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Registered number: 9396231
MAB Gymnastics Academy Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
3NT Ltd
38 Arden Road
Desborough
Kettering
Northants
NN14 2WJ
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of MAB Gymnastics Academy Ltd for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of MAB Gymnastics Academy Ltd for the year ended 31 January 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to the director of MAB Gymnastics Academy Ltd , as a body, in accordance with the terms of our engagement letter dated 12 June 2016. Our work has been undertaken solely to prepare for your approval the accounts of MAB Gymnastics Academy Ltd and state those matters that we have agreed to state to the director of MAB Gymnastics Academy Ltd , as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MAB Gymnastics Academy Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that MAB Gymnastics Academy Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of MAB Gymnastics Academy Ltd . You consider that MAB Gymnastics Academy Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of MAB Gymnastics Academy Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
Laurence Denton
10/10/2024
3NT Ltd
38 Arden Road
Desborough
Kettering
Northants
NN14 2WJ
Page 1
Page 2
Balance Sheet
Registered number: 9396231
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,379 1,839
1,379 1,839
CURRENT ASSETS
Debtors 1,719 440
Cash at bank and in hand 7,347 10,518
9,066 10,958
Creditors: Amounts Falling Due Within One Year 5 (1,926 ) (3,208 )
NET CURRENT ASSETS (LIABILITIES) 7,140 7,750
TOTAL ASSETS LESS CURRENT LIABILITIES 8,519 9,589
PROVISIONS FOR LIABILITIES
Deferred Taxation 6 (262 ) (349 )
NET ASSETS 8,257 9,240
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 8,157 9,140
SHAREHOLDERS' FUNDS 8,257 9,240
Page 2
Page 3
For the year ending 31 January 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 her 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
Miss M A Bates
Director
10/10/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
MAB Gymnastics Academy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 9396231 . The registered office is 134 Park Avenue North, Northampton, Northants, NN3 2JB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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:
Plant & Machinery 25% Reducing Balance
Computer Equipment 25% Reducing Balance
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 3,395 920 4,315
As at 31 January 2024 3,395 920 4,315
Depreciation
As at 1 February 2023 1,944 532 2,476
Provided during the period 363 97 460
As at 31 January 2024 2,307 629 2,936
Net Book Value
As at 31 January 2024 1,088 291 1,379
As at 1 February 2023 1,451 388 1,839
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Page 5
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1
Corporation tax 1,262 2,082
Accruals and deferred income 435 773
Director's loan account 229 352
1,926 3,208
6. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 262 349
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Miss M A Bates 6,000 21,000
9. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 6,000 21,000
10. Ultimate Controlling Party
The company's ultimate controlling party is Miss Mikaela Bates by virtue of her ownership of 100% of the issued share capital in the company.
Page 5