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Registration number: 07075937

Mind-Body-Fit Fitness Consultancy Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Mind-Body-Fit Fitness Consultancy Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Mind-Body-Fit Fitness Consultancy Limited

Company Information

Director

Ms MA Lipscomb

Registered office

26 High Street
Rickmansworth
Hertfordshire
WD3 1ER

Accountants

Lee Accounting Services 2018 Ltd
26 High Street
Rickmansworth
Hertfordshire
WD3 1ER

 

Mind-Body-Fit Fitness Consultancy Limited

(Registration number: 07075937)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

51,553

59,284

Current assets

 

Stocks

5

1,305

5,644

Debtors

6

12,185

8,972

Cash at bank and in hand

 

116,659

131,161

 

130,149

145,777

Creditors: Amounts falling due within one year

7

(57,078)

(79,607)

Net current assets

 

73,071

66,170

Total assets less current liabilities

 

124,624

125,454

Provisions for liabilities

(5,991)

(5,558)

Net assets

 

118,633

119,896

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

118,632

119,895

Shareholders' funds

 

118,633

119,896

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 October 2023
 

 

Mind-Body-Fit Fitness Consultancy Limited

(Registration number: 07075937)
Balance Sheet as at 31 May 2023

.........................................
Ms MA Lipscomb
Director

 

Mind-Body-Fit Fitness Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
26 High Street
Rickmansworth
Hertfordshire
WD3 1ER

These financial statements were authorised for issue by the director on 30 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Mind-Body-Fit Fitness Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildings

12.5% Straight line

Office equipment

33% Straight line

Furniture and Fittings

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Mind-Body-Fit Fitness Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

Mind-Body-Fit Fitness Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

80,072

60,648

140,720

Additions

-

11,529

11,529

At 31 May 2023

80,072

72,177

152,249

Depreciation

At 1 June 2022

50,045

31,391

81,436

Charge for the year

10,009

9,251

19,260

At 31 May 2023

60,054

40,642

100,696

Carrying amount

At 31 May 2023

20,018

31,535

51,553

At 31 May 2022

30,027

29,257

59,284

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings and £20,018 (2022 - £30,027) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

1,305

5,644

6

Debtors

Current

2023
£

2022
£

Trade debtors

4,409

3,799

Prepayments

7,588

5,173

Other debtors

188

-

 

12,185

8,972

 

Mind-Body-Fit Fitness Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

2,216

845

Taxation and social security

4,226

13,945

Accruals and deferred income

605

900

Other creditors

50,031

63,917

57,078

79,607

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Share Capital of £1 each

1

1

1

1

         

9

Dividends

   

2023

 

2022

   

£

 

£

Ordinary share of £1
Final

 

13,250

 

8,950

 

 

   

13,625

 

8,950