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REGISTERED NUMBER: 11565022 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

LILLEY FITNESS LTD

LILLEY FITNESS LTD (REGISTERED NUMBER: 11565022)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LILLEY FITNESS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: E M Lilley
J Cassar-Pullicino





REGISTERED OFFICE: 112 Chapel Street
Salford
Greater Manchester
M3 5DW





REGISTERED NUMBER: 11565022 (England and Wales)





ACCOUNTANTS: Sedulo Accountants Limited
Chartered Certified Accountants
62-66 Deansgate
Manchester
M3 2EN

LILLEY FITNESS LTD (REGISTERED NUMBER: 11565022)

BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,401 14,801
Tangible assets 5 144,880 177,023
152,281 191,824

CURRENT ASSETS
Debtors 6 15,000 15,000
Cash at bank 45,962 43,057
60,962 58,057
CREDITORS
Amounts falling due within one year 7 59,546 58,553
NET CURRENT ASSETS/(LIABILITIES) 1,416 (496 )
TOTAL ASSETS LESS CURRENT LIABILITIES 153,697 191,328

CREDITORS
Amounts falling due after more than one
year

8

243,670

292,012
NET LIABILITIES (89,973 ) (100,684 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (89,974 ) (100,685 )
(89,973 ) (100,684 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LILLEY FITNESS LTD (REGISTERED NUMBER: 11565022)

BALANCE SHEET - continued
30 SEPTEMBER 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 18 July 2024 and were signed on its behalf by:




E M Lilley - Director



J Cassar-Pullicino - Director


LILLEY FITNESS LTD (REGISTERED NUMBER: 11565022)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Lilley Fitness Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 20% on cost

LILLEY FITNESS LTD (REGISTERED NUMBER: 11565022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial statements.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial asserts classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less, if not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


LILLEY FITNESS LTD (REGISTERED NUMBER: 11565022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Going concern
These accounts are being prepared on the going concern basis, on the understanding that the shareholders will continue to financially support the company.

After reviewing the forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

The directors believe that preparing the financial statements on the going concern basis is appropriate due to the continued financial support of the directors. The Board of Directors confirms their assumption that no significant uncertainty exists in this respect.

At the time of signing these accounts the Directors are of the opinion that the Company will remain viable for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 2 ).

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 October 2022
and 30 September 2023 37,001
AMORTISATION
At 1 October 2022 22,200
Amortisation for year 7,400
At 30 September 2023 29,600
NET BOOK VALUE
At 30 September 2023 7,401
At 30 September 2022 14,801

LILLEY FITNESS LTD (REGISTERED NUMBER: 11565022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


5. TANGIBLE FIXED ASSETS
Short Plant and
leasehold machinery Totals
£    £    £   
COST
At 1 October 2022 179,704 86,668 266,372
Additions - 3,524 3,524
At 30 September 2023 179,704 90,192 269,896
DEPRECIATION
At 1 October 2022 44,244 45,105 89,349
Charge for year 17,970 17,697 35,667
At 30 September 2023 62,214 62,802 125,016
NET BOOK VALUE
At 30 September 2023 117,490 27,390 144,880
At 30 September 2022 135,460 41,563 177,023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Other debtors 15,000 15,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 11,125 8,433
Other creditors 38,421 40,120
59,546 58,553

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans 16,667 26,667
Other creditors 227,003 265,345
243,670 292,012

LILLEY FITNESS LTD (REGISTERED NUMBER: 11565022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is an amount owed to the directors of £32,990 (2022: £36,614).

Included within other creditors greater than one year is an amount owed to the directors of £227,003 (2022: £265,345).

These loans are interest free with no fixed repayment terms.