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Company Registration No. 10905725 (England and Wales)
LUXE FITNESS SW LTD Unaudited accounts for the year ended 31 August 2024
LUXE FITNESS SW LTD Unaudited accounts Contents
Page
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LUXE FITNESS SW LTD Company Information for the year ended 31 August 2024
Directors
P Narendran J McMahon
Company Number
10905725 (England and Wales)
Registered Office
UNITS 1 - 3 BEACON TOWER BRISTOL BS1 4UB ENGLAND
Accountants
FARQUHAR PARTNERSHIP LIMITED 151 WHITELADIES ROAD CLIFTON BRISTOL BS8 2RA
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LUXE FITNESS SW LTD Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
296,185 
117,296 
Tangible assets
2,504,436 
1,941,135 
2,800,621 
2,058,431 
Current assets
Inventories
181,749 
33,896 
Debtors
120,298 
101,376 
Cash at bank and in hand
21,280 
34,797 
323,327 
170,069 
Creditors: amounts falling due within one year
(381,047)
(386,528)
Net current liabilities
(57,720)
(216,459)
Total assets less current liabilities
2,742,901 
1,841,972 
Creditors: amounts falling due after more than one year
(953,031)
(1,793,395)
Provisions for liabilities
Deferred tax
(73,024)
(42,669)
Net assets
1,716,846 
5,908 
Capital and reserves
Called up share capital
654,900 
4,900 
Revaluation reserve
820,000 
- 
Profit and loss account
241,946 
1,008 
Shareholders' funds
1,716,846 
5,908 
For the year ending 31 August 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by
P Narendran Director Company Registration No. 10905725
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LUXE FITNESS SW LTD Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
LUXE FITNESS SW LTD is a private company, limited by shares, registered in England and Wales, registration number 10905725. The registered office is UNITS 1 - 3 BEACON TOWER, BRISTOL, BS1 4UB, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
6% and 7% on cost
Plant & machinery
10% and 20% straight line
Fixtures & fittings
20% straight line
Computer equipment
33.33% straight line
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation. Amortisation will begin upon completion of the intangible fixed asset.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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LUXE FITNESS SW LTD Notes to the Accounts for the year ended 31 August 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred taxation
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 accounts. 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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 September 2023
117,296 
Additions
178,889 
At 31 August 2024
296,185 
Amortisation
At 1 September 2023
- 
At 31 August 2024
- 
Net book value
At 31 August 2024
296,185 
At 31 August 2023
117,296 
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LUXE FITNESS SW LTD Notes to the Accounts for the year ended 31 August 2024
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 September 2023
1,043,093 
1,444,637 
26,347 
17,922 
2,531,999 
Additions
832,604 
20,889 
- 
2,297 
855,790 
At 31 August 2024
1,875,697 
1,465,526 
26,347 
20,219 
3,387,789 
Depreciation
At 1 September 2023
199,182 
369,554 
15,360 
6,768 
590,864 
Charge for the year
62,245 
219,409 
5,269 
5,566 
292,489 
At 31 August 2024
261,427 
588,963 
20,629 
12,334 
883,353 
Net book value
At 31 August 2024
1,614,270 
876,563 
5,718 
7,885 
2,504,436 
At 31 August 2023
843,911 
1,075,083 
10,987 
11,154 
1,941,135 
6
Inventories
2024 
2023 
£ 
£ 
Raw materials
23,433 
18,870 
Work in progress
158,316 
15,026 
181,749 
33,896 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,127 
1,175 
Accrued income and prepayments
79,574 
25,623 
Other debtors
1,347 
68,328 
84,048 
95,126 
Amounts falling due after more than one year
Other debtors
36,250 
6,250 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Obligations under finance leases and hire purchase contracts
139,689 
158,254 
Trade creditors
184,726 
136,174 
Taxes and social security
24,070 
46,409 
Other creditors
1,628 
1,911 
Accruals
20,934 
33,780 
381,047 
386,528 
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LUXE FITNESS SW LTD Notes to the Accounts for the year ended 31 August 2024
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
8,333 
18,333 
Obligations under finance leases and hire purchase contracts
356,615 
489,789 
Amounts owed to group undertakings and other participating interests
588,083 
1,285,273 
953,031 
1,793,395 
10
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
198,077 
249,004 
Tax losses carried forward
(124,931)
(206,222)
Other deferred taxation
(122)
(113)
73,024 
42,669 
2024 
2023 
£ 
£ 
Provision at start of year
42,669 
(25,902)
Charged to the profit and loss account
30,355 
68,571 
Provision at end of year
73,024 
42,669 
11
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
6,549,000 Ordinary shares of £0.10 each
654,900 
4,900 
Shares issued during the period:
6,500,000 Ordinary shares of £0.10 each
650,000 
12
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 August 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
137,436 
139,290 
Later than one year and not later than five years
609,248 
601,184 
Later than five years
551,667 
697,167 
1,298,351 
1,437,641 
13
Controlling party
The parent undertaking is Alphabet Gym Ltd whose registered office is Units 1 - 3 Beacon Tower, Bristol, England, BS1 4UB.
14
Average number of employees
During the year the average number of employees was 26 (2023: 22).
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