REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 12 MAY 2022 TO 31 JANUARY 2023 |
FOR |
JAMGOLF (UK) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 12 MAY 2022 TO 31 JANUARY 2023 |
FOR |
JAMGOLF (UK) LIMITED |
JAMGOLF (UK) LIMITED (REGISTERED NUMBER: 14102237) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 12 MAY 2022 TO 31 JANUARY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
JAMGOLF (UK) LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 12 MAY 2022 TO 31 JANUARY 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
New Media House |
Davidson Road |
Lichfield |
Staffordshire |
WS14 9DZ |
JAMGOLF (UK) LIMITED (REGISTERED NUMBER: 14102237) |
BALANCE SHEET |
31 JANUARY 2023 |
Notes | £ |
Current assets |
Stocks |
Debtors | 4 |
Cash at bank |
Creditors |
Amounts falling due within one year | 5 |
Net current liabilities | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital | 6 |
Retained earnings | ( |
) |
Shareholders' funds | ( |
) |
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. |
JAMGOLF (UK) LIMITED (REGISTERED NUMBER: 14102237) |
BALANCE SHEET - continued |
31 JANUARY 2023 |
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 |
JAMGOLF (UK) LIMITED (REGISTERED NUMBER: 14102237) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 12 MAY 2022 TO 31 JANUARY 2023 |
1. | STATUTORY INFORMATION |
Jamgolf (UK) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The directors have reviewed the credit facilities available to the company over the forthcoming 12 months and the ongoing support of the company's parent company, GGL Holdings Limited and its subsidiaries. The directors assess that these are sufficient to allow the company to continue to trade and meet its financial obligations as they fall due. |
Having made the assessment, the directors have prepared the financial statements on a going concern basis. |
Turnover |
Turnover represents net invoiced goods and services, excluding value added tax. |
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 period 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 period 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. |
JAMGOLF (UK) LIMITED (REGISTERED NUMBER: 14102237) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 12 MAY 2022 TO 31 JANUARY 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period was NIL. |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 1,000 |
1,000 Ordinary shares of £1 each were allotted and fully paid for |
7. | RELATED PARTY DISCLOSURES |
At the year end, the company owed Guernsey Golf Limited, a subsidiary of its parent company based in Guernsey, a total of £1,013,276. This balance is interest free and repayable on demand. |
8. | CONTROLLING PARTY |
The controlling party is GGL Holdings Limited, a company registered in Guernsey. |
The registered office of GGL Holdings Limited is: Rohais du Haut, St Peter Port, Guernsey, GY1 1FD. |
GGL Holdings Limited acquired the entire share capital of the company on 23 June 2022. |