World Cheerleading Company Limited 07990297 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is cheerleading. Digita Accounts Production Advanced 6.30.9574.0 true 07990297 2023-04-01 2024-03-31 07990297 2024-03-31 07990297 core:CurrentFinancialInstruments 2024-03-31 07990297 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07990297 core:Non-currentFinancialInstruments 2024-03-31 07990297 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 07990297 core:FurnitureFittingsToolsEquipment 2024-03-31 07990297 bus:SmallEntities 2023-04-01 2024-03-31 07990297 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07990297 bus:FullAccounts 2023-04-01 2024-03-31 07990297 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07990297 bus:RegisteredOffice 2023-04-01 2024-03-31 07990297 bus:Director1 2023-04-01 2024-03-31 07990297 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07990297 core:FurnitureFittings 2023-04-01 2024-03-31 07990297 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 07990297 core:OfficeEquipment 2023-04-01 2024-03-31 07990297 countries:EnglandWales 2023-04-01 2024-03-31 07990297 2023-03-31 07990297 core:FurnitureFittingsToolsEquipment 2023-03-31 07990297 2022-04-01 2023-03-31 07990297 2023-03-31 07990297 core:CurrentFinancialInstruments 2023-03-31 07990297 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07990297 core:Non-currentFinancialInstruments 2023-03-31 07990297 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 07990297 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 07990297

World Cheerleading Company Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

image-name
 

World Cheerleading Company Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

World Cheerleading Company Limited

Company Information

Director

Miss A Leather

Registered office

22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

Accountants

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

World Cheerleading Company Limited

(Registration number: 07990297)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,754

9,279

Current assets

 

Stocks

5

8,500

2,500

Debtors

6

1,556

9,222

Cash at bank and in hand

 

162,262

142,420

 

172,318

154,142

Creditors: Amounts falling due within one year

7

(77,853)

(74,140)

Net current assets

 

94,465

80,002

Total assets less current liabilities

 

98,219

89,281

Creditors: Amounts falling due after more than one year

7

(17,508)

(27,599)

Provisions for liabilities

(827)

199

Net assets

 

79,884

61,881

Capital and reserves

 

Called up share capital

1

1

Retained earnings

79,883

61,880

Shareholders' funds

 

79,884

61,881

For the financial 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.

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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 2 September 2024
 

 

World Cheerleading Company Limited

(Registration number: 07990297)
Balance Sheet as at 31 March 2024

.........................................
Miss A Leather
Director

 

World Cheerleading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ
England

These financial statements were authorised for issue by the director on 2 September 2024.

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.

Turnover

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.

 

World Cheerleading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

Office equipment

33% on cost

Fixtures and fittings

33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

World Cheerleading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

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

 

World Cheerleading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

25,883

25,883

At 31 March 2024

25,883

25,883

Depreciation

At 1 April 2023

16,604

16,604

Charge for the year

5,525

5,525

At 31 March 2024

22,129

22,129

Carrying amount

At 31 March 2024

3,754

3,754

At 31 March 2023

9,279

9,279

5

Stocks

2024
£

2023
£

Inventory

8,500

2,500

6

Debtors

Current

2024
£

2023
£

Prepayments

1,556

1,414

VAT Control account

-

7,808

1,556

9,222

 

World Cheerleading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

8

10,092

9,793

Trade creditors

 

-

48

Directors loan account

35,627

56,825

Accruals

 

5,316

875

Corporation tax control

 

16,369

6,599

VAT Control account

 

1,393

-

Other creditors

 

9,056

-

 

77,853

74,140

Due after one year

 

Loans and borrowings

8

17,508

27,599

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

17,508

27,599

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,092

9,793