IRIS Accounts Production v24.3.0.553 06917296 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh069172962023-03-31069172962024-03-31069172962023-04-012024-03-31069172962022-03-31069172962022-04-012023-03-31069172962023-03-3106917296ns15:EnglandWales2023-04-012024-03-3106917296ns14:PoundSterling2023-04-012024-03-3106917296ns10:Director12023-04-012024-03-3106917296ns10:Director22023-04-012024-03-3106917296ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3106917296ns10:SmallEntities2023-04-012024-03-3106917296ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3106917296ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3106917296ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106917296ns10:FullAccounts2023-04-012024-03-3106917296ns10:OrdinaryShareClass12023-04-012024-03-3106917296ns10:OrdinaryShareClass22023-04-012024-03-3106917296ns10:RegisteredOffice2023-04-012024-03-3106917296ns5:CurrentFinancialInstruments2024-03-3106917296ns5:CurrentFinancialInstruments2023-03-3106917296ns5:Non-currentFinancialInstruments2024-03-3106917296ns5:Non-currentFinancialInstruments2023-03-3106917296ns5:ShareCapital2024-03-3106917296ns5:ShareCapital2023-03-3106917296ns5:RetainedEarningsAccumulatedLosses2024-03-3106917296ns5:RetainedEarningsAccumulatedLosses2023-03-3106917296ns5:PlantMachinery2023-04-012024-03-3106917296ns5:FurnitureFittings2023-04-012024-03-3106917296ns5:MotorVehicles2023-04-012024-03-3106917296ns5:ComputerEquipment2023-04-012024-03-3106917296ns5:PlantMachinery2023-03-3106917296ns5:FurnitureFittings2023-03-3106917296ns5:MotorVehicles2023-03-3106917296ns5:ComputerEquipment2023-03-3106917296ns5:PlantMachinery2024-03-3106917296ns5:FurnitureFittings2024-03-3106917296ns5:MotorVehicles2024-03-3106917296ns5:ComputerEquipment2024-03-3106917296ns5:PlantMachinery2023-03-3106917296ns5:FurnitureFittings2023-03-3106917296ns5:MotorVehicles2023-03-3106917296ns5:ComputerEquipment2023-03-3106917296ns5:CostValuation2023-03-3106917296ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106917296ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106917296ns5:CurrentFinancialInstruments2023-04-012024-03-3106917296ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-03-3106917296ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3106917296ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3106917296ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3106917296ns5:Non-currentFinancialInstruments2023-04-012024-03-3106917296ns10:OrdinaryShareClass12024-03-3106917296ns10:OrdinaryShareClass22024-03-31
REGISTERED NUMBER: 06917296 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ELITE SWIMMING ACADEMY LIMITED

ELITE SWIMMING ACADEMY LIMITED (REGISTERED NUMBER: 06917296)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELITE SWIMMING ACADEMY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: E G Williams
R L Williams





REGISTERED OFFICE: Room 73, Wrest House
Wrest Park
Silsoe
Bedford
Bedfordshire
MK45 4HR





REGISTERED NUMBER: 06917296 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

ELITE SWIMMING ACADEMY LIMITED (REGISTERED NUMBER: 06917296)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 111,498 1,498
Investments 6 10,000 10,000
121,498 11,498

CURRENT ASSETS
Debtors 7 244,194 306,279
Cash at bank 35,903 24,337
280,097 330,616
CREDITORS
Amounts falling due within one year 8 191,954 167,624
NET CURRENT ASSETS 88,143 162,992
TOTAL ASSETS LESS CURRENT
LIABILITIES

209,641

174,490

CREDITORS
Amounts falling due after more than one year 9 112,220 66,667
NET ASSETS 97,421 107,823

CAPITAL AND RESERVES
Called up share capital 10 105 105
Retained earnings 97,316 107,718
SHAREHOLDERS' FUNDS 97,421 107,823

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ELITE SWIMMING ACADEMY LIMITED (REGISTERED NUMBER: 06917296)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:




E G Williams - Director



R L Williams - Director


ELITE SWIMMING ACADEMY LIMITED (REGISTERED NUMBER: 06917296)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Elite Swimming Academy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Coronavirus business interruption loan scheme
The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses affected by coronavirus (COVID-19). The scheme helps small and medium-sized businesses to access loans and other kinds of finance up to £5 million. The government guarantees 80% of the finance to the lender and pays interest and any fees for the first 12 months.

Investments
Investments in associates are recognised at cost less any provision for impairment.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 11 ) .

ELITE SWIMMING ACADEMY LIMITED (REGISTERED NUMBER: 06917296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 April 2023 - 3,584 - 13,208 16,792
Additions 833 - 127,914 - 128,747
At 31 March 2024 833 3,584 127,914 13,208 145,539
Depreciation
At 1 April 2023 - 3,461 - 11,833 15,294
Charge for year 139 123 17,637 848 18,747
At 31 March 2024 139 3,584 17,637 12,681 34,041
Net book value
At 31 March 2024 694 - 110,277 527 111,498
At 31 March 2023 - 123 - 1,375 1,498

6. FIXED ASSET INVESTMENTS
Other
investments
£   
Cost
At 1 April 2023
and 31 March 2024 10,000
Net book value
At 31 March 2024 10,000
At 31 March 2023 10,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 4,451
Other debtors 23,271 79,263
Directors' loan account 16,391 -
Prepayments and accrued income 204,532 222,565
244,194 306,279

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts 23,846 -
Trade creditors 42,047 15,215
Tax 8,116 49,888
Social security and other taxes 5,326 9,581
VAT 35,634 33,018
Other creditors 1,642 1,744
Accruals and deferred income 25,343 8,178
191,954 167,624

ELITE SWIMMING ACADEMY LIMITED (REGISTERED NUMBER: 06917296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Bank loans includes a Coronavirus Business Interruption Loan Scheme loan which is 80% guaranteed by the government as part of the COVID-19 support packages. No interest is chargeable on this loan in year one, being 2.70% per annum thereafter. The loan is secured by way of a debenture incorporating a fixed and floating charge over the assets and undertakings of the company in favour of the lenders.

Obligations held under hire purchase contracts are secured on the assets concerned.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 16,667 50,000
Bank loans - 2-5 years - 16,667
Hire purchase contracts 95,553 -
112,220 66,667

Bank loans includes a Coronavirus Business Interruption Loan Scheme loan which is 80% guaranteed by the government as part of the COVID-19 support packages. No interest is chargeable on this loan in year one, being 2.70% per annum thereafter. The loan is secured by way of a debenture incorporating a fixed and floating charge over the assets and undertakings of the company in favour of the lenders.

Obligations held under hire purchase contracts are secured on the assets concerned.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
1 Ordinary B £1 5 5
105 105

Ordinary B shares do not hold any voting rights or participate in any future distributions of capital.

11. RELATED PARTY DISCLOSURES

No one entity has control or ultimate control of the company.

Within other debtors is an amount of £16,391 (2023: £76,625) due from E G Williams and R L Williams, directors. During the year advances of £159,941 and repayments of £220,175 were made in respect of this loan. Interest of £Nil (2023: £1,502) has been charged on this balance during the year. The loan was repaid in full on 30th April 2024.