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COMPANY REGISTRATION NUMBER: 05207304
Cardiff Golf Centre Ltd
Filleted Unaudited Financial Statements
31 March 2025
Cardiff Golf Centre Ltd
Statement of Financial Position
31 March 2025
31 Mar 25
31 Oct 23
Note
£
£
Fixed assets
Tangible assets
6
122,916
169,815
Current assets
Stocks
156,418
134,202
Debtors
7
921,174
879,771
Cash at bank and in hand
156,401
118,473
--------------
--------------
1,233,993
1,132,446
Creditors: amounts falling due within one year
8
394,072
222,720
--------------
--------------
Net current assets
839,921
909,726
-----------
--------------
Total assets less current liabilities
962,837
1,079,541
Creditors: amounts falling due after more than one year
9
72,678
158,583
Provisions
19,000
31,000
-----------
--------------
Net assets
871,159
889,958
-----------
--------------
Capital and reserves
Called up share capital
326,600
326,600
Profit and loss account
544,559
563,358
-----------
-----------
Shareholders funds
871,159
889,958
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cardiff Golf Centre Ltd
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 12 August 2025 , and are signed on behalf of the board by:
Mr N Ramadan
Director
Company registration number: 05207304
Cardiff Golf Centre Ltd
Notes to the Financial Statements
Period from 1 November 2023 to 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Began Road, Old St Mellons, Cardiff, CF3 6XJ, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
33% and 25% Straight line
Fixtures and fittings
-
5% straight line
Motor vehicles
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 34 (2023: 32 ).
5. Tax on profit
Major components of tax expense
Period from
1 Nov 23 to
Year to
31 Mar 25
31 Oct 23
£
£
Current tax:
UK current tax expense
31,890
18,208
Adjustments in respect of prior periods
7,000
---------
---------
Total current tax
38,890
18,208
---------
---------
Deferred tax:
Origination and reversal of timing differences
( 19,000)
31,000
---------
---------
Tax on profit
19,890
49,208
---------
---------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the period is lower than (2023: higher than) the standard rate of corporation tax in the UK of 25 % (2023: 22.07 %).
Period from
1 Nov 23 to
Year to
31 Mar 25
31 Oct 23
£
£
Profit on ordinary activities before taxation
101,091
101,288
-----------
-----------
Profit on ordinary activities by rate of tax
25,273
22,354
Effect of expenses not deductible for tax purposes
333
Effect of capital allowances and depreciation
10,434
6,519
Effect of revenue exempt from tax
( 3,121)
Effect of different UK tax rates on some earnings
(696)
Utilisation of tax losses
( 10,998)
Deferred tax
( 12,000)
31,000
-----------
-----------
Tax on profit
19,890
49,208
-----------
-----------
6. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2023
8,049
254,603
139,401
144,982
547,035
Additions
39,907
39,907
Disposals
( 22,750)
( 22,750)
--------
-----------
-----------
-----------
-----------
At 31 March 2025
8,049
294,510
139,401
122,232
564,192
--------
-----------
-----------
-----------
-----------
Depreciation
At 1 November 2023
251,027
75,871
50,322
377,220
Charge for the period
15,107
34,484
35,446
85,037
Disposals
( 20,981)
( 20,981)
--------
-----------
-----------
-----------
-----------
At 31 March 2025
266,134
110,355
64,787
441,276
--------
-----------
-----------
-----------
-----------
Carrying amount
At 31 March 2025
8,049
28,376
29,046
57,445
122,916
--------
-----------
-----------
-----------
-----------
At 31 October 2023
8,049
3,576
63,530
94,660
169,815
--------
-----------
-----------
-----------
-----------
7. Debtors
31 Mar 25
31 Oct 23
£
£
Trade debtors
240,055
33,053
Amounts owed by group undertakings and undertakings in which the company has a participating interest
681,119
830,871
Other debtors
15,847
-----------
-----------
921,174
879,771
-----------
-----------
8. Creditors: amounts falling due within one year
31 Mar 25
31 Oct 23
£
£
Bank loans and overdrafts
47,243
43,469
Trade creditors
45,965
56,891
Corporation tax
31,890
18,208
Social security and other taxes
86,985
6,190
Hire purchase and finance lease agreements
8,922
15,273
Other creditors
173,067
82,689
-----------
-----------
394,072
222,720
-----------
-----------
9. Creditors: amounts falling due after more than one year
31 Mar 25
31 Oct 23
£
£
Bank loans and overdrafts
24,231
96,464
Other creditors
48,447
62,119
---------
-----------
72,678
158,583
---------
-----------
10. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
31 Mar 25
31 Oct 23
£
£
Not later than 1 year
8,922
15,273
Later than 1 year and not later than 5 years
48,447
62,119
---------
---------
57,369
77,392
---------
---------
The company has entered into hire purchase contracts within the period where the Net Book Value of assets under hire purchase amounted to £56,102 (2023: £92,109).
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
31 Mar 25
31 Oct 23
£
£
Included in provisions
19,000
31,000
---------
---------
The deferred tax account consists of the tax effect of timing differences in respect of:
31 Mar 25
31 Oct 23
£
£
Accelerated capital allowances
19,000
31,000
---------
---------
12. Financial instruments
The carrying amount for each category of financial instrument is as follows:
31 Mar 25
31 Oct 23
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
1,176,322
1,064,544
--------------
--------------
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
339,449
356,905
-----------
-----------
13. Directors' advances, credits and guarantees
The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end, the amount outstanding from the director was £NIL (2022: £NIL).