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Financial Statements For The Year Ended 31st July 2017 |
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New Malden Golf Centre Ltd |
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REGISTERED NUMBER:
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Financial Statements For The Year Ended 31st July 2017 |
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for |
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New Malden Golf Centre Ltd |
New Malden Golf Centre Ltd (Registered number: 08018161) |
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Contents of the Financial Statements |
For The Year Ended 31st July 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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New Malden Golf Centre Ltd |
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Company Information |
For The Year Ended 31st July 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants & Registered Auditors |
1st Floor |
5 Century Court |
Tolpits Lane |
Watford |
Hertfordshire |
WD18 9PX |
New Malden Golf Centre Ltd (Registered number: 08018161) |
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Balance Sheet |
31st July 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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New Malden Golf Centre Ltd (Registered number: 08018161) |
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Notes to the Financial Statements |
For The Year Ended 31st July 2017 |
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1. | STATUTORY INFORMATION |
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New Malden Golf Centre Ltd is a
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and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated |
amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. |
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange |
differences are taken into account in arriving at the operating result. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to |
profit or loss in the period to which they relate. |
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Operating leases |
Rentals paid under operating leases are charged to the profit and loss account as incurred. |
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Impairment |
There is periodical evaluation of the recoverability of intangible assets taking into account events or circumstances that may warrant |
revised estimates of useful economic lives or that indicate the assets may be permanently impaired. |
New Malden Golf Centre Ltd (Registered number: 08018161) |
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Notes to the Financial Statements - continued |
For The Year Ended 31st July 2017 |
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3. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st August 2016 |
and 31st July 2017 |
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AMORTISATION |
At 1st August 2016 |
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Charge for year |
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At 31st July 2017 |
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NET BOOK VALUE |
At 31st July 2017 |
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At 31st July 2016 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st August 2016 |
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Additions |
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At 31st July 2017 |
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DEPRECIATION |
At 1st August 2016 |
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Charge for year |
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At 31st July 2017 |
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NET BOOK VALUE |
At 31st July 2017 |
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At 31st July 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors & prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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New Malden Golf Centre Ltd (Registered number: 08018161) |
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Notes to the Financial Statements - continued |
For The Year Ended 31st July 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 852,280 | 1,116,502 |
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Other creditors greater than 1 year consists of loan from the directors, Mr C Purslow - £2,376,498 (2016 - £2,379,156) and Mr M M |
Sheehan - £90,003 (2016 - £98,684). All directors loan are unsecured and interest free. |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2017 | 2016 |
£ | £ |
Between one and five years |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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Loan from The Co-operative Bank PLC is secured by debenture, incorporating a fixed and floating charge against the assets of the |
company and a first legal charge over Beverley Park (World of Golf), Beverley Way, New Malden, Surrey, KT3 4PH. |
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10. | RESERVES |
Revaluation |
reserve |
£ |
At 1st August 2016 |
and 31st July 2017 |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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12. | RELATED PARTY DISCLOSURES |
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As at 31st July 2017, Mr C Purslow was owed an amount of £2,376,498 (2016 - £2,379,156) and Mr M M Sheehan was owed an amount |
of £90,003 (2016 - £98,684). Both of them are directors and shareholders of the company. No interest is charged on this loan. |
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Included in Professional & consultancy fee are amounts totalling £66,976 (2016 - £59,909) which were paid to Campbell Sanders LLP a |
business in which the director Grant Wright is a member. There were no balances outstanding at the year end. These payment relates to |
consultancy services provided by that firm on an arms length basis. |
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13. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is Mr C Purslow with 95% of the company shares. |