Acorah Software Products - Accounts Production 14.5.601 false true false 30 March 2023 31 March 2024 31 March 2024 14768922 Mr Marc Longden Miss Hannah Davies iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14768922 2023-03-29 14768922 2024-03-31 14768922 2023-03-30 2024-03-31 14768922 frs-core:CurrentFinancialInstruments 2024-03-31 14768922 frs-core:Non-currentFinancialInstruments 2024-03-31 14768922 frs-core:BetweenOneFiveYears 2024-03-31 14768922 frs-core:ComputerEquipment 2024-03-31 14768922 frs-core:ComputerEquipment 2023-03-30 2024-03-31 14768922 frs-core:ComputerEquipment 2023-03-29 14768922 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 14768922 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-30 2024-03-31 14768922 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-29 14768922 frs-core:PlantMachinery 2024-03-31 14768922 frs-core:PlantMachinery 2023-03-30 2024-03-31 14768922 frs-core:PlantMachinery 2023-03-29 14768922 frs-core:WithinOneYear 2024-03-31 14768922 frs-core:ShareCapital 2024-03-31 14768922 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 14768922 frs-bus:PrivateLimitedCompanyLtd 2023-03-30 2024-03-31 14768922 frs-bus:FilletedAccounts 2023-03-30 2024-03-31 14768922 frs-bus:SmallEntities 2023-03-30 2024-03-31 14768922 frs-bus:AuditExempt-NoAccountantsReport 2023-03-30 2024-03-31 14768922 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-30 2024-03-31 14768922 frs-bus:Director1 2023-03-30 2024-03-31 14768922 frs-bus:Director2 2023-03-30 2024-03-31 14768922 frs-countries:EnglandWales 2023-03-30 2024-03-31
Registered number: 14768922
MK1 Gym Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14768922
2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 160,464
160,464
CURRENT ASSETS
Stocks 5 2,564
Debtors 6 399
Cash at bank and in hand 54,454
57,417
Creditors: Amounts Falling Due Within One Year 7 (103,766 )
NET CURRENT ASSETS (LIABILITIES) (46,349 )
TOTAL ASSETS LESS CURRENT LIABILITIES 114,115
Creditors: Amounts Falling Due After More Than One Year 8 (87,402 )
NET ASSETS 26,713
CAPITAL AND RESERVES
Called up share capital 10 1
Profit and Loss Account 26,712
SHAREHOLDERS' FUNDS 26,713
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For the year ending 31 March 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Marc Longden
Director
18/04/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
MK1 Gym Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14768922 . The registered office is Mill Lane, Brayton, YO8 9LB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5% Reducing Balance
Plant & Machinery 10% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3
3
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 30 March 2023 - - - -
Additions 38,251 133,178 1,292 172,721
As at 31 March 2024 38,251 133,178 1,292 172,721
Depreciation
As at 30 March 2023 - - - -
Provided during the period 1,451 10,741 65 12,257
As at 31 March 2024 1,451 10,741 65 12,257
Net Book Value
As at 31 March 2024 36,800 122,437 1,227 160,464
As at 30 March 2023 - - - -
5. Stocks
2024
£
Stock 2,564
6. Debtors
2024
£
Due within one year
Prepayments and accrued income 399
7. Creditors: Amounts Falling Due Within One Year
2024
£
Net obligations under finance lease and hire purchase contracts 19,671
Trade creditors 5,480
Other taxes and social security 165
VAT 7,187
Net wages 288
Accruals and deferred income 3,580
Directors' loan accounts 67,395
103,766
8. Creditors: Amounts Falling Due After More Than One Year
2024
£
Net obligations under finance lease and hire purchase contracts 87,402
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9. Obligations Under Finance Leases and Hire Purchase
2024
£
The future minimum finance lease payments are as follows:
Not later than one year 19,671
Later than one year and not later than five years 87,402
107,073
107,073
10. Share Capital
2024
£
Allotted, Called up and fully paid 1
11. Related Party Transactions
At the year-end, the Company owed the Directors £67,394.78. This balance is included within creditors. This loan is interest free and repayable upon demand.
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