Company Registration No. 10529247 (England and Wales)
Avid Climbing Limited
Unaudited accounts - Pages for the Registrar
for the period from 1 January 2018 to 31 March 2019
Avid Climbing Limited
Statement of financial position
as at 31 March 2019
Tangible assets
370,394
4,738
Cash at bank and in hand
1,099
3,120
Creditors: amounts falling due within one year
(89,912)
806
Net current (liabilities)/assets
(45,138)
22,005
Total assets less current liabilities
325,256
26,743
Creditors: amounts falling due after more than one year
(448,707)
(30,000)
Net liabilities
(123,451)
(3,257)
Called up share capital
100
100
Profit and loss account
(123,551)
(3,357)
Shareholders' funds
(123,451)
(3,257)
For the period ending 31 March 2019 the company was entitled to exemption from audit 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 23 December 2019.
Lindsay Barker
Director
Company Registration No. 10529247
Avid Climbing Limited
Notes to the Accounts
for the period from 1 January 2018 to 31 March 2019
Avid Climbing Limited is a private company, limited by shares, registered in England and Wales, registration number 10529247. The registered office is 30 The Exchange, Mallard House Business Centre The Street, Little Bealings, Woodbridge, IP13 6LT, England.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
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:
Land & buildings
Over duration of the building lease
Plant & machinery
Over duration of the building lease
Fixtures & fittings
20% Straight line
Computer equipment
33% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Avid Climbing Limited
Notes to the Accounts
for the period from 1 January 2018 to 31 March 2019
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2018
5,747
-
-
-
5,747
Additions
157,998
212,289
14,259
4,103
388,649
At 31 March 2019
163,745
212,289
14,259
4,103
394,396
At 1 January 2018
1,009
-
-
-
1,009
Charge for the period
9,331
11,475
1,709
478
22,993
At 31 March 2019
10,340
11,475
1,709
478
24,002
At 31 March 2019
153,405
200,814
12,550
3,625
370,394
At 31 December 2017
4,738
-
-
-
4,738
Other debtors
38,530
18,079
6
Creditors: amounts falling due within one year
2019
2017
Bank loans and overdrafts
33,065
-
Trade creditors
39,576
118
Taxes and social security
12,201
(1,174)
7
Creditors: amounts falling due after more than one year
2019
2017
Other creditors
210,000
30,000
8
Average number of employees
During the period the average number of employees was 8 (2017: 1).
