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Registered number: 10531951
Ticktock Fitness Limited
Financial Statements
For The Year Ended 31 December 2024
Ingenious Accountants Ltd
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10531951
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 25,137 27,710
25,137 27,710
CURRENT ASSETS
Debtors 5 14,350 7,210
Cash at bank and in hand 9,705 10,922
24,055 18,132
Creditors: Amounts Falling Due Within One Year 6 (190,285 ) (200,094 )
NET CURRENT ASSETS (LIABILITIES) (166,230 ) (181,962 )
TOTAL ASSETS LESS CURRENT LIABILITIES (141,093 ) (154,252 )
Creditors: Amounts Falling Due After More Than One Year 7 (13,809 ) (16,936 )
NET LIABILITIES (154,902 ) (171,188 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (154,904 ) (171,190 )
SHAREHOLDERS' FUNDS (154,902) (171,188)
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Leon Chee-a-Tow
Director
19th January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ticktock Fitness Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10531951 . The registered office is 44 Waterhall Close, London, E17 5PS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 6yrs straight line
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 1)
3 1
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 34,079 5,639 1,678 41,396
Additions 2,369 2,850 - 5,219
As at 31 December 2024 36,448 8,489 1,678 46,615
Depreciation
As at 1 January 2024 11,849 1,407 430 13,686
Provided during the period 5,725 1,647 420 7,792
As at 31 December 2024 17,574 3,054 850 21,478
Net Book Value
As at 31 December 2024 18,874 5,435 828 25,137
As at 1 January 2024 22,230 4,232 1,248 27,710
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5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 4,230 3,185
Other debtors 6,099 -
Other taxes and social security 21 -
Net wages - 25
10,350 3,210
Due after more than one year
Other debtors 4,000 4,000
4,000 4,000
14,350 7,210
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 3,127 3,206
VAT 4,936 4,309
Other creditors - 44
Accruals and deferred income 2,239 2,359
Director's loan account 179,983 190,176
190,285 200,094
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,809 16,936
13,809 16,936
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4