Company registration number 04498390 (England and Wales)
Consort Fitness Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
Consort Fitness Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Consort Fitness Limited
Statement Of Financial Position
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
3,244
4,055
Tangible assets
4
8,025
15,047
11,269
19,102
Current assets
Stocks
646
646
Cash at bank and in hand
37,287
48,004
37,933
48,650
Creditors: amounts falling due within one year
5
(53,435)
(82,116)
Net current liabilities
(15,502)
(33,466)
Total assets less current liabilities
(4,233)
(14,364)
Creditors: amounts falling due after more than one year
6
(27,688)
(36,688)
Net liabilities
(31,921)
(51,052)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(32,021)
(51,152)
Total equity
(31,921)
(51,052)
Consort Fitness Limited
Statement Of Financial Position (continued)
as at 31 March 2024
- 2 -
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 16 September 2024
N P Halmshaw
Director
Company Registration No. 04498390
Consort Fitness Limited
Notes to the financial statements
for the year ended 31 March 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received for services provided in the normal course of business, and is shown net of VAT.
Turnover is recognised on the provision of services.
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
20% straight line
Plant and equipment
15% reducing balance
Motor vehicles
25% reducing balance
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.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Consort Fitness Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
8,110
Amortisation and impairment
At 1 April 2023
4,055
Amortisation charged for the year
811
At 31 March 2024
4,866
Carrying amount
At 31 March 2024
3,244
At 31 March 2023
4,055
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
5,739
93,435
9,500
108,674
Additions
1,028
1,028
At 31 March 2024
5,739
94,463
9,500
109,702
Depreciation and impairment
At 1 April 2023
5,739
85,513
2,375
93,627
Depreciation charged in the year
5,675
2,375
8,050
At 31 March 2024
5,739
91,188
4,750
101,677
Carrying amount
At 31 March 2024
3,275
4,750
8,025
At 31 March 2023
7,922
7,125
15,047
Consort Fitness Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loan
9,000
9,000
Trade creditors
1,085
10,086
Taxation and social security
53
Other creditors
41,797
61,530
Accruals
1,500
1,500
53,435
82,116
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loan
27,688
36,688
7
Company information
Consort Fitness Limited is a private company limited by shares incorporated in England and Wales. The registered office is Shelf Hall Lodge, Halifax Road, Shelf, Halifax, West Yorkshire, HX3 7NT.