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REGISTERED NUMBER: 12594098 (England and Wales)






















Serious Climbing Distribution Ltd

Unaudited Financial Statements for the Period 1 June 2023 to 31 July 2024






Serious Climbing Distribution Ltd (Registered number: 12594098)






Contents of the Financial Statements
for the period 1 June 2023 to 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Serious Climbing Distribution Ltd

Company Information
for the period 1 June 2023 to 31 July 2024







DIRECTOR: M English





REGISTERED OFFICE: Rock City
Hawthorn Avenue
Hull
HU3 5GL





REGISTERED NUMBER: 12594098 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Serious Climbing Distribution Ltd (Registered number: 12594098)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 29,171 37,459
Investments 5 1,043 1,043
30,214 38,502

CURRENT ASSETS
Stocks 273,750 273,750
Debtors 6 319,193 58,852
Cash at bank and in hand 7,965 36,496
600,908 369,098
CREDITORS
Amounts falling due within one year 7 613,598 430,841
NET CURRENT LIABILITIES (12,690 ) (61,743 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,524

(23,241

)

CREDITORS
Amounts falling due after more than one
year

8

23,614

31,124
NET LIABILITIES (6,090 ) (54,365 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (6,190 ) (54,465 )
SHAREHOLDERS' FUNDS (6,090 ) (54,365 )

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

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

The director acknowledges his 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.

Serious Climbing Distribution Ltd (Registered number: 12594098)

Balance Sheet - continued
31 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2025 and were signed by:





M English - Director


Serious Climbing Distribution Ltd (Registered number: 12594098)

Notes to the Financial Statements
for the period 1 June 2023 to 31 July 2024

1. STATUTORY INFORMATION

Serious Climbing Distribution 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.

Preparation of consolidated financial statements
The financial statements contain information about Serious Climbing Distribution Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at fair value of the consideration received or receivable, net of discounts and value added tax. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually when the goods have been delivered to customers such that the risks and rewards of ownership have been transferred to them.

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. If at the balance sheet date completion of the contract is dependent on external factors, then the revenue is recognised only when the event occurs. In such cases direct costs incurred up to the balance sheet date plus an overhead rate are recognised as revenue to the extent that they are recoverable.

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 etc - 33% on cost and 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stock are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and an appropriate proportion of overhead expenses.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Serious Climbing Distribution Ltd (Registered number: 12594098)

Notes to the Financial Statements - continued
for the period 1 June 2023 to 31 July 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 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 the profit and loss account over the relevant
period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 1 ) .

Serious Climbing Distribution Ltd (Registered number: 12594098)

Notes to the Financial Statements - continued
for the period 1 June 2023 to 31 July 2024

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 51,080 - 51,080
Additions - 525 525
At 31 July 2024 51,080 525 51,605
DEPRECIATION
At 1 June 2023 13,621 - 13,621
Charge for period 8,740 73 8,813
At 31 July 2024 22,361 73 22,434
NET BOOK VALUE
At 31 July 2024 28,719 452 29,171
At 31 May 2023 37,459 - 37,459

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 July 2024 1,043
NET BOOK VALUE
At 31 July 2024 1,043
At 31 May 2023 1,043

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 116,354 44,288
Amounts owed by group undertakings 12,061 6,306
Other debtors 190,778 8,258
319,193 58,852

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 6,941 6,941
Trade creditors 354,174 260,023
Taxation and social security 53,250 23,971
Other creditors 199,233 139,906
613,598 430,841

Serious Climbing Distribution Ltd (Registered number: 12594098)

Notes to the Financial Statements - continued
for the period 1 June 2023 to 31 July 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 23,614 31,124

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 30,555 38,065

Hire purchase contracts are secured on the related asset.

10. CALLED UP SHARE CAPITAL

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

11. OTHER FINANCIAL COMMITMENTS

Within other creditors is an amount of £280 relating to pension contributions yet to be paid at the period end (2023: £NIL).