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REGISTERED NUMBER: 12455002 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Virtually Golf Ltd

Virtually Golf Ltd (Registered number: 12455002)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Virtually Golf Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr S L Clark
Mrs C D Clark
Mr R Roberts
Mr M Billson





REGISTERED OFFICE: 15 Newland
Lincoln
LN1 1XG





REGISTERED NUMBER: 12455002 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Virtually Golf Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Virtually Golf Ltd for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Virtually Golf Ltd, 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 Virtually Golf Ltd and state those matters that we have agreed to state to the Board of Directors of Virtually Golf Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Virtually Golf Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Virtually Golf Ltd 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 Virtually Golf Ltd. You consider that Virtually Golf Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Virtually Golf Ltd. 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


14 August 2023

Virtually Golf Ltd (Registered number: 12455002)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 67,602 1,443
Tangible assets 5 142,169 154,098
209,771 155,541

CURRENT ASSETS
Stocks 2,000 9,000
Debtors 6 64,153 61,622
Cash at bank and in hand 2,127 3,484
68,280 74,106
CREDITORS
Amounts falling due within one year 7 175,573 138,507
NET CURRENT LIABILITIES (107,293 ) (64,401 )
TOTAL ASSETS LESS CURRENT LIABILITIES 102,478 91,140

CREDITORS
Amounts falling due after more than one year 8 122,365 117,727
NET LIABILITIES (19,887 ) (26,587 )

CAPITAL AND RESERVES
Called up share capital 9 133 100
Share premium 79,968 -
Retained earnings (99,988 ) (26,687 )
SHAREHOLDERS' FUNDS (19,887 ) (26,587 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 14 August 2023 and were signed on its behalf by:



Mr S L Clark - Director


Virtually Golf Ltd (Registered number: 12455002)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Virtually Golf Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the year end net current liabilities exceeded net assets by £107,293 (2022: £64,401). The directors consider it appropriate to prepare the financial statements on a going concern basis and have pledged their support to the business should this be required.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% on reducing balance and 10% 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 8 ) .

Virtually Golf Ltd (Registered number: 12455002)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022 1,610
Additions 73,670
At 31 March 2023 75,280
AMORTISATION
At 1 April 2022 167
Charge for year 7,511
At 31 March 2023 7,678
NET BOOK VALUE
At 31 March 2023 67,602
At 31 March 2022 1,443

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 9,690 57,281 44,367 53,835 165,173
Additions - 1,660 1,120 1,548 4,328
At 31 March 2023 9,690 58,941 45,487 55,383 169,501
DEPRECIATION
At 1 April 2022 123 1,553 1,821 7,578 11,075
Charge for year 957 5,679 4,308 5,313 16,257
At 31 March 2023 1,080 7,232 6,129 12,891 27,332
NET BOOK VALUE
At 31 March 2023 8,610 51,709 39,358 42,492 142,169
At 31 March 2022 9,567 55,728 42,546 46,257 154,098

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 744
Other debtors 64,153 60,878
64,153 61,622

Virtually Golf Ltd (Registered number: 12455002)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 30,684 23,020
Trade creditors - 11,564
Taxation and social security 9,626 894
Other creditors 135,263 103,029
175,573 138,507

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 86,619 94,030
Other creditors 35,746 23,697
122,365 117,727

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 11,909

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
13,250 Ordinary 0.01 133 100