Golfwise Properties Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08731695 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2017

FOR

GOLFWISE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D I Bugg

A Bugg

M L Jones

R Colton

Mrs J Bugg

REGISTERED OFFICE:

Carlton House

101 New London Road

Chelmsford

Essex

CM20PP

BUSINESS ADDRESS:

The Mount

71 East Street

Coggeshall

Essex

CO6 1SL

REGISTERED NUMBER:

08731695 (England and Wales)

ACCOUNTANTS:

CBHC Limited

Carlton House

101 New London Road

Chelmsford

Essex

CM2 0PP

FIXED ASSETS

Tangible assets

4

155,344

155,344

CURRENT ASSETS

Debtors

5

100

100

Cash at bank

90

3,176

190

3,276

CREDITORS

Amounts falling due within one year

6

(75,372

)

(80,031

)

NET CURRENT LIABILITIES

(75,182

)

(76,755

)

TOTAL ASSETS LESS CURRENT LIABILITIES

80,162

78,589

CREDITORS

Amounts falling due after more than one year

7

(64,469

)

(69,378

)

NET ASSETS

15,693

9,211

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

15,593

9,111

SHAREHOLDERS' FUNDS

15,693

9,211

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2017 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 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 Board of Directors on 31st July 2018 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 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.

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 NIL.

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1st November 2016

and 31st October 2017

155,344

NET BOOK VALUE

At 31st October 2017

155,344

At 31st October 2016

155,344

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

100

100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

4,636

4,364

Taxation and social security

2,977

2,289

Other creditors

67,759

73,378

75,372

80,031

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

64,469

69,378

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

45,924

51,922

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed D Bugg £6,199 (2016 - £1,499), M Jones £2,500

(2016 - £2,500) and R Colton £2,980 (2016 - £2,500).