Activity World Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02512682 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2018

FOR

ACTIVITY WORLD LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M A Boyle

SECRETARY:

Mrs E A Boyle

REGISTERED OFFICE:

Padholme Road East

Peterborough

Cambridgeshire

PE1 5XH

REGISTERED NUMBER:

02512682 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

FIXED ASSETS

Tangible assets

4

759,501

748,322

Investments

5

262

262

759,763

748,584

CURRENT ASSETS

Stocks

95,658

102,165

Debtors

6

164,876

161,821

Cash at bank

100,888

89,878

361,422

353,864

CREDITORS

Amounts falling due within one year

7

56,133

52,239

NET CURRENT ASSETS

305,289

301,625

TOTAL ASSETS LESS CURRENT LIABILITIES

1,065,052

1,050,209

PROVISIONS FOR LIABILITIES

34,058

31,694

NET ASSETS

1,030,994

1,018,515

CAPITAL AND RESERVES

Called up share capital

262

262

Revaluation reserve

8

218,283

218,283

Capital redemption reserve

738

738

Retained earnings

811,711

799,232

SHAREHOLDERS' FUNDS

1,030,994

1,018,515

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 31 May 2019 and were signed by:

Mr M A Boyle - Director

1.	STATUTORY INFORMATION

Activity World 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the fair value of consideration received or receivable after any trade discounts and prompt

settlement discounts, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Freehold property

- Nil

Plant and machinery

- 10% on reducing balance

Fixtures and fittings

- 10% on reducing balance

The freehold property is being depreciated to its estimated residual value over its deemed useful economic life.

The director believes the residual value to be at least the current carrying value in these accounts and therefore

any depreciation would be negligible. The maintenance costs are charged to profit and loss account in the year

incurred. The director reviews the estimated residual value at the end of each accounting period.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and 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.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at transaction price.

Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured

subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2017 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 October 2017

700,000

407,709

101,073

1,208,782

Additions

-

17,790

-

17,790

At 30 September 2018

700,000

425,499

101,073

1,226,572

DEPRECIATION

At 1 October 2017

-

372,697

87,763

460,460

Charge for year

-

5,280

1,331

6,611

At 30 September 2018

-

377,977

89,094

467,071

NET BOOK VALUE

At 30 September 2018

700,000

47,522

11,979

759,501

At 30 September 2017

700,000

35,012

13,310

748,322

Cost or valuation at 30 September 2018 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

Valuation in 2014

500,000

-

-

500,000

Valuation in 2017

200,000

-

-

200,000

Cost

-

425,499

101,073

526,572

700,000

425,499

101,073

1,226,572

If freehold property had not been revalued it would have been included at the following historical cost:

2018

2017

£

£

Cost

457,648

457,648

Freehold property was valued on an open market basis in 2018 by the director.

Included in cost or valuation of land and building is freehold land of £280,000 (2018: £280,000) which is not

depreciated.

Deferred tax on the timing difference relating to the revaluation of freehold property amounts to £26,212 (2017:

£26,212)

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2017

and 30 September 2018

262

NET BOOK VALUE

At 30 September 2018

262

At 30 September 2017

262

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

25,362

27,450

Other debtors

2,500

2,500

Amount due from associated company

125,500

125,500

Prepayments

11,514

6,371

164,876

161,821

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

5,240

1,085

Corporation tax

15,287

479

Taxation and social security

-

163

VAT

15,340

24,462

Other creditors

9,768

12,740

Directors' loan accounts

8,548

9,597

Accrued expenses

1,950

3,713

56,133

52,239

8.

RESERVES

Revaluation

reserve

£

At 1 October 2017

and 30 September 2018

218,283

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M A Boyle.