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Registered number: 09650992
Ascent Trampoline Park Limited
Unaudited Financial Statements
For the Period 1 April 2023 to 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09650992
31 December 2023 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 262,056 281,769
262,056 281,769
CURRENT ASSETS
Debtors 5 13,489 -
Cash at bank and in hand 164,956 137,675
178,445 137,675
Creditors: Amounts Falling Due Within One Year 6 (201,420 ) (144,309 )
NET CURRENT ASSETS (LIABILITIES) (22,975 ) (6,634 )
TOTAL ASSETS LESS CURRENT LIABILITIES 239,081 275,135
Creditors: Amounts Falling Due After More Than One Year 7 - (34,315 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (46,303 ) (17,020 )
NET ASSETS 192,778 223,800
CAPITAL AND RESERVES
Called up share capital 9 500 500
Share premium account 200,300 200,300
Profit and Loss Account (8,022 ) 23,000
SHAREHOLDERS' FUNDS 192,778 223,800
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Page 2
For the period ending 31 December 2023 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 Profit and Loss Account.
On behalf of the board
Mr Timothy McClure
Director
2nd October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ascent Trampoline Park Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09650992 . The registered office is 5 Britannia Road, Patchway, Bristol, BS34 5TA.
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:
Leasehold 10% on cost
Plant & Machinery 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 89 (2023: 90)
89 90
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 165,261 740,945 26,538 30,336 963,080
Additions - 42,542 680 1,352 44,574
As at 31 December 2023 165,261 783,487 27,218 31,688 1,007,654
Depreciation
As at 1 April 2023 115,683 525,492 21,485 18,651 681,311
Provided during the period 12,394 48,374 1,075 2,444 64,287
As at 31 December 2023 128,077 573,866 22,560 21,095 745,598
Net Book Value
As at 31 December 2023 37,184 209,621 4,658 10,593 262,056
As at 1 April 2023 49,578 215,453 5,053 11,685 281,769
5. Debtors
31 December 2023 31 March 2023
£ £
Due within one year
Prepayments and accrued income 13,489 -
13,489 -
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6. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 March 2023
£ £
Net obligations under finance lease and hire purchase contracts - 5,801
Trade creditors 45,748 41,198
Bank loans and overdrafts 38,928 5,500
Other creditors 28,175 12,967
Taxation and social security 88,569 78,843
201,420 144,309
7. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 31 March 2023
£ £
Bank loans - 34,315
- 34,315
8. Obligations Under Finance Leases and Hire Purchase
31 December 2023 31 March 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 5,801
Later than one year and not later than five years - -
- 5,801
- 5,801
9. Share Capital
31 December 2023 31 March 2023
£ £
Allotted, Called up and fully paid 500 500
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