20/20 Fitness Hire Limited 10103014 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is sports equipment rental. Digita Accounts Production Advanced 6.30.9574.0 true 10103014 2023-05-01 2024-04-30 10103014 2024-04-30 10103014 bus:OrdinaryShareClass1 2024-04-30 10103014 core:CurrentFinancialInstruments 2024-04-30 10103014 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 10103014 core:FurnitureFittingsToolsEquipment 2024-04-30 10103014 core:MotorVehicles 2024-04-30 10103014 core:OtherPropertyPlantEquipment 2024-04-30 10103014 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-04-30 10103014 bus:SmallEntities 2023-05-01 2024-04-30 10103014 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10103014 bus:FullAccounts 2023-05-01 2024-04-30 10103014 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 10103014 bus:RegisteredOffice 2023-05-01 2024-04-30 10103014 bus:Director1 2023-05-01 2024-04-30 10103014 bus:Director2 2023-05-01 2024-04-30 10103014 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 10103014 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10103014 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 10103014 core:MotorVehicles 2023-05-01 2024-04-30 10103014 core:OfficeEquipment 2023-05-01 2024-04-30 10103014 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 10103014 core:PlantMachinery 2023-05-01 2024-04-30 10103014 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-01 2024-04-30 10103014 countries:EnglandWales 2023-05-01 2024-04-30 10103014 2023-04-30 10103014 core:FurnitureFittingsToolsEquipment 2023-04-30 10103014 core:MotorVehicles 2023-04-30 10103014 core:OtherPropertyPlantEquipment 2023-04-30 10103014 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-30 10103014 2022-05-01 2023-04-30 10103014 2023-04-30 10103014 bus:OrdinaryShareClass1 2023-04-30 10103014 core:CurrentFinancialInstruments 2023-04-30 10103014 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 10103014 core:FurnitureFittingsToolsEquipment 2023-04-30 10103014 core:MotorVehicles 2023-04-30 10103014 core:OtherPropertyPlantEquipment 2023-04-30 10103014 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-30 10103014 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-05-01 2023-04-30 10103014 2022-04-30 10103014 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10103014

20/20 Fitness Hire Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

20/20 Fitness Hire Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

20/20 Fitness Hire Limited

Company Information

Directors

Mr V D Lye

Mrs K E Lye

Registered office

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

20/20 Fitness Hire Limited

(Registration number: 10103014)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

25,467

17,110

Current assets

 

Debtors

4

17,151

12,621

Cash at bank and in hand

 

47,066

97,423

 

64,217

110,044

Creditors: Amounts falling due within one year

5

(38,041)

(19,584)

Net current assets

 

26,176

90,460

Total assets less current liabilities

 

51,643

107,570

Provisions for liabilities

(4,160)

(2,307)

Net assets

 

47,483

105,263

Capital and reserves

 

Called up share capital

6

20

20

Retained earnings

47,463

105,243

Shareholders' funds

 

47,483

105,263

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

20/20 Fitness Hire Limited

(Registration number: 10103014)
Balance Sheet as at 30 April 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 January 2025 and signed on its behalf by:
 

.........................................
Mr V D Lye
Director

 

20/20 Fitness Hire Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

20/20 Fitness Hire Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Gym equipment

25% straight line

Motor vehicles

25% reducing balance

Office equipment

33.3% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

20/20 Fitness Hire Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

809

17,600

71,607

90,016

Additions

285

13,100

9,157

22,542

Disposals

-

-

(2,000)

(2,000)

At 30 April 2024

1,094

30,700

78,764

110,558

Depreciation

At 1 May 2023

809

14,467

57,630

72,906

Charge for the year

95

4,058

8,532

12,685

Eliminated on disposal

-

-

(500)

(500)

At 30 April 2024

904

18,525

65,662

85,091

Carrying amount

At 30 April 2024

190

12,175

13,102

25,467

At 30 April 2023

-

3,133

13,977

17,110

 

20/20 Fitness Hire Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

4

Debtors

Current

2024
£

2023
£

Trade debtors

1,548

2,688

Prepayments

687

730

Other debtors

14,916

9,203

 

17,151

12,621

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

357

92

Taxation and social security

12,322

12,624

Accruals and deferred income

5,604

2,974

Other creditors

19,758

3,894

38,041

19,584

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

20

20

20

20

         
 

20/20 Fitness Hire Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

7

Related party transactions

Loans from related parties

2024

Key management
£

Total
£

At start of period

3,895

3,895

Advanced

18,672

18,672

Repaid

(4,320)

(4,320)

At end of period

18,247

18,247

2023

Key management
£

Total
£

At start of period

2,171

2,171

Advanced

4,468

4,468

Repaid

(2,744)

(2,744)

At end of period

3,895

3,895