ACCOUNTS - Final Accounts

NAUTILUS SWIM CAMPS LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31172022-09-01falseNo description of principal activity18falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06351551 2022-09-01 2023-08-31 06351551 2021-09-01 2022-08-31 06351551 2023-08-31 06351551 2022-08-31 06351551 c:Director2 2022-09-01 2023-08-31 06351551 d:OfficeEquipment 2022-09-01 2023-08-31 06351551 d:OfficeEquipment 2023-08-31 06351551 d:OfficeEquipment 2022-08-31 06351551 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06351551 d:ComputerEquipment 2022-09-01 2023-08-31 06351551 d:ComputerEquipment 2023-08-31 06351551 d:ComputerEquipment 2022-08-31 06351551 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06351551 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06351551 d:CurrentFinancialInstruments 2023-08-31 06351551 d:CurrentFinancialInstruments 2022-08-31 06351551 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 06351551 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 06351551 d:ShareCapital 2023-08-31 06351551 d:ShareCapital 2022-08-31 06351551 d:RetainedEarningsAccumulatedLosses 2023-08-31 06351551 d:RetainedEarningsAccumulatedLosses 2022-08-31 06351551 c:OrdinaryShareClass1 2022-09-01 2023-08-31 06351551 c:OrdinaryShareClass1 2023-08-31 06351551 c:OrdinaryShareClass1 2022-08-31 06351551 c:FRS102 2022-09-01 2023-08-31 06351551 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 06351551 c:FullAccounts 2022-09-01 2023-08-31 06351551 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 06351551 2 2022-09-01 2023-08-31 06351551 e:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06351551

NAUTILUS SWIM CAMPS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023


NAUTILUS SWIM CAMPS LIMITED REGISTERED NUMBER:06351551

BALANCE SHEET

AS AT 31 AUGUST 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	4		2,583		2,319
			2,583		2,319
Current assets
Debtors: amounts falling due within one year	5	59,833		54,197
Cash at bank and in hand		953,959		837,687
		1,013,792		891,884
Creditors: amounts falling due within one year	6	(877,213)		(866,027)
Net current assets			136,579		25,857

Net assets			139,162		28,176

Capital and reserves
Called up share capital	7	2	2
Profit and loss account		139,160	28,174
		139,162	28,176

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NAUTILUS SWIM CAMPS LIMITED REGISTERED NUMBER:06351551

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

W Rowley

Director

Date: 5 March 2024

The notes on pages 3 to 7 form part of these financial statements.

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NAUTILUS SWIM CAMPS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

1.	General information

Nautilus Swim Camps Limited is a limited liability company incorporated in England. The registered office is Harwood House, 43 Harwood Road, London, SW6 4QP. The principal activity of the company continued to be that of swim camps.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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NAUTILUS SWIM CAMPS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Office equipment	-	20% straight line
				Computer equipment	-	20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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NAUTILUS SWIM CAMPS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including directors, during the year was 17 (2022 - 18).

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NAUTILUS SWIM CAMPS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

4.	Tangible fixed assets

	Office equipment	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 September 2022	1,942	4,283	6,225
Additions	-	1,041	1,041
Disposals	-	(733)	(733)
At 31 August 2023	1,942	4,591	6,533
Depreciation
At 1 September 2022	1,942	1,964	3,906
Charge for the year on owned assets	-	777	777
Disposals	-	(733)	(733)
At 31 August 2023	1,942	2,008	3,950
Net book value
At 31 August 2023	-	2,583	2,583
At 31 August 2022	-	2,319	2,319

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NAUTILUS SWIM CAMPS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

Debtors

					2023	2022
					£	£


Trade debtors	27,226	21,155
Other debtors	10,224	1,662
Prepayments and accrued income	22,383	31,380
	59,833	54,197

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	51,265	81,671
Corporation tax	60,664	33,239
Other taxation and social security	107,643	109,891
Other creditors	17,643	22,754
Accruals and deferred income	639,998	618,472
	877,213	866,027

7.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

200 (2022 - 200) Ordinary shares of £0.01 each	2	2

8.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,767 (2022 - £5,839). Contributions totalling £964 (2022 - £1,532) were payable to the fund at the balance sheet date and are included in creditors.

9.	Controlling party

W Rowley is the controlling party by virtue of his majority shareholding.

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