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Registration number: 07345536

Pitch 9 Climbing Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Pitch 9 Climbing Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Pitch 9 Climbing Limited

Company Information

Directors

T Bauer

J Gomez

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

Pitch 9 Climbing Limited

(Registration number: 07345536)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

176,462

94,961

Investments

6

1,000

1,000

 

177,462

95,961

Current assets

 

Stocks

7

33,817

37,480

Debtors

8

22,572

22,344

Cash at bank and in hand

 

325,218

230,488

 

381,607

290,312

Creditors: Amounts falling due within one year

9

(181,066)

(134,092)

Net current assets

 

200,541

156,220

Total assets less current liabilities

 

378,003

252,181

Provisions for liabilities

(44,507)

(17,679)

Net assets

 

333,496

234,502

Capital and reserves

 

Called up share capital

11

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 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 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 Board on 5 April 2024 and signed on its behalf by:



 

.........................................

T Bauer

Director

 

Pitch 9 Climbing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

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

The address of its registered office is:
Maria House
35 Millers Road
Brighton
BN1 5NP

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.

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2022 - 24).

4

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

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2022

49,154

312,066

361,220

Additions

1,809

111,721

113,530

At 31 August 2023

50,963

423,787

474,750

Depreciation

At 1 September 2022

41,339

224,920

266,259

Charge for the year

2,868

29,161

32,029

At 31 August 2023

44,207

254,081

298,288

Carrying amount

At 31 August 2023

6,756

169,706

176,462

At 31 August 2022

7,815

87,146

94,961

6

Investments

2023
£

2022
£

Other investments

1,000

1,000

7

Stocks

2023
£

2022
£

Other inventories

33,817

37,480

8

Debtors

Current

2023
£

2022
£

Trade debtors

943

1,293

Prepayments

21,629

20,359

Other debtors

-

692

 

22,572

22,344

 

Pitch 9 Climbing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

12,755

3,635

Taxation and social security

164,835

128,229

Accruals and deferred income

2,406

2,228

Other creditors

1,070

-

181,066

134,092

10

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £3,780.00 (2022 - £2,920.00) per ordinary share

 

378,000

 

292,000

         

11

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100