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Registered number: 08862421
London Road Health And Fitness Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Pennywise Accounting ltd
ICAEW
Dickhurst House
Rodgate Lane
Haslemere
Surrey
GU27 2EW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08862421
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 722 977
Tangible Assets 5 4,729 555
5,451 1,532
CURRENT ASSETS
Debtors 6 29,876 25,387
Cash at bank and in hand 20,801 14,257
50,677 39,644
Creditors: Amounts Falling Due Within One Year 7 (76,002 ) (65,519 )
NET CURRENT ASSETS (LIABILITIES) (25,325 ) (25,875 )
TOTAL ASSETS LESS CURRENT LIABILITIES (19,874 ) (24,343 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,148 ) (407 )
NET LIABILITIES (22,022 ) (24,750 )
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account (22,032 ) (24,760 )
SHAREHOLDERS' FUNDS (22,022) (24,750)
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Ms Lizelle Gerber
Director
30th May 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
London Road Health And Fitness Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08862421 . The registered office is 21-23 London Road, Hindhead, Surrey, GU26 6AB.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are development costs It is amortised to profit and loss account over its estimated economic life of 4 years.
2.4. 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:
Leasehold over the term of the lease
Plant & Machinery straight line basis over four years
Fixtures & Fittings straight line basis over four years
Computer Equipment straight line basis over three years
Development costs are being amortised evenly over their estimated useful life of four years.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 year 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred 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 and deferred 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: 3 (2023: 3)
3 3
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4. Intangible Assets
Other
£
Cost
As at 1 February 2023 10,686
As at 31 January 2024 10,686
Amortisation
As at 1 February 2023 9,709
Provided during the period 255
As at 31 January 2024 9,964
Net Book Value
As at 31 January 2024 722
As at 1 February 2023 977
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2023 28,186 12,621 8,295 950 50,052
Additions 603 6,919 - 540 8,062
Transfers - 283 - 1,049 1,332
As at 31 January 2024 28,789 19,823 8,295 2,539 59,446
Depreciation
As at 1 February 2023 28,186 12,369 8,225 717 49,497
Provided during the period 10 3,577 149 152 3,888
Transfers - 283 - 1,049 1,332
As at 31 January 2024 28,196 16,229 8,374 1,918 54,717
Net Book Value
As at 31 January 2024 593 3,594 (79 ) 621 4,729
As at 1 February 2023 - 252 70 233 555
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,849 1,688
Corporation tax recoverable assets - 421
Amounts owed by other participating interests - (2)
1,849 2,107
Due after more than one year
Amounts owed by other participating interests 28,027 23,280
29,876 25,387
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 1,570 1,274
Accruals and deferred income 26,091 21,216
Directors' loan accounts 48,341 43,029
76,002 65,519
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 5