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Company No: 10328982 (England and Wales)

PLONK GOLF LTD

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

PLONK GOLF LTD

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

PLONK GOLF LTD

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
PLONK GOLF LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 383,013 252,339
383,013 252,339
Current assets
Debtors 4 50,000 20,054
Cash at bank and in hand 5 27,872 13,520
77,872 33,574
Creditors: amounts falling due within one year 6 ( 521,724) ( 251,661)
Net current liabilities (443,852) (218,087)
Total assets less current liabilities (60,839) 34,252
Creditors: amounts falling due after more than one year 7 ( 206,182) ( 109,779)
Net liabilities ( 267,021) ( 75,527)
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 267,022 ) ( 75,528 )
Total shareholders' deficit ( 267,021) ( 75,527)

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Plonk Golf Ltd (registered number: 10328982) were approved and authorised for issue by the Director. They were signed on its behalf by:

E Scott
Director

20 August 2025

PLONK GOLF LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
PLONK GOLF LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
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

Plonk 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 15 Mentmore Terrace, London, E8 3PN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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:

Plant and machinery etc. 10 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.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 September 2023 716,344 716,344
Additions 199,356 199,356
At 31 August 2024 915,700 915,700
Accumulated depreciation
At 01 September 2023 464,005 464,005
Charge for the financial year 68,682 68,682
At 31 August 2024 532,687 532,687
Net book value
At 31 August 2024 383,013 383,013
At 31 August 2023 252,339 252,339

4. Debtors

2024 2023
£ £
Other debtors 50,000 20,054

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 27,872 13,520

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 166,308 57,540
Trade creditors 82,107 108,426
Other taxation and social security 82,034 83,496
Other creditors 191,275 2,199
521,724 251,661

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

2024 2023
£ £
Bank loans 206,182 109,779

There are no amounts included above in respect of which any security has been given by the small entity.