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Abbreviated Unaudited Accounts for the Year Ended 31 October 2015 |
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Grove Golf & Bowl Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 31 October 2015 |
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for |
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Grove Golf & Bowl Limited |
Grove Golf & Bowl Limited (Registered number: 07048490) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 October 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
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Chartered Accountants' Report | 7 |
Grove Golf & Bowl Limited |
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Company Information |
for the Year Ended 31 October 2015 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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BANKERS: |
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Grove Golf & Bowl Limited (Registered number: 07048490) |
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Abbreviated Balance Sheet |
31 October 2015 |
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31.10.15 | 31.10.14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 4 |
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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 |
4 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
Grove Golf & Bowl Limited (Registered number: 07048490) |
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Abbreviated Balance Sheet - continued |
31 October 2015 |
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The financial statements were approved by the Board of Directors on
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Grove Golf & Bowl Limited (Registered number: 07048490) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 October 2015 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The company meets it day to day working capital requirements through an overdraft facility which is repayable |
on demand. The company expects to operate within the currently agreed facility and within that expected to be |
agreed in future, when the company's bankers are due to consider its renewal. These views are based on the |
company's plans and on the successful outcome of discussions with the company's bankers. |
The director has pledged his continuing support to the company and has agreed not to withdraw his directors |
loan account, currently £763,081 until the company has sufficient funds to do so without prejudicing any other |
creditor. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Turnover |
Turnover represents net sales of services & goods provided, excluding value added tax. |
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Goodwill |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
The charge for taxation takes into account taxation deferred as a result of timing differences between the |
treatment of certain items for taxation and accounting purposes. Deferred tax is recognised in respect of all |
timing differences that have originated but not reversed by the balance sheet date. Deferred tax assets are only |
recognised where it is considered more likely than not that future profits will be available for offset. Deferred tax |
is measured on a non-discounted basis at the average tax rates that would apply in the periods in which the timing |
differences are expected to reverse, based on the tax rates and laws that have been enacted by the balance sheet |
date. |
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Operating leases |
The relevant annual rentals are charged to the profit and loss account on a straight line basis over the lease term, |
unless they relate to vacant leasehold properties, in which case provision is made on a discounted basis for the |
net obligation under the lease. The unwinding of the discount is disclosed within interest payable and similar |
charges. |
Grove Golf & Bowl Limited (Registered number: 07048490) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 October 2015 |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 November 2014 |
and 31 October 2015 |
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AMORTISATION |
At 1 November 2014 |
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Amortisation for year |
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At 31 October 2015 |
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NET BOOK VALUE |
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At 31 October 2015 |
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At 31 October 2014 |
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3. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 November 2014 |
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Additions |
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At 31 October 2015 |
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DEPRECIATION |
At 1 November 2014 |
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Charge for year |
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At 31 October 2015 |
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NET BOOK VALUE |
At 31 October 2015 |
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At 31 October 2014 |
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4. | CREDITORS |
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Creditors include an amount of £
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They also include the following debts falling due in more than five years: |
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31.10.15 | 31.10.14 |
£ | £ |
Repayable by instalments | 107,520 | 132,342 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.15 | 31.10.14 |
value: | £ | £ |
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Ordinary | £1 |
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Grove Golf & Bowl Limited (Registered number: 07048490) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 October 2015 |
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6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 October 2015 and |
31 October 2014: |
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31.10.15 | 31.10.14 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of year | ( |
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Amounts in brackets are due to the directors & without brackets are due to the company. No interest is payable |
on amounts outstanding which are repayable on demand. |
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The above amounts represent the aggregate movements during the year rather than each individual transaction. |
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The director has pledged his continuing support to the company and has agreed not to withdraw his directors |
loan account, currently £763,081, until the company has sufficient funds to do so without prejudicing any other |
creditor. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Grove Golf & Bowl Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have |
been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Grove Golf & Bowl Limited for the year ended 31 October 2015 which comprise the Profit and |
Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
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This report is made solely to the Board of Directors of Grove Golf & Bowl Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Grove Golf & Bowl Limited and state those matters that we have agreed to state to the Board of Directors of Grove Golf & Bowl Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Grove Golf & Bowl Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Grove Golf & Bowl Limited. You consider that Grove Golf & Bowl Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Grove Golf & Bowl Limited. |
For this reason, we have not verified the accuracy or completeness of the accounting records or information and |
explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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22 March 2016 |