Park, 85 Birdham Road, Chichester, United Kingdom, PO20 7AJ