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South West Adventure Golf Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

Registration number: 08354705

 

South West Adventure Golf Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 6

 

South West Adventure Golf Limited

(Registration number: 08354705)
Statement of financial position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

222,930

253,570

Other financial assets

5

-

12,354

 

222,930

265,924

Current assets

 

Stocks

6

270

5,910

Debtors

7

53,673

6,120

Cash at bank and in hand

 

700

700

 

54,643

12,730

Creditors: Amounts falling due within one year

8

(237,582)

(247,648)

Net current liabilities

 

(182,939)

(234,918)

Total assets less current liabilities

 

39,991

31,006

Provisions for liabilities

(36,327)

(34,385)

Net assets/(liabilities)

 

3,664

(3,379)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

3,564

(3,479)

Shareholders' funds/(deficit)

 

3,664

(3,379)

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.

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 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 directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the Board on 17 July 2025 and signed on its behalf by:
 

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

Mr M Devine
Director

 

South West Adventure Golf 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 Board on 17 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 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.

Government grants

The entity recognises grant income at the same time as any underlying expenditure. During the year the entity was in receipt of grant income from the Job Retention Scheme (JRS), Small Buisness Grants Fund (SBGF) and he Retail, Hospitality and Leisure Business Grants Fund (RHLGF). Income from the SBGF and RHLGF was recognised when the funds were received, and income from the JRS was recognised at the same time as the underlying salary expenditure.

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.

 

South West Adventure Golf 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

Course fittings

10% reducing balance

Equipment

25% reducing balance

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.

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

South West Adventure Golf 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 directors) during the year, was 9 (2024 - 7).

4

Tangible assets

Course fittings and equipment
£

Total
£

Cost or valuation

At 1 April 2024

599,586

599,586

At 31 March 2025

599,586

599,586

Depreciation

At 1 April 2024

346,016

346,016

Charge for the year

30,640

30,640

At 31 March 2025

376,656

376,656

Carrying amount

At 31 March 2025

222,930

222,930

At 31 March 2024

253,570

253,570

 

South West Adventure Golf Limited

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

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2024

12,354

12,354

Disposals

(12,354)

(12,354)

At 31 March 2025

-

-

Impairment

Carrying amount

At 31 March 2025

-

-

6

Stocks

2025
£

2024
£

Other inventories

270

5,910

7

Debtors

2025
£

2024
£

Prepayments

6,341

6,120

Other debtors

47,332

-

53,673

6,120

 

South West Adventure Golf Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

10,104

16,788

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

197,630

206,247

Taxation and social security

 

21,509

21,647

Accruals and deferred income

 

2,475

2,400

Other creditors

 

5,864

566

 

237,582

247,648

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100