Ian Walley Golf Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 08334162

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		60,945		79,950

			60,945		79,950
CURRENT ASSETS
Stocks	5	49,000		45,000
Cash at bank and in hand		113,465		85,345

		162,465		130,345
Creditors: Amounts Falling Due Within One Year	6	(79,662 )		(81,129 )

NET CURRENT ASSETS (LIABILITIES)			82,803		49,216

TOTAL ASSETS LESS CURRENT LIABILITIES			143,748		129,166

Creditors: Amounts Falling Due After More Than One Year	7		(4,812 )		(14,951 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,347 )		(2,712 )

NET ASSETS			137,589		111,503

CAPITAL AND RESERVES
Called up share capital	8		2		2
Profit and Loss Account			137,587		111,501

SHAREHOLDERS' FUNDS			137,589		111,503

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Ian Walley Golf Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Ian Walley

Director

29 September 2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Ian Walley Golf Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08334162 . The registered office is 341 Uttoxeter Road, Mickleover, Derby, DE3 9AH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	20% reducing balance
Fixtures & Fittings	20% straight line
Computer Equipment	25% reducing balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2023: 5)

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Ian Walley Golf Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	108,149	59,363	978	168,490

As at 31 December 2024	108,149	59,363	978	168,490

Depreciation
As at 1 January 2024	41,281	46,693	566	88,540
Provided during the period	13,373	5,529	103	19,005

As at 31 December 2024	54,654	52,222	669	107,545

Net Book Value
As at 31 December 2024	53,495	7,141	309	60,945

As at 1 January 2024	66,868	12,670	412	79,950

5. Stocks

	2024	2023
	£	£
Stock	49,000	45,000

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	7,277	8,352
Bank loans and overdrafts	10,000	10,000
Corporation tax	10,006	5,659
Other taxes and social security	350	708
VAT	11,683	11,350
Other creditors	1,136	-
Accruals and deferred income	7,192	13,848
Directors' loan accounts	32,018	31,212

	79,662	81,129

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	4,812	14,951

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2	2

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