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REGISTERED NUMBER: 10150715 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 April 2023

for

V&D FITNESS LIMITED

V&D FITNESS LIMITED (REGISTERED NUMBER: 10150715)

Contents of the Financial Statements
for the year ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


V&D FITNESS LIMITED

Company Information
for the year ended 30 April 2023







Directors: Mr J Singh
Mrs S Dhami





Registered office: Hillside
High Road
Langdon Hills
Basildon
Essex
SS16 6HQ





Registered number: 10150715 (England and Wales)





Accountants: Haines Watts Essex LLP
Chartered Accountants
Juniper House
Warley Hill Business Park
The Drive
Brentwood
Essex
CM13 3BE

V&D FITNESS LIMITED (REGISTERED NUMBER: 10150715)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 46,500 32,500
Tangible assets 5 753,169 635,170
799,669 667,670

Current assets
Debtors 6 19,355 117,568

Creditors
Amounts falling due within one year 7 533,976 1,406,980
Net current liabilities (514,621 ) (1,289,412 )
Total assets less current liabilities 285,048 (621,742 )

Creditors
Amounts falling due after more than one
year

8

480,785

62,726
Net liabilities (195,737 ) (684,468 )

Capital and reserves
Called up share capital 11 1,000 1,000
Retained earnings (196,737 ) (685,468 )
Shareholders' funds (195,737 ) (684,468 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:




Mr J Singh - Director


V&D FITNESS LIMITED (REGISTERED NUMBER: 10150715)

Notes to the Financial Statements
for the year ended 30 April 2023


1. Statutory information

V&D Fitness 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.

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.

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
Franchise fees, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Straight line over 15 years
Plant and machinery - 20% on cost
Computer equipment - 20% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

V&D FITNESS LIMITED (REGISTERED NUMBER: 10150715)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


2. Accounting policies - continued

Going concern
Although the company has negative net assets, the director will continue to support the company for the next twelve months.

3. Employees and directors

The average number of employees during the year was 13 (2022 - 9 ) .

4. Intangible fixed assets
Franchise
fees
£   
Cost
At 1 May 2022 70,000
Additions 25,000
At 30 April 2023 95,000
Amortisation
At 1 May 2022 37,500
Amortisation for year 11,000
At 30 April 2023 48,500
Net book value
At 30 April 2023 46,500
At 30 April 2022 32,500

5. Tangible fixed assets
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
Cost
At 1 May 2022 509,272 577,543 833 1,087,648
Additions 75,988 185,734 23,990 285,712
At 30 April 2023 585,260 763,277 24,823 1,373,360
Depreciation
At 1 May 2022 2,183 450,017 278 452,478
Charge for year 38,557 124,988 4,565 168,110
Eliminated on disposal - (397 ) - (397 )
At 30 April 2023 40,740 574,608 4,843 620,191
Net book value
At 30 April 2023 544,520 188,669 19,980 753,169
At 30 April 2022 507,089 127,526 555 635,170

V&D FITNESS LIMITED (REGISTERED NUMBER: 10150715)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


5. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Plant and
machinery
£   
Cost
At 1 May 2022 182,374
Additions 184,190
Disposals (176,047 )
At 30 April 2023 190,517
Depreciation
At 1 May 2022 148,939
Charge for year 35,033
Eliminated on disposal (148,833 )
At 30 April 2023 35,139
Net book value
At 30 April 2023 155,378
At 30 April 2022 33,435

During the year, a vehicle held under a hire purchase contract had been settled in full. The disposal of £176,047 shown above represents a change of title rather than a vehicle disposal.

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 19,355 117,568

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 106,252 89,142
Finance leases (see note 9) 44,266 48,565
Trade creditors 85,607 64,819
Taxation and social security 21,522 59,322
Other creditors 276,329 1,145,132
533,976 1,406,980

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 52,919 30,833
Finance leases (see note 9) 136,487 31,893
Other creditors 291,379 -
480,785 62,726

V&D FITNESS LIMITED (REGISTERED NUMBER: 10150715)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


9. Leasing agreements

Minimum lease payments fall due as follows:

Finance leases
2023 2022
£    £   
Net obligations repayable:
Within one year 44,266 48,565
Between one and five years 136,487 31,893
180,753 80,458

Non-cancellable operating leases
2023 2022
£    £   
Within one year 277,262 277,262
Between one and five years 1,109,046 1,109,046
In more than five years 2,458,083 2,735,344
3,844,391 4,121,652

10. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 136,917 96,572
Finance leases 180,753 80,458
317,670 177,030

The bank loan is secured by way of fixed and floating charges on the assets of the company.

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

V&D FITNESS LIMITED (REGISTERED NUMBER: 10150715)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


12. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
Mr J Singh and Mrs S Dhami
Balance outstanding at start of year (17,500 ) -
Amounts advanced 19,955 4,000
Amounts repaid (46,096 ) (21,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (43,641 ) (17,500 )

13. Related party disclosures

Included within other creditors due within one year is an amount of £50,000 (2022 - £1,042,254) due to J&S Healthcare Limited, a company in which the director, Mr J Singh, has a material interest.

Included within other creditors due in more than one year is an amount of £50,000 (2022 - £nil) due to J&S Healthcare Limited, a company in which the director, Mr J Singh, has a material interest.