Thompson Golf Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02757865 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

THOMPSON GOLF LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E Thompson

Z L Thompson

SECRETARY:

Mrs P L Thompson

REGISTERED OFFICE:

Pavenham Park Golf Club

Pavenham

Bedford

Bedfordshire

MK43 7PE

REGISTERED NUMBER:

02757865 (England and Wales)

ACCOUNTANTS:

GB Accounting Solutions Limited

Building 115

Bedford Technology Park

Thurleigh

Bedford

Bedfordshire

MK44 2YA

FIXED ASSETS

Tangible assets

4

1,383,163

1,359,895

CURRENT ASSETS

Stocks

7,500

18,000

Debtors

5

43,637

23,030

Cash at bank and in hand

337,398

258,299

388,535

299,329

CREDITORS

Amounts falling due within one year

6

(624,046

)

(527,781

)

NET CURRENT LIABILITIES

(235,511

)

(228,452

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,147,652

1,131,443

CREDITORS

Amounts falling due after more than one year

7

(332,057

)

(367,224

)

NET ASSETS

815,595

764,219

CAPITAL AND RESERVES

Called up share capital

4

4

Transfer to reserves

8

539,311

539,311

Retained earnings

8

276,280

224,904

SHAREHOLDERS' FUNDS

815,595

764,219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 29 June 2022 and were signed on its behalf by:

Z L Thompson - Director

1.	STATUTORY INFORMATION

Thompson Golf 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 as modified by the revaluation of certain assets.

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.

Land and buildings

-

Over the duration of the lease period

Plant and machinery etc

-

25% on reducing balance and 15% 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.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2020 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 October 2020

1,350,000

199,868

1,549,868

Additions

-

25,124

25,124

At 30 September 2021

1,350,000

224,992

1,574,992

DEPRECIATION

At 1 October 2020

-

189,973

189,973

Charge for year

-

1,856

1,856

At 30 September 2021

-

191,829

191,829

NET BOOK VALUE

At 30 September 2021

1,350,000

33,163

1,383,163

At 30 September 2020

1,350,000

9,895

1,359,895

Cost or valuation at 30 September 2021 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 1999

323,598

-

323,598

Valuation in 2007

(33,127

)

-

(33,127

)

Valuation in 2012

248,840

-

248,840

Cost

810,689

224,992

1,035,681

1,350,000

224,992

1,574,992

If the leasehold property had not been revalued it would have been included at the following historical cost:

30.9.21

30.9.20

£

£

Cost

810,689

810,689

The leasehold property was valued on an open market basis on 30 September 2012 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade debtors

-

6,033

Other debtors

43,637

16,997

43,637

23,030

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Bank loans and overdrafts

104

104

Hire purchase contracts

16,834

-

Trade creditors

231,754

151,595

Taxation and social security

11,806

32,451

Other creditors

363,548

343,631

624,046

527,781

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.21

30.9.20

£

£

Bank loans

332,057

367,224

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

305,233

340,400

8.

RESERVES

Transfer

Retained

to

earnings

reserves

Totals

£

£

£

At 1 October 2020

224,904

539,311

764,215

Profit for the year

59,376

59,376

Dividends

(8,000

)

(8,000

)

At 30 September 2021

276,280

539,311

815,591

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Z L Thompson.