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REGISTERED NUMBER: 12434105 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

JAY KELLY GOLF LIMITED

JAY KELLY GOLF LIMITED (REGISTERED NUMBER: 12434105)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










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 2024







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 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,537 48,496

CURRENT ASSETS
Stocks 28,500 46,750
Debtors 5 5,244 4,814
Cash at bank and in hand 42,406 24,345
76,150 75,909
CREDITORS
Amounts falling due within one year 6 42,384 21,125
NET CURRENT ASSETS 33,766 54,784
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,303

103,280

CREDITORS
Amounts falling due after more than one
year

7

(30,251

)

(34,636

)

PROVISIONS FOR LIABILITIES (1,201 ) (9,214 )
NET ASSETS 36,851 59,430

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 36,751 59,330
36,851 59,430

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 15 October 2024 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 2024


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
Computer equipment - 33% 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.

JAY KELLY GOLF LIMITED (REGISTERED NUMBER: 12434105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

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.

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 6 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 3,190 6,084 48,535 - 57,809
Additions - - - 415 415
At 31 January 2024 3,190 6,084 48,535 415 58,224
DEPRECIATION
At 1 February 2023 2,126 4,154 3,033 - 9,313
Charge for year 1,063 1,798 11,375 138 14,374
At 31 January 2024 3,189 5,952 14,408 138 23,687
NET BOOK VALUE
At 31 January 2024 1 132 34,127 277 34,537
At 31 January 2023 1,064 1,930 45,502 - 48,496

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,244 3,000
Other debtors - 1,814
5,244 4,814

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 4,386 3,679
Trade creditors 5,857 1,076
Taxation and social security 10,238 -
Other creditors 21,903 16,370
42,384 21,125

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 30,251 34,636