International Krav Maga Federation - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08878627 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

FOR

INTERNATIONAL KRAV MAGA FEDERATION

(UNITED KINGDOM & IRELAND) LIMITED

LIMITED BY GUARANTEE

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr James W O'Loughlin

Mr Kevin Simpson

REGISTERED OFFICE:

3 Jesse Terrace

Reading

Berkshire

RG1 7RS

REGISTERED NUMBER:

08878627 (England and Wales)

ACCOUNTANTS:

Malcolm J. Greer FCCA, ATT

Chartered Certified Accountant

3 Jesse Terrace

Reading

Berkshire

RG1 7RS

FIXED ASSETS

Tangible assets

4

1,539

1,664

CURRENT ASSETS

Stocks

5

1,000

1,000

Debtors

6

7,181

9,214

Cash at bank and in hand

20,194

24,737

28,375

34,951

CREDITORS

Amounts falling due within one year

7

12,542

21,083

NET CURRENT ASSETS

15,833

13,868

TOTAL ASSETS LESS CURRENT LIABILITIES

17,372

15,532

PROVISIONS FOR LIABILITIES

8

292

316

NET ASSETS

17,080

15,216

RESERVES

Income and expenditure account

9

17,080

15,216

17,080

15,216

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 surplus or deficit 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 December 2021 and were signed on its behalf by:

Mr James W O'Loughlin - Director

1.	STATUTORY INFORMATION

International Krav Maga Federation (United Kingdom & Ireland) Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Training equipment

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Training

Computer

equipment

equipment

Totals

£

£

£

COST

At 1 March 2020

1,016

1,820

2,836

Additions

1,179

-

1,179

At 28 February 2021

2,195

1,820

4,015

DEPRECIATION

At 1 March 2020

545

627

1,172

Charge for year

698

606

1,304

At 28 February 2021

1,243

1,233

2,476

NET BOOK VALUE

At 28 February 2021

952

587

1,539

At 29 February 2020

471

1,193

1,664

5.

STOCKS

28.2.21

29.2.20

£

£

Closing stock

1,000

1,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Trade debtors

2,795

5,335

Other debtors

183

183

Prepayments and accrued income

4,203

3,696

7,181

9,214

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Trade creditors

765

13,364

Corporation tax

1,367

871

Civilian instructor course fees paid in advance

7,236

4,014

Accruals and deferred income

3,174

2,834

12,542

21,083

8.	PROVISIONS FOR LIABILITIES

28.2.21

29.2.20

£

£

Deferred tax

Accelerated capital allowances

292

316

Deferred

tax

£

Balance at 1 March 2020

316

Provided during year

(24

)

Balance at 28 February 2021

292

9.

RESERVES

Income

and

expenditure

account

£

At 1 March 2020

15,216

Surplus for the year

1,864

At 28 February 2021

17,080

10.	COMPANY LIMITED BY GUARANTEE

The Company is limited by guarantee. Every member of the Company undertakes to contribute such amount as may be required, not exceeding £1 to the Company's assets if it should be wound up whilst they are a member or within one year of them ceasing to be a member. This would be for the payment of any of the Company's debts and liabilities contracted before they ceased to be a member and any costs associated with the winding up of the Company and the subsequent adjustment of the rights of the contributory party.