Adventure Centre Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02098078 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Adventure Centre Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

J R Basiurski

Ms B M Basiurska

SECRETARY:

J R Basiurski

REGISTERED OFFICE:

3 Craven Court

Craven Road

Altrincham

Cheshire

WA14 5DY

REGISTERED NUMBER:

02098078 (England and Wales)

ACCOUNTANTS:

Raise

Chartered Accountants

Trimble House

9 Bold Street

Warrington

Cheshire

WA1 1DN

FIXED ASSETS

Tangible assets

4

1

1

CURRENT ASSETS

Stocks

5,168

60,196

Cash at bank and in hand

1,044

(2,657

)

6,212

57,539

CREDITORS

Amounts falling due within one year

5

6,358

8,913

NET CURRENT (LIABILITIES)/ASSETS

(146

)

48,626

TOTAL ASSETS LESS CURRENT LIABILITIES

(145

)

48,627

CREDITORS

Amounts falling due after more than one year

6

283,609

308,158

NET LIABILITIES

(283,754

)

(259,531

)

CAPITAL AND RESERVES

Called up share capital

50,002

50,002

Retained earnings

(333,756

)

(309,533

)

SHAREHOLDERS' FUNDS

(283,754

)

(259,531

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 23 November 2017 and were signed on its behalf by:

J R Basiurski - Director

Ms B M Basiurska - Director

1.	STATUTORY INFORMATION

Adventure Centre Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Having considered future trading prospects and cash resources available to the company, the directors consider that the

financial statements should be prepared on a going concern basis.

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 the cost less estimated residual value of each asset

over its estimated useful life.

Fixtures and Fittings - 10% on cost

Stocks

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

items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2016

and 31 March 2017

2,146

DEPRECIATION

At 1 April 2016

and 31 March 2017

2,145

NET BOOK VALUE

At 31 March 2017

1

At 31 March 2016

1

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

428

5,568

Social security and other taxes

5,130

2,445

Accrued expenses

800

900

6,358

8,913

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Due to Related Company

283,609

308,158

7.	RELATED PARTY DISCLOSURES

Adventure Centre Ltd and Bayley-Edge Ltd have common directors and ownership. The transactions between the two

companies are done on an arms length basis and for good business reasons as viewed by both parties. During the year the

company was charged rent of £(14,903) ((2016: £4,830) by Bayley-Edge Ltd for use of the shop in Warrington. During the

year Bayley-Edge Ltd continued its "Cumulus" business with marketing and distribution from Warrington by Adventure

Centre staff. The company recharged its costs of this to Bayley-Edge Ltd, amounting to £9,803 (2016: £5,150)).

Bayley-Edge Ltd owed the company £Nil at 31 March 2017 (2016: £Nil). Included within trade creditors is £Nil (2016: £nil)

owing to Bayley-Edge Ltd. In addition, Adventure Centre Ltd owes a further £283,609 (2016: £308,158) to Bayley-Edge

Ltd.

8.	ULTIMATE CONTROLLING PARTY

Mr J Basiurski and Ms B Basiurski are considered to be the ultimate controlling party by virtue of their shareholding.

The following reproduces the text of the report prepared for the directors and members in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance

Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors

are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Adventure Centre Limited for the year ended 31 March 2017 which comprise the Income Statement, Balance Sheet and

the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Adventure Centre Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Adventure Centre Limited and state those matters that we have agreed to state to the Board of Directors of Adventure Centre Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Adventure Centre Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Adventure Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Adventure Centre Limited. You consider that Adventure Centre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Adventure Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Raise

Chartered Accountants

Trimble House

9 Bold Street

Warrington

Cheshire

WA1 1DN

23 November 2017