Company registration number 14279366 (England and Wales)
Lift Club Fitness Ltd
Unaudited
financial statements
for the period ended 31 August 2023
PAGES FOR FILING WITH REGISTRAR
Lift Club Fitness Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Lift Club Fitness Ltd
Statement of financial position
as at 31 August 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
4
17,140
Current assets
Cash at bank and in hand
22,471
Creditors: amounts falling due within one year
5
(37,187)
Net current liabilities
(14,716)
Net assets
2,424
Capital and reserves
Called up share capital
100
Profit and loss reserves
2,324
Total equity
2,424

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial period ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 15 January 2024
B Johnson
Director
Company registration number 14279366 (England and Wales)
Lift Club Fitness Ltd
Notes to the financial statements
for the period ended 31 August 2023
- 2 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover is recognised on the receipts basis for goods and services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Lift Club Fitness Ltd
Notes to the financial statements (continued)
for the period ended 31 August 2023
- 3 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
1
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 5 August 2022
-
0
Additions
17,140
At 31 August 2023
17,140
Depreciation and impairment
At 5 August 2022 and 31 August 2023
-
0
Carrying amount
At 31 August 2023
17,140
5
Creditors: amounts falling due within one year
2023
£
Corporation tax
5,907
Other creditors
31,280
37,187
6
Company information

Lift Club Fitness Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Stoneacre Lodge, Linton Lane, Wetherby, West Yorkshire, LS22 6HG.

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