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Company Registration No. 12539053 (England and Wales)
ERB FITNESS LTD Unaudited accounts for the year ended 31 March 2023
ERB FITNESS LTD Unaudited accounts Contents
Page
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ERB FITNESS LTD Company Information for the year ended 31 March 2023
Director
Emma Rose BURGE
Company Number
12539053 (England and Wales)
Registered Office
14 Hillyfields Nursling SOUTHAMPTON HAMPSHIRE SO16 0XQ ENGLAND
Accountants
The Accounting Studio (Consulting) Ltd 23 Downscroft Gardens Hedge End Southampton Hampshire SO30 4RR
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of ERB FITNESS LTD for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ERB FITNESS LTD for the year ended 31 March 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of ERB FITNESS LTD, as a body, in accordance with the terms of our engagement letter dated 1 January 2022. Our work has been undertaken solely to prepare for your approval the accounts of ERB FITNESS LTD and state those matters that we have agreed to state to the Board of Directors of ERB FITNESS LTD, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ERB FITNESS LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that ERB FITNESS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ERB FITNESS LTD. You consider that ERB FITNESS LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of ERB FITNESS LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
The Accounting Studio (Consulting) Ltd Chartered Accountants 23 Downscroft Gardens Hedge End Southampton Hampshire SO30 4RR 12 September 2023
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ERB FITNESS LTD Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,284 
1,077 
Investments
343,921 
- 
345,205 
1,077 
Current assets
Debtors
211,692 
823,441 
Cash at bank and in hand
921,537 
229,208 
1,133,229 
1,052,649 
Creditors: amounts falling due within one year
(212,467)
(364,847)
Net current assets
920,762 
687,802 
Net assets
1,265,967 
688,879 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,265,966 
688,878 
Shareholders' funds
1,265,967 
688,879 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 October 2023 and were signed on its behalf by
Emma Rose BURGE Director Company Registration No. 12539053
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ERB FITNESS LTD Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
ERB FITNESS LTD is a private company, limited by shares, registered in England and Wales, registration number 12539053. The registered office is 14 Hillyfields, Nursling, SOUTHAMPTON, HAMPSHIRE, SO16 0XQ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 March 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2021. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in note 10 below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
3 years
Computer equipment
Between 2 and 3 years
Investments
Investments in shares are included at fair value.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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ERB FITNESS LTD Notes to the Accounts for the year ended 31 March 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
857 
1,255 
2,112 
Additions
- 
3,227 
3,227 
Disposals
- 
(1,988)
(1,988)
At 31 March 2023
857 
2,494 
3,351 
Depreciation
At 1 April 2022
572 
463 
1,035 
Charge for the year
285 
1,906 
2,191 
On disposals
- 
(1,159)
(1,159)
At 31 March 2023
857 
1,210 
2,067 
Net book value
At 31 March 2023
- 
1,284 
1,284 
At 31 March 2022
285 
792 
1,077 
5
Investments
Other investments 
£ 
Valuation at 1 April 2022
- 
Additions
350,023 
Fair value adjustments
(6,102)
Valuation at 31 March 2023
343,921 
The fair value of the investments at the year end is based on the market value.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
105,729 
75,531 
Other debtors
28,521 
194,402 
134,250 
269,933 
Amounts falling due after more than one year
Other debtors
77,442 
553,508 
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ERB FITNESS LTD Notes to the Accounts for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
46,831 
55,760 
Taxes and social security
165,636 
309,087 
212,467 
364,847 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Emma Rose BURGE
Directors Loan
553,508 
84,882 
560,948 
77,442 
553,508 
84,882 
560,948 
77,442 
During the year Ms E Burge, a director of the company was loaned a maximum amount of £561,236. The balance outstanding at the year end was £77,442. Interest is charged on the loan at 2.25%. The loan is repayable on 3rd December 2031.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
10
Reconciliations on adoption of FRS 102
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