Fundays Club Ltd 08885516 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is Childcare and educational services Digita Accounts Production Advanced 6.30.9574.0 true true 08885516 2023-03-01 2024-02-29 08885516 2024-02-29 08885516 bus:OrdinaryShareClass1 2024-02-29 08885516 core:CurrentFinancialInstruments 2024-02-29 08885516 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 08885516 core:Non-currentFinancialInstruments 2024-02-29 08885516 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 08885516 core:Goodwill 2024-02-29 08885516 core:FurnitureFittingsToolsEquipment 2024-02-29 08885516 core:OtherPropertyPlantEquipment 2024-02-29 08885516 bus:SmallEntities 2023-03-01 2024-02-29 08885516 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 08885516 bus:FilletedAccounts 2023-03-01 2024-02-29 08885516 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08885516 bus:RegisteredOffice 2023-03-01 2024-02-29 08885516 bus:ChiefExecutive 2023-03-01 2024-02-29 08885516 bus:CompanySecretary1 2023-03-01 2024-02-29 08885516 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 08885516 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08885516 core:Goodwill 2023-03-01 2024-02-29 08885516 core:ComputerEquipment 2023-03-01 2024-02-29 08885516 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 08885516 core:OfficeEquipment 2023-03-01 2024-02-29 08885516 core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 08885516 core:PlantMachinery 2023-03-01 2024-02-29 08885516 countries:England 2023-03-01 2024-02-29 08885516 2023-02-28 08885516 core:Goodwill 2023-02-28 08885516 core:FurnitureFittingsToolsEquipment 2023-02-28 08885516 core:OtherPropertyPlantEquipment 2023-02-28 08885516 2022-03-01 2023-02-28 08885516 2023-02-28 08885516 bus:OrdinaryShareClass1 2023-02-28 08885516 core:CurrentFinancialInstruments 2023-02-28 08885516 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 08885516 core:Non-currentFinancialInstruments 2023-02-28 08885516 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 08885516 core:Goodwill 2023-02-28 08885516 core:FurnitureFittingsToolsEquipment 2023-02-28 08885516 core:OtherPropertyPlantEquipment 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08885516

Fundays Club Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Fundays Club Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Fundays Club Ltd

Company Information

Chief executive

Mr. Mark West

Company secretary

Ms Vicki Paimer

Registered office

34 Market Street
Bradford-On-Avon
Wiltshire
BA15 1LL

Accountants

BJP Finance Ltd
Chartered Accountants
34 Market Street
Bradford-On-Avon
Wiltshire
BA15 1LL

 

Fundays Club Ltd

(Registration number: 08885516)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

2,400

Tangible assets

5

1,212

1,908

 

1,212

4,308

Current assets

 

Debtors

6

5,798

3,223

Cash at bank and in hand

 

26,007

36,660

 

31,805

39,883

Creditors: Amounts falling due within one year

7

(4,098)

(11,421)

Net current assets

 

27,707

28,462

Total assets less current liabilities

 

28,919

32,770

Creditors: Amounts falling due after more than one year

7

-

(11,667)

Net assets

 

28,919

21,103

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

28,819

21,003

Shareholders' funds

 

28,919

21,103

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 November 2024 and signed on its behalf by:
 

 

Fundays Club Ltd

(Registration number: 08885516)
Balance Sheet as at 29 February 2024

.........................................
Mr. Mark West
Chief executive

 

Fundays Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
34 Market Street
Bradford-On-Avon
Wiltshire
BA15 1LL
England

These financial statements were authorised for issue by the Board on 22 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Fundays Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

10% straight line

Office Equipment

25% straight line

Computer Equipment

50% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Fundays Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Fundays Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2023 - 24).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2023

24,000

24,000

At 29 February 2024

24,000

24,000

Amortisation

At 1 March 2023

21,600

21,600

Amortisation charge

2,400

2,400

At 29 February 2024

24,000

24,000

Carrying amount

At 29 February 2024

-

-

At 28 February 2023

2,400

2,400

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

22,151

7,579

29,730

Additions

1,140

-

1,140

At 29 February 2024

23,291

7,579

30,870

Depreciation

At 1 March 2023

21,336

6,486

27,822

Charge for the year

1,078

758

1,836

At 29 February 2024

22,414

7,244

29,658

Carrying amount

At 29 February 2024

877

335

1,212

At 28 February 2023

815

1,093

1,908

 

Fundays Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

debtors

Current

2024
£

2023
£

Trade debtors

2,870

1,307

Prepayments

1,661

1,619

Other debtors

1,267

297

 

5,798

3,223

 

Fundays Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

5,242

Trade creditors

 

180

-

Taxation and social security

 

2,599

4,855

Accruals and deferred income

 

1,318

1,323

Other creditors

 

1

1

 

4,098

11,421

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

11,667

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

11,667

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

5,000

Other borrowings

-

242

-

5,242

 

Fundays Club Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Other borrowings

At the Balance Sheet date, the Director had received loans from the Company totalling £915 (2023: £242 loan to the Company). The previous loan was non-interest bearing and repayable on demand to the Director. The Director committed to keep this loan in place for as long as the company required it.

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

39,651

22,263

Contributions paid to money purchase schemes

5,412

3,139

45,063

25,402