Activity World Ltd. - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02512682 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

ACTIVITY WORLD LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M A Boyle

SECRETARY:

Mrs E A Boyle

REGISTERED OFFICE:

Padholme Road East

Peterborough

Cambridgeshire

PE1 5XH

REGISTERED NUMBER:

02512682 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

FIXED ASSETS

Tangible assets

4

1,267,996

1,273,901

Investments

5

262

262

1,268,258

1,274,163

CURRENT ASSETS

Stocks

99,420

113,577

Debtors

6

10,435

12,830

Cash at bank

115,091

62,176

224,946

188,583

CREDITORS

Amounts falling due within one year

7

60,237

33,345

NET CURRENT ASSETS

164,709

155,238

TOTAL ASSETS LESS CURRENT LIABILITIES

1,432,967

1,429,401

CREDITORS

Amounts falling due after more than one year

8

-

(10,443

)

PROVISIONS FOR LIABILITIES

9

(131,564

)

(132,386

)

NET ASSETS

1,301,403

1,286,572

CAPITAL AND RESERVES

Called up share capital

262

262

Revaluation reserve

10

624,484

624,484

Capital redemption reserve

738

738

Retained earnings

675,919

661,088

SHAREHOLDERS' FUNDS

1,301,403

1,286,572

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 profit or loss 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 director and authorised for issue on 1 May 2023 and were signed by:

Mr M A Boyle - Director

1.	STATUTORY INFORMATION

Activity World Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the fair value of consideration received or receivable after any trade discounts and prompt settlement discounts, excluding value added tax.

Tangible fixed assets

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

Freehold property

- Nil

Plant and machinery

- 10% on reducing balance

Fixtures and fittings

- 10% on reducing balance

The freehold property is being depreciated to its estimated residual value over its deemed useful economic life. The director believes the residual value to be at least the current carrying value in these accounts and therefore any depreciation would be negligible. The maintenance costs are charged to profit and loss account in the year incurred. The director reviews the estimated residual value at the end of each accounting period.

Plant and machinery, and fixtures and fittings are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on disposal of an asset is determined at the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at transaction price.

Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2021 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 October 2021

1,200,000

453,578

110,733

1,764,311

Additions

-

1,650

-

1,650

At 30 September 2022

1,200,000

455,228

110,733

1,765,961

DEPRECIATION

At 1 October 2021

-

397,104

93,306

490,410

Charge for year

-

5,812

1,743

7,555

At 30 September 2022

-

402,916

95,049

497,965

NET BOOK VALUE

At 30 September 2022

1,200,000

52,312

15,684

1,267,996

At 30 September 2021

1,200,000

56,474

17,427

1,273,901

Cost or valuation at 30 September 2022 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

Valuation in 2022

1,200,000

-

-

1,200,000

Cost

-

455,228

110,733

565,961

1,200,000

455,228

110,733

1,765,961

If freehold property had not been revalued it would have been included at the following historical cost:

2022

2021

£

£

Cost

394,969

394,969

Freehold property was valued on an open market basis on 30 September 2022 by the director.

Included in cost or valuation of land and building is freehold land of £480,000 (2021: £480,000) which is not depreciated.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2021

and 30 September 2022

262

NET BOOK VALUE

At 30 September 2022

262

At 30 September 2021

262

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

5,321

6,307

Other debtors

-

2,000

Director's loan account

64

-

Prepayments

5,050

4,523

10,435

12,830

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

-

7,732

Trade creditors

5,476

4,555

Corporation tax

13,567

8,688

Taxation and social security

664

617

VAT

16,145

3,919

Other creditors

1,093

4,680

Director's loan account

-

1,154

Accruals and deferred income

23,292

2,000

60,237

33,345

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

-

10,443

9.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

Accelerated capital allowances

131,564

132,386

Deferred

tax

£

Balance at 1 October 2021

132,386

Accelerated capital allowances

(822

)

Property revaluation

Balance at 30 September 2022

131,564

10.

RESERVES

Revaluation

reserve

£

At 1 October 2021

and 30 September 2022

624,484

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M A Boyle.