GWG Golf Ltd,Ltd - Accounts

GWG GOLF LTD - Company Information

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GWG Golf Ltd

Registered Number:SC475797

For the year ended 30 April 2016

Scotland

Unaudited Financial Statements

For the year ended 30 April 2016

GWG Golf Ltd

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

As at 30 April 2016

GWG Golf Ltd

Statement of Financial Position

Registered Number :

SC475797

2015

2016

Notes

Fixed assets

Property, plant and equipment

6,755

7,426

6,755

7,426

Current assets

Inventories

17,261

16,255

Trade and other receivables

4,841

1,767

28,047

Cash and cash equivalents

14,724

32,746

50,149

Trade and other payables: amounts falling due within one year

(44,695)

(31,621)

5,454

1,125

Net current assets

Total assets less current liabilities

7,880

12,880

(1,128)

(1,213)

Provisions for liabilities

6,752

Net assets

11,667

Capital and reserves

Called up share capital

100

Retained earnings

6,652

11,567

6,752

11,667

Shareholders' funds

For the year ended 30 April 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

Mr Graham William Gormley Director

These financial statements were approved and authorised for issue by the Board on 23 January 2017 and were signed by:

The notes form part of these financial statements

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For the year ended 30 April 2016

GWG Golf Ltd

Notes to the Financial Statements

Statutory Information

GWG Golf Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number SC475797.

Registered address:

73 The Lairs

Blackwood

Lanark

ML11 9YW

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard

102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The

financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.

Revenue recognition

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

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.

2. Property, plant and equipment

Total

Computer

Equipment

Furniture and

Fittings

Plant and

Machinery

Cost or valuation

At 01 May 2015

9,901

1,690

8,211

2,406

183

478

1,745

Additions

At 30 April 2016

9,956

478

1,873

12,307

Provision for depreciation and impairment

At 01 May 2015

2,475

423

2,052

Charge for year

3,077

468

120

2,489

At 30 April 2016

5,552

891

120

4,541

At 30 April 2016

Net book value

5,415

358

982

6,755

At 30 April 2015

6,159

1,267

7,426

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For the year ended 30 April 2016

GWG Golf Ltd

Notes to the Financial Statements Continued

3. Trade and other receivables

2015

2016

Trade debtors

1,414

2,739

Taxation and social security

353

2,102

4,841

1,767

4. Trade and other payables: amounts falling due within one year

2015

2016

Trade creditors

20,945

27,530

Taxation and social security

5,585

8,082

Accruals and deferred income

117

Directors' current accounts

551

2,830

Other creditors

4,423

6,136

31,621

44,695

5. Transition to FRS 102

The company has adopted FRS 102 for the year ended 30th April 2016 and considers no restatement is requird for the

comparative prior year amounts.

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