Revolutionize Fitness Ltd 11315546 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Gym - Fitness Facilities Digita Accounts Production Advanced 6.30.9574.0 true true 11315546 2023-04-01 2024-03-31 11315546 2024-03-31 11315546 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11315546 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 11315546 core:OfficeEquipment 2024-03-31 11315546 core:PlantMachinery 2024-03-31 11315546 bus:SmallEntities 2023-04-01 2024-03-31 11315546 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11315546 bus:FilletedAccounts 2023-04-01 2024-03-31 11315546 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11315546 bus:RegisteredOffice 2023-04-01 2024-03-31 11315546 bus:Director1 2023-04-01 2024-03-31 11315546 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11315546 core:ComputerEquipment 2023-04-01 2024-03-31 11315546 core:OfficeEquipment 2023-04-01 2024-03-31 11315546 core:PlantMachinery 2023-04-01 2024-03-31 11315546 countries:England 2023-04-01 2024-03-31 11315546 2023-03-31 11315546 core:OfficeEquipment 2023-03-31 11315546 core:PlantMachinery 2023-03-31 11315546 2022-04-01 2023-03-31 11315546 2023-03-31 11315546 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11315546 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 11315546 core:OfficeEquipment 2023-03-31 11315546 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 11315546

Revolutionize Fitness Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Revolutionize Fitness Ltd

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Revolutionize Fitness Ltd

Company Information

Director

Mr Damion Sinclair Greenaway

Registered office

The Coach House
Edderside
Maryport
Cumbria
CA15 6RA

Accountants

Onyx Accountants Limited
Chartered Management Accountants
Onyx House
12 Phoenix Business Park
Avenue Close
Birmingham
West Midlands
B7 4NU

 

Revolutionize Fitness Ltd

(Registration number: 11315546)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

23,300

30,427

Current assets

 

Cash at bank and in hand

 

7,809

23,549

Creditors: Amounts falling due within one year

(43,887)

(31,898)

Net current liabilities

 

(36,078)

(8,349)

Total assets less current liabilities

 

(12,778)

22,078

Creditors: Amounts falling due after more than one year

-

(29,214)

Accruals and deferred income

 

-

(850)

Net liabilities

 

(12,778)

(7,986)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(12,878)

(8,086)

Shareholders' deficit

 

(12,778)

(7,986)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 July 2024
 

.........................................
Mr Damion Sinclair Greenaway
Director

 

Revolutionize Fitness Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Coach House
Edderside
Maryport
Cumbria
CA15 6RA
England

These financial statements were authorised for issue by the director on 10 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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 taxable income.

 

Revolutionize Fitness Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Computer equipment

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Revolutionize Fitness Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

48,150

3,992

52,142

Additions

500

139

639

At 31 March 2024

48,650

4,131

52,781

Depreciation

At 1 April 2023

20,717

998

21,715

Charge for the year

6,983

783

7,766

At 31 March 2024

27,700

1,781

29,481

Carrying amount

At 31 March 2024

20,950

2,350

23,300

At 31 March 2023

27,433

2,994

30,427

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.