Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 NI659376 Mr Simon Hutchinson Mr Martin McClenaghan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI659376 2023-02-28 NI659376 2024-02-29 NI659376 2023-03-01 2024-02-29 NI659376 frs-core:FurnitureFittings 2023-03-01 2024-02-29 NI659376 frs-core:PlantMachinery 2023-03-01 2024-02-29 NI659376 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 NI659376 frs-bus:CompanyLimitedByGuarantee 2023-03-01 2024-02-29 NI659376 frs-bus:AbridgedAccounts 2023-03-01 2024-02-29 NI659376 frs-bus:SmallEntities 2023-03-01 2024-02-29 NI659376 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 NI659376 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 NI659376 frs-bus:Director1 2023-03-01 2024-02-29 NI659376 frs-bus:Director2 2023-03-01 2024-02-29 NI659376 frs-countries:NorthernIreland 2023-03-01 2024-02-29 NI659376 2022-02-28 NI659376 2023-02-28 NI659376 2022-03-01 2023-02-28 NI659376 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: NI659376
NEW GROUND JIU JITSU ACADEMY
Unaudited ABRIDGED Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: NI659376
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,976 4,573
16,976 4,573
CURRENT ASSETS
Stocks 1,500 300
Debtors - 1,345
Cash at bank and in hand 1,341 358
2,841 2,003
Creditors: Amounts Falling Due Within One Year (11,716 ) (6,535 )
NET CURRENT ASSETS (LIABILITIES) (8,875 ) (4,532 )
TOTAL ASSETS LESS CURRENT LIABILITIES 8,101 41
NET ASSETS 8,101 41
Income and Expenditure Account 8,101 41
MEMBERS' FUNDS 8,101 41
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
All of the company's members have consented to the preparation of an Abridged Income and Expenditure Account and an Abridged Balance Sheet for the year end 29 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Simon Hutchinson
Director
Mr Martin McClenaghan
Director
14 August 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
NEW GROUND JIU JITSU ACADEMY is a private company, limited by guarantee, incorporated in Northern Ireland, registered number NI659376 . The registered office is 2-6 Union Street, Belfast, BT1 2JF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Striaght Line
Fixtures & Fittings 25% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Government Grant
Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: NIL)
3 -
4. Tangible Assets
Total
£
Cost
As at 1 March 2023 16,436
Additions 16,495
As at 29 February 2024 32,931
Depreciation
As at 1 March 2023 11,863
Provided during the period 4,092
As at 29 February 2024 15,955
Net Book Value
As at 29 February 2024 16,976
As at 1 March 2023 4,573
5. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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