Company Registration No. 08822576 (England and Wales)
Fusion Fitness Gym (Fareham) Limited
Unaudited accounts
for the year ended 31 December 2023
Fusion Fitness Gym (Fareham) Limited
Unaudited accounts
Contents
Fusion Fitness Gym (Fareham) Limited
Company Information
for the year ended 31 December 2023
Directors
D Jackson
Daniel Jackson
Company Number
08822576 (England and Wales)
Registered Office
22 PILGRIMS WAY
FAREHAM
PO14 3LX
ENGLAND
Fusion Fitness Gym (Fareham) Limited
Statement of financial position
as at 31 December 2023
Tangible assets
158,279
147,445
Cash at bank and in hand
35,446
16,273
Creditors: amounts falling due within one year
(64,856)
(74,662)
Net current liabilities
(13,951)
(23,462)
Total assets less current liabilities
144,328
123,983
Creditors: amounts falling due after more than one year
(11,443)
(54,501)
Provisions for liabilities
Called up share capital
101
100
Profit and loss account
109,832
69,382
Shareholders' funds
109,933
69,482
For the year ending 31 December 2023 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 February 2024 and were signed on its behalf by
D Jackson
Director
Company Registration No. 08822576
Fusion Fitness Gym (Fareham) Limited
Notes to the Accounts
for the year ended 31 December 2023
Fusion Fitness Gym (Fareham) Limited is a private company, limited by shares, registered in England and Wales, registration number 08822576. The registered office is 22 PILGRIMS WAY, FAREHAM, PO14 3LX, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Reducing balance
Fixtures & fittings
20% Straight Line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Fusion Fitness Gym (Fareham) Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2023
172,818
-
172,818
Additions
25,132
3,700
28,832
At 31 December 2023
197,950
3,700
201,650
At 1 January 2023
25,373
-
25,373
Charge for the year
17,258
740
17,998
At 31 December 2023
42,631
740
43,371
At 31 December 2023
155,319
2,960
158,279
At 31 December 2022
147,445
-
147,445
Amounts falling due within one year
Amounts due from group undertakings etc.
4,405
1,405
Deferred tax asset
-
22,989
Accrued income and prepayments
834
-
Other debtors
10,220
9,000
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
7,484
7,484
Loans from directors
39,104
60,428
7
Creditors: amounts falling due after more than one year
2023
2022
Fusion Fitness Gym (Fareham) Limited
Notes to the Accounts
for the year ended 31 December 2023
8
Deferred taxation
2023
2022
Accelerated capital allowances
29,689
(22,989)
Tax losses carried forward
(6,737)
-
Provision at start of year
(22,989)
-
Charged/(credited) to the profit and loss account
45,941
(22,989)
Provision at end of year
22,952
(22,989)
Allotted, called up and fully paid:
101 Ordinary shares of £1 each
101
100
Shares issued during the period:
1 Ordinary shares of £1 each
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan account
(2,250)
31,535
28,065
1,220
(2,250)
31,535
28,065
1,220
The parent and ultimate controlling party is Fusion Fitness Group Limited (Company No: 14484871).
12
Average number of employees
During the year the average number of employees was 2 (2022: 1).