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REGISTERED NUMBER: 08426418 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Phil Gough Health & Fitness Ltd

Phil Gough Health & Fitness Ltd (Registered number: 08426418)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Phil Gough Health & Fitness Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: P A Gough





REGISTERED OFFICE: G8 Lynch Lane Offices
79 Lynch Lane
Weymouth
Dorset
DT4 9DN





REGISTERED NUMBER: 08426418 (England and Wales)





ACCOUNTANTS: RWB Tax Consultants Limited
G8 Lynch Lane Offices
79 Lynch Lane
Weymouth
Dorset
DT4 9DN

Phil Gough Health & Fitness Ltd (Registered number: 08426418)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 31,739 32,262
31,739 32,262

CURRENT ASSETS
Stocks 6 490 500
Debtors 7 9,147 5,500
Cash at bank 64,921 60,387
74,558 66,387
CREDITORS
Amounts falling due within one year 8 58,236 59,203
NET CURRENT ASSETS 16,322 7,184
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,061

39,446

PROVISIONS FOR LIABILITIES 8,410 6,130
NET ASSETS 39,651 33,316

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 39,551 33,216
SHAREHOLDERS' FUNDS 39,651 33,316

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Phil Gough Health & Fitness Ltd (Registered number: 08426418)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 9 October 2024 and were signed by:





P A Gough - Director


Phil Gough Health & Fitness Ltd (Registered number: 08426418)

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

1. STATUTORY INFORMATION

Phil Gough Health & 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.

Turnover
Turnover represents gross invoiced sales of fitness instruction and nutritional supplements, net of VAT paid under the flat rate scheme.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Gym equipment - 10% on reducing balance
Office equipment - 10% on reducing balance
Computer equipment - 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Phil Gough Health & Fitness Ltd (Registered number: 08426418)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 8,000
AMORTISATION
At 1 April 2023
and 31 March 2024 8,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Gym Office Computer
equipment equipment equipment Totals
£    £    £    £   
COST
At 1 April 2023 56,862 4,621 8,857 70,340
Additions 3,004 - - 3,004
At 31 March 2024 59,866 4,621 8,857 73,344
DEPRECIATION
At 1 April 2023 28,568 4,201 5,309 38,078
Charge for year 3,130 42 355 3,527
At 31 March 2024 31,698 4,243 5,664 41,605
NET BOOK VALUE
At 31 March 2024 28,168 378 3,193 31,739
At 31 March 2023 28,294 420 3,548 32,262

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 490 500

Phil Gough Health & Fitness Ltd (Registered number: 08426418)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 5,500 5,500
Prepayments 3,647 -
9,147 5,500

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 25,122 29,090
Tax 13,113 8,903
Social security and other taxes 861 1,044
Wages Control - 165
Pension Control 197 -
VAT 5,976 4,541
Directors' current accounts 11,867 14,460
Accrued expenses 1,100 1,000
58,236 59,203

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
75 Ordinary A £1 75 75
25 Ordinary B £1 25 25
100 100

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P A Gough.