Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseNo description of principal activity12falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08865468 2023-02-01 2024-01-31 08865468 2022-02-01 2023-01-31 08865468 2024-01-31 08865468 2023-01-31 08865468 c:Director1 2023-02-01 2024-01-31 08865468 d:PlantMachinery 2023-02-01 2024-01-31 08865468 d:PlantMachinery 2024-01-31 08865468 d:PlantMachinery 2023-01-31 08865468 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08865468 d:FurnitureFittings 2023-02-01 2024-01-31 08865468 d:FurnitureFittings 2024-01-31 08865468 d:FurnitureFittings 2023-01-31 08865468 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08865468 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08865468 d:CurrentFinancialInstruments 2024-01-31 08865468 d:CurrentFinancialInstruments 2023-01-31 08865468 d:Non-currentFinancialInstruments 2024-01-31 08865468 d:Non-currentFinancialInstruments 2023-01-31 08865468 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 08865468 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 08865468 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 08865468 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 08865468 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 08865468 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 08865468 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 08865468 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 08865468 d:ShareCapital 2024-01-31 08865468 d:ShareCapital 2023-01-31 08865468 d:RetainedEarningsAccumulatedLosses 2024-01-31 08865468 d:RetainedEarningsAccumulatedLosses 2023-01-31 08865468 c:FRS102 2023-02-01 2024-01-31 08865468 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08865468 c:FullAccounts 2023-02-01 2024-01-31 08865468 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08865468 d:WithinOneYear 2024-01-31 08865468 d:WithinOneYear 2023-01-31 08865468 d:BetweenOneFiveYears 2024-01-31 08865468 d:BetweenOneFiveYears 2023-01-31 08865468 d:MoreThanFiveYears 2024-01-31 08865468 d:MoreThanFiveYears 2023-01-31 08865468 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Registered number: 08865468





AQUALIFE SWIM SCHOOL LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




















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AQUALIFE SWIM SCHOOL LTD
REGISTERED NUMBER:08865468

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,053
11,238

  
6,053
11,238

Current assets
  

Stocks
 5 
500
800

Debtors: amounts falling due within one year
 6 
544
-

Cash at bank and in hand
  
2,358
8,555

  
3,402
9,355

Creditors: amounts falling due within one year
 7 
(4,820)
(5,112)

Net current (liabilities)/assets
  
 
 
(1,418)
 
 
4,243

Total assets less current liabilities
  
4,635
15,481

Creditors: amounts falling due after more than one year
 8 
(3,643)
(5,654)

  

Net assets
  
992
9,827


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
892
9,727

  
992
9,827


Page 1

 
AQUALIFE SWIM SCHOOL LTD
REGISTERED NUMBER:08865468
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 October 2024.




H Briggs
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
AQUALIFE SWIM SCHOOL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Aqualife Swim School Ltd is a private company, limited by shares, domiciled in England. The registered office is 14 Chanctonbury, Ashington, Pulborough, RH20 3QE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors confirm that, having considered their expectations and intentions for the next twelve months, and the availability of working capital, the company is a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
AQUALIFE SWIM SCHOOL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Straight-Line
Fixtures and fittings
-
20%
Straight-Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 4

 
AQUALIFE SWIM SCHOOL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Page 5

 
AQUALIFE SWIM SCHOOL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 2).

Page 6

 
AQUALIFE SWIM SCHOOL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 February 2023
40,998
12,346
53,344


Additions
-
589
589



At 31 January 2024

40,998
12,935
53,933



Depreciation


At 1 February 2023
34,247
7,859
42,106


Charge for the year on owned assets
4,100
1,674
5,774



At 31 January 2024

38,347
9,533
47,880



Net book value



At 31 January 2024
2,651
3,402
6,053



At 31 January 2023
6,751
4,487
11,238

Page 7

 
AQUALIFE SWIM SCHOOL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
500
800

500
800



6.


Debtors

2024
2023
£
£


Prepayments and accrued income
544
-

544
-



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
2,011
1,962

Trade creditors
180
-

Corporation tax
11
499

Other creditors
2,618
2,651

4,820
5,112



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,643
5,654

3,643
5,654


Page 8

 
AQUALIFE SWIM SCHOOL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
2,011
1,962


2,011
1,962

Amounts falling due 1-2 years

Bank loans
2,062
2,011


2,062
2,011

Amounts falling due 2-5 years

Bank loans
1,581
3,643


1,581
3,643


5,654
7,616



10.


Commitments under operating leases

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
20,361
15,768

Later than 1 year and not later than 5 years
21,389
15,768

Later than 5 years
50,001
47,304

91,751
78,840

 
Page 9