SCT Climbing Limited 31/03/2022 iXBRL
SCT Climbing Limited 31/03/2022 iXBRL
Company registration number:
11082832
Audited financial statements
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Statement of financial position
31 March 2022
2022 | 2021 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 |
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- | ||||||
Tangible assets | 6 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Stocks |
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- | |||||||
Debtors | 7 |
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Cash at bank and in hand |
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_______ | _______ | ||||||||
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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_______ | _______ | ||||||||
Net current assets |
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_______ | _______ | ||||||||
Total assets less current liabilities |
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_______ | _______ | ||||||||
Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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_______ | _______ | ||||||||
Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
22 December 2022
, and are signed on behalf of the board by:
Director
Company registration number:
11082832
Statement of changes in equity
Year ended 31 March 2022
Called up share capital | Profit and loss account | Total | |||
£ | £ | £ | |||
At 1 April 2020 |
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- |
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Loss for the year |
(
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(
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_______ | _______ | _______ | |||
Total comprehensive income for the year | - |
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Issue of shares |
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_______ | _______ | _______ | |||
Total investments by and distributions to owners |
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- |
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_______ | _______ | _______ | |||
At 31 March 2021 and 1 April 2021 |
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(
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Loss for the year |
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_______ | _______ | _______ | |||
Total comprehensive income for the year | - |
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Issue of shares |
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_______ | _______ | _______ | |||
Total investments by and distributions to owners |
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- |
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_______ | _______ | _______ | |||
At 31 March 2022 |
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_______ | _______ | _______ | |||
Notes to the financial statements
Year ended 31 March 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sterling House, 501 Middleton Road, Chadderton, Oldham, OL9 9LY.
The Company is within a public benefit group.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Disclosure exemptions
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods/provision of services); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Intangible assets
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Franchise | - |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and Buildings | - |
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Plant and machinery | - |
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Fittings fixtures and equipment | - |
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Climbing Equipment | - |
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straight line | |
Impairment
Stocks
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Judgements and key estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actaul results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future projects where the revision affects both current and future periods.
Going Concern
The directors have, at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company is reliant of the support of the group. The trustees of the parent have confirmed that they will not request repayment of any group loans for the next twelve months, unless other sources of funding becomes available. The directors consider that the company remains a going concern and have prepared the financial statements on this basis. The financial statements do not include any adjustments that would result in the company being unable to continue as a going concern.
Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Employee benefits
The costs of short term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Government grants
Government grants are recognised as the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
30
(2021:
6
).
5.
Intangible assets
Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 1 April 2021 | - | - | |
Additions | 15,000 | 15,000 | |
_______ | _______ | ||
At 31 March 2022 |
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_______ | _______ | ||
Amortisation | |||
At 1 April 2021 | - | - | |
Charge for the year |
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_______ | _______ | ||
At 31 March 2022 |
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_______ | _______ | ||
Carrying amount | |||
At 31 March 2022 |
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_______ | _______ | ||
At 31 March 2021 | - | - | |
_______ | _______ | ||
6.
Tangible assets
Freehold property | Plant and machinery | Fixtures, fittings and equipment | Climbing Equipment | Total | ||
£ | £ | £ | £ | £ | ||
Cost | ||||||
At 1 April 2021 |
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- |
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Additions |
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_______ | _______ | _______ | _______ | _______ | ||
At 31 March 2022 |
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_______ | _______ | _______ | _______ | _______ | ||
Depreciation | ||||||
At 1 April 2021 | - | - |
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- |
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Charge for the year | - |
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_______ | _______ | _______ | _______ | _______ | ||
At 31 March 2022 | - |
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_______ | _______ | _______ | _______ | _______ | ||
Carrying amount | ||||||
At 31 March 2022 |
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_______ | _______ | _______ | _______ | _______ | ||
At 31 March 2021 |
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- |
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_______ | _______ | _______ | _______ | _______ | ||
7.
Debtors
2022 | 2021 | |||
£ | £ | |||
Trade debtors |
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- | ||
Amounts owed by group undertakings and undertakings in which the company has a participating interest | - |
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Other debtors |
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_______ | _______ | |||
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_______ | _______ | |||
8.
Creditors: amounts falling due within one year
2022 | 2021 | |||
£ | £ | |||
Trade creditors |
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- | ||
Social security and other taxes |
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Other creditors |
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_______ | _______ | |||
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_______ | _______ | |||
9.
Summary audit opinion
The senior statutory auditor was
David Kay
for and on behalf of
Barlow Andrews LLP
10.
Related party transactions
During the year the company entered into the following transactions with related parties:
2022 | 2021 | ||
£ | £ | ||
Services used | |||
Common Directorships |
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- | |
Merchandise suppliers | |||
Common Directorships | 899 | - | |
_______ | _______ | ||
11.
Controlling Party
The ultimate parent is The Stoller Charitable Trust, a charity registered in England and Wales. The Stoller Charitable Trust prepares consolidated accounts and copies can be obtained from the registered office.