Golf Marketing Services Holdings Limited - Period Ending 2019-11-30

Registration number: 04332576

Golf Marketing Services Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2019

RS Partnership Ltd
Chartered Certified Accountants
Riverside House
14 Prospect Place
Welwyn
Hertfordshire
AL6 9EN

 

Golf Marketing Services Holdings Limited

Contents

Company Information	1
Statement of Directors' Responsibilities	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 7

Golf Marketing Services Holdings Limited

Company Information

Directors

Mr Philip Craghill Mr Samuel Joseph Patrick Elder

Company secretary

Mr Philip Craghill

Registered office

14A High Street Welwyn Hertfordshire AL6 9EQ

Accountants

RS Partnership Ltd Chartered Certified Accountants Riverside House 14 Prospect Place Welwyn Hertfordshire AL6 9EN

Page 1

Golf Marketing Services Holdings Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements 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 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.

Page 2

Golf Marketing Services Holdings Limited

(Registration number: 04332576)
Balance Sheet as at 30 November 2019

	Note	2019 £	2018 £
Fixed assets
Investments	3	3	3
Current assets
Debtors	4	12,500	12,500
Cash at bank and in hand		1	1
		12,501	12,501
Creditors: Amounts falling due within one year	5	(3)	(3)
Net current assets		12,498	12,498
Net assets		12,501	12,501
Capital and reserves
Called up share capital	6	3,334	6,668
Capital redemption reserve		9,167	5,833
Total equity		12,501	12,501

For the financial year ending 30 November 2019 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 11 February 2020 and signed on its behalf by:
 

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

Mr Philip Craghill
Company secretary and director

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

Golf Marketing Services Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2019

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
14A High Street
Welwyn
Hertfordshire
AL6 9EQ
UK

The principal place of business is:
14A High Street
Welwyn
Hertfordshire
AL6 9EQ
UK

These financial statements were authorised for issue by the Board on 11 February 2020.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The presentation currency of the financial statements is the Pounds Sterling (£)

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Page 4

Golf Marketing Services Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2019

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Page 5

Golf Marketing Services Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2019

3	Investments

	2019 £	2018 £
Investments in subsidiaries	3	3

Subsidiaries	£
Cost or valuation
At 1 December 2018	200,003
Provision
At 1 December 2018	200,000
Carrying amount
At 30 November 2019	3
At 30 November 2018	3

Page 6

Golf Marketing Services Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2019

4

Debtors

	2019 £	2018 £
Other debtors	12,500	12,500
	12,500	12,500

5

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Other creditors	3	3

6	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares C of £1 each	-	-	3,334	3,334
Ordinary shares D of £1 each	3,333	3,333	3,333	3,333
Ordinary shares E of £1 each	1	1	1	1
	3,334	3,334	6,668	6,668

Page 7