REGISTERED NUMBER: |
Split Leaps Gymnastics Ltd |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
REGISTERED NUMBER: |
Split Leaps Gymnastics Ltd |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
Split Leaps Gymnastics Ltd (Registered number: 12101746) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Split Leaps Gymnastics Ltd |
Company Information |
for the Year Ended 31 July 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
5 Queen Street |
Great Yarmouth |
Norfolk |
NR30 2QP |
Split Leaps Gymnastics Ltd (Registered number: 12101746) |
Statement of Financial Position |
31 July 2023 |
31/7/23 | 31/7/22 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities | 7 |
Net assets |
Reserves |
Retained earnings |
Members' funds |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Split Leaps Gymnastics Ltd (Registered number: 12101746) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | Statutory information |
Split Leaps Gymnastics Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Financial instruments |
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. Debt instruments are subsequently measured at amortised cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | Employees and directors |
The average number of employees during the year was |
Split Leaps Gymnastics Ltd (Registered number: 12101746) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 1 August 2022 |
Additions |
At 31 July 2023 |
Depreciation |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
Net book value |
At 31 July 2023 |
At 31 July 2022 |
5. | Debtors |
31/7/23 | 31/7/22 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Directors loan account | 1,854 | 1,854 |
Amounts falling due after more than one year: |
Tax recoverable (S455) | 603 | 603 |
Aggregate amounts |
6. | Creditors: amounts falling due within one year |
31/7/23 | 31/7/22 |
£ | £ |
Tax |
Social security and other taxes |
Accrued expenses |
7. | Provisions for liabilities |
31/7/23 | 31/7/22 |
£ | £ |
Deferred tax | 1,461 | 2,175 |
Split Leaps Gymnastics Ltd (Registered number: 12101746) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
7. | Provisions for liabilities - continued |
Deferred |
tax |
£ |
Balance at 1 August 2022 |
Credit to Income Statement during year | ( |
) |
Balance at 31 July 2023 |
8. | Related party disclosures |
During the year the company provided financial assistance to director Mr JC Amis amounting to £1,854 Interest was charged upon the loan at a commercial rate of 2.5% p.a and amounted to £46 |
The amount outstanding at the year end was £1,854 (2022 £1,854) |
9. | Limited by guarantee |
The company is limited by guarantee and has no share capital. |
The liability of each member is limited to £1, this being the amount that each member undertakes to contribute to the assets of the company in the event of it being wound up. |