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REGISTERED NUMBER: 12434105 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

JAY KELLY GOLF LIMITED

JAY KELLY GOLF LIMITED (REGISTERED NUMBER: 12434105)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JAY KELLY GOLF LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: Mr J Kelly





REGISTERED OFFICE: 106 Dynes Road
Kemsing
Sevenoaks
Kent
TN15 6RF





REGISTERED NUMBER: 12434105 (England and Wales)






JAY KELLY GOLF LIMITED (REGISTERED NUMBER: 12434105)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,496 5,690

CURRENT ASSETS
Stocks 46,750 27,000
Debtors 5 4,814 6,164
Cash at bank and in hand 24,345 40,577
75,909 73,741
CREDITORS
Amounts falling due within one year 6 21,125 18,591
NET CURRENT ASSETS 54,784 55,150
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,280

60,840

CREDITORS
Amounts falling due after more than one
year

7

(34,636

)

(20,971

)

PROVISIONS FOR LIABILITIES (9,214 ) (1,081 )
NET ASSETS 59,430 38,788

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 59,330 38,688
59,430 38,788

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 13 October 2023 and were signed by:




Mr J Kelly - Director


JAY KELLY GOLF LIMITED (REGISTERED NUMBER: 12434105)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

Jay Kelly Golf Limited 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.

Turnover
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 3 years
Fixtures and fittings - Straight line over 3 years
Motor vehicles - 20% straight line

All fixed assets are initially recorded at cost.

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 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.

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 year 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.

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.

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.

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.

JAY KELLY GOLF LIMITED (REGISTERED NUMBER: 12434105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2022 3,190 5,689 - 8,879
Additions - 395 48,535 48,930
At 31 January 2023 3,190 6,084 48,535 57,809
DEPRECIATION
At 1 February 2022 1,063 2,126 - 3,189
Charge for year 1,063 2,028 3,033 6,124
At 31 January 2023 2,126 4,154 3,033 9,313
NET BOOK VALUE
At 31 January 2023 1,064 1,930 45,502 48,496
At 31 January 2022 2,127 3,563 - 5,690

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,000 250
Other debtors 1,814 5,914
4,814 6,164

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 3,679 -
Trade creditors 1,076 4,364
Taxation and social security - 7,529
Other creditors 16,370 6,698
21,125 18,591

Included in Other Creditors is £16,136 (2022:£6,594) in relation to accruals and deferred income.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 34,636 -
Other creditors - 20,971
34,636 20,971