Seaton Swimming School Ltd 13901534 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is the provision of swimming lessons and associate activities. Digita Accounts Production Advanced 6.30.9574.0 true true 13901534 2023-03-01 2024-02-29 13901534 2024-02-29 13901534 core:CurrentFinancialInstruments 2024-02-29 13901534 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 13901534 core:FurnitureFittings 2024-02-29 13901534 1 2024-02-29 13901534 bus:SmallEntities 2023-03-01 2024-02-29 13901534 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13901534 bus:FilletedAccounts 2023-03-01 2024-02-29 13901534 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13901534 bus:RegisteredOffice 2023-03-01 2024-02-29 13901534 bus:Director1 2023-03-01 2024-02-29 13901534 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13901534 core:FurnitureFittings 2023-03-01 2024-02-29 13901534 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 13901534 countries:EnglandWales 2023-03-01 2024-02-29 13901534 1 2023-03-01 2024-02-29 13901534 2023-02-28 13901534 core:FurnitureFittings 2023-02-28 13901534 1 2023-02-28 13901534 2022-03-01 2023-02-28 13901534 2023-02-28 13901534 core:CurrentFinancialInstruments 2023-02-28 13901534 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13901534 core:FurnitureFittings 2023-02-28 13901534 1 2023-02-28 13901534 1 2022-03-01 2023-02-28 13901534 1 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 13901534

Seaton Swimming School Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Seaton Swimming School Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Seaton Swimming School Ltd

(Registration number: 13901534)
Statement of Financial Position as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

111

139

Current assets

 

Debtors

5

19,271

-

Cash at bank and in hand

 

2,913

15,798

 

22,184

15,798

Creditors: Amounts falling due within one year

6

(22,173)

(18,730)

Net current assets/(liabilities)

 

11

(2,932)

Total assets less current liabilities

 

122

(2,793)

Provisions for liabilities

(21)

(26)

Net assets/(liabilities)

 

101

(2,819)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

1

(2,919)

Shareholders' funds/(deficit)

 

101

(2,819)

 

Seaton Swimming School Ltd

(Registration number: 13901534)
Statement of Financial Position as at 29 February 2024 (continued)

For the financial year ending 29 February 2024 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 her 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 Statement of Comprehensive Income.

Approved and authorised by the director on 22 April 2024
 


Ms Faye Davis-Carrau
Director

 

Seaton Swimming School Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
Timberly
South Street
Axminster
Devon
EX13 5AD

Principal activity

The principal activity of the company is the provision of swimming lessons and associate activities.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

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

 

Seaton Swimming School Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

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 statement of financial position 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

Fixtures, fittings and equipment

20% reducing balance

 

Seaton Swimming School Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 1).

 

Seaton Swimming School Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 29 February 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 March 2023

174

174

At 29 February 2024

174

174

Depreciation

At 1 March 2023

35

35

Charge for the year

28

28

At 29 February 2024

63

63

Carrying amount

At 29 February 2024

111

111

At 28 February 2023

139

139

5

Debtors

2024
£

2023
£

Other debtors

18,963

-

Prepayments

308

-

19,271

-

 

Seaton Swimming School Ltd

Notes to the Unaudited Financial Statements for the
Year Ended 29 February 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

3,026

2,490

Accruals and deferred income

9,247

1,000

Other creditors

9,900

15,240

22,173

18,730

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Related party transactions

Transactions with the director

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Director

(1,073)

32,775

(23,190)

8,512

         
       

 

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Director

-

100

(1,173)

(1,073)