REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2023 |
for |
V&D FITNESS LIMITED |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
Accountants: |
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 |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) |
Creditors |
Amounts falling due after more than one year |
8 |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 11 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
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. |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
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 |
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 |
Improvements to property | - |
Plant and machinery | - |
Computer equipment | - |
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 |
4. | Intangible fixed assets |
Franchise |
fees |
£ |
Cost |
At 1 May 2022 |
Additions |
At 30 April 2023 |
Amortisation |
At 1 May 2022 |
Amortisation for year |
At 30 April 2023 |
Net book value |
At 30 April 2023 |
At 30 April 2022 |
5. | Tangible fixed assets |
Improvements |
to | Plant and | Computer |
property | machinery | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 May 2022 |
Additions |
At 30 April 2023 |
Depreciation |
At 1 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2023 |
Net book value |
At 30 April 2023 |
At 30 April 2022 |
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 |
Additions |
Disposals | ( |
) |
At 30 April 2023 |
Depreciation |
At 1 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2023 |
Net book value |
At 30 April 2023 |
At 30 April 2022 |
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 |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Finance leases (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
Finance leases (see note 9) |
Other creditors |
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 |
Between one and five years |
Non-cancellable | operating leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
10. | Secured debts |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
Finance leases | 180,753 | 80,458 |
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: | £ | £ |
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 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
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. |