Golfwise Properties Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08731695 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

GOLFWISE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D I Bugg

A Bugg

M L Jones

R Colton

Mrs J Bugg

REGISTERED OFFICE:

Suite 3, The Hamilton Centre

Rodney Way

Chelmsford

Essex

CM1 3BY

REGISTERED NUMBER:

08731695 (England and Wales)

ACCOUNTANTS:

CBHC Limited

Suite 3, The Hamilton Centre

Rodney Way

Chelmsford

Essex

CM1 3BY

FIXED ASSETS

Tangible assets

4

-

155,344

CURRENT ASSETS

Debtors

5

78,982

100

Cash at bank

5,399

786

84,381

886

CREDITORS

Amounts falling due within one year

6

80,000

82,688

NET CURRENT ASSETS/(LIABILITIES)

4,381

(81,802

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,381

73,542

CREDITORS

Amounts falling due after more than one year

7

-

30,766

NET ASSETS

4,381

42,776

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

4,281

42,676

SHAREHOLDERS' FUNDS

4,381

42,776

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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 27 June 2023 and were signed on its behalf by:

D I Bugg - Director

1.	STATUTORY INFORMATION

Golfwise Properties 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.

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

-

not provided

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 5 (2021 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 November 2021

155,344

Disposals

(155,344

)

At 31 October 2022

-

NET BOOK VALUE

At 31 October 2022

-

At 31 October 2021

155,344

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/22

31/10/21

£

£

Other debtors

78,982

100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/22

31/10/21

£

£

Bank loans and overdrafts

-

4,157

Trade creditors

-

43

Taxation and social security

13,967

2,773

Other creditors

66,033

75,715

80,000

82,688

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/10/22

31/10/21

£

£

Bank loans

-

30,766

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

8,163

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date, D Bugg owed the company £20,769 (2021 - was owed £14,199). This was repaid within 9 months of the year-end.M Jones was owed £2,500 (2021 - £2,500) and R Colton was owed £1,980 (2021 - £2,980).

9.	RELATED PARTY DISCLOSURES

As of the reporting date the following balances were owed from / (to) related parties:

2022

2021

£

£

Golfwise Limited

46,465

18,320

Palewell Golf & Tennis Limited

(59,106

)

(71,000

)

Croydon Golf Limited

902

(1,000

)

Footgolf Wise

3,334

0

Hall Lane

7,413

0

Golfplay

(1,600

)

(1,600

)

(2,592

)

(58,280

)