Caseware UK (AP4) 2022.0.179 2022.0.179 2022-09-302022-09-30No description of principal activityfalsetruefalse2022-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22 01533437 2022-04-01 2022-09-30 01533437 2021-04-01 2022-03-31 01533437 2022-09-30 01533437 2022-03-31 01533437 c:Director1 2022-04-01 2022-09-30 01533437 d:CurrentFinancialInstruments 2022-09-30 01533437 d:CurrentFinancialInstruments 2022-03-31 01533437 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 01533437 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 01533437 d:ShareCapital 2022-09-30 01533437 d:ShareCapital 2022-03-31 01533437 d:RetainedEarningsAccumulatedLosses 2022-09-30 01533437 d:RetainedEarningsAccumulatedLosses 2022-03-31 01533437 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-09-30 01533437 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 01533437 c:FRS102 2022-04-01 2022-09-30 01533437 c:AuditExempt-NoAccountantsReport 2022-04-01 2022-09-30 01533437 c:FullAccounts 2022-04-01 2022-09-30 01533437 c:PrivateLimitedCompanyLtd 2022-04-01 2022-09-30 01533437 e:PoundSterling 2022-04-01 2022-09-30 iso4217:GBP xbrli:pure
Registered number: 01533437














FOLKESTONE SPORTS CENTRE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 30 SEPTEMBER 2022

 
FOLKESTONE SPORTS CENTRE LIMITED
REGISTERED NUMBER:01533437

BALANCE SHEET
AS AT 30 SEPTEMBER 2022

30 September
31 March
2022
2022
Note

  

Current assets
  

Stocks
  
2,649
2,649

Debtors: amounts falling due within one year
 4 
15
105

Cash at bank and in hand
 5 
22,846
19,870

  
25,510
22,624

Creditors: amounts falling due within one year
 6 
(63,684)
(66,899)

Net current liabilities
  
 
 
(38,174)
 
 
(44,275)

Total assets less current liabilities
  
(38,174)
(44,275)

  

Net liabilities
  
£(38,174)
£(44,275)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(38,176)
(44,277)

  
£(38,174)
£(44,275)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 March 2024.


___________________________
P F Gardner
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
FOLKESTONE SPORTS CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2022

1.


General information

Folkestone Sports Centre Limited is a private company, limited by shares. 
The Company is registered in England and Wales under company number 01533437. 
The registered office address of the Company is The Sports Centre, Radnor Park Avenue, Folkestone, Kent, CT19 5HX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
FOLKESTONE SPORTS CENTRE LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the
Page 3

 
FOLKESTONE SPORTS CENTRE LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)


2.8
Financial instruments (continued)

present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2022 - 2).


4.


Debtors

30 September
31 March
2022
2022


Prepayments and accrued income
15
105

£15
£105


Page 4

 
FOLKESTONE SPORTS CENTRE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2022

5.


Cash and cash equivalents

30 September
31 March
2022
2022

Cash at bank and in hand
22,846
19,870

£22,846
£19,870



6.


Creditors: Amounts falling due within one year

30 September
31 March
2022
2022

Trade creditors
21,027
17,356

Amounts owed to group undertakings
36,534
45,385

Other taxation and social security
2,543
1,818

Other creditors
-
420

Accruals and deferred income
3,580
1,920

£63,684
£66,899



7.


Financial instruments

30 September
31 March
2022
2022

Financial assets


Financial assets measured at fair value through profit or loss
£22,846
£19,870




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


Page 5