2023-04-012024-03-312024-03-31false09382394OPTION D COACHING 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OPTION D COACHING LTD

Registered Number
09382394
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

OPTION D COACHING LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

MCGARVEY, Elizabeth Mary

Registered Address

20 George Lane
Read
Burnley
BB12 7RH

Registered Number

09382394 (England and Wales)
OPTION D COACHING LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets322,89433,653
22,89433,653
Current assets
Debtors17,03815,524
Cash at bank and on hand2,92013,983
19,95829,507
Creditors amounts falling due within one year4(9,157)(30,250)
Net current assets (liabilities)10,801(743)
Total assets less current liabilities33,69532,910
Provisions for liabilities5(4,350)(6,394)
Net assets29,34526,516
Capital and reserves
Called up share capital11
Profit and loss account29,34426,515
Shareholders' funds29,34526,516
The financial statements were approved and authorised for issue by the Director on 20 November 2024, and are signed on its behalf by:
MCGARVEY, Elizabeth Mary
Director
Registered Company No. 09382394
OPTION D COACHING LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Vehicles4
Office Equipment3
Trade and other debtors
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
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.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 April 2344,0009,48853,488
Additions-1,3101,310
At 31 March 2444,00010,79854,798
Depreciation and impairment
At 01 April 2311,0008,83519,835
Charge for year11,0001,06912,069
At 31 March 2422,0009,90431,904
Net book value
At 31 March 2422,00089422,894
At 31 March 2333,00065333,653
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security3,8821,322
Other creditors4,27628,153
Accrued liabilities and deferred income999775
Total9,15730,250
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.
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,3506,394
Total4,3506,394