Company Registration No. SC498152 (Scotland)
Limitless Fitness & Martial Arts Ltd
Unaudited accounts
for the year ended 31 March 2024
Limitless Fitness & Martial Arts Ltd
Unaudited accounts
Contents
Limitless Fitness & Martial Arts Ltd
Company Information
for the year ended 31 March 2024
Directors
James Francis Tully
James Tully
Company Number
SC498152 (Scotland)
Accountants
WBG Accounting Services
56 Ashgillhead Road
Larkhall
Larkhall
ML9 3AE
Limitless Fitness & Martial Arts Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
73,822
59,659
Cash at bank and in hand
2,296
39,818
Creditors: amounts falling due within one year
(153,329)
(85,299)
Net current liabilities
(38,702)
(25,684)
Total assets less current liabilities
35,120
33,975
Creditors: amounts falling due after more than one year
156,890
41,669
Provisions for liabilities
Deferred tax
(11,336)
(11,336)
Called up share capital
100
100
Profit and loss account
180,574
64,208
Shareholders' funds
180,674
64,308
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 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
James Tully
Director
Company Registration No. SC498152
Limitless Fitness & Martial Arts Ltd
Notes to the Accounts
for the year ended 31 March 2024
Limitless Fitness & Martial Arts Ltd is a private company, limited by shares, registered in Scotland, registration number SC498152.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant & machinery
20% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Computer equipment
20% Reducing Balance
4
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 April 2023
-
116,732
7,555
3,540
127,827
Additions
10,000
15,823
-
-
25,823
At 31 March 2024
10,000
132,555
7,555
3,540
153,650
At 1 April 2023
-
65,019
2,096
1,053
68,168
Charge for the year
-
10,343
819
498
11,660
At 31 March 2024
-
75,362
2,915
1,551
79,828
At 31 March 2024
10,000
57,193
4,640
1,989
73,822
At 31 March 2023
-
51,713
5,459
2,487
59,659
Amounts falling due within one year
Other debtors
112,331
19,797
Limitless Fitness & Martial Arts Ltd
Notes to the Accounts
for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,692
10,692
Taxes and social security
22,278
41,937
7
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
(192,849)
(101,890)
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).