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Golfantasia Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

Registration number: 4884148

 

Golfantasia Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Golfantasia Limited

(Registration number: 4884148)
Statement of financial position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

7,738

10,061

Current assets

 

Debtors

5

1,221,074

659,823

Cash at bank and in hand

 

3,739

657

 

1,224,813

660,480

Creditors: Amounts falling due within one year

6

(142,876)

(40,189)

Net current assets

 

1,081,937

620,291

Total assets less current liabilities

 

1,089,675

630,352

Creditors: Amounts falling due after more than one year

6

(388,043)

-

Provisions for liabilities

(1,725)

(1,717)

Net assets

 

699,907

628,635

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

699,905

628,633

Shareholders' funds

 

699,907

628,635

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Income statement.

Approved and authorised by the director on 22 July 2025
 

.........................................

Mr M Devine
Director

 

Golfantasia Limited

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

1

General information

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

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the director on 22 July 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 except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

 

Golfantasia Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

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

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class

Depreciation method and rate

Furniture & Fittings

25% reducing balance

Leasehold additions

Over term of the lease

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Golfantasia Limited

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

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 the director) during the year, was 11 (2024 - 12).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

239,356

98,533

337,889

At 31 March 2025

239,356

98,533

337,889

Depreciation

At 1 April 2024

238,056

89,772

327,828

Charge for the year

100

2,223

2,323

At 31 March 2025

238,156

91,995

330,151

Carrying amount

At 31 March 2025

1,200

6,538

7,738

At 31 March 2024

1,300

8,761

10,061

 

Golfantasia Limited

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

5

Debtors

2025
£

2024
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

924,051

302,159

Other debtors

297,023

357,664

1,221,074

659,823

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

91,304

-

Taxation and social security

 

36,240

37,306

Accruals and deferred income

 

15,332

2,400

Other creditors

 

-

483

 

142,876

40,189

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

388,043

-

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       
 

Golfantasia Limited

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

8

Related party transactions

Transactions with the director

2025

At 1 April 2024
£

Repayments by director
£

At 31 March 2025
£

Mr M Devine

2.25% director loan repayable on demand

273,459

(65,739)

207,720

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

Mr M Devine

2.25% director loan repayable on demand

258,679

14,780

273,459