Splash Start Limited SC429515 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is children's swimming lessons Digita Accounts Production Advanced 6.30.9574.0 true true SC429515 2023-09-01 2024-08-31 SC429515 2024-08-31 SC429515 core:CurrentFinancialInstruments 2024-08-31 SC429515 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 SC429515 core:Non-currentFinancialInstruments 2024-08-31 SC429515 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 SC429515 core:MotorVehicles 2024-08-31 SC429515 core:PlantMachinery 2024-08-31 SC429515 bus:SmallEntities 2023-09-01 2024-08-31 SC429515 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC429515 bus:FilletedAccounts 2023-09-01 2024-08-31 SC429515 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC429515 bus:RegisteredOffice 2023-09-01 2024-08-31 SC429515 bus:Director1 2023-09-01 2024-08-31 SC429515 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC429515 core:MotorVehicles 2023-09-01 2024-08-31 SC429515 core:PlantMachinery 2023-09-01 2024-08-31 SC429515 countries:Scotland 2023-09-01 2024-08-31 SC429515 2023-08-31 SC429515 core:MotorVehicles 2023-08-31 SC429515 core:PlantMachinery 2023-08-31 SC429515 2022-09-01 2023-08-31 SC429515 2023-08-31 SC429515 core:CurrentFinancialInstruments 2023-08-31 SC429515 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 SC429515 core:Non-currentFinancialInstruments 2023-08-31 SC429515 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 SC429515 core:MotorVehicles 2023-08-31 SC429515 core:PlantMachinery 2023-08-31 iso4217:GBP xbrli:pure

Registration number: SC429515

Splash Start Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Splash Start Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Splash Start Limited

Company Information

Director

Mrs Karen Kay

Registered office

18 Goose Green Crescent
Musselburgh
East Lothian
EH21 7SJ

Accountants

Stewart & Cumming Ltd
31-33 Bridge Street
Musselburgh
Midlothian
EH21 6AA

 

Splash Start Limited

(Registration number: SC429515)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

24,280

29,874

Current assets

 

Debtors

5

13,042

-

Cash at bank and in hand

 

30,704

49,956

 

43,746

49,956

Creditors: Amounts falling due within one year

6

(31,274)

(19,209)

Net current assets

 

12,472

30,747

Total assets less current liabilities

 

36,752

60,621

Creditors: Amounts falling due after more than one year

6

(15,166)

(24,111)

Net assets

 

21,586

36,510

Capital and reserves

 

Called up share capital

1

1

Retained earnings

21,585

36,509

Shareholders' funds

 

21,586

36,510

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 June 2025
 

.........................................
Mrs Karen Kay
Director

 

Splash Start Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
18 Goose Green Crescent
Musselburgh
East Lothian
EH21 7SJ

The principal place of business is:
18 Goose Green Crescent
Musselburgh
East Lothian
EH21 7SJ

These financial statements were authorised for issue by the director on 25 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Splash Start Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

Reduced balance 25%

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Splash Start Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 1).

 

Splash Start Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

2,565

37,076

39,641

Additions

524

-

524

At 31 August 2024

3,089

37,076

40,165

Depreciation

At 1 September 2023

2,352

7,415

9,767

Charge for the year

186

5,932

6,118

At 31 August 2024

2,538

13,347

15,885

Carrying amount

At 31 August 2024

551

23,729

24,280

At 31 August 2023

213

29,661

29,874

5

Debtors

Current

2024
£

2023
£

Other debtors

13,042

-

 

13,042

-

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

30,037

14,159

Accruals and deferred income

1,237

1,246

Other creditors

-

3,804

31,274

19,209

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

15,166

24,111

 

Splash Start Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

15,166

24,111

8

Dividends

2024

2023

£

£

Final dividend of £81,000.00 (2023 - £37,000.00) per ordinary share

81,000

37,000

 

 

9

Related party transactions

 

Splash Start Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,096

9,096