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Company No: 12588262 (England and Wales)

ONLINE SEA KAYAKING LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

ONLINE SEA KAYAKING LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

ONLINE SEA KAYAKING LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2024
ONLINE SEA KAYAKING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2024
DIRECTORS S C Osborne
J M Stevenson
REGISTERED OFFICE 2 Llwyn Ysgolaig
Gwyllt Road
Llanfairfechan
LL33 0ED
Wales
United Kingdom
COMPANY NUMBER 12588262 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
ONLINE SEA KAYAKING LIMITED

BALANCE SHEET

As at 31 May 2024
ONLINE SEA KAYAKING LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 95,268 80,552
95,268 80,552
Current assets
Debtors 4 0 2,140
Cash at bank and in hand 80,953 73,434
80,953 75,574
Creditors: amounts falling due within one year 5 ( 37,286) ( 27,629)
Net current assets 43,667 47,945
Total assets less current liabilities 138,935 128,497
Provision for liabilities ( 23,817) ( 20,138)
Net assets 115,118 108,359
Capital and reserves
Called-up share capital 6 10 10
Profit and loss account 115,108 108,349
Total shareholders' funds 115,118 108,359

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Online Sea Kayaking Limited (registered number: 12588262) were approved and authorised for issue by the Board of Directors on 06 November 2024. They were signed on its behalf by:

S C Osborne
Director
ONLINE SEA KAYAKING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
ONLINE SEA KAYAKING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Online Sea Kayaking Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Llwyn Ysgolaig, Gwyllt Road, Llanfairfechan, LL33 0ED, Wales, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered via subscription.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Computer equipment 15 % reducing balance
Other property, plant and equipment 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Tangible assets

Plant and machinery Computer equipment Other property, plant
and equipment
Total
£ £ £ £
Cost
At 01 June 2023 49,282 7,904 39,805 96,991
Additions 10,439 3,939 16,533 30,911
Disposals ( 6,789) 0 0 ( 6,789)
At 31 May 2024 52,932 11,843 56,338 121,113
Accumulated depreciation
At 01 June 2023 8,943 1,116 6,380 16,439
Charge for the financial year 6,260 1,365 3,981 11,606
Disposals ( 2,200) 0 0 ( 2,200)
At 31 May 2024 13,003 2,481 10,361 25,845
Net book value
At 31 May 2024 39,929 9,362 45,977 95,268
At 31 May 2023 40,339 6,788 33,425 80,552

4. Debtors

2024 2023
£ £
Other debtors 0 2,140

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 6,300 1,200
Amounts owed to directors 1,955 1,486
Accruals 4,125 3,492
Corporation tax 21,117 19,741
Other taxation and social security 3,789 1,710
37,286 27,629

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10 Ordinary shares of £ 1.00 each 10 10