Company Registration No. 10782388 (England and Wales)
The Fit Tank Limited
Unaudited accounts
for the year ended 31 March 2023
The Fit Tank Limited
Unaudited accounts
Contents
The Fit Tank Limited
Company Information
for the year ended 31 March 2023
Directors
James Tantram
Katie Tantram
Company Number
10782388 (England and Wales)
Registered Office
96 Newfoundland Way
Portishead
Bristol
BS20 7QE
Accountants
Space Advisory and Accountancy Limited
19 Malago Drive
Bristol
BS3 5DR
The Fit Tank Limited
Statement of financial position
as at 31 March 2023
Tangible assets
5,825
8,002
Cash at bank and in hand
9,338
15,550
Creditors: amounts falling due within one year
(3,397)
(10,422)
Net current assets
6,744
5,795
Total assets less current liabilities
12,569
13,797
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
11,709
12,593
Shareholders' funds
11,809
12,693
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 directors acknowledge their 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 of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by
Katie Tantram
Director
Company Registration No. 10782388
The Fit Tank Limited
Notes to the Accounts
for the year ended 31 March 2023
The Fit Tank Limited is a private company, limited by shares, registered in England and Wales, registration number 10782388. The registered office is 96 Newfoundland Way, Portishead, Bristol, BS20 7QE.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 memberships is based on the fee due for the accounting period, annual memberships are deferred if applicable.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10 years straight line
Plant & machinery
5 years straight line
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The Fit Tank Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2022
9,818
7,981
17,799
At 31 March 2023
9,818
8,481
18,299
At 1 April 2022
3,926
5,871
9,797
Charge for the year
981
1,696
2,677
At 31 March 2023
4,907
7,567
12,474
At 31 March 2023
4,911
914
5,825
At 31 March 2022
5,892
2,110
8,002
Amounts falling due within one year
Accrued income and prepayments
803
667
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
972
2,350
Loans from directors
2,000
7,647
7
Transactions with related parties
There are no related party transactions outside the normal course of business required to be disclosed under FRS 102.
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Average number of employees
During the year the average number of employees was 1 (2022: 1).