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

Print Friendly Version

IRIS Accounts Production v22.1.4.3 SC226558 Board of Directors Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC2265582020-12-31SC2265582021-12-31SC2265582021-01-012021-12-31SC2265582019-12-31SC2265582020-01-012020-12-31SC2265582020-12-31SC226558ns16:Scotland2021-01-012021-12-31SC226558ns15:PoundSterling2021-01-012021-12-31SC226558ns11:Director12021-01-012021-12-31SC226558ns11:Director22021-01-012021-12-31SC226558ns11:PrivateLimitedCompanyLtd2021-01-012021-12-31SC226558ns11:SmallEntities2021-01-012021-12-31SC226558ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-31SC226558ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-31SC226558ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-31SC226558ns11:FullAccounts2021-01-012021-12-31SC226558ns6:CurrentFinancialInstruments2021-12-31SC226558ns6:CurrentFinancialInstruments2020-12-31SC226558ns6:Non-currentFinancialInstruments2021-12-31SC226558ns6:Non-currentFinancialInstruments2020-12-31SC226558ns6:ShareCapital2021-12-31SC226558ns6:ShareCapital2020-12-31SC226558ns6:RetainedEarningsAccumulatedLosses2021-12-31SC226558ns6:RetainedEarningsAccumulatedLosses2020-12-31SC226558ns6:PlantMachinery2021-01-012021-12-31SC226558ns6:PlantMachinery2020-12-31SC226558ns6:PlantMachinery2021-12-31SC226558ns6:PlantMachinery2020-12-31SC226558ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-31SC226558ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-31
REGISTERED NUMBER: SC226558 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

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






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Balance Sheet 1

Notes to the Financial Statements 3


Craig Donnelly Golf Ltd (Registered number: SC226558)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £   
FIXED ASSETS
Tangible assets 4 17,090 6,619

CURRENT ASSETS
Stocks 155,063 98,738
Debtors 5 11,295 11,069
Cash at bank and in hand 79,234 159,164
245,592 268,971
CREDITORS
Amounts falling due within one year 6 (164,411 ) (167,808 )
NET CURRENT ASSETS 81,181 101,163
TOTAL ASSETS LESS CURRENT
LIABILITIES
98,271
107,782

CREDITORS
Amounts falling due after more than one year 7 (33,949 ) (43,334 )

PROVISIONS FOR LIABILITIES (3,765 ) (1,258 )
NET ASSETS 60,557 63,190

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 60,555 63,188
SHAREHOLDERS' FUNDS 60,557 63,190

The notes form part of these financial statements

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

Balance Sheet - continued
31 December 2021


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 16 June 2022 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 2021

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.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% 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.

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

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

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.

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 9 (2020 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021 33,821
Additions 15,000
At 31 December 2021 48,821
DEPRECIATION
At 1 January 2021 27,202
Charge for year 4,529
At 31 December 2021 31,731
NET BOOK VALUE
At 31 December 2021 17,090
At 31 December 2020 6,619

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

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 4,039 1,415
Other debtors 7,256 9,654
11,295 11,069

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts 10,000 6,667
Trade creditors 19,303 9,715
Amounts owed to associates 621 621
Taxation and social security 31,094 46,347
Other creditors 103,393 104,458
164,411 167,808

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Bank loans 33,949 43,334

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 3,334

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.21 31.12.20
£    £   

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

Page 5