Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-312022-06-01falsephysical well-being activities22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10756579 2022-06-01 2023-05-31 10756579 2021-06-01 2022-05-31 10756579 2023-05-31 10756579 2022-05-31 10756579 c:Director1 2022-06-01 2023-05-31 10756579 c:Director2 2022-06-01 2023-05-31 10756579 c:RegisteredOffice 2022-06-01 2023-05-31 10756579 d:PlantMachinery 2022-06-01 2023-05-31 10756579 d:PlantMachinery 2023-05-31 10756579 d:PlantMachinery 2022-05-31 10756579 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 10756579 d:FurnitureFittings 2022-06-01 2023-05-31 10756579 d:FurnitureFittings 2023-05-31 10756579 d:FurnitureFittings 2022-05-31 10756579 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 10756579 d:ComputerEquipment 2022-06-01 2023-05-31 10756579 d:ComputerEquipment 2023-05-31 10756579 d:ComputerEquipment 2022-05-31 10756579 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 10756579 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 10756579 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-06-01 2023-05-31 10756579 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 10756579 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-05-31 10756579 d:CurrentFinancialInstruments 2023-05-31 10756579 d:CurrentFinancialInstruments 2022-05-31 10756579 d:Non-currentFinancialInstruments 2023-05-31 10756579 d:Non-currentFinancialInstruments 2022-05-31 10756579 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10756579 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 10756579 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 10756579 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 10756579 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 10756579 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-05-31 10756579 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 10756579 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-05-31 10756579 d:ShareCapital 2023-05-31 10756579 d:ShareCapital 2022-05-31 10756579 d:RetainedEarningsAccumulatedLosses 2023-05-31 10756579 d:RetainedEarningsAccumulatedLosses 2022-05-31 10756579 c:FRS102 2022-06-01 2023-05-31 10756579 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 10756579 c:FullAccounts 2022-06-01 2023-05-31 10756579 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 10756579 d:HirePurchaseContracts d:WithinOneYear 2023-05-31 10756579 d:HirePurchaseContracts d:WithinOneYear 2022-05-31 10756579 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-05-31 10756579 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-05-31 10756579 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2022-06-01 2023-05-31 10756579 2 2022-06-01 2023-05-31 10756579 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 10756579









PILATES PT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
PILATES PT LIMITED
 
 
COMPANY INFORMATION


Directors
Miss H Grant 
Mr S W Gordon 




Registered number
10756579



Registered office
5 Elstree Gate
Elstree Way

Borehamwood

Hertfordshire

WD6 1JD




Accountants
Sopher + Co LLP
Chartered Accountants

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
PILATES PT LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 9


 
PILATES PT LIMITED
REGISTERED NUMBER: 10756579

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
29,798
43,760

Tangible assets
 5 
4,707
8,159

  
34,505
51,919

Current assets
  

Stocks
  
11,680
17,788

Debtors: amounts falling due within one year
 6 
37,519
8,090

Cash at bank and in hand
  
1,840
6,610

  
51,039
32,488

Creditors: amounts falling due within one year
 7 
(60,818)
(48,167)

Net current liabilities
  
 
 
(9,779)
 
 
(15,679)

Total assets less current liabilities
  
24,726
36,240

Creditors: amounts falling due after more than one year
 8 
(23,182)
(33,797)

Provisions for liabilities
  

Deferred tax
  
(1,177)
(1,550)

  
 
 
(1,177)
 
 
(1,550)

Net assets
  
367
893


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
357
883

  
367
893


Page 1

 
PILATES PT LIMITED
REGISTERED NUMBER: 10756579
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Miss H Grant
Director

Date: 10 January 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PILATES PT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Pilates PT Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, United Kingdom, WD6 1JD.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents net invoiced sales of services, excluding value added tax. Income is recognised at the point of  delivery of the service.

 
2.3

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
PILATES PT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Online training plans
-
evenly over their estimated useful life of three years

Page 4

 
PILATES PT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery
-
25% on reducing balance
Fixtures and fittings
-
25% on reducing balance
Computer equipment
-
33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
PILATES PT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Intangible assets




Development expenditure

£



Cost


At 1 June 2022
56,311


Additions
2,650



At 31 May 2023

58,961



Amortisation


At 1 June 2022
12,551


Charge for the year on owned assets
16,612



At 31 May 2023

29,163



Net book value



At 31 May 2023
29,798



At 31 May 2022
43,760



Page 6

 
PILATES PT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost


At 1 June 2022
13,797
5,446
5,137
24,380



At 31 May 2023

13,797
5,446
5,137
24,380



Depreciation


At 1 June 2022
9,502
3,222
3,498
16,222


Charge for the year on owned assets
1,074
1,539
838
3,451



At 31 May 2023

10,576
4,761
4,336
19,673



Net book value



At 31 May 2023
3,221
685
801
4,707



At 31 May 2022
4,296
2,224
1,639
8,159


6.


Debtors

2023
2022
£
£


Trade debtors
1,200
-

Other debtors
36,219
6,490

Prepayments and accrued income
100
1,600

37,519
8,090


Page 7

 
PILATES PT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
230
21

Bank loans
10,648
9,687

Trade creditors
8,183
17,421

Corporation tax
10,355
-

Other taxation and social security
13,834
13,970

Obligations under finance lease and hire purchase contracts
583
539

Accruals and deferred income
16,985
6,529

60,818
48,167



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
23,182
33,214

Net obligations under finance leases and hire purchase contracts
-
583

23,182
33,797



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,648
9,687

Amounts falling due 1-2 years

Bank loans
10,648
33,214

Amounts falling due 2-5 years

Bank loans
12,534
-

33,830
42,901


Page 8

 
PILATES PT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
583
539

Between 1-5 years
-
583

583
1,122


11.


Related party transactions

Included in other debtors as at the year-end was £29,787 (2022 - £2,112), owed from the director which is repayable on demand. 

 
Page 9