Registration number:
Pitch 9 Climbing Limited
for the Year Ended 31 August 2023
Pitch 9 Climbing Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Pitch 9 Climbing Limited
Company Information
Directors |
T Bauer J Gomez |
Registered office |
|
Accountants |
|
Pitch 9 Climbing Limited
(Registration number: 07345536)
Balance Sheet as at 31 August 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investments |
|
|
|
|
|
||
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Retained earnings |
333,396 |
234,402 |
|
Shareholders' funds |
333,496 |
234,502 |
For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Pitch 9 Climbing Limited
(Registration number: 07345536)
Balance Sheet as at 31 August 2023
Approved and authorised by the
.........................................
T Bauer
Director
Pitch 9 Climbing Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
General information |
The company is a private company limited by share capital, incorporated in Other.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Pitch 9 Climbing Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant |
10% Straight Line |
Furniture & Equipment |
25% Reducing Balance |
Computer Equipment |
33% Straight Line |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Pitch 9 Climbing Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Taxation charge |
The tax for the period is attributable to: |
2023 |
2022 |
Current Tax |
||
UK corporation tax |
118,156 |
84,866 |
UK corporation tax adjustment to prior periods |
- |
(85) |
Total current tax charge |
118,156 |
84,781 |
Deferred Tax |
||
Arising from origination and reversal of timing differences |
26,827 |
(2,371) |
Total deferred tax charge |
26,827 |
(2,371) |
Total tax charge for period |
144,983 |
82,410 |
Pitch 9 Climbing Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
Tangible assets |
Furniture, fittings and equipment |
Other tangible assets |
Total |
|
Cost or valuation |
|||
At 1 September 2022 |
|
|
|
Additions |
|
|
|
At 31 August 2023 |
|
|
|
Depreciation |
|||
At 1 September 2022 |
|
|
|
Charge for the year |
|
|
|
At 31 August 2023 |
|
|
|
Carrying amount |
|||
At 31 August 2023 |
|
|
|
At 31 August 2022 |
|
|
|
Investments |
2023 |
2022 |
|
Other investments |
1,000 |
1,000 |
Stocks |
2023 |
2022 |
|
Other inventories |
|
|
Debtors |
Current |
2023 |
2022 |
Trade debtors |
|
|
Prepayments |
|
|
Other debtors |
- |
|
|
|
Pitch 9 Climbing Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
|
Due within one year |
||
Trade creditors |
|
|
Taxation and social security |
|
|
Accruals and deferred income |
|
|
Other creditors |
|
- |
|
|
Dividends |
2023 |
2022 |
|||
£ |
£ |
|||
Interim dividend of £ |
378,000 |
292,000 |
||
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |