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REGISTERED NUMBER: 03580515 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Physique Management Company Limited

Physique Management Company Limited (Registered number: 03580515)






Contents of the Financial Statements
for the Year Ended 30 SEPTEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Physique Management Company Limited (Registered number: 03580515)

Balance Sheet
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 35,888 -
Tangible assets 5 238,976 263,280
274,864 263,280

CURRENT ASSETS
Stocks 6 765,988 860,186
Debtors 7 546,245 479,590
Cash at bank and in hand 542,513 310,173
1,854,746 1,649,949
CREDITORS
Amounts falling due within one year 8 (888,059 ) (727,327 )
NET CURRENT ASSETS 966,687 922,622
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,241,551

1,185,902

CREDITORS
Amounts falling due after more than one
year

9

(22,535

)

(32,224

)

PROVISIONS FOR LIABILITIES (22,381 ) (25,545 )
NET ASSETS 1,196,635 1,128,133

CAPITAL AND RESERVES
Called up share capital 12,149 12,149
Share premium 22,851 22,851
Retained earnings 1,161,635 1,093,133
SHAREHOLDERS' FUNDS 1,196,635 1,128,133

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing 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.

Physique Management Company Limited (Registered number: 03580515)

Balance Sheet - continued
30 SEPTEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 February 2024 and were signed by:





K D Peters - Director


Physique Management Company Limited (Registered number: 03580515)

Notes to the Financial Statements
for the Year Ended 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Physique Management Company Limited is a private company, limited by shares, registered in England and Wales, registration number 03580515. The registered office is Solar House, PF 915 High Road, North Finchley, London N12 8QJ.

The presentation currency of the financial statements is pound sterling (£) and the level of rounding is the nearest £1.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of 10 years on cost.
Development costs are being amortised on 25% reducing balance.

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, on a straight line and reducing balance basis.

Depreciation is provided on the following basis:
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on cost
Long leasehold - 15 years on cost
Improvement to property - 15 years 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 the Profit and loss account.

Physique Management Company Limited (Registered number: 03580515)

Notes to the Financial Statements - continued
for the Year Ended 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 FIFO basis.

At each balance sheet 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.

Financial instruments
The company has entered into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors,creditors and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is fund, an impairment loss is recognised in the profit and loss.

Taxation
Taxation for the year comprises current and deferred 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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Physique Management Company Limited (Registered number: 03580515)

Notes to the Financial Statements - continued
for the Year Ended 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 45,501
At 30 September 2023 45,501
AMORTISATION
Charge for year 9,613
At 30 September 2023 9,613
NET BOOK VALUE
At 30 September 2023 35,888

5. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 October 2022 31,861 142,825 223,728
Additions - - 8,161
At 30 September 2023 31,861 142,825 231,889
DEPRECIATION
At 1 October 2022 2,787 10,800 134,741
Charge for year 2,124 9,521 24,287
At 30 September 2023 4,911 20,321 159,028
NET BOOK VALUE
At 30 September 2023 26,950 122,504 72,861
At 30 September 2022 29,074 132,025 88,987

Physique Management Company Limited (Registered number: 03580515)

Notes to the Financial Statements - continued
for the Year Ended 30 SEPTEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 October 2022 39,008 21,500 458,922
Additions 7,632 - 15,793
At 30 September 2023 46,640 21,500 474,715
DEPRECIATION
At 1 October 2022 25,814 21,500 195,642
Charge for year 4,165 - 40,097
At 30 September 2023 29,979 21,500 235,739
NET BOOK VALUE
At 30 September 2023 16,661 - 238,976
At 30 September 2022 13,194 - 263,280

6. STOCKS
30.9.23 30.9.22
£    £   
Stocks 765,988 860,186

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 199,685 314,443
Other debtors 346,560 165,147
546,245 479,590

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 336,840 286,212
Amounts owed to group undertakings 50,635 60,635
Taxation and social security 315,900 268,159
Other creditors 184,684 112,321
888,059 727,327

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 30.9.22
£    £   
Other creditors 22,535 32,224

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.23 30.9.22
£    £   
Within one year 37,045 37,045
Between one and five years 1,133,604 1,170,649
1,170,649 1,207,694