Activity World Ltd. - Accounts to registrar (filleted) - small 18.2
Activity World Ltd. - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
| FOR |
| ACTIVITY WORLD LTD. |
| ACTIVITY WORLD LTD. (REGISTERED NUMBER: 02512682) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 SEPTEMBER 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ACTIVITY WORLD LTD. |
| COMPANY INFORMATION |
| for the Year Ended 30 SEPTEMBER 2019 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 260 - 270 Butterfield |
| Great Marlings |
| Luton |
| Bedfordshire |
| LU2 8DL |
| ACTIVITY WORLD LTD. (REGISTERED NUMBER: 02512682) |
| BALANCE SHEET |
| 30 SEPTEMBER 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 8 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| ACTIVITY WORLD LTD. (REGISTERED NUMBER: 02512682) |
| BALANCE SHEET - continued |
| 30 SEPTEMBER 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| ACTIVITY WORLD LTD. (REGISTERED NUMBER: 02512682) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 SEPTEMBER 2019 |
| 1. | STATUTORY INFORMATION |
| Activity World Ltd. is a |
| 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 |
| 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. |
| ACTIVITY WORLD LTD. (REGISTERED NUMBER: 02512682) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 SEPTEMBER 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 October 2018 |
| Additions |
| At 30 September 2019 |
| DEPRECIATION |
| At 1 October 2018 |
| Charge for year |
| At 30 September 2019 |
| NET BOOK VALUE |
| At 30 September 2019 |
| At 30 September 2018 |
| Cost or valuation at 30 September 2019 is represented by: |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| Valuation in 2019 | 700,000 | - | - | 700,000 |
| Cost | - | 440,878 | 101,073 | 541,951 |
| 700,000 | 440,878 | 101,073 | 1,241,951 |
| ACTIVITY WORLD LTD. (REGISTERED NUMBER: 02512682) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 SEPTEMBER 2019 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 2019 | 2018 |
| £ | £ |
| Cost | 457,648 | 457,648 |
| Freehold property was valued on an open market basis in 2019 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 (2018: |
| £26,212) |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 October 2018 |
| and 30 September 2019 |
| NET BOOK VALUE |
| At 30 September 2019 |
| At 30 September 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Amount due from associated company | - | 125,500 |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Taxation and social security |
| VAT | 9,555 | 15,340 |
| Other creditors |
| Directors' loan accounts | 26,411 | 8,548 |
| Accrued expenses |
| ACTIVITY WORLD LTD. (REGISTERED NUMBER: 02512682) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 SEPTEMBER 2019 |
| 8. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 October 2018 |
| and 30 September 2019 |
| 9. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |
| 10. | EXCEPTIONAL ITEM |
| During the year, the intercompany loan balance between Apricot Penguin Limited of £145,500 was written off |
| through reserves in line with the Companies Act 2006 guidance on distributable profits. |