Palewell Golf and Tennis Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03180948 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2017

FOR

PALEWELL GOLF AND TENNIS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Bugg

REGISTERED OFFICE:

Carlton House

New London Road

Chelmsford

Essex

CM2 0PP

BUSINESS ADDRESS:

The Mount

71 East Street

Coggeshall

Essex

CO6 1SL

REGISTERED NUMBER:

03180948 (England and Wales)

ACCOUNTANTS:

CBHC Limited

Carlton House

101 New London Road

Chelmsford

Essex

CM2 0PP

FIXED ASSETS

Tangible assets

3

862,100

862,100

CURRENT ASSETS

Debtors

4

93,856

89,090

Cash at bank

2,658

7,976

96,514

97,066

CREDITORS

Amounts falling due within one year

5

(67,232

)

(86,798

)

NET CURRENT ASSETS

29,282

10,268

TOTAL ASSETS LESS CURRENT LIABILITIES

891,382

872,368

CREDITORS

Amounts falling due after more than one year

6

(330,074

)

(365,947

)

NET ASSETS

561,308

506,421

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

561,306

506,419

SHAREHOLDERS' FUNDS

561,308

506,421

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 15th December 2017 and were signed by:

J Bugg - Director

1.	STATUTORY INFORMATION

Palewell Golf and Tennis Ltd 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 the provisions of Section 1A "Small Entities" 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 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.

Plant and machinery etc

-

20% on cost and 15% on cost

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.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st April 2016

and 31st March 2017

862,100

8,022

870,122

DEPRECIATION

At 1st April 2016

and 31st March 2017

-

8,022

8,022

NET BOOK VALUE

At 31st March 2017

862,100

-

862,100

At 31st March 2016

862,100

-

862,100

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by participating interests

93,856

88,590

Other debtors

-

500

93,856

89,090

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

34,338

33,461

Amounts owed to participating interests

5,387

40,206

Taxation and social security

26,307

11,931

Other creditors

1,200

1,200

67,232

86,798

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

330,074

365,947

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

196,311

232,184

7.	RELATED PARTY DISCLOSURES

During the year the company charged management fee's of £20,000 (2016 £20,000) to Golfwise

Limited.

As at the balance sheet date the company owed £3,817 (2016 £38,655) to Golfwise Limited, and

£1,570 (2016 £1,550) to Croydon Golf Limited, both companies registered in England and Wales

and controlled by D Bugg.

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by J Bugg.