REGISTERED NUMBER: 06843339 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2017

for

Academy Divers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J F Timperley

Mrs T J Timperley

SECRETARY:

REGISTERED OFFICE:

Corner House

28 Huddersfield Road

Newhey

Rochdale

Lancashire

OL16 3QF

REGISTERED NUMBER:

06843339 (England and Wales)

ACCOUNTANTS:

Brian Gumbley Accountancy Services Ltd

Corner House

28 Huddersfield Road

Newhey

Rochdale

Lancashire

OL16 3QF

FIXED ASSETS

Intangible assets

4

-

677

Tangible assets

5

6,293

7,403

6,293

8,080

CURRENT ASSETS

Stocks

2,176

2,000

Debtors

6

604

957

Cash at bank and in hand

2,997

183

5,777

3,140

CREDITORS

Amounts falling due within one year

7

45,077

36,864

NET CURRENT LIABILITIES

(39,300

)

(33,724

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(33,007

)

(25,644

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(33,107

)

(25,744

)

SHAREHOLDERS' FUNDS

(33,007

)

(25,644

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 26 June 2018 and were signed on its behalf by:

J F Timperley - Director

1.	STATUTORY INFORMATION

Academy Divers 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of eight years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

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 NIL (2016 - 2 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2016

and 30 September 2017

5,000

AMORTISATION

At 1 October 2016

4,323

Charge for year

677

At 30 September 2017

5,000

NET BOOK VALUE

At 30 September 2017

-

At 30 September 2016

677

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2016

and 30 September 2017

24,365

DEPRECIATION

At 1 October 2016

16,962

Charge for year

1,110

At 30 September 2017

18,072

NET BOOK VALUE

At 30 September 2017

6,293

At 30 September 2016

7,403

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Other debtors

361

957

VAT

243

-

604

957

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Other creditors

-

36,864

Directors' current accounts

45,077

-

45,077

36,864