Balance Leisure Limited 12120732 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is health and fitness Digita Accounts Production Advanced 6.30.9574.0 true true true 12120732 2023-04-01 2024-03-31 12120732 2024-03-31 12120732 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-03-31 12120732 core:CurrentFinancialInstruments 2024-03-31 12120732 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12120732 bus:SmallEntities 2023-04-01 2024-03-31 12120732 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12120732 bus:FilletedAccounts 2023-04-01 2024-03-31 12120732 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12120732 bus:RegisteredOffice 2023-04-01 2024-03-31 12120732 bus:Director1 2023-04-01 2024-03-31 12120732 bus:Director2 2023-04-01 2024-03-31 12120732 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-01 2024-03-31 12120732 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12120732 1 2023-04-01 2024-03-31 12120732 countries:England 2023-04-01 2024-03-31 12120732 2022-04-01 2023-03-31 12120732 2023-03-31 12120732 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-31 12120732 core:CurrentFinancialInstruments 2023-03-31 12120732 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12120732

Balance Leisure Limited

trading as Balance Leisure Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Balance Leisure Limited

trading as Balance Leisure Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Balance Leisure Limited

trading as Balance Leisure Ltd

(Registration number: 12120732)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

1,791

2,061

Debtors

5

1,956

143

Cash at bank and in hand

 

4,547

1,043

 

8,294

3,247

Creditors: Amounts falling due within one year

6

(289,639)

(182,640)

Net liabilities

 

(281,345)

(179,393)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(281,445)

(179,493)

Shareholders' deficit

 

(281,345)

(179,393)

For the financial year ending 31 March 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.

Approved and authorised by the Board on 21 August 2024 and signed on its behalf by:
 

 

Balance Leisure Limited

trading as Balance Leisure Ltd

(Registration number: 12120732)
Balance Sheet as at 31 March 2024

.........................................
G English
Director

.........................................
T English
Director

 

Balance Leisure Limited

trading as Balance Leisure Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
3 Selworthy
Furzton
Milton Keynes
MK4 1HA

These financial statements were authorised for issue by the Board on 21 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 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 as the company's parent undertaking has indicated continued financial support for the foreseeable future.

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.

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.

 

Balance Leisure Limited

trading as Balance Leisure Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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. 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 2 (2023 - 2).

 

Balance Leisure Limited

trading as Balance Leisure Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Stocks

2024
£

2023
£

Other inventories

1,791

2,061

5

Debtors

2024
£

2023
£

Trade debtors

189

67

Other debtors

1,767

76

1,956

143

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

24,204

9,031

Amounts owed to group undertakings and undertakings in which the company has a participating interest

252,213

162,213

Accruals and deferred income

 

13,222

11,396

 

289,639

182,640

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Parent and ultimate parent undertaking

The company's immediate parent is GT English Enterprise Limited, incorporated in England.