Golf Services Wales Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04749042 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

GOLF SERVICES WALES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Williams

J Wall

SECRETARY:

B Groves

REGISTERED OFFICE:

Court House

Court Road

Bridgend

CF31 1BE

REGISTERED NUMBER:

04749042 (England and Wales)

ACCOUNTANTS:

Graham Paul Limited

Court House

Court Road

Bridgend

CF31 1BE

FIXED ASSETS

Tangible assets

4

544

640

CURRENT ASSETS

Stocks

4,900

5,500

Debtors

5

9,552

10,360

Cash at bank

18,286

64,972

32,738

80,832

CREDITORS

Amounts falling due within one year

6

63,282

92,483

NET CURRENT LIABILITIES

(30,544

)

(11,651

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(30,000

)

(11,011

)

CREDITORS

Amounts falling due after more than one year

7

37,636

44,407

NET LIABILITIES

(67,636

)

(55,418

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

34,600

34,600

Retained earnings

(103,236

)

(91,018

)

SHAREHOLDERS' FUNDS

(67,636

)

(55,418

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 31 January 2018 and were signed on its behalf by:

D Williams - Director

1.	STATUTORY INFORMATION

Golf Services Wales 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.

The financial statements have been prepared on a going concern basis. This is deemed appropriate

on the basis of the continuing support of the company's main creditors, specifically National

Westminster Bank Plc.

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

-

15% 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.

Grants

Grant Income is credited to the profit and loss account to match the related expenditure for revenue

grants .

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

and 30 April 2017

5,048

DEPRECIATION

At 1 May 2016

4,408

Charge for year

96

At 30 April 2017

4,504

NET BOOK VALUE

At 30 April 2017

544

At 30 April 2016

640

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

9,552

10,360

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

6,424

10,980

Trade creditors

7,185

2,190

Other creditors

49,673

79,313

63,282

92,483

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

37,636

44,407

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director Mr D Williams, by virtue of his 60% shareholding in the

company.