REGISTERED NUMBER: 06917296 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

ELITE SWIMMING ACADEMY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

E G Williams

R L Williams

REGISTERED OFFICE:

Room 73, Wrest House

Wrest Park

Silsoe

Bedford

Bedfordshire

MK45 4HR

REGISTERED NUMBER:

06917296 (England and Wales)

ACCOUNTANTS:

MDG Business Associates Limited

Room 73

Wrest House

Wrest Park

Silsoe

Bedfordshire

MK45 4HR

FIXED ASSETS

Tangible assets

5

84,811

111,498

Investments

6

30,000

10,000

114,811

121,498

CURRENT ASSETS

Debtors

7

185,606

244,194

Cash at bank

10,537

35,903

196,143

280,097

CREDITORS

Amounts falling due within one year

8

169,272

191,954

NET CURRENT ASSETS

26,871

88,143

TOTAL ASSETS LESS CURRENT LIABILITIES

141,682

209,641

CREDITORS

Amounts falling due after more than one year

9

80,111

112,220

NET ASSETS

61,571

97,421

CAPITAL AND RESERVES

Called up share capital

11

105

105

Retained earnings

61,466

97,316

SHAREHOLDERS' FUNDS

61,571

97,421

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 18 September 2025 and were signed on its behalf by:

E G Williams - Director

R L Williams - Director

1.	STATUTORY INFORMATION

Elite Swimming 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 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.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Turnover

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

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

-

33% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits 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.

Coronavirus business interruption loan scheme

The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses affected by coronavirus (COVID-19). The scheme helps small and medium-sized businesses to access loans and other kinds of finance up to £5 million. The government guarantees 80% of the finance to the lender and pays interest and any fees for the first 12 months.

Investments

Investments in associates are recognised at cost less any provision for impairment.

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 surplus or deficit over the relevant period. The capital element of the future payments is treated as a liability.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 14 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2024

833

3,584

127,914

13,208

145,539

Additions

-

659

-

1,000

1,659

At 31 March 2025

833

4,243

127,914

14,208

147,198

Depreciation

At 1 April 2024

139

3,584

17,637

12,681

34,041

Charge for year

277

33

27,569

467

28,346

At 31 March 2025

416

3,617

45,206

13,148

62,387

Net book value

At 31 March 2025

417

626

82,708

1,060

84,811

At 31 March 2024

694

-

110,277

527

111,498

6.	FIXED ASSET INVESTMENTS

Other

investments

£

Cost

At 1 April 2024

10,000

Additions

20,000

At 31 March 2025

30,000

Net book value

At 31 March 2025

30,000

At 31 March 2024

10,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

567

-

Other debtors

1,347

23,271

Directors' loan account

-

16,391

Prepayments and accrued income

183,692

204,532

185,606

244,194

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

16,667

50,000

Hire purchase contracts (see note 10)

23,846

23,846

Trade creditors

22,917

42,047

Tax

36,111

8,116

Social security and other taxes

6,945

5,326

VAT

38,037

35,634

Other creditors

1,662

1,642

Directors' loan account

1

-

Accruals and deferred income

23,086

25,343

169,272

191,954

Bank loans include a Coronavirus Business Interruption Loan Scheme loan which is 80% guaranteed by the government as part of the COVID-19 support packages. Interest on the bank loan is being charged at 2.70% per annum. The loan is secured by way of a debenture incorporating a fixed and floating charge over the assets and undertakings of the company in favour of the lenders.

On 2nd June 2025, a further loan was secured by way of a legal charge, incorporating a deed and fixed charge, over a specified commercial property, in favour of the lender.

Obligations held under hire purchase contracts are secured on the assets concerned.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

-

16,667

Hire purchase contracts (see note 10)

80,111

95,553

80,111

112,220

Bank loans include a Coronavirus Business Interruption Loan Scheme loan which is 80% guaranteed by the government as part of the COVID-19 support packages. Interest on the bank loan is being charged at 2.70% per annum. The loan is secured by way of a debenture incorporating a fixed and floating charge over the assets and undertakings of the company in favour of the lenders.

On 2nd June 2025, a further loan was secured by way of a legal charge, incorporating a deed and fixed charge, over a specified commercial property, in favour of the lender.

Obligations held under hire purchase contracts are secured on the assets concerned.

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

23,846

23,846

Between one and five years

80,111

95,553

103,957

119,399

Non-cancellable

operating leases

2025

2024

£

£

Within one year

2,250

-

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

1

Ordinary B

£1

5

5

105

105

Ordinary B shares do not hold any rights to vote or to participate in any future distributions of capital.

12.	RELATED PARTY DISCLOSURES