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REGISTERED NUMBER: 03305510 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Fairway (Golf Shops) Limited

Fairway (Golf Shops) Limited (Registered number: 03305510)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fairway (Golf Shops) Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: D N Smith
B J Slaven
W S M Rooke
A Edwards





SECRETARY: W S M Rooke





REGISTERED OFFICE: 2 Heap Bridge
Bury
Lancashire
BL9 7HR





REGISTERED NUMBER: 03305510 (England and Wales)





ACCOUNTANTS: Thompson Jones Business Solutions Limited
2 Heap Bridge
Bury
Lancashire
BL9 7HR

Fairway (Golf Shops) Limited (Registered number: 03305510)

Balance Sheet
31 October 2024

2024 2023
Notes £    £   
Fixed assets
Intangible assets 5 37,450 45,940
Tangible assets 6 43,863 54,153
81,313 100,093

Current assets
Stocks 7 1,373,818 1,840,196
Debtors 8 71,175 130,284
Cash in hand 5 5
1,444,998 1,970,485
Creditors
Amounts falling due within one year 9 (934,046 ) (870,207 )
Net current assets 510,952 1,100,278
Total assets less current liabilities 592,265 1,200,371

Creditors
Amounts falling due after more than one
year

10

(323,975

)

(435,975

)
Net assets 268,290 764,396

Capital and reserves
Called up share capital 11 13,000 13,000
Share premium 122,000 122,000
Retained earnings 133,290 629,396
Shareholders' funds 268,290 764,396

Fairway (Golf Shops) Limited (Registered number: 03305510)

Balance Sheet - continued
31 October 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2025 and were signed on its behalf by:





A Edwards - Director


Fairway (Golf Shops) Limited (Registered number: 03305510)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Heap Bridge
Bury
Lancashire
BL9 7HR

The principal place of business is:
Unit 3 Hawkshaw Business Park
Longsight Road
Clayton-le-Dale
Blackburn
Lancashire
BB2 7PD

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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.

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.

AMORTISATION
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value,over their useful life as follows:

Asset class Amortisation method and rate
Software and website development costs 10%-20% on cost

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 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.


Fairway (Golf Shops) Limited (Registered number: 03305510)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

3. ACCOUNTING POLICIES - continued
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

5. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 November 2023
and 31 October 2024 274,900
AMORTISATION
At 1 November 2023 228,960
Amortisation for year 8,490
At 31 October 2024 237,450
NET BOOK VALUE
At 31 October 2024 37,450
At 31 October 2023 45,940

Fairway (Golf Shops) Limited (Registered number: 03305510)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 22,427 56,043 78,470
DEPRECIATION
At 1 November 2023 11,614 12,703 24,317
Charge for year 1,622 8,668 10,290
At 31 October 2024 13,236 21,371 34,607
NET BOOK VALUE
At 31 October 2024 9,191 34,672 43,863
At 31 October 2023 10,813 43,340 54,153

7. STOCKS
2024 2023
£    £   
Stocks 1,373,818 1,840,196

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 57,031 116,140
Other debtors 14,144 14,144
71,175 130,284

During the year we have created the provision of theft stock of £440,000 via other debtors.

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 126,999 100,575
Trade creditors 661,686 629,015
Taxation and social security 72,303 84,909
Other creditors 73,058 55,708
934,046 870,207

Fairway (Golf Shops) Limited (Registered number: 03305510)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 24,500 66,500
Other creditors 299,475 369,475
323,975 435,975

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200,000 Ordinary A £0.05 10,000 10,000
60,000 Ordinary C £0.05 3,000 3,000
13,000 13,000