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REGISTERED NUMBER: 08818182 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31st August 2024

for

GUILDFORD TENNIS ACADEMY LIMITED

GUILDFORD TENNIS ACADEMY LIMITED (REGISTERED NUMBER: 08818182)






Contents of the Financial Statements
for the year ended 31st August 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Accountants' Report 7

GUILDFORD TENNIS ACADEMY LIMITED

Company Information
for the year ended 31st August 2024







DIRECTORS: Mrs S Crucefix
A J Crucefix
C J Tucker





SECRETARY: Mrs S Crucefix





REGISTERED OFFICE: 16 Church Road
Milford
Godalming
Surrey
GU8 5JD





REGISTERED NUMBER: 08818182 (England and Wales)





ACCOUNTANTS: TC Group
Office: Croydon - TC SWP
3rd Floor, Suffolk House
George Street
Croydon
CR0 0YN

GUILDFORD TENNIS ACADEMY LIMITED (REGISTERED NUMBER: 08818182)

Statement of Financial Position
31st August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,766 27,673
Property, plant and equipment 5 218,500 229,363
238,266 257,036

CURRENT ASSETS
Inventories 500 500
Debtors 6 2,213 2,015
Cash at bank and in hand 37,501 36,750
40,214 39,265
CREDITORS
Amounts falling due within one year 7 225,000 267,948
NET CURRENT LIABILITIES (184,786 ) (228,683 )
TOTAL ASSETS LESS CURRENT LIABILITIES 53,480 28,353

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 134,901 134,901
Retained earnings (81,521 ) (106,648 )
53,480 28,353

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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.

GUILDFORD TENNIS ACADEMY LIMITED (REGISTERED NUMBER: 08818182)

Statement of Financial Position - continued
31st August 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st March 2025 and were signed on its behalf by:





A J Crucefix - Director


GUILDFORD TENNIS ACADEMY LIMITED (REGISTERED NUMBER: 08818182)

Notes to the Financial Statements
for the year ended 31st August 2024

1. STATUTORY INFORMATION

Guildford Tennis 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 financial statements have been prepared in sterling, the functional currency of the company, and monetary amounts in these financial statements have been rounded to the nearest £.

2. ACCOUNTING POLICIES

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

Going concern
The accounts are prepared on the going concern basis, on the basis that the directors will continue to provide financial support to the company.

The directors remain confident that sufficient funding is in place and that the company has adequate resources to enable the company to continue as a going concern for the foreseeable future.

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

Goodwill
The goodwill represents the excess paid over of the net fair value of the identifiable assets and liabilities when the company acquired the tennis centre in 2017. The goodwill is initially recognised as an asset at cost and, subject to regular impairment reviews, is amortised over its useful life, which shall not exceed ten years.

Goodwill is amortised on a straight line basis over 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Over length of lease
Tennis equipment - 10% on cost
Office equipment - 25% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.


GUILDFORD TENNIS ACADEMY LIMITED (REGISTERED NUMBER: 08818182)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st September 2023
and 31st August 2024 79,067
AMORTISATION
At 1st September 2023 51,394
Charge for year 7,907
At 31st August 2024 59,301
NET BOOK VALUE
At 31st August 2024 19,766
At 31st August 2023 27,673

5. PROPERTY, PLANT AND EQUIPMENT
Long Tennis Office
leasehold equipment equipment Totals
£    £    £    £   
COST
At 1st September 2023
and 31st August 2024 284,269 3,124 7,545 294,938
DEPRECIATION
At 1st September 2023 60,450 2,639 2,486 65,575
Charge for year 9,293 148 1,422 10,863
At 31st August 2024 69,743 2,787 3,908 76,438
NET BOOK VALUE
At 31st August 2024 214,526 337 3,637 218,500
At 31st August 2023 223,819 485 5,059 229,363

GUILDFORD TENNIS ACADEMY LIMITED (REGISTERED NUMBER: 08818182)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Prepayments and accrued income 2,213 2,015

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other loans - 833
Trade creditors (10 ) 1,798
Social security and other taxes 1,639 2,143
VAT 11,430 11,283
Directors' current accounts 210,591 250,591
Accruals and deferred income 1,350 1,300
225,000 267,948

8. RELATED PARTY DISCLOSURES

Two of the directors, Mr and Mrs Crucefix, have provided financial support to the company. At the year end, the balance due to the directors amounted to £210,000 (2023 - £250,000). This loan is interest free and is repayable on demand.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Guildford Tennis Academy Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31st August 2024.

We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".

You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.






TC Group
Office: Croydon - TC SWP
3rd Floor, Suffolk House
George Street
Croydon
CR0 0YN


1st March 2025