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REGISTERED NUMBER: 09922588 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LIMITLESS ACADEMY OF PERFORMING ARTS LTD

LIMITLESS ACADEMY OF PERFORMING ARTS LTD (REGISTERED NUMBER: 09922588)






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


LIMITLESS ACADEMY OF PERFORMING ARTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P F Heppelthwaite
P J Watson





REGISTERED OFFICE: 56 Ferrier Road
Stevenage
Hertfordshire
SG2 0NU





REGISTERED NUMBER: 09922588 (England and Wales)





ACCOUNTANTS: Barrow LLP
Rae House
Dane Street
Bishops Stortford
Herts
CM23 3BT

LIMITLESS ACADEMY OF PERFORMING ARTS LTD (REGISTERED NUMBER: 09922588)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 26,887 34,157

CURRENT ASSETS
Debtors 6 - 100
Cash at bank and in hand 3,322 10,885
3,322 10,985
CREDITORS
Amounts falling due within one year 7 (57,748 ) (66,110 )
NET CURRENT LIABILITIES (54,426 ) (55,125 )
TOTAL ASSETS LESS CURRENT LIABILITIES (27,539 ) (20,968 )

CREDITORS
Amounts falling due after more than one year 8 (16,889 ) (21,124 )
NET LIABILITIES (44,428 ) (42,092 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (44,528 ) (42,192 )
SHAREHOLDERS' FUNDS (44,428 ) (42,092 )

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.

LIMITLESS ACADEMY OF PERFORMING ARTS LTD (REGISTERED NUMBER: 09922588)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2025 and were signed on its behalf by:





P F Heppelthwaite - Director


LIMITLESS ACADEMY OF PERFORMING ARTS LTD (REGISTERED NUMBER: 09922588)

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

1. STATUTORY INFORMATION

Limitless Academy of Performing Arts Ltd 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.

The financial statements have been prepared on a going concern basis which assumes the continued support of the company's creditors. If this assumption proves invalid the preparation of these financial statements on a going concern basis may prove to have been inappropriate, in which case adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. Fixed assets would then be reclassified as current assets.

The director believes that it is appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover represents tuition fees and ticket sales excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.


LIMITLESS ACADEMY OF PERFORMING ARTS LTD (REGISTERED NUMBER: 09922588)

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

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Going concern
The company meets its working capital requirements through informal borrowings from the director. The director considers that these facilities will continue to be available to the company. Therefore the accounts have been prepared on a going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 36,780 10,025 9,600 56,405
DEPRECIATION
At 1 April 2023 14,712 4,282 3,254 22,248
Charge for year 3,678 2,005 1,587 7,270
At 31 March 2024 18,390 6,287 4,841 29,518
NET BOOK VALUE
At 31 March 2024 18,390 3,738 4,759 26,887
At 31 March 2023 22,068 5,743 6,346 34,157

LIMITLESS ACADEMY OF PERFORMING ARTS LTD (REGISTERED NUMBER: 09922588)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Directors' current accounts - 100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 4,235 4,235
Trade creditors 5,916 2,779
Social security and other taxes - 581
Other creditors 35,160 53,618
Directors' current accounts 8,597 115
Accrued expenses 3,840 4,782
57,748 66,110

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 4,235 4,235
Bank loans - 2-5 years 12,654 16,889
16,889 21,124

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
P F Heppelthwaite
Balance outstanding at start of year (115 ) 6,650
Amounts advanced 2,830 10,063
Amounts repaid (11,312 ) (16,828 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8,597 ) (115 )

LIMITLESS ACADEMY OF PERFORMING ARTS LTD (REGISTERED NUMBER: 09922588)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

P J Watson
Balance outstanding at start of year 100 4,933
Amounts advanced - 900
Amounts repaid (100 ) (5,733 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 100