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Registered number: 07191492
Paintballing Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Passman Leonard Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07191492
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,482 4,846
4,482 4,846
CURRENT ASSETS
Debtors 5 104,463 144,600
Cash at bank and in hand 1,058,215 854,573
1,162,678 999,173
Creditors: Amounts Falling Due Within One Year 6 (104,991 ) (107,489 )
NET CURRENT ASSETS (LIABILITIES) 1,057,687 891,684
TOTAL ASSETS LESS CURRENT LIABILITIES 1,062,169 896,530
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (852 ) (921 )
NET ASSETS 1,061,317 895,609
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account 1,060,317 894,609
SHAREHOLDERS' FUNDS 1,061,317 895,609
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Profit and Loss Account.
On behalf of the board
Mr J Toohig
Director
16 August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Paintballing Limited Registered number 07191492 is a limited by shares company incorporated in England & Wales. The Registered Office is Bentinck House, Bentinck Road, West Drayton, Middlesex, UB7 7RQ.
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 50% Straight Line
2.4. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 6 6
6 6
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 11,237 8,025 19,262
Additions 1,130 - 1,130
As at 31 March 2024 12,367 8,025 20,392
Depreciation
As at 1 April 2023 6,391 8,025 14,416
Provided during the period 1,494 - 1,494
As at 31 March 2024 7,885 8,025 15,910
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 4,482 - 4,482
As at 1 April 2023 4,846 - 4,846
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 391 125
Other debtors 6,875 6,875
Amounts owed by other participating interests 97,197 137,600
104,463 144,600
Included in amounts owed by connected companies is an amount of £97,197 (2023 - £137,600) owed by F & F Corporation Limited, a company registered and incorporated in the UK, in which Mr. J. J. Toohig is a director and shareholder.
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,286 4,033
Corporation tax 62,616 57,086
Other taxes and social security - 473
VAT 35,153 43,038
Net wages - 499
Pension contribution - creditor 483 -
Accruals 1,350 2,270
Director's loan account 103 90
104,991 107,489
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 852 921
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Controlling Party
The company's controlling party is Mr. J. Toohig by virtue of his ownership of 55% of the issued share capital in the company.
Page 4