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REGISTERED NUMBER: 07973486 (England and Wales)















Unaudited Financial Statements for the Year Ended 29th February 2024

for

Custom Fit Golf Shop Ltd

Custom Fit Golf Shop Ltd (Registered number: 07973486)






Contents of the Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Custom Fit Golf Shop Ltd

Company Information
for the Year Ended 29th February 2024







DIRECTOR: Mr M L Welch





REGISTERED OFFICE: Central Chambers
227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF





REGISTERED NUMBER: 07973486 (England and Wales)





ACCOUNTANTS: Field & Co LLP
Central Chambers
227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF

Custom Fit Golf Shop Ltd (Registered number: 07973486)

Balance Sheet
29th February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 377 471
377 471

CURRENT ASSETS
Stocks 65,304 88,593
Debtors 6 16,112 1,875
Cash at bank and in hand 17,007 5,800
98,423 96,268
CREDITORS
Amounts falling due within one year 7 85,659 70,639
NET CURRENT ASSETS 12,764 25,629
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,141

26,100

CREDITORS
Amounts falling due after more than
one year

8

(12,969

)

(23,046

)

PROVISIONS FOR LIABILITIES 10 (72 ) (89 )
NET ASSETS 100 2,965

Custom Fit Golf Shop Ltd (Registered number: 07973486)

Balance Sheet - continued
29th February 2024

29/2/24 28/2/23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 - 2,865
SHAREHOLDERS' FUNDS 100 2,965

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 29th February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28th November 2024 and were signed by:





Mr M L Welch - Director


Custom Fit Golf Shop Ltd (Registered number: 07973486)

Notes to the Financial Statements
for the Year Ended 29th February 2024

1. STATUTORY INFORMATION

Custom Fit Golf Shop 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Custom Fit Golf Shop Ltd (Registered number: 07973486)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st March 2023
and 29th February 2024 35,000
AMORTISATION
At 1st March 2023
and 29th February 2024 35,000
NET BOOK VALUE
At 29th February 2024 -
At 28th February 2023 -

Goodwill, being the amount paid in connection with the acquisition of the business in 2013, is being amortised evenly over its estimated useful life of ten years.

Custom Fit Golf Shop Ltd (Registered number: 07973486)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st March 2023
and 29th February 2024 1,306
DEPRECIATION
At 1st March 2023 835
Charge for year 94
At 29th February 2024 929
NET BOOK VALUE
At 29th February 2024 377
At 28th February 2023 471

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 14,150 1,875
Other debtors 1,962 -
16,112 1,875

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts (see note 9) 10,336 10,150
Trade creditors 32,182 42,727
Taxation and social security 10,347 5,319
Other creditors 32,794 12,443
85,659 70,639

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans (see note 9) 12,969 23,046

Custom Fit Golf Shop Ltd (Registered number: 07973486)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

9. LOANS

An analysis of the maturity of loans is given below:

29/2/24 28/2/23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 150 150
Bank loans 10,186 10,000
10,336 10,150

Amounts falling due between one and two years:
Bank loans - 1-2 years 12,969 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 13,046

10. PROVISIONS FOR LIABILITIES
29/2/24 28/2/23
£    £   
Deferred tax 72 89

Deferred
tax
£   
Balance at 1st March 2023 89
Provided during year (17 )
Balance at 29th February 2024 72

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 28/2/23
value: £    £   
100 Ordinary Shares £1 100 100

Custom Fit Golf Shop Ltd (Registered number: 07973486)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

12. RESERVES
Retained
earnings
£   

At 1st March 2023 2,865
Profit for the year 27,891
Dividends (30,756 )
At 29th February 2024 -