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REGISTERED NUMBER: 03201193 (England and Wales)












ACTIVATE OUTDOORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024






ACTIVATE OUTDOORS LIMITED (REGISTERED NUMBER: 03201193)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ACTIVATE OUTDOORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTORS: R Crates
M J King



SECRETARY: R Crates



REGISTERED OFFICE: The New Forest Outdoor Centre
Minstead Manor Estate
Minstead, Emery Down
Lyndhurst
Hampshire
SO43 7GA



REGISTERED NUMBER: 03201193 (England and Wales)



BANKERS: Lloyds Bank plc
39 High Street
Lymington
Hampshire
SO41 9ZF

ACTIVATE OUTDOORS LIMITED (REGISTERED NUMBER: 03201193)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 558,131 616,363
Tangible assets 5 1,101,886 882,068
1,660,017 1,498,431

CURRENT ASSETS
Debtors 6 67,863 94,609
Cash at bank and in hand 136,544 292,167
204,407 386,776
CREDITORS
Amounts falling due within one year 7 (521,342 ) (619,050 )
NET CURRENT LIABILITIES (316,935 ) (232,274 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,343,082

1,266,157

CREDITORS
Amounts falling due after more than one
year

8

(720,903

)

(689,000

)

PROVISIONS FOR LIABILITIES (77,072 ) (77,072 )
NET ASSETS 545,107 500,085

ACTIVATE OUTDOORS LIMITED (REGISTERED NUMBER: 03201193)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2024

2024 2023
Notes £ £
CAPITAL AND RESERVES
Called up share capital 100 100
P&L reserve non-distributable 226,196 226,196
Retained earnings 318,811 273,789
SHAREHOLDERS' FUNDS 545,107 500,085

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:





R Crates - Director


ACTIVATE OUTDOORS LIMITED (REGISTERED NUMBER: 03201193)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024


1. STATUTORY INFORMATION

Activate Outdoors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the small companies exemption not to prepare consolidated accounts.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of 15-20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 0 - 12.5% on cost
Improvements to property - Straight line over 10 years
Plant and machinery - at variable rates on reducing balance
Fixtures and fittings - 10% Straight line
Motor vehicles - 20% Reducing balance
Computer equipment - 20% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

ACTIVATE OUTDOORS LIMITED (REGISTERED NUMBER: 03201193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

ACTIVATE OUTDOORS LIMITED (REGISTERED NUMBER: 03201193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 March 2023
and 28 February 2024 907,525
AMORTISATION
At 1 March 2023 291,162
Amortisation for year 58,232
At 28 February 2024 349,394
NET BOOK VALUE
At 28 February 2024 558,131
At 28 February 2023 616,363

5. TANGIBLE FIXED ASSETS
Freehold Improvements Plant and
property to property machinery
£ £ £
COST OR VALUATION
At 1 March 2023 752,532 18,613 165,399
Additions 248,567 - -
At 28 February 2024 1,001,099 18,613 165,399
DEPRECIATION
At 1 March 2023 11,856 4,901 66,195
Charge for year 2,965 3,722 16,243
At 28 February 2024 14,821 8,623 82,438
NET BOOK VALUE
At 28 February 2024 986,278 9,990 82,961
At 28 February 2023 740,676 13,712 99,204

ACTIVATE OUTDOORS LIMITED (REGISTERED NUMBER: 03201193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST OR VALUATION
At 1 March 2023 43,018 35,632 23,289 1,038,483
Additions - - 707 249,274
At 28 February 2024 43,018 35,632 23,996 1,287,757
DEPRECIATION
At 1 March 2023 31,634 25,250 16,579 156,415
Charge for year 2,966 2,076 1,484 29,456
At 28 February 2024 34,600 27,326 18,063 185,871
NET BOOK VALUE
At 28 February 2024 8,418 8,306 5,933 1,101,886
At 28 February 2023 11,384 10,382 6,710 882,068

Cost or valuation at 28 February 2024 is represented by:

Freehold Improvements Plant and
property to property machinery
£ £ £
Valuation in 2019 115,958 - 24,608
Valuation in 2022 100,000 - -
Cost 785,141 18,613 140,791
1,001,099 18,613 165,399

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
Valuation in 2019 - 2,108 - 142,674
Valuation in 2022 - - - 100,000
Cost 43,018 33,524 23,996 1,045,083
43,018 35,632 23,996 1,287,757

Freehold property was valued on an open market basis on 28 February 2024 by the directors .

ACTIVATE OUTDOORS LIMITED (REGISTERED NUMBER: 03201193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 63,762 92,285
Other debtors 4,101 2,324
67,863 94,609

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 64,360 94,149
Trade creditors 42,188 54,057
Taxation and social security 75,327 77,713
Other creditors 339,467 393,131
521,342 619,050

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 529,140 403,967
Other creditors 191,763 285,033
720,903 689,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalments 529,140 403,967
529,140 403,967

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 29,234 29,234
Between one and five years 95,968 125,202
125,202 154,436

ACTIVATE OUTDOORS LIMITED (REGISTERED NUMBER: 03201193)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 593,500 498,116

The bank borrowing is secured by fixed and floating charges over the company's assets.