PARKOUR UK LIMITED - Accounts 2014

PARKOUR UK LIMITED - Accounts 2014

PARKOUR UK - Company Information

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2013-04-012014-03-3106952200falsetruehttp://www.companieshouse.gov.uk/cd:Director12013-04-012014-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2013-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2014-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2013-04-012014-03-31http://www.companieshouse.gov.uk/2013-04-012014-03-31http://www.companieshouse.gov.uk/2013-03-31http://www.companieshouse.gov.uk/2014-03-31http://www.companieshouse.gov.uk/cd:EntityAccountantsOrAuditors2013-04-012014-03-31http://www.companieshouse.gov.uk/2013-03-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 06952200
Parkour UK Limited (A Company Limited by Guarantee)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/03/2014
Prepared By:
Allan G Hill & Partners
Chenies
Okewood Hill
Nr Ockley, Dorking
Surrey
RH5 5NB

Parkour UK Limited (A Company Limited by Guarantee)
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/03/2014
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts3
The company's registered number is 06952200

Parkour UK Limited (A Company Limited by Guarantee)
Registered Number: 06952200
BALANCE SHEET AT 31/03/2014
20142013
Notes££
FIXED ASSETS
Tangible assets25991,199
CURRENT ASSETS
Debtors (amounts falling due within one year)38,4352,015
Cash at bank and in hand1,2531,741
9,6883,756
CREDITORS: Amounts falling due within one year721,42528,127
NET CURRENT LIABILITIES(11,737)(24,371)
TOTAL ASSETS LESS CURRENT LIABILITIES(11,138)(23,172)
CAPITAL AND RESERVES
Profit and loss account(11,138)(23,172)
SHAREHOLDERS' FUNDS(11,138)(23,172)
For the year ending 31/03/2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board on 29/07/2014 and signed on their behalf by
Daniel Edwardes
Director
.............................
Stephen Mitchell
Chairman and Non-Executive Director

Parkour UK Limited (A Company Limited by Guarantee)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2014
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008).
1c. Going Concern
The company was insolvent at the balance sheet date. This is in accordance with the Directors' expectations in the pursuance of a sustainable, not-for-profit entity promoting the sports discipline of Parkour/Freerunning.
The overrall deficit has reduced significantly from the previous year, and whilst there can be no certainty in relation to these matters, it is the Directors' expectation that the Company will return to a position of Solvency in the near future. If the company was to be valued on a break up basis, it is unlikely that there would be any material financial adjustment.
1d. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentstraight line 33%
1e. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.
1f. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax.

Parkour UK Limited (A Company Limited by Guarantee)
2. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 01/04/20131,7991,799
At 31/03/20141,7991,799
Depreciation
At 01/04/2013600600
For the year600600
At 31/03/20141,2001,200
Net Book Amounts
At 31/03/2014599599
At 31/03/20131,1991,199
3. DEBTORS 20142013
££
Amounts falling due within one year:
Trade debtors8,4351,182
Other debtors-833
8,4352,015
4. LIMITED BY GUARANTEE
The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £1, to the company should it be wound up. At 31/03/2014 there were six members.

Parkour UK Limited (A Company Limited by Guarantee)
5. RELATED PARTY TRANSACTIONS
During the year Parkour Generations Limited, (a member of Parkour UK), invoiced Parkour UK Limited £27,758 net of VAT (2013 - £43,514 net of VAT) at open market rates for the provision of tutors in the delivery of Parkour UK Awards, CPD and Qualifications. Parkour UK Limited owes Parkour Generations Limited £NIL (2013 - £13,391).
During the year Parkour UK Limited invoiced Parkour Generations Limited £13,242 net of VAT (2013 - £3,725 net of VAT) at open market rates for the provision of Parkour UK Awards, CPD, Qualifications, Insurance and Membership services. Parkour Generations Limited owes Parkour UK Limited £NIL (2013 - £NIL).
As at the Year End all historic legacy payments owed to and from both parties had been fully settled.
6. TAX ON ORDINARY ACTIVITIES
20142013
££
Interest on corporation tax13-
13-
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20142013
££
Trade creditors-13,391
Taxation and social security3592,027
Other creditors21,06612,709
21,42528,127
8. CONTROLLING PARTY
The company was controlled throughout the current year by the Voting Members.