Company registration number 10808629 (England and Wales)
APTITUDE FITNESS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
APTITUDE FITNESS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
APTITUDE FITNESS LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
216,670
216,670
Tangible assets
4
-
0
190
216,670
216,860
Current assets
Debtors
5
188
287
Cash at bank and in hand
1,242
13,242
1,430
13,529
Creditors: amounts falling due within one year
6
(12,712)
(22,774)
Net current liabilities
(11,282)
(9,245)
Total assets less current liabilities
205,388
207,615
Creditors: amounts falling due after more than one year
7
(322,565)
(318,900)
Net liabilities
(117,177)
(111,285)
Capital and reserves
Called up share capital
164
164
Share premium account
283,960
283,960
Profit and loss reserves
(401,301)
(395,409)
Total equity
(117,177)
(111,285)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year 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.

APTITUDE FITNESS LTD
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2023
28 February 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 March 2024 and are signed on its behalf by:
Steven Chapman
Director
Company registration number 10808629 (England and Wales)
APTITUDE FITNESS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information

Aptitude Fitness Ltd is a private company limited by shares incorporated in England and Wales. The registered office is c/o Maple Works, 73 Maple Road, Surbiton, Surrey, England, KT6 4AG.

1.1
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 £.

1.2
Going concern

Whilst the company has net liabilties at the reporting date, the Directors have confirmed they will fund operations for the foreseeable future. Atruet the time of approving the financial statements, the directors have have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Intangible assets
Amortised over useful economic life once asset is revenue generating
1.4
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:

Plant and machinery
Straight line over 4 years
Computer equipment
Straight line over 4 years

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.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

APTITUDE FITNESS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

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

2023
2022
Number
Number
Total
1
1
APTITUDE FITNESS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
3
Intangible fixed assets
Intangible assets
£
Cost
At 1 March 2022 and 28 February 2023
216,670
Amortisation and impairment
At 1 March 2022 and 28 February 2023
-
0
Carrying amount
At 28 February 2023
216,670
At 28 February 2022
216,670
4
Tangible fixed assets
Plant and machinery
Computer equipment
Total
£
£
£
Cost
At 1 March 2022 and 28 February 2023
1,346
1,973
3,319
Depreciation and impairment
At 1 March 2022
1,156
1,973
3,129
Depreciation charged in the year
190
-
0
190
At 28 February 2023
1,346
1,973
3,319
Carrying amount
At 28 February 2023
-
0
-
0
-
0
At 28 February 2022
190
-
0
190
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
188
287
APTITUDE FITNESS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
8
-
0
10,000
Trade creditors
-
0
2,811
Other creditors
6,963
6,963
Accruals and deferred income
5,749
3,000
12,712
22,774
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
-
0
32,892
Other creditors
322,565
286,008
322,565
318,900
8
Loans and overdrafts
2023
2022
£
£
Bank loans
-
0
42,892
Other loans
322,565
286,008
322,565
328,900
Payable within one year
-
0
10,000
Payable after one year
322,565
318,900
9
Related party transactions

During the year, the company made no advances to the director and received credits of £36,557 which resulted in amounts due from the company at the year end of £322,565 (2022 - £286,008).

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