ACTION CHALLENGE LIMITED

ACTION CHALLENGE LIMITED

ACTION CHALLENGE LIMITED - Company Information

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ACTION CHALLENGE LIMITED

Company Registration Number:
03825838 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2018

Period of accounts

Start date: 01 January 2018

End date: 31 December 2018

ACTION CHALLENGE LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2018

Balance sheet
Notes

ACTION CHALLENGE LIMITED

Balance sheet

As at 31 December 2018


Notes
2018
2017


£
£
Fixed assets
Tangible assets: 2 86,995 115,993
Total fixed assets: 86,995 115,993
Current assets
Stocks: 18,350 24,472
Debtors:   157,061 124,624
Cash at bank and in hand: 1,375,671 1,352,060
Total current assets: 1,551,082 1,501,156
Creditors: amounts falling due within one year:   (652,244) (743,676)
Net current assets (liabilities): 898,838 757,480
Total assets less current liabilities: 985,833 873,473
Provision for liabilities: (18,671) (23,164)
Total net assets (liabilities): 967,162 850,309
Capital and reserves
Called up share capital: 40,000 40,000
Profit and loss account: 927,162 810,309
Shareholders funds: 967,162 850,309

The notes form part of these financial statements

ACTION CHALLENGE LIMITED

Balance sheet statements

For the year ending 31 December 2018 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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 & loss account.

This report was approved by the board of directors on 30 September 2019
and signed on behalf of the board by:

Name: Mr S Meigh
Status: Director

The notes form part of these financial statements

ACTION CHALLENGE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have 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.

Tangible fixed assets and depreciation policy

Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:Plant & machinery 25% reducing balance Motor vehicles 25% reducing balance

ACTION CHALLENGE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

2. Tangible Assets

Total
Cost £
At 01 January 2018 249,708
At 31 December 2018 249,708
Depreciation
At 01 January 2018 133,715
Charge for year 28,998
At 31 December 2018 162,713
Net book value
At 31 December 2018 86,995
At 31 December 2017 115,993

ACTION CHALLENGE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

3. Loans to directors

Name of director receiving advance or credit: Mr. S Meigh.
Description of the loan: Included in the creditors due within one year is an amount of £1,730 (2017: £1,730) due to the director of the company, Mr .S Meigh.
£
Balance at 01 January 2018 1,730
Balance at 31 December 2018 1,730