ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 31 January 2018 the Company had future minimum lease payments under non-cancellable operating leases as follows:

POWERBALL OUTDOOR ACTIVITIES LIMITED - Company Information

Caseware UK (AP4) 2018.0.111 2018.0.111 2018-01-312018-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activityfalse2017-02-01 08496226 2017-02-01 2018-01-31 08496226 2018-01-31 08496226 2016-02-01 2017-01-31 08496226 2017-01-31 08496226 c:Director1 2017-02-01 2018-01-31 08496226 c:RegisteredOffice 2017-02-01 2018-01-31 08496226 d:CurrentFinancialInstruments 2018-01-31 08496226 d:CurrentFinancialInstruments 2017-01-31 08496226 d:CurrentFinancialInstruments d:WithinOneYear 2018-01-31 08496226 d:CurrentFinancialInstruments d:WithinOneYear 2017-01-31 08496226 d:ShareCapital 2018-01-31 08496226 d:ShareCapital 2017-01-31 08496226 d:RetainedEarningsAccumulatedLosses 2018-01-31 08496226 d:RetainedEarningsAccumulatedLosses 2017-01-31 08496226 c:FRS102 2017-02-01 2018-01-31 08496226 c:AuditExempt-NoAccountantsReport 2017-02-01 2018-01-31 08496226 c:FullAccounts 2017-02-01 2018-01-31 08496226 c:PrivateLimitedCompanyLtd 2017-02-01 2018-01-31 08496226 d:WithinOneYear 2018-01-31 08496226 d:WithinOneYear 2017-01-31 08496226 d:BetweenOneFiveYears 2018-01-31 08496226 d:BetweenOneFiveYears 2017-01-31 iso4217:GBP xbrli:pure

Company registration number: 08496226

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 JANUARY 2018

	POWERBALL OUTDOOR ACTIVITIES LIMITED


POWERBALL OUTDOOR ACTIVITIES LIMITED

COMPANY INFORMATION

Director	J A Brudenell-Bruce


Registered number	08496226


Registered office	Unit 1 Eastern Road
	Elliott Industrial Park
	Aldershot
	Hampshire
	GU12 4TF


Accountants	Menzies LLP
	Chartered Accountants
	Victoria House
	50-58 Victoria Road
	Farnborough
	Hampshire
	GU14 7PG


POWERBALL OUTDOOR ACTIVITIES LIMITED

CONTENTS

	Page
Statement of financial position	1
Notes to the financial statements	2 - 4


POWERBALL OUTDOOR ACTIVITIES LIMITED REGISTERED NUMBER:08496226

STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2018

		2018		2017
Note		£		£


Current assets
Stocks		7,304		-
Debtors	4	23,650		21,305
Cash at bank and in hand		7,561		4,200
		38,515		25,505
Creditors: amounts falling due within one year	5	(508,927)		(435,393)
Net current liabilities			(470,412)		(409,888)
Total assets less current liabilities			(470,412)		(409,888)

Net liabilities			(470,412)		(409,888)

Capital and reserves
Issued, called up and fully paid share capital	1	1
Profit and loss account	(470,413)	(409,889)
	(470,412)	(409,888)

The director considers 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 Companies Act 2006.

The director acknowledges his 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 income and retained earnings 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:

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

J A Brudenell-Bruce

Director

Date: 25 October 2018

The notes on pages 2 to 4 form part of these financial statements.

Page 1


POWERBALL OUTDOOR ACTIVITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

1.	General information

Powerball Outdoor Activities Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page.
The principal places of business are:
Hill Farm Road, Privett, Nr.Alton, Hampshire, GU34 3NJ, and
Hurn Court Lane, Christchurch Road, Hurn, Christchurch, Dorset, BH23 6BT
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

During the year the company incurred a net loss of £60,524 (2017: £92,639) and at the balance sheet date, the company's liabilities exceeded its assets by £470,412 (2017: £409,888). The company is financed by Leisuredyne Limited, the parent company, who continues to support the company as is required to ensure it meets its debts as they fall due.
The director is confident that the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the financial statements have adopted the going concern basis of accounting.

2.3

Turnover

Turnover relates to amounts receivable for the provision and supervision of paintball activities during the year in the normal course of business, net of VAT.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the lease term.

2.5

Stocks

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

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 2


POWERBALL OUTDOOR ACTIVITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

2.Accounting policies (continued)

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 17 (2017 - 17).

Debtors

					2018	2017
					£	£


Trade debtors	6,372	110
Other debtors	6,934	4,918
Prepayments and accrued income	10,344	16,277
	23,650	21,305

Other debtors includes £3,600 (2017: £3,600) of debtors falling due after more than one year.

5.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Trade creditors	31,000	9,984
Amounts owed to group undertakings	448,838	398,513
Other taxation and social security	164	596
Other creditors	26,715	24,850
Accruals and deferred income	2,210	1,450
	508,927	435,393

Page 3


POWERBALL OUTDOOR ACTIVITIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

Not later than 1 year	37,800	37,800
Later than 1 year and not later than 5 years	30,763	68,563
	68,563	106,363

7.	Related party transactions
	The loan of £448,838 (2017 - £398,513) provided by the parent company and shown within creditors has been provided interest free and is repayable on demand. Other creditors includes a director's loan of £19,477 (2017 - £19,622) which has been provided interest free and is repayable on demand.

Page 4