Notts & Derbys Golf and Leisure Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11222580 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Notts & Derbys Golf and Leisure Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

W W Laughton

S L Laughton

REGISTERED OFFICE:

North Laithes Farm

Wellow Road

Eakring

Newark

Nottinghamshire

NG22 0AN

REGISTERED NUMBER:

11222580 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Tangible assets

4

766,141

777,054

CURRENT ASSETS

Stocks

47,261

44,043

Debtors

5

483,469

443,411

Cash at bank and in hand

586,958

799,468

1,117,688

1,286,922

CREDITORS

Amounts falling due within one year

6

887,482

941,763

NET CURRENT ASSETS

230,206

345,159

TOTAL ASSETS LESS CURRENT LIABILITIES

996,347

1,122,213

CREDITORS

Amounts falling due after more than one year

7

(34,468

)

(175,618

)

PROVISIONS FOR LIABILITIES

(36,658

)

(37,052

)

NET ASSETS

925,221

909,543

CAPITAL AND RESERVES

Called up share capital

9

10,000

10,000

Retained earnings

915,221

899,543

SHAREHOLDERS' FUNDS

925,221

909,543

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 25 August 2023 and were signed on its behalf by:

W W Laughton - Director

1.	STATUTORY INFORMATION

Notts & Derbys Golf and Leisure 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.

The accounts have been prepared on a going concern basis that assumes that the directors and related businesses will continue to support the business for the foreseeable future.

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

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% 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.

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 53 (2022 - 57 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

Buildings

machinery

fittings

£

£

£

COST

At 1 April 2022

619,508

168,628

28,531

Additions

-

12,600

10,178

At 31 March 2023

619,508

181,228

38,709

DEPRECIATION

At 1 April 2022

-

43,074

3,455

Charge for year

-

26,924

5,163

At 31 March 2023

-

69,998

8,618

NET BOOK VALUE

At 31 March 2023

619,508

111,230

30,091

At 31 March 2022

619,508

125,554

25,076

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2022

12,000

2,981

831,648

Additions

-

-

22,778

At 31 March 2023

12,000

2,981

854,426

DEPRECIATION

At 1 April 2022

7,589

476

54,594

Charge for year

1,103

501

33,691

At 31 March 2023

8,692

977

88,285

NET BOOK VALUE

At 31 March 2023

3,308

2,004

766,141

At 31 March 2022

4,411

2,505

777,054

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

-

720

Amounts owed by group undertakings

465,497

419,998

Other debtors

17,972

22,693

483,469

443,411

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

-

60,310

Hire purchase contracts

22,139

19,694

Trade creditors

111,479

61,482

Taxation and social security

134,636

209,258

Other creditors

619,228

591,019

887,482

941,763

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

-

126,667

Hire purchase contracts

34,468

48,951

34,468

175,618

8.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bounce Back Loan

-

166,667

The Bounce Back Loan scheme is secured against a guarantee by the bank in which the bank guarantees the repayment of the loan if the client was to default on this loan.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

10,000

Ordinary

£1

10,000

10,000

10.	RELATED PARTY DISCLOSURES

The majority shareholders W W Laughton and S L Laughton are also majority shareholders of Laughton Farming. At the year end Laughton Farming owed Notts & Derby Golf and Leisure Limited £457,608 (2022 - £412,349) net of vat.