Company Registration No. 10529247 (England and Wales)
Avid Climbing Limited
Unaudited accounts - Pages for the Registrar
for the year ended 31 March 2022
Avid Climbing Limited
Unaudited accounts - Pages for the Registrar
Contents
Avid Climbing Limited
Company Information
for the year ended 31 March 2022
Company Number
10529247 (England and Wales)
Registered Office
30 The Exchange
Mallard House Business Centre The Street
Little Bealings, Woodbridge
IP13 6LT
England
Accountants
IG Accounting Limited
257 Colchester Road
Ipswich
Suffolk
IP4 4SH
Avid Climbing Limited
Statement of financial position
as at 31 March 2022
Tangible assets
248,245
285,122
Cash at bank and in hand
89,611
18,595
Creditors: amounts falling due within one year
(96,091)
(76,936)
Net current assets/(liabilities)
27,258
(35,119)
Total assets less current liabilities
275,503
250,003
Creditors: amounts falling due after more than one year
(365,205)
(424,502)
Net liabilities
(89,702)
(174,499)
Called up share capital
100
100
Profit and loss account
(89,802)
(174,599)
Shareholders' funds
(89,702)
(174,499)
For the year ending 31 March 2022 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.
The financial statements were approved by the Board and authorised for issue on 5 December 2022 and were signed on its behalf by
Lindsay Barker
Director
Company Registration No. 10529247
Avid Climbing Limited
Notes to the Accounts
for the year ended 31 March 2022
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 year, 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 year ended 31 March 2022
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 April 2021
162,970
220,898
15,316
5,061
404,245
Additions
-
6,974
-
-
6,974
At 31 March 2022
162,970
227,872
15,316
5,061
411,219
At 1 April 2021
45,598
57,934
12,218
3,373
119,123
Charge for the year
17,629
24,452
561
1,209
43,851
At 31 March 2022
63,227
82,386
12,779
4,582
162,974
At 31 March 2022
99,743
145,486
2,537
479
248,245
At 31 March 2021
117,372
162,964
3,098
1,688
285,122
Amounts falling due within one year
Accrued income and prepayments
6,277
771
Other debtors
23,400
19,429
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
59,272
57,219
Trade creditors
12,818
18,454
Taxes and social security
242
-
Loans from directors
510
-
This includes deferred rent payable within 12 months of £7,425 (2021 - nil).
Avid Climbing Limited
Notes to the Accounts
for the year ended 31 March 2022
7
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
147,441
209,844
Other creditors
112,764
109,658
Loans from directors
105,000
105,000
Aggregate of amounts that fall due for payment after five years
36,629
37,450
This includes deferred rent payable of £26,764 (2021 - £34,189).
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 9 (2021: 9).
