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REGISTERED NUMBER: 10675564 (England and Wales)















BEACON SPORT & FITNESS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






BEACON SPORT & FITNESS LIMITED (REGISTERED NUMBER: 10675564)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BEACON SPORT & FITNESS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Dr K Guo





REGISTERED OFFICE: Beacon Sport And Fitness
Weston Road
Stafford
ST18 0BF





REGISTERED NUMBER: 10675564 (England and Wales)

BEACON SPORT & FITNESS LIMITED (REGISTERED NUMBER: 10675564)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 293,176 255,314

CURRENT ASSETS
Debtors 5 206,306 93,418
Cash at bank and in hand 12,794 23,161
219,100 116,579
CREDITORS
Amounts falling due within one year 6 (46,655 ) (42,148 )
NET CURRENT ASSETS 172,445 74,431
TOTAL ASSETS LESS CURRENT LIABILITIES 465,621 329,745

CREDITORS
Amounts falling due after more than one
year

7

(24,898

)

(33,451

)
NET ASSETS 440,723 296,294

CAPITAL AND RESERVES
Called up share capital 8 266,592 266,592
Retained earnings 174,131 29,702
SHAREHOLDERS' FUNDS 440,723 296,294

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 29 July 2024 and were signed by:





Dr K Guo - Director


BEACON SPORT & FITNESS LIMITED (REGISTERED NUMBER: 10675564)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Beacon Sport & Fitness Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Memberships
Income from memberships is allocated to the period which the membership covers. All income relating to future periods is deferred and included in deferred income within creditors.

Sale of goods
Turnover from the sale of gym related products is recognised when significant risks and rewards ot ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rental income
Rental income from operating leases, net of any incentives given to the lessees, is recognised on a straight-line basis over the lease term.

Interest
Interest income is recognised using the effective interest method.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 5 - 10 years on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.


BEACON SPORT & FITNESS LIMITED (REGISTERED NUMBER: 10675564)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and 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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 281,078
Additions 69,446
At 31 December 2023 350,524
DEPRECIATION
At 1 January 2023 25,764
Charge for year 31,584
At 31 December 2023 57,348
NET BOOK VALUE
At 31 December 2023 293,176
At 31 December 2022 255,314

BEACON SPORT & FITNESS LIMITED (REGISTERED NUMBER: 10675564)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors (1 ) -
Amounts owed by group undertakings 199,369 81,122
Prepayments 6,938 12,296
206,306 93,418

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,966 9,627
Trade creditors 6,417 8,144
Social security and other taxes 4,328 2,467
Pension control 325 496
VAT 18,393 17,744
Accruals and deferred income 7,226 3,670
46,655 42,148

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,120 9,871
Bank loans - 2-5 years 14,778 23,580
24,898 33,451

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
266,592 Ordinary £1 266,592 266,592

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jeremy G Hodgkiss (Senior Statutory Auditor)
for and on behalf of Deans