Limited Adventures Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12198375 (England and Wales)

Unaudited Financial Statements

for the Period 10 September 2019 to 31 March 2020

for

LIMITED ADVENTURES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

B Davis

REGISTERED OFFICE:

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

REGISTERED NUMBER:

12198375 (England and Wales)

CURRENT ASSETS

Cash at bank

58,988

CREDITORS

Amounts falling due within one year

4

(18,617

)

NET CURRENT ASSETS

40,371

TOTAL ASSETS LESS CURRENT LIABILITIES

40,371

CAPITAL AND RESERVES

Called up share capital

5

100

Retained earnings

40,271

SHAREHOLDERS' FUNDS

40,371

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 24 July 2020 and were signed by:

B Davis - Director

1.	STATUTORY INFORMATION

Limited Adventures 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates and these

estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are

recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the

revision and future periods if the revision affects both current and future periods.

The items in the financial statements where these judgements and estimates have been made include provisions and

recoverability of debtors.

Turnover

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

value added tax and other sales taxes.

Revenue from the sale of services is recognised at the point of sale.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements

entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after

deducting all of its financial liabilities.

Taxation

Taxation for the period 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 period 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.

Impairment policy

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any

indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of

an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to

estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating

unit to which the asset belongs.

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in existence for the

foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial

statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

239

Taxation and social security

17,204

Other creditors

1,174

18,617

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1.00

100

100 Ordinary shares of £1.00 each were allotted and fully paid for cash at par during the period.