Silverfin false false 31/12/2023 01/01/2023 31/12/2023 R J Clarke 09/06/1999 10 September 2024 The principal activity of the Company during the financial year was that of a health and fitness club. 03785618 2023-12-31 03785618 bus:Director1 2023-12-31 03785618 2022-12-31 03785618 core:CurrentFinancialInstruments 2023-12-31 03785618 core:CurrentFinancialInstruments 2022-12-31 03785618 core:Non-currentFinancialInstruments 2023-12-31 03785618 core:Non-currentFinancialInstruments 2022-12-31 03785618 core:ShareCapital 2023-12-31 03785618 core:ShareCapital 2022-12-31 03785618 core:RetainedEarningsAccumulatedLosses 2023-12-31 03785618 core:RetainedEarningsAccumulatedLosses 2022-12-31 03785618 core:LandBuildings 2022-12-31 03785618 core:LeaseholdImprovements 2022-12-31 03785618 core:PlantMachinery 2022-12-31 03785618 core:LandBuildings 2023-12-31 03785618 core:LeaseholdImprovements 2023-12-31 03785618 core:PlantMachinery 2023-12-31 03785618 2023-01-01 2023-12-31 03785618 bus:FilletedAccounts 2023-01-01 2023-12-31 03785618 bus:SmallEntities 2023-01-01 2023-12-31 03785618 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03785618 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03785618 bus:Director1 2023-01-01 2023-12-31 03785618 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 03785618 core:LeaseholdImprovements core:TopRangeValue 2023-01-01 2023-12-31 03785618 core:PlantMachinery 2023-01-01 2023-12-31 03785618 2022-01-01 2022-12-31 03785618 core:LandBuildings 2023-01-01 2023-12-31 03785618 core:LeaseholdImprovements 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 03785618 (England and Wales)

BODYWISE HEALTH & FITNESS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

BODYWISE HEALTH & FITNESS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

BODYWISE HEALTH & FITNESS LIMITED

BALANCE SHEET

As at 31 December 2023
BODYWISE HEALTH & FITNESS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 255,627 263,496
Investment property 4 0 370,060
255,627 633,556
Current assets
Debtors 5 264,880 12,157
Cash at bank and in hand 79,693 11,659
344,573 23,816
Creditors: amounts falling due within one year 6 ( 117,709) ( 176,592)
Net current assets/(liabilities) 226,864 (152,776)
Total assets less current liabilities 482,491 480,780
Creditors: amounts falling due after more than one year 7 ( 25,051) ( 28,654)
Net assets 457,440 452,126
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account 456,440 451,126
Total shareholder's funds 457,440 452,126

For the financial year ending 31 December 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 financial statements of Bodywise Health & Fitness Limited (registered number: 03785618) were approved and authorised for issue by the Director on 10 September 2024. They were signed on its behalf by:

R J Clarke
Director
BODYWISE HEALTH & FITNESS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
BODYWISE HEALTH & FITNESS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bodywise Health & Fitness Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Cleve, Mantle Street, Wellington, TA21 8SN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for office space rentals and leisure services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Leasehold improvements 10 years straight line
Plant and machinery 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 5 6

3. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Total
£ £ £ £
Cost
At 01 January 2023 386,826 311,232 22,293 720,351
At 31 December 2023 386,826 311,232 22,293 720,351
Accumulated depreciation
At 01 January 2023 123,857 311,232 21,766 456,855
Charge for the financial year 7,737 0 132 7,869
At 31 December 2023 131,594 311,232 21,898 464,724
Net book value
At 31 December 2023 255,232 0 395 255,627
At 31 December 2022 262,969 0 527 263,496

4. Investment property

Investment property
£
Valuation
As at 01 January 2023 370,060
Disposals (370,060)
As at 31 December 2023 0

Valuation

Investment properties were revalued at 31 December 2022 by the director who is internal to the company. The basis of this valuation was open market value. The historical cost of the investment properties at 31 December 2023 was £Nil (2022: £370,060).
There was no valuation of investment property by an independent valuer.

5. Debtors

2023 2022
£ £
Other debtors 264,880 12,157

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 3,606 3,520
Trade creditors 17 48
Taxation and social security 7,344 17,949
Other creditors 106,742 155,075
117,709 176,592

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 25,051 28,654