MICHAELA PAY COACHING LTD


Director	Michaela Pay


Registered Address	Wall Field Bowden Lane
	Stratton
	Bude
	EX23 9BG


Registered Number	14065225 (England and Wales)

Balance Sheet as at
30 April 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		7,000		8,000
Tangible assets	4		2,919		7,548
			9,919		15,548
Current assets
Debtors		-		3,289
Cash at bank and on hand		14		6
		14		3,295
Creditors amounts falling due within one year	5	(18,572)		(15,204)
Net current assets (liabilities)			(18,558)		(11,909)
Total assets less current liabilities			(8,639)		3,639
Net assets			(8,639)		3,639
Capital and reserves
Called up share capital			1		1
Profit and loss account			(8,640)		3,638
Shareholders' funds			(8,639)		3,639

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 23 September 2025, and are signed on its behalf by:

Michaela Pay
Director
Registered Company No. 14065225

MICHAELA PAY COACHING LTD

Notes to the Financial Statements
for the year ended 30 April 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Goodwill is recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a straight line basis over its expected life, which is 10 years.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	20
	Vehicles	20

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		1

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 May 24	10,000	10,000
At 30 April 25	10,000	10,000
Amortisation and impairment
At 01 May 24	2,000	2,000
Charge for year	1,000	1,000
At 30 April 25	3,000	3,000
Net book value
At 30 April 25	7,000	7,000
At 30 April 24	8,000	8,000

4.	Tangible fixed assets

	Plant & machinery	Vehicles	Total
	£	£	£
Cost or valuation
At 01 May 24	1,585	10,000	11,585
Additions	-	2,500	2,500
Disposals	-	(10,000)	(10,000)
At 30 April 25	1,585	2,500	4,085
Depreciation and impairment
At 01 May 24	437	3,600	4,037
Charge for year	229	500	729
On disposals	-	(3,600)	(3,600)
At 30 April 25	666	500	1,166
Net book value
At 30 April 25	919	2,000	2,919
At 30 April 24	1,148	6,400	7,548

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Taxation and social security	588	142
Other creditors	17,984	15,062
Total	18,572	15,204


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.