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Registration number: 13618699

The Unit Fitness Group Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

The Unit Fitness Group Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

The Unit Fitness Group Ltd

Company Information

Directors

B S Bamforth

R M Ashworth

Registered office

Burn Farm
Buckstones Road
Oldham
Greater Manchester
OL1 4ST

 

The Unit Fitness Group Ltd

(Registration number: 13618699)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

315,521

288,016

Current assets

 

Debtors

5

8,159

49,443

Cash at bank and in hand

 

39,275

16,154

 

47,434

65,597

Creditors: Amounts falling due within one year

6

(175,519)

(306,031)

Net current liabilities

 

(128,085)

(240,434)

Total assets less current liabilities

 

187,436

47,582

Provisions for liabilities

(31,381)

-

Net assets

 

156,055

47,582

Capital and reserves

 

Called up share capital

100

100

Retained earnings

155,955

47,482

Shareholders' funds

 

156,055

47,582

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

The Unit Fitness Group Ltd

(Registration number: 13618699)
Balance Sheet as at 29 February 2024

Approved and authorised by the Board on 26 July 2024 and signed on its behalf by:
 

.........................................
B S Bamforth
Director

 

The Unit Fitness Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
Burn Farm
Buckstones Road
Oldham
Greater Manchester
OL1 4ST
England

These financial statements were authorised for issue by the Board on 26 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 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 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 provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

The Unit Fitness Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Computer equipment

33% Straight Line

Office equipment

25% Reducing balance

Plant and machinery

20% Reducing balance

Leasehold improvements

5% Straight Line

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

The Unit Fitness Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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 directors) during the year, was 2 (2023 - 0).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 March 2023

78,928

298

234,941

584

Additions

16,252

366

68,391

2,206

At 29 February 2024

95,180

664

303,332

2,790

Depreciation

At 1 March 2023

3,946

74

22,520

195

Charge for the year

4,258

143

54,380

929

At 29 February 2024

8,204

217

76,900

1,124

Carrying amount

At 29 February 2024

86,976

447

226,432

1,666

At 28 February 2023

74,982

224

212,421

389

 

The Unit Fitness Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Total
£

Cost or valuation

At 1 March 2023

314,751

Additions

87,215

At 29 February 2024

401,966

Depreciation

At 1 March 2023

26,735

Charge for the year

59,710

At 29 February 2024

86,445

Carrying amount

At 29 February 2024

315,521

At 28 February 2023

288,016

Included within the net book value of land and buildings above is £86,976 (2023 - £74,982) in respect of freehold land and buildings.
 

5

Debtors

2024
£

2023
£

Prepayments

2,203

3,567

Other debtors

5,956

45,876

8,159

49,443

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

10,848

13,634

Taxation and social security

9,140

-

Accruals and deferred income

3,005

1,600

Other creditors

152,526

290,797

175,519

306,031