T M Taekwondo Ltd 14370923 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is that of a Taekwondo training organisation. Digita Accounts Production Advanced 6.30.9574.0 true true 14370923 2022-10-01 2023-09-30 14370923 2023-09-30 14370923 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 14370923 core:Goodwill 2023-09-30 14370923 core:MotorVehicles 2023-09-30 14370923 bus:SmallEntities 2022-10-01 2023-09-30 14370923 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 14370923 bus:FullAccounts 2022-10-01 2023-09-30 14370923 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 14370923 bus:RegisteredOffice 2022-10-01 2023-09-30 14370923 bus:Director1 2022-10-01 2023-09-30 14370923 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 14370923 core:Goodwill 2022-10-01 2023-09-30 14370923 core:MotorVehicles 2022-10-01 2023-09-30 14370923 countries:England 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 14370923

T M Taekwondo Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

T M Taekwondo Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

T M Taekwondo Ltd

Company Information

Director

Mr T Morgan

Registered office

35 Thorne Road
Doncaster
South Yorkshire
DN1 2HD

 

T M Taekwondo Ltd

(Registration number: 14370923)
Balance Sheet as at 30 September 2023

Note

2023
£

Fixed assets

 

Intangible assets

4

5,400

Tangible assets

5

28,540

 

33,940

Current assets

 

Cash at bank and in hand

 

2,967

Creditors: Amounts falling due within one year

6

(25,122)

Net current liabilities

 

(22,155)

Net assets

 

11,785

Capital and reserves

 

Called up share capital

100

Retained earnings

11,685

Shareholders' funds

 

11,785

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 5 April 2024
 

.........................................
Mr T Morgan
Director

 

T M Taekwondo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

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

The address of its registered office is:
35 Thorne Road
Doncaster
South Yorkshire
DN1 2HD

These financial statements were authorised for issue by the director on 5 April 2024.

2

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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:

 

T M Taekwondo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Asset class

Depreciation method and rate

Motor vehicles

15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

Goodwill

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1.

 

T M Taekwondo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

6,000

6,000

At 30 September 2023

6,000

6,000

Amortisation

Amortisation charge

600

600

At 30 September 2023

600

600

Carrying amount

At 30 September 2023

5,400

5,400

5

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

33,400

33,400

At 30 September 2023

33,400

33,400

Depreciation

Charge for the year

4,860

4,860

At 30 September 2023

4,860

4,860

Carrying amount

At 30 September 2023

28,540

28,540

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Accruals and deferred income

900

Other creditors

24,222

25,122