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Registered number:
FOR THE YEAR ENDED 31 OCTOBER 2025
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AFFORDABLE GOLF LTD.
COMPANY INFORMATION
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AFFORDABLE GOLF LTD.
CONTENTS
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AFFORDABLE GOLF LTD.
STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The directors present the strategic report for the year ended 31 October 2025.
The principal activity of the business is the sale of golf equipment both in store and online as well as the provision of golf lessons, repairs and other golf services.
The Directors are pleased with the performance of the Company in the year. It was a productive year for the company with all staff working hard to adapt and develop the business to remain competitive within an increasing strong online and retail environment.
The Company made significant development in systems and reporting this year. This investment has reinforced and improved stock control and the ability to monitor and implement different strategies for both buying and selling, improving both internal controls, stock mix and importantly customer experience both online and in store.
The Company has invested in additional warehouse expanding the current foot print along with the development of both second-hand and improved supplier relationships adding revenue and footfall both online and into stores.
The company relies on the efficient and uninterrupted operation of both its IT system and the internet. System and internet problems may result in customer orders going unprocessed resulting in delays to order deliveries.
The company reduces its exposure to these risks by ensuring that its systems are continuously monitored and
updated. Internal systems have strong controls and measures in place to reduce risk of downtime and security breaches. Insurance is in place to protect against cyber risk.
The Company's key financial and other performance indicators during the period were as follows;
Gross Profit Margin: 35.1% (2024 - 34.5%) EBITDA: £2,835,464 (2024- £1,305,366) Stock: £6,138,969 (2024 - £4,873,623)
This report was approved by the board and signed on its behalf.
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AFFORDABLE GOLF LTD.
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2025
The directors present their report and the financial statements for the year ended 31 October 2025.
The directors who held office during the year and up to date of signature of the financial statements were as follows:
The auditors, MHA, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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AFFORDABLE GOLF LTD.
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
Medium-sized companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
This report was approved by the board on
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AFFORDABLE GOLF LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AFFORDABLE GOLF LTD.
We have audited the financial statements of Affordable Golf Ltd. (the 'Company') for the year ended 31 October 2025, which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity, the Statement of Cash Flows, and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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AFFORDABLE GOLF LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AFFORDABLE GOLF LTD. (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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AFFORDABLE GOLF LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AFFORDABLE GOLF LTD. (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
• Enquiry of management, those charged with governance around actual and potential litigation and claims; • Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; • Reviewing minutes of meetings of those charged with governance; • Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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AFFORDABLE GOLF LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AFFORDABLE GOLF LTD. (CONTINUED)
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of MHA, Statutory Auditor
6 St Colme Street
Edinburgh
EH3 6AD
Date:
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)
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AFFORDABLE GOLF LTD.
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2025
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AFFORDABLE GOLF LTD.
REGISTERED NUMBER: SC350505
BALANCE SHEET
AS AT 31 OCTOBER 2025
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 12 to 22 form part of these financial statements.
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AFFORDABLE GOLF LTD.
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2025
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AFFORDABLE GOLF LTD.
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2025
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AFFORDABLE GOLF LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Affordable Golf Ltd. is a private company limited by shares incorporated in Scotland. The registered office is 48 Kelvin Avenue, Hillington, Glasgow, G52 4LT.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Functional and presentation currency
Transactions and balances
Turnover from the sale of retail goods is recognised on sale to the customer, which is considered the point of delivery. Turnover from the sale of goods via the internet is recognised when the risks and rewards of the goods is passed to the customer. For goods that are delivered to the customer this is the point of acceptance of the goods by the customer, and for 'click and collect' transactions this is the point of collection by the customer.
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AFFORDABLE GOLF LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
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AFFORDABLE GOLF LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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AFFORDABLE GOLF LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with 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.
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AFFORDABLE GOLF LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Key sources of estimation uncertainty The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows. Stock provision Consideration is given to the requirement for a stock provision during the preparation of the financial statements. The ageing analysis of stock is reviewed to ensure that any old and obsolete items of stock are identified on a timely basis and provided against as required.
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AFFORDABLE GOLF LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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AFFORDABLE GOLF LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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AFFORDABLE GOLF LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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AFFORDABLE GOLF LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
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AFFORDABLE GOLF LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £36,566 (2024 - £30,145). Contributions totalling £9,341 (2024 - £6,538) were payable to the fund at the balance sheet date and are included in creditors.
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AFFORDABLE GOLF LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
Dividends totalling £50,000 (2024: £nil) were paid in the year in respect of shares held by the company's directors.
Included within other debtors is £643,080 (2024: £257,652) in respect of loans made to directors of the company. Interest has been charged on the outstanding amount at the prevailing market rate.
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