REGISTERED NUMBER: 02512682 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

ACTIVITY WORLD LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M A Boyle

SECRETARY:

Mrs E A Boyle

REGISTERED OFFICE:

Padholme Road East

Peterborough

Cambridgeshire

PE1 5XH

REGISTERED NUMBER:

02512682 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

FIXED ASSETS

Tangible assets

4

748,322

561,798

Investments

5

262

262

748,584

562,060

CURRENT ASSETS

Stocks

102,165

83,120

Debtors

6

161,821

162,841

Cash at bank

89,878

71,197

353,864

317,158

CREDITORS

Amounts falling due within one year

7

52,239

84,445

NET CURRENT ASSETS

301,625

232,713

TOTAL ASSETS LESS CURRENT LIABILITIES

1,050,209

794,773

PROVISIONS FOR LIABILITIES

31,694

7,626

NET ASSETS

1,018,515

787,147

CAPITAL AND RESERVES

Called up share capital

262

262

Revaluation reserve

8

218,283

42,351

Capital redemption reserve

738

738

Retained earnings

799,232

743,796

SHAREHOLDERS' FUNDS

1,018,515

787,147

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 director acknowledges his 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 director on 21 March 2018 and were signed by:

Mr M A Boyle - Director

1.	STATUTORY INFORMATION

Activity World Ltd 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Activity World Ltd as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents the fair value of consideration received or receivable after any trade discounts and prompt

settlement discounts, excluding value added tax.

Tangible fixed assets

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

life.

Freehold property

- Nil

Plant and machinery

- 10% on reducing balance

Fixtures and fittings

- 10% on reducing balance

The freehold property is being depreciated to its estimated residual value over its deemed useful economic life.

The director believes the residual value to be at least the current carrying value in these accounts and therefore

any depreciation would be negligible. The maintenance costs are charged to profit and loss account in the year

incurred. The director reviews the estimated residual value at the end of each accounting period.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at transaction price.

Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured

subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2016 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 October 2016

500,000

419,356

120,627

1,039,983

Additions

-

2,682

-

2,682

Disposals

-

(14,329

)

(19,554

)

(33,883

)

Revaluations

200,000

-

-

200,000

At 30 September 2017

700,000

407,709

101,073

1,208,782

DEPRECIATION

At 1 October 2016

-

378,998

99,187

478,185

Charge for year

-

3,890

1,479

5,369

Eliminated on disposal

-

(10,191

)

(12,903

)

(23,094

)

At 30 September 2017

-

372,697

87,763

460,460

NET BOOK VALUE

At 30 September 2017

700,000

35,012

13,310

748,322

At 30 September 2016

500,000

40,358

21,440

561,798

Cost or valuation at 30 September 2017 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

Valuation in 2014

500,000

-

-

500,000

Valuation in 2017

200,000

-

-

200,000

Cost

-

407,709

101,073

508,782

700,000

407,709

101,073

1,208,782

If freehold property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

457,648

457,648

Freehold property was valued on an open market basis in 2017 by the director.

Included in cost or valuation of land and building is freehold land of £280,000 (2016: £280,000) which is not

depreciated.

Deferred tax on the timing difference relating to the revaluation of freehold property amounts to £26,212 (2016:

£Nil)

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2016

and 30 September 2017

262

NET BOOK VALUE

At 30 September 2017

262

At 30 September 2016

262

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

27,450

26,853

Other debtors

2,500

2,500

Amount due from associated company

125,500

125,500

Prepayments

6,371

7,988

161,821

162,841

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

1,085

10,587

Corporation tax

479

20,947

Taxation and social security

163

2,673

VAT

24,462

15,763

Other creditors

12,740

13,218

Directors' loan accounts

9,597

18,357

Accrued expenses

3,713

2,900

52,239

84,445

8.

RESERVES

Revaluation

reserve

£

At 1 October 2016

42,351

Freehold property revaluation

175,932

At 30 September 2017

218,283

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M A Boyle.

10.	FIRST YEAR ADOPTION

These financial statements for the year ended 30 September 2017 are the first financial statements of Activity

World Limited 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".

The date of transition was 1 October 2015. The reported financial position and financial performance for the

previous period are not affected by the transition.

11.	RECONCILIATION TO EQUITY

FRS102 Section 1a requires deferred tax to be recognised in respect of all timing difference at the reporting date.

There is no timing difference on the revaluation of freehold property due to indexation allowance.