My baby girlfriend, German Shorthaired Pointer (GSP) is limited registered.
Additionally to Netix's post, another difference between registered and limited is the price.

My girl is small for her breed, perhaps that is why she is only limited. I don't mind, I love her just the same.

With Labs (pretty sure the same goes for Golden R's) ask if the parents have been given the all clear medically for any hip problems. They should come with papers stating this as well.

Have fun with your new puppy