On Form Personal Training Ltd 11067623 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is personal training Digita Accounts Production Advanced 6.30.9574.0 true true 11067623 2022-12-01 2023-11-30 11067623 2023-11-30 11067623 bus:OrdinaryShareClass1 bus:OtherShareType 2023-11-30 11067623 core:CurrentFinancialInstruments 2023-11-30 11067623 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 11067623 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 11067623 core:FurnitureFittingsToolsEquipment 2023-11-30 11067623 core:OtherPropertyPlantEquipment 2023-11-30 11067623 bus:SmallEntities 2022-12-01 2023-11-30 11067623 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 11067623 bus:FilletedAccounts 2022-12-01 2023-11-30 11067623 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 11067623 bus:RegisteredOffice 2022-12-01 2023-11-30 11067623 bus:Director1 2022-12-01 2023-11-30 11067623 bus:OrdinaryShareClass1 bus:OtherShareType 2022-12-01 2023-11-30 11067623 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11067623 core:Goodwill 2022-12-01 2023-11-30 11067623 core:IntangibleAssetsOtherThanGoodwill 2022-12-01 2023-11-30 11067623 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 11067623 core:OtherPropertyPlantEquipment 2022-12-01 2023-11-30 11067623 core:PlantMachinery 2022-12-01 2023-11-30 11067623 core:OtherRelatedParties 2022-12-01 2023-11-30 11067623 countries:EnglandWales 2022-12-01 2023-11-30 11067623 2022-11-30 11067623 core:FurnitureFittingsToolsEquipment 2022-11-30 11067623 core:OtherPropertyPlantEquipment 2022-11-30 11067623 2021-12-01 2022-11-30 11067623 2022-11-30 11067623 bus:OrdinaryShareClass1 bus:OtherShareType 2022-11-30 11067623 core:CurrentFinancialInstruments 2022-11-30 11067623 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 11067623 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 11067623 core:FurnitureFittingsToolsEquipment 2022-11-30 11067623 core:OtherPropertyPlantEquipment 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11067623

On Form Personal Training Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 November 2023

 

On Form Personal Training Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

On Form Personal Training Ltd

Company Information

Director

A J Carter

Registered office

16 Austen Gardens
Whiteley
Fareham
Hampshire
PO15 7HW

Accountants

Keith Powers FCA
51 Burridge Road
Southampton
SO31 1BY

 

On Form Personal Training Ltd

(Registration number: 11067623)
Abridged Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

3,432

5,147

Tangible assets

5

8,381

13,261

 

11,813

18,408

Current assets

 

Debtors

6

3,006

3,006

Cash at bank and in hand

 

12,076

8,110

 

15,082

11,116

Creditors: Amounts falling due within one year

(8,334)

(5,334)

Net current assets

 

6,748

5,782

Total assets less current liabilities

 

18,561

24,190

Creditors: Amounts falling due after more than one year

(10,389)

(11,560)

Net assets

 

8,172

12,630

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

8,072

12,530

Shareholders' funds

 

8,172

12,630

For the financial year ending 30 November 2023 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

On Form Personal Training Ltd

(Registration number: 11067623)
Abridged Balance Sheet as at 30 November 2023

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 19 August 2024
 

.........................................
A J Carter
Director

 

On Form Personal Training Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

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:
16 Austen Gardens
Whiteley
Fareham
Hampshire
PO15 7HW

These financial statements were authorised for issue by the director on 19 August 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 tax expense for the period comprises 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.

 

On Form Personal Training Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

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.

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

Training equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intangible assets

16.67% 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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

On Form Personal Training Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

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 3 (2022 - 2).

 

On Form Personal Training Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

4

Intangible assets

Total
£

Cost or valuation

At 1 December 2022

10,292

At 30 November 2023

10,292

Amortisation

At 1 December 2022

5,145

Amortisation charge

1,715

At 30 November 2023

6,860

Carrying amount

At 30 November 2023

3,432

At 30 November 2022

5,147

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2022

2,167

33,517

35,684

Additions

-

3,500

3,500

At 30 November 2023

2,167

37,017

39,184

Depreciation

At 1 December 2022

2,167

20,256

22,423

Charge for the year

-

8,380

8,380

At 30 November 2023

2,167

28,636

30,803

Carrying amount

At 30 November 2023

-

8,381

8,381

At 30 November 2022

-

13,261

13,261

 

On Form Personal Training Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

28,867

12,500

Summary of transactions with other related parties

The company is under the control of the director who owns 100% of the issued equity share capital.

Included in other creditors is an amount owed to the director of £2,270 (2022:- £2,159). The loan is unsecured, free of interest and has no fixed terms of repayment.

 
Except as disclosed elsewhere in these accounts, there were no transactions with related parties requiring disclosure in terms of S1a of FRS102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, or the Companies Act, 2006.