true
LEVEL 4 GOLF LIMITED
02834777
2016-07-31
204352
302541
204602
302791
250
250
204602
302791
32010
25725
355040
228582
591652
557098
431595
419426
1091642
1550046
1523237
1969472
629227
749888
891349
897453
2661
322131
160057
137672
16837
19809
143220
117863
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful economic life of that asset as follows:
Website-15% per annum on a straight line basis
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Fixtures & Fittings
Reducing Balance
0.1500
Equipment
Reducing Balance
0.1500
Leasehold Property Improvements
Reducing Balance
0.1500
30846
30846
14009
11037
2972
398649
391088
62812
-55250
255429
273225
17368
-35163
429495
421934
62812
-55250
269438
284262
-35163
20340
Ordinary
1000
1
1000
1000
Ordinary A
1000
1
1000
1000
Ordinary
1
100
100
100
Ordinary A
1
150
150
150
2017-01-26
MR A GRIMSTONE
true
true
true
true
xbrli:shares
iso4217:GBP
xbrli:pure
LEVEL 4 GOLF LIMITED
2015-08-01
2016-07-31
LEVEL 4 GOLF LIMITED
2014-08-01
2015-07-31
LEVEL 4 GOLF LIMITED
2014-07-31
LEVEL 4 GOLF LIMITED
2015-07-31
LEVEL 4 GOLF LIMITED
2015-07-31
LEVEL 4 GOLF LIMITED
2016-07-31
2017-02-21