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BEACON CLIMBING CENTRE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






BEACON CLIMBING CENTRE LTD (REGISTERED NUMBER: 04540825)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BEACON CLIMBING CENTRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mrs G K Lovick
D R Towse





REGISTERED OFFICE: The Old Barcud Studio
Cibyn Industrial Estate
Caernarfon
Gwynedd
LL55 2BD





REGISTERED NUMBER: 04540825 (England and Wales)





ACCOUNTANTS: Bowen Accountants Ltd
Chartered Accountants
Unit 1 Gate Farm
High Street
Sutton Benger
Chippenham
Wiltshire
SN15 4RE

BEACON CLIMBING CENTRE LTD (REGISTERED NUMBER: 04540825)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,315 17,894
Tangible assets 5 309,208 366,885
323,523 384,779

CURRENT ASSETS
Stocks 6 9,083 11,285
Debtors 7 7,948 15,033
Prepayments and accrued income 19,318 11,890
Cash at bank and in hand 63,581 43,539
99,930 81,747
CREDITORS
Amounts falling due within one year 8 93,320 84,595
NET CURRENT ASSETS/(LIABILITIES) 6,610 (2,848 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

330,133

381,931

CREDITORS
Amounts falling due after more than one
year

9

(18,040

)

(34,929

)

PROVISIONS FOR LIABILITIES 10 (66,277 ) (69,261 )

ACCRUALS AND DEFERRED INCOME (14,624 ) (47,910 )
NET ASSETS 231,192 229,831

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 231,188 229,827
SHAREHOLDERS' FUNDS 231,192 229,831

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

BEACON CLIMBING CENTRE LTD (REGISTERED NUMBER: 04540825)

BALANCE SHEET - continued
30 SEPTEMBER 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 12 March 2025 and were signed on its behalf by:





Mrs G K Lovick - Director


BEACON CLIMBING CENTRE LTD (REGISTERED NUMBER: 04540825)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Beacon Climbing Centre 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.

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.

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

Turnover represents the value of services provided and is recorded at the value of consideration due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the lease
Leasehold improvements - in accordance with the lease
Plant and machinery - 25% on reducing balance
Office equipment - 15% on reducing balance

The climbing walls have been depreciated over 25 years on a straight line basis from the date of acquisition.

Website development is to be amortised over 10 years on a straight line basis from October 2022.

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

Cost is determined on a first in first out basis. Net realisable value represents the estimated selling price less costs to complete and sell.

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.

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.

BEACON CLIMBING CENTRE LTD (REGISTERED NUMBER: 04540825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Government grants
Government grants of £100,000 were received in July 2012 and are being released to the profit and loss account over a period of 15 years on a straight line basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023
and 30 September 2024 17,894
AMORTISATION
Charge for year 3,579
At 30 September 2024 3,579
NET BOOK VALUE
At 30 September 2024 14,315
At 30 September 2023 17,894

5. TANGIBLE FIXED ASSETS
Short Leasehold Plant and Office
leasehold improvements machinery equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 73,000 91,464 594,111 51,444 810,019
Additions - - 4,962 2,608 7,570
At 30 September 2024 73,000 91,464 599,073 54,052 817,589
DEPRECIATION
At 1 October 2023 46,056 65,147 307,147 24,784 443,134
Charge for year 2,920 7,581 50,357 4,389 65,247
At 30 September 2024 48,976 72,728 357,504 29,173 508,381
NET BOOK VALUE
At 30 September 2024 24,024 18,736 241,569 24,879 309,208
At 30 September 2023 26,944 26,317 286,964 26,660 366,885

BEACON CLIMBING CENTRE LTD (REGISTERED NUMBER: 04540825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. STOCKS
2024 2023
£    £   
Stocks 9,083 11,285

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,542 9,292
Other debtors 1,406 1,151
Tax - 4,590
7,948 15,033

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,225 9,973
Trade creditors 15,968 15,333
Tax 15,674 -
Social security and other taxes 4,912 4,540
VAT 33,612 34,367
Other creditors 3,859 4,456
Deferred grant income 6,667 6,667
MBNA Credit Card 2,403 1,759
Directors' current accounts - 7,500
93,320 84,595

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 11,373 10,225
Bank loans - 2-5 years - 11,371
Deferred grant income 6,667 13,333
18,040 34,929

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 66,277 69,261

Deferred
tax
£   
Balance at 1 October 2023 69,261
Credit to Income Statement during year (2,984 )
Accelerated capital allowances
Balance at 30 September 2024 66,277

BEACON CLIMBING CENTRE LTD (REGISTERED NUMBER: 04540825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £153,491 (2023 - £216,185).

12. RELATED PARTY DISCLOSURES

Amounts totalling £NIL (2023 - £ 7,500) were owed to the directors at the year end date.