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Registered Number: 13389629
England and Wales

 

 

 

WOW ACTIVE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Accountants report
You consider that the company is exempt from an audit for the year ended 31 May 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Doyles
31 May 2024



....................................................
Doyles
51 Station Road
Marston Green
Birmingham
West Midlands
B37 7AB
23 September 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 11,949    19,600 
11,949    19,600 
Current assets      
Debtors 60,559    27,523 
Cash at bank and in hand 24,468    16,014 
85,027    43,537 
Creditors: amount falling due within one year (32,988)   (23,862)
Net current assets 52,039    19,675 
 
Total assets less current liabilities 63,988    39,275 
Provisions for liabilities (2,270)   (3,724)
Net assets 61,718    35,551 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 61,618    35,451 
Shareholders' funds 61,718    35,551 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 23 September 2024 and were signed by:


-------------------------------
Michael Brennan
Director
2
General Information
WOW Active Ltd is a private company, limited by shares, registered in England and Wales, registration number 13389629, registration address Avon House 435 Stratford Road, Shirley, Solihull, B90 4AA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over 4 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 June 2023 30,601    30,601 
Additions  
Disposals  
At 31 May 2024 30,601    30,601 
Depreciation
At 01 June 2023 11,001    11,001 
Charge for year 7,651    7,651 
On disposals  
At 31 May 2024 18,652    18,652 
Net book values
Closing balance as at 31 May 2024 11,949    11,949 
Opening balance as at 01 June 2023 19,600    19,600 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
Fit 4 Schools (Midlands) Ltd (32,547)(22,000)54,547 22,000 
Fit 4 Schools (UK) Ltd (58)58 
Wow 4 Schools Ltd20,000 (20,000)

In 2023 a £22,000 loan was made to Fit 4 Schools (Midlands) Ltd by the company. The loan is short-term, open-ended, and interest-free. During the year the company incurred costs on behalf of Fit 4 Schools Limited funded trough the Inter Company Loan account
During the year the company incured expenditure on behalf of the related company, funded through the Inter Company Loan Account
During the year a Loan of £20,000 was received by th ecompany. The loan is flexible, open ended and interest free
6.

Ultimate Controlling Party

The ultimate controlling party is the director, by virtue of their 100% shareholding of the company's issued share capital.
3