The Association of Climbing Walls (Britain) Limited |
Registered number: |
03031032 |
Balance Sheet |
as at 31 March 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
135 |
|
|
203 |
Investments |
4 |
|
|
1 |
|
|
1 |
|
|
|
|
136 |
|
|
204 |
|
Current assets |
Debtors |
5 |
|
66,696 |
|
|
166,201 |
Cash at bank and in hand |
|
|
167,780 |
|
|
94,653 |
|
|
|
234,476 |
|
|
260,854 |
|
Creditors: amounts falling due within one year |
6 |
|
(136,997) |
|
|
(185,406) |
|
Net current assets |
|
|
|
97,479 |
|
|
75,448 |
|
Net assets |
|
|
|
97,615 |
|
|
75,652 |
|
|
|
|
|
|
|
|
Capital and reserves |
Profit and loss account |
|
|
|
97,615 |
|
|
75,652 |
|
Members' funds |
|
|
|
97,615 |
|
|
75,652 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Mr D Howard |
Director |
Approved by the board on 19 September 2024 |
|
The Association of Climbing Walls (Britain) Limited |
Notes to the Accounts |
for the year ended 31 March 2024 |
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|
1 |
Accounting policies |
|
|
Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Preparation of consolidated financial statements |
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The financial statements contain information about The Association of Climbing Walls (Britain) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under section 399 (2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements as the group is a small group. |
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|
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Going concern |
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After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing these financial statements. |
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|
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Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is also measured net of the estimated value of customer returns and volume rebates. |
|
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Office equipment |
33.33% reducing balance |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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|
|
Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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|
Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 April 2023 |
2,428 |
|
At 31 March 2024 |
2,428 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2023 |
2,225 |
|
Charge for the year |
68 |
|
At 31 March 2024 |
2,293 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2024 |
135 |
|
At 31 March 2023 |
203 |
|
|
4 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
|
Cost |
|
At 1 April 2023 |
1 |
|
|
At 31 March 2024 |
1 |
|
|
5 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
29,094 |
|
133,680 |
|
Other debtors |
37,602 |
|
32,521 |
|
|
|
|
|
|
66,696 |
|
166,201 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
5,106 |
|
1,627 |
|
Taxation and social security costs |
10,243 |
|
17,262 |
|
Other creditors |
121,648 |
|
166,517 |
|
|
|
|
|
|
136,997 |
|
185,406 |
|
|
|
|
|
|
|
|
|
|
|
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|
7 |
Other information |
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The Association of Climbing Walls (Britain) Limited is a private company limited by guarantee and has no share capital. It was incorporated in England and Wales under company number 03031032. Its registered office is: |
|
The Castle Climbing Centre |
|
Green Lanes |
|
London |
|
N4 2HA |
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Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1. |