Molly Mac Fitness Ltd SC688167 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is provision of online fitness classes. Digita Accounts Production Advanced 6.30.9574.0 true SC688167 2022-03-01 2023-02-28 SC688167 2023-02-28 SC688167 core:CurrentFinancialInstruments 2023-02-28 SC688167 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 SC688167 bus:SmallEntities 2022-03-01 2023-02-28 SC688167 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 SC688167 bus:FullAccounts 2022-03-01 2023-02-28 SC688167 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 SC688167 bus:RegisteredOffice 2022-03-01 2023-02-28 SC688167 bus:Director1 2022-03-01 2023-02-28 SC688167 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 SC688167 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-03-01 2023-02-28 SC688167 countries:AllCountries 2022-03-01 2023-02-28 SC688167 2021-02-04 2022-02-28 SC688167 2022-02-28 SC688167 core:CurrentFinancialInstruments 2022-02-28 SC688167 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 iso4217:GBP xbrli:pure

Registration number: SC688167

Molly Mac Fitness Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Molly Mac Fitness Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Molly Mac Fitness Ltd

Company Information

Director

Miss M MacLachlan

Registered office

 

Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Molly Mac Fitness Ltd

(Registration number: SC688167)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

378

-

Cash at bank and in hand

 

1,943

4,616

 

2,321

4,616

Creditors: Amounts falling due within one year

5

(2,174)

(4,292)

Net assets

 

147

324

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

47

224

Shareholders' funds

 

147

324

For the financial year ending 28 February 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 Sections 386 and 387 of the Companies Act 2006 with respect to accounting records and the preparation of the 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.

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 and the option not to file the Profit and Loss Account has been taken.

 

Molly Mac Fitness Ltd

(Registration number: SC688167)
Balance Sheet as at 28 February 2023

Approved and authorised by the director on 14 November 2023
 

.........................................
Miss M MacLachlan
Director

 

Molly Mac Fitness Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland .

The address of its registered office is:
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

These financial statements were authorised for issue by the director on 14 November 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

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.

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

Revenue recognition

Turnover comprises the fair value of the consideration derived from that of online fitness & retail merchandise. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

 

Molly Mac Fitness Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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.

At the balance sheet date, the company reviews the carrying amounts of its tangible fixed 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. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2022 - 1).

 

Molly Mac Fitness Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Debtors

2023
£

2022
£

Other debtors

378

-

378

-

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

2,174

2,180

Accruals and deferred income

-

1,200

Other creditors

-

912

2,174

4,292

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Molly Mac Fitness Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7

Related party transactions

The company operates a loan account with the director, Miss M MacLachlan.
During the year, the company advanced loans totalling £1,290 to the director. At the year end, the balance due from the director was £378 (2022 - £912 due from company). This loan is unsecured, interest free and has no fixed repayment terms.