RUACH KARATE LTD - Period Ending 2019-01-31

Registration number: 05325857

RUACH KARATE LTD

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 January 2019

Bickerstaff & Co Limited
Chartered Accountants
Emerald House
20-22 Anchor Road
Aldridge
Walsall
West Midlands
WS9 8PH

RUACH KARATE LTD

Contents

Company Information	1
Director's Report	2
Accountants' Report	3
Abridged Profit and Loss Account	4
Statement of Comprehensive Income	5
Abridged Balance Sheet	6
Statement of Changes in Equity	7
Notes to the Abridged Financial Statements	8 to 10

RUACH KARATE LTD

Company Information

Director

Mr Gary Beggan

Registered office

54 Arnold Road Shirley Solihull West Midlands B90 3JP

Accountants

Bickerstaff & Co Limited Chartered Accountants Emerald House 20-22 Anchor Road Aldridge Walsall West Midlands WS9 8PH

Page 1

RUACH KARATE LTD

Director's Report for the Year Ended 31 January 2019

The director presents his report and the abridged financial statements for the year ended 31 January 2019.

Director of the company

The director who held office during the year was as follows:

Mr Gary Beggan

Principal activity

The principal activity of the company is Provision and management of sports facilities

Small companies provision statement

This report has 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.

Approved by the director on 20 August 2019 and signed on its behalf by:

.........................................
Mr Gary Beggan
Director

Page 2

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
RUACH KARATE LTD
for the Year Ended 31 January 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of RUACH KARATE LTD for the year ended 31 January 2019 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of RUACH KARATE LTD, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of RUACH KARATE LTD and state those matters that we have agreed to state to the Board of Directors of RUACH KARATE LTD, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RUACH KARATE LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that RUACH KARATE LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of RUACH KARATE LTD. You consider that RUACH KARATE LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of RUACH KARATE LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Bickerstaff & Co Limited
Chartered Accountants
Emerald House
20-22 Anchor Road
Aldridge
Walsall
West Midlands
WS9 8PH

20 August 2019

Page 3

RUACH KARATE LTD

Abridged Profit and Loss Account for the Year Ended 31 January 2019

	Note	2019 £	2018 £
Gross (loss)/profit		(5,115)	756
Distribution costs		(5,551)	(307)
Administrative expenses		(6,849)	(6,814)
Loss before tax	4	(17,515)	(6,365)
Loss for the financial year		(17,515)	(6,365)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

The notes on pages 8 to 10 form an integral part of these abridged financial statements.

Page 4

RUACH KARATE LTD

Statement of Comprehensive Income for the Year Ended 31 January 2019

	2019 £	2018 £
Loss for the year	(17,515)	(6,365)
Total comprehensive income for the year	(17,515)	(6,365)

The notes on pages 8 to 10 form an integral part of these abridged financial statements.

Page 5

RUACH KARATE LTD

(Registration number: 05325857)
Abridged Balance Sheet as at 31 January 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	5	980	1,225
Current assets
Cash at bank and in hand		34	3,828
Creditors: Amounts falling due within one year	6	(21,330)	(8,004)
Net current liabilities		(21,296)	(4,176)
Total assets less current liabilities		(20,316)	(2,951)
Accruals and deferred income		(900)	(750)
Net liabilities		(21,216)	(3,701)
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(21,316)	(3,801)
Total equity		(21,216)	(3,701)

For the financial year ending 31 January 2019 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 his 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 20 August 2019
 

.........................................

Mr Gary Beggan
Director

The notes on pages 8 to 10 form an integral part of these abridged financial statements.

Page 6

RUACH KARATE LTD

Statement of Changes in Equity for the Year Ended 31 January 2019

	Share capital £	Profit and loss account £	Total £
At 1 February 2018	100	(3,801)	(3,701)
Loss for the year	-	(17,515)	(17,515)
Total comprehensive income	-	(17,515)	(17,515)
At 31 January 2019	100	(21,316)	(21,216)

	Share capital £	Profit and loss account £	Total £
At 1 February 2017	100	2,564	2,664
Loss for the year	-	(6,365)	(6,365)
Total comprehensive income	-	(6,365)	(6,365)
At 31 January 2018	100	(3,801)	(3,701)

The notes on pages 8 to 10 form an integral part of these abridged financial statements.

Page 7

RUACH KARATE LTD

Notes to the Abridged Financial Statements for the Year Ended 31 January 2019

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
54 Arnold Road
Shirley
Solihull
West Midlands
B90 3JP

These financial statements were authorised for issue by the director on 20 August 2019.

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

Adjusting events after the financial period

The company ceased to trade at the ernd of the financial year.

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Page 8

RUACH KARATE LTD

Notes to the Abridged Financial Statements for the Year Ended 31 January 2019

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 & Machinery	20% on written down value

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 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.

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2018 - 0).

4	Loss before tax

Arrived at after charging/(crediting)

	2019 £	2018 £
Depreciation expense	245	307

Page 9

RUACH KARATE LTD

Notes to the Abridged Financial Statements for the Year Ended 31 January 2019

5	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 February 2018	4,984	4,984
At 31 January 2019	4,984	4,984
Depreciation
At 1 February 2018	3,759	3,759
Charge for the year	245	245
At 31 January 2019	4,004	4,004
Carrying amount
At 31 January 2019	980	980
At 31 January 2018	1,225	1,225

6	Creditors: amounts falling due within one year

7	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

Page 10