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REGISTERED NUMBER: SC333101 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

J G GOLF LTD

J G GOLF LTD (REGISTERED NUMBER: SC333101)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J G GOLF LTD

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: J Greaves





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC333101 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

J G GOLF LTD (REGISTERED NUMBER: SC333101)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 11,614 15,067

CURRENT ASSETS
Stocks 4 38,667 74,269
Debtors 5 1,873 1,253
Cash at bank and in hand 65,220 57,706
105,760 133,228
CREDITORS
Amounts falling due within one year 6 95,821 108,839
NET CURRENT ASSETS 9,939 24,389
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,553

39,456

CREDITORS
Amounts falling due after more than one
year

7

-

(8,333

)

PROVISIONS FOR LIABILITIES (251 ) (251 )
NET ASSETS 21,302 30,872

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 21,200 30,770
SHAREHOLDERS' FUNDS 21,302 30,872

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

J G GOLF LTD (REGISTERED NUMBER: SC333101)

Balance Sheet - continued
31 DECEMBER 2023


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 August 2024 and were signed by:





J Greaves - Director


J G GOLF LTD (REGISTERED NUMBER: SC333101)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. 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
Turnover represents the amounts derived from the provision of goods and services which fall within the company's ordinary activities and is stated net of Value Added Tax. Revenue is recognised on despatch of goods.

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 - 20% on a straight line basis
Fixtures and fittings - 20% on a reducing balance basis
Computer equipment - 33% on a straight line basis

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.

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.

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.

J G GOLF LTD (REGISTERED NUMBER: SC333101)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 36,699 9,785 5,973 52,457
Additions 2,513 - 1,627 4,140
At 31 December 2023 39,212 9,785 7,600 56,597
DEPRECIATION
At 1 January 2023 26,986 6,075 4,329 37,390
Charge for year 3,580 742 3,271 7,593
At 31 December 2023 30,566 6,817 7,600 44,983
NET BOOK VALUE
At 31 December 2023 8,646 2,968 - 11,614
At 31 December 2022 9,713 3,710 1,644 15,067

4. STOCKS
2023 2022
£    £   
Stocks 38,667 74,269

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,873 1,253

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 35,346 32,820
Tax 21,657 18,933
Social security and other taxes 21,056 19,685
Directors' current accounts 14,210 35,840
Accrued expenses 3,552 1,561
95,821 108,839

J G GOLF LTD (REGISTERED NUMBER: SC333101)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years - 8,333