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Registered number: 11271410
Sean Armstrong Fitness Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
KFH Accounting Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11271410
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,290 16,408
21,290 16,408
CURRENT ASSETS
Debtors 5,435 5,378
Cash at bank and in hand 23,994 29,773
29,429 35,151
Creditors: Amounts Falling Due Within One Year (36,987 ) (34,829 )
NET CURRENT ASSETS (LIABILITIES) (7,558 ) 322
TOTAL ASSETS LESS CURRENT LIABILITIES 13,732 16,730
Creditors: Amounts Falling Due After More Than One Year (3,000 ) (5,000 )
NET ASSETS 10,732 11,730
CAPITAL AND RESERVES
Called up share capital 5 5 5
Profit and Loss Account 10,727 11,725
SHAREHOLDERS' FUNDS 10,732 11,730
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Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Sean Armstrong
Director
15/08/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Sean Armstrong Fitness Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11271410 . The registered office is 8f West Chirton North Industrial Estate, North Shields, NE29 8SD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 5 years straightline
Fixtures & Fittings 3 years straightline
Computer Equipment 3 years straightline
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Sales, marketing and distribution 3 3
3 3
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 61,760 8,353 5,938 76,051
Additions 15,106 - - 15,106
Disposals (233 ) - - (233 )
As at 31 March 2024 76,633 8,353 5,938 90,924
...CONTINUED
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Depreciation
As at 1 April 2023 46,206 8,051 5,386 59,643
Provided during the period 9,399 302 290 9,991
As at 31 March 2024 55,605 8,353 5,676 69,634
Net Book Value
As at 31 March 2024 21,028 - 262 21,290
As at 1 April 2023 15,554 302 552 16,408
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5 5
6. Additional note to the accounts
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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