Craig Donnelly Golf Ltd - Accounts to registrar (filleted) - small 18.2

Craig Donnelly Golf Ltd - Accounts to registrar (filleted) - small 18.2

CRAIG DONNELLY GOLF LTD. - Company Information

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IRIS Accounts Production v20.2.0.366 SC226558 Board of Directors Board of Directors 1.1.19 31.12.19 31.12.19 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC2265582018-12-31SC2265582019-12-31SC2265582019-01-012019-12-31SC2265582017-12-31SC2265582018-01-012018-12-31SC2265582018-12-31SC226558ns16:Scotland2019-01-012019-12-31SC226558ns15:PoundSterling2019-01-012019-12-31SC226558ns11:Director12019-01-012019-12-31SC226558ns11:Director22019-01-012019-12-31SC226558ns11:PrivateLimitedCompanyLtd2019-01-012019-12-31SC226558ns11:SmallEntities2019-01-012019-12-31SC226558ns11:AuditExempt-NoAccountantsReport2019-01-012019-12-31SC226558ns11:SmallCompaniesRegimeForDirectorsReport2019-01-012019-12-31SC226558ns11:SmallCompaniesRegimeForAccounts2019-01-012019-12-31SC226558ns11:FullAccounts2019-01-012019-12-31SC226558ns6:CurrentFinancialInstruments2019-12-31SC226558ns6:CurrentFinancialInstruments2018-12-31SC226558ns6:ShareCapital2019-12-31SC226558ns6:ShareCapital2018-12-31SC226558ns6:RetainedEarningsAccumulatedLosses2019-12-31SC226558ns6:RetainedEarningsAccumulatedLosses2018-12-31SC226558ns6:FurnitureFittings2019-01-012019-12-31SC226558ns6:ComputerEquipment2019-01-012019-12-31SC226558ns6:FurnitureFittings2018-12-31SC226558ns6:ComputerEquipment2018-12-31SC226558ns6:FurnitureFittings2019-12-31SC226558ns6:ComputerEquipment2019-12-31SC226558ns6:FurnitureFittings2018-12-31SC226558ns6:ComputerEquipment2018-12-31SC226558ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-12-31SC226558ns6:CurrentFinancialInstrumentsns6:WithinOneYear2018-12-31SC226558ns6:Secured2019-12-31SC226558ns6:Secured2018-12-31
REGISTERED NUMBER: SC226558 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2019

for

Craig Donnelly Golf Ltd
Craig Donnelly Golf Ltd (Registered number: SC226558)






Contents of the Financial Statements
for the Year Ended 31 December 2019




Page

Balance Sheet 1

Notes to the Financial Statements 3


Craig Donnelly Golf Ltd (Registered number: SC226558)

Balance Sheet
31 December 2019

31.12.19 31.12.18
Notes £    £   
FIXED ASSETS
Tangible assets 4 12,022 10,229

CURRENT ASSETS
Stocks 117,113 97,120
Debtors 5 8,018 10,193
125,131 107,313
CREDITORS
Amounts falling due within one year 6 (126,011 ) (112,907 )
NET CURRENT LIABILITIES (880 ) (5,594 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
11,142
4,635

PROVISIONS FOR LIABILITIES (2,404 ) (1,739 )
NET ASSETS 8,738 2,896

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 8,736 2,894
SHAREHOLDERS' FUNDS 8,738 2,896

The notes form part of these financial statements

Page 1 continued...
Craig Donnelly Golf Ltd (Registered number: SC226558)

Balance Sheet - continued
31 December 2019


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 on 27 February 2020 and were signed on its behalf
by:




Mr C Donnelly - Director



Mrs D Donnelly - Director


The notes form part of these financial statements

Page 2
Craig Donnelly Golf Ltd (Registered number: SC226558)

Notes to the Financial Statements
for the Year Ended 31 December 2019

1. STATUTORY INFORMATION

Craig Donnelly Golf Ltd is a private company, limited by shares, domiciled in Scotland, registration number
SC226558. The registered office is Cluny Activities, Cluny, Kirkcaldy, Scotland, KY2 6QU.

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 represents net invoiced sales of goods and services in respect of golf professional services and the sale
of golf related merchandise, excluding value added tax. Turnover is recognised at the point of sale.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any
incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all
tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items. Cost is represented by purchase price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

Page 3 continued...
Craig Donnelly Golf Ltd (Registered number: SC226558)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

2. ACCOUNTING POLICIES - continued

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with
the lessor are charged against profits on a straight line basis over the period of the lease.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is
probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably
estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time
value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of
an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2019 10,843 14,377 25,220
Additions 3,259 4,259 7,518
At 31 December 2019 14,102 18,636 32,738
DEPRECIATION
At 1 January 2019 9,291 5,700 14,991
Charge for year 1,128 4,597 5,725
At 31 December 2019 10,419 10,297 20,716
NET BOOK VALUE
At 31 December 2019 3,683 8,339 12,022
At 31 December 2018 1,552 8,677 10,229

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Trade debtors 1,561 -
Other debtors 6,457 10,193
8,018 10,193

Page 4 continued...
Craig Donnelly Golf Ltd (Registered number: SC226558)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Bank loans and overdrafts 5,911 11,913
Trade creditors 10,184 8,065
Amounts owed to associates 621 621
Taxation and social security 21,978 16,755
Other creditors 87,317 75,553
126,011 112,907

7. SECURED DEBTS

The following secured debts are included within creditors:

31.12.19 31.12.18
£    £   
Bank overdrafts 5,911 11,913

The bank overdraft is secured by way of a personal guarantee from the director.

Page 5