Arete Outdoor Centre - Limited company accounts 20.1

REGISTERED NUMBER: 08857047 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Arete Outdoor Centre

Page

Company Information

1

Report of the Directors

2

Statement of Income and Retained Earnings

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

G J Davies

R M Link

REGISTERED OFFICE:

Arete Centre

Llanrug

Caernarfon

LL55 4AP

REGISTERED NUMBER:

08857047 (England and Wales)

ACCOUNTANTS:

Benjamin Morris & Co Ltd

Highfield, Bull Hill

Lt Neston

NESTON

Cheshire

CH64 4DN

The directors present their report with the financial statements of the company for the year ended 31 March 2021.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2020 to the date of this report.

G J Davies

R M Link

POLITICAL DONATIONS AND EXPENDITURE

There were none (2020:Nil)

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

G J Davies - Director

24 December 2021

TURNOVER

196,857

959,336

Cost of sales

308,978

658,642

GROSS (DEFICIT)/SURPLUS

(112,121

)

300,694

Administrative expenses

120,759

103,809

(232,880

)

196,885

Other operating income

282,693

-

OPERATING SURPLUS and

SURPLUS BEFORE TAXATION

49,813

196,885

Tax on surplus

-

SURPLUS FOR THE FINANCIAL YEAR

49,813

196,885

Retained earnings at beginning of year

313,436

116,551

RETAINED EARNINGS AT END OF
YEAR

363,249

313,436

FIXED ASSETS

Tangible assets

5

314,192

182,635

CURRENT ASSETS

Stocks

800

1,200

Debtors

6

5,933

Cash at bank and in hand

305,480

252,517

312,213

259,650

CREDITORS

Amounts falling due within one year

7

263,156

128,849

NET CURRENT ASSETS

49,057

130,801

TOTAL ASSETS LESS CURRENT
LIABILITIES

363,249

313,436

RESERVES

Income and expenditure account

363,249

313,436

363,249

313,436

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 24 December 2021 and were signed on its behalf by:

G J Davies - Director

R M Link - Director

1.	STATUTORY INFORMATION

Arete Outdoor Centre 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.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

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.

Stocks

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2020 - 18 ) .

4.	OPERATING SURPLUS

The operating surplus is stated after charging:

31.3.21

31.3.20

£

Depreciation - owned assets

86,623

33,269

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

345,265

Additions

218,180

At 31 March 2021

563,445

DEPRECIATION

At 1 April 2020

162,630

Charge for year

86,623

At 31 March 2021

249,253

NET BOOK VALUE

At 31 March 2021

314,192

At 31 March 2020

182,635

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

Other debtors

5,933

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

Bank loans and overdrafts

215,000

-

Taxation and social security

2,015

-

Other creditors

46,141

128,849

263,156

128,849