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Registered Number: 13046090
England and Wales

 

 

 

PROJECT 4 FITNESS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 4,332    5,332 
Tangible fixed assets 4 21,382    23,876 
25,714    29,208 
Current assets      
Debtors 27,479   
Cash at bank and in hand 41,027    19,386 
68,506    19,386 
Creditors: amount falling due within one year (31,292)   (24,754)
Net current assets 37,214    (5,368)
 
Total assets less current liabilities 62,928    23,840 
Provisions for liabilities (823)  
Net assets 62,105    23,840 
 

Capital and reserves
     
Called up share capital 5 4    4 
Profit and loss account 62,101    23,836 
Shareholders' funds 62,105    23,840 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 21 August 2024 and were signed on its behalf by:


-------------------------------
Jory Chambers
Director
-------------------------------
Earl Davies
Director
-------------------------------
Lisa McGinnis
Director
1
General Information
Project 4 Fitness Ltd is a private company, limited by shares, registered in England and Wales, registration number 13046090, registration address 171 Fog Lane, Manchester, M20 6JF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 7 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 6 (2022 : 4).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2022 7,000    7,000 
Additions  
Disposals  
At 30 November 2023 7,000    7,000 
Amortisation
At 01 December 2022 1,668    1,668 
Charge for year 1,000    1,000 
On disposals  
At 30 November 2023 2,668    2,668 
Net book values
At 30 November 2023 4,332    4,332 
At 30 November 2022 5,332    5,332 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 December 2022 16,740    14,242    1,526    32,508 
Additions 2,360        2,360 
Disposals      
At 30 November 2023 19,100    14,242    1,526    34,868 
Depreciation
At 01 December 2022 4,111    4,271    250    8,632 
Charge for year 2,605    1,994    255    4,854 
On disposals      
At 30 November 2023 6,716    6,265    505    13,486 
Net book values
Closing balance as at 30 November 2023 12,384    7,977    1,021    21,382 
Opening balance as at 01 December 2022 12,629    9,971    1,276    23,876 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
4 Class A shares of £1.00 each  
 

2