Golf Direct Online Limited - Accounts to registrar (filleted) - small 18.2

GOLF DIRECT ONLINE LIMITED

Unaudited Financial Statements

for the Year Ended 31st March 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G D Estabrooks

R L Johnson

A G R Dobson

REGISTERED OFFICE:

Cleveland House

116 Cleveland Street

Birkenhead

Wirral

CH41 3RB

REGISTERED NUMBER:

08751435 (England and Wales)

FIXED ASSETS

Intangible assets

4

22,881

22,881

CURRENT ASSETS

Stocks

48,944

48,077

Debtors

5

72,186

52,419

Cash at bank

14,588

8,030

135,718

108,526

CREDITORS

Amounts falling due within one year

6

217,725

202,676

NET CURRENT LIABILITIES

(82,007

)

(94,150

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(59,126

)

(71,269

)

CAPITAL AND RESERVES

Called up share capital

3

3

Share premium

74,997

74,997

Retained earnings

(134,126

)

(146,269

)

(59,126

)

(71,269

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 14th December 2021 and were signed on its behalf by:

G D Estabrooks - Director

1.	STATUTORY INFORMATION

Golf Direct Online 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.

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

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st April 2020

and 31st March 2021

75,000

57,607

132,607

AMORTISATION

At 1st April 2020

and 31st March 2021

64,062

45,664

109,726

NET BOOK VALUE

At 31st March 2021

10,938

11,943

22,881

At 31st March 2020

10,938

11,943

22,881

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

16,638

27,682

Other debtors

55,548

24,737

72,186

52,419

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

13,800

30,215

Other creditors

203,925

172,461

217,725

202,676

7.	RELATED PARTY DISCLOSURES

Included in other creditors is an amount owing to the director of £57,470