Golf Carts Europe Limited

Financial Statements for the Period 1 August 2024 to 30 June 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L Holmes

Mr R Magill

REGISTERED OFFICE:

85 Great Portland Street

London

W1W 7LT

REGISTERED NUMBER:

13522020 (England and Wales)

ACCOUNTANTS:

Hargreaves Owen Ltd

Red Sky House

Fairclough Hall, Halls Green

Weston

Hertfordshire

SG4 7DP

FIXED ASSETS

Tangible assets

4

-

35,832

CURRENT ASSETS

Stocks

-

15,000

Debtors

5

332,714

180,952

Cash at bank

19,366

29,989

352,080

225,941

CREDITORS

Amounts falling due within one year

6

320,904

201,887

NET CURRENT ASSETS

31,176

24,054

TOTAL ASSETS LESS CURRENT
LIABILITIES

31,176

59,886

CREDITORS

Amounts falling due after more than one
year

7

-

32,225

NET ASSETS

31,176

27,661

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

31,076

27,561

SHAREHOLDERS' FUNDS

31,176

27,661

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2025 and were signed on its behalf by:

Mr L Holmes - Director

1.	STATUTORY INFORMATION

Golf Carts Europe Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 August 2024

52,763

Disposals

(52,763

)

At 30 June 2025

-

DEPRECIATION

At 1 August 2024

16,931

Eliminated on disposal

(16,931

)

At 30 June 2025

-

NET BOOK VALUE

At 30 June 2025

-

At 31 July 2024

35,832

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

148,671

17,742

Intercompany loan

119,777

Other debtor

60,000

30,000

Called up share capital not paid

99

Prepayments

4,167

13,334

332,714

180,952

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Hire purchase contracts

10,499

14,250

Trade creditors

9,120

761

Corporation tax

4,055

3,037

VAT

271,977

179,649

Directors' current accounts

22,253

2,190

Accrued expenses

3,000

2,000

320,904

201,887

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Hire purchase contracts

-

32,225

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

53

Ordinary X shares

£1

53

47

Ordinary Y shares

£1

47

100

9.	RELATED PARTY DISCLOSURES

During the year, the company paid consultancy fees amounting to £37,795 to LH Management Consultants Ltd, a company in which Mr L Holmes has a controlling interest. Consultancy fees amounting to £21,300 were paid to Investment Wedge Ltd, a company in which Mr R Magill has a controlling interest.

A loan of £20,000 was made to Golf Travel Hub Ltd, a company in which Mr R Magill has a controlling interest.