Take a Challenge Limited
Take a Challenge Limited
Registered number: 07921574
Unaudited Financial Statements
For The Year Ended
31 March 2022
Take a Challenge Limited
Unaudited Financial Statements
For The Year Ended
31 March 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Take a Challenge Limited
Balance Sheet
As at
31 March 2022
Balance Sheet
Registered number:
07921574
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 directors acknowledge their 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.
| 2022 | 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital |
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| Share premium account |
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| Capital redemption reserve |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (23,435) | (21,585) | |||
Take a Challenge Limited
Balance Sheet (continued)
As at
31 March 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Take a Challenge Limited
Notes to the Financial Statements
For The Year Ended
31 March 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
The directors believe the company to be a going concern and will continue to give their support to the company over the next 12 months.
1.3.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Software. It is amortised to profit and loss account over its estimated economic life.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Computer equipment |
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1.5.
Financial Instruments
Debtors and creditors which are due within one year are recorded at transaction price, less any impairment.
1.6.
Taxation
The taxation expense represents the sum of the tax currently payable and deferred tax. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax
Deferred tax has not been recognised as it is not material to the financial statements. The directors will review this annually.
2.
Average Number of Employees
| 2022 | 2021 | ||
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| Average number of employees, including directors, during the year |
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Take a Challenge Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2022
3.
Intangible Assets
| Other | |||
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| £ | |||
| Cost | |||
| As at
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| Additions |
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| Net Book Value | |||
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4.
Tangible Assets
| Computer equipment | |
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| £ | |
| Cost | |
| As at
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| As at
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| Depreciation | |
| As at
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| Provided during the period |
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| Net Book Value | |
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5.
Debtors
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Other debtors | - | 4,605 | |
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Take a Challenge Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2022
6.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
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| Amounts owed to group undertakings | 142,131 | 89,622 | |
| Other creditors | 143 | 143 | |
| Taxation and social security | 4 | - | |
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7.
Related Party Transactions
Motivation Group Ltd
Parent company
Amounts due to the related party at the year end was £142,131 (2021 : £70,122).
Motivation Digital Ltd
Intercompany
Amounts due to the related party at the year end was £Nil (2021 : £19,500).
8.
General Information
Take a Challenge Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
07921574
. The registered office is 14 Cromford Road, Wandsworth, London, England, SW18 1NX.