PJ FIT Ltd 11939799 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is Gym - fitness facilities Digita Accounts Production Advanced 6.30.9574.0 true 11939799 2023-05-01 2024-04-30 11939799 2024-04-30 11939799 core:CurrentFinancialInstruments 2024-04-30 11939799 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 11939799 core:BetweenTwoFiveYears 2024-04-30 11939799 core:WithinOneYear 2024-04-30 11939799 core:FurnitureFittings 2024-04-30 11939799 core:OfficeEquipment 2024-04-30 11939799 core:PlantMachinery 2024-04-30 11939799 bus:SmallEntities 2023-05-01 2024-04-30 11939799 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 11939799 bus:FilletedAccounts 2023-05-01 2024-04-30 11939799 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 11939799 bus:RegisteredOffice 2023-05-01 2024-04-30 11939799 bus:Director1 2023-05-01 2024-04-30 11939799 bus:Director2 2023-05-01 2024-04-30 11939799 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11939799 core:FurnitureFittings 2023-05-01 2024-04-30 11939799 core:OfficeEquipment 2023-05-01 2024-04-30 11939799 core:PlantMachinery 2023-05-01 2024-04-30 11939799 countries:AllCountries 2023-05-01 2024-04-30 11939799 2023-04-30 11939799 core:FurnitureFittings 2023-04-30 11939799 core:OfficeEquipment 2023-04-30 11939799 core:PlantMachinery 2023-04-30 11939799 2022-05-01 2023-04-30 11939799 2023-04-30 11939799 core:CurrentFinancialInstruments 2023-04-30 11939799 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 11939799 core:BetweenTwoFiveYears 2023-04-30 11939799 core:WithinOneYear 2023-04-30 11939799 core:FurnitureFittings 2023-04-30 11939799 core:OfficeEquipment 2023-04-30 11939799 core:PlantMachinery 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 11939799

PJ FIT Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

PJ FIT Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

PJ FIT Ltd

Company Information

Directors

Mr P H S Heaton

Mr J Thompson

Registered office

York House Mill Lane
Charnock Richard
Chorley
PR7 5LQ

Accountants

Rotherham Taylor Limited
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

PJ FIT Ltd

(Registration number: 11939799)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

16,093

20,891

Current assets

 

Debtors

5

4,742

3,775

Cash at bank and in hand

 

15,374

26,045

 

20,116

29,820

Creditors: Amounts falling due within one year

6

(32,516)

(32,659)

Net current liabilities

 

(12,400)

(2,839)

Total assets less current liabilities

 

3,693

18,052

Provisions for liabilities

(3,058)

(3,969)

Net assets

 

635

14,083

Capital and reserves

 

Called up share capital

2

2

Retained earnings

633

14,081

Shareholders' funds

 

635

14,083

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.

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.

 

PJ FIT Ltd

(Registration number: 11939799)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 16 January 2025 and signed on its behalf by:
 

.........................................
Mr P H S Heaton
Director

.........................................
Mr J Thompson
Director

 
     
 

PJ FIT Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England/Wales.

The address of its registered office is:
York House Mill Lane
Charnock Richard
Chorley
PR7 5LQ

2

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.

 

PJ FIT Ltd

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

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.

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

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

Fixtures and fittings

25% reducing balance

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.

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.

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.

 

PJ FIT Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

 

PJ FIT Ltd

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

3,422

50,489

1,341

55,252

Additions

-

700

152

852

At 30 April 2024

3,422

51,189

1,493

56,104

Depreciation

At 1 May 2023

856

32,541

964

34,361

Charge for the year

855

4,662

133

5,650

At 30 April 2024

1,711

37,203

1,097

40,011

Carrying amount

At 30 April 2024

1,711

13,986

396

16,093

At 30 April 2023

2,566

17,948

377

20,891

5

Debtors

Current

2024
£

2023
£

Prepayments

3,966

3,001

Other debtors

776

774

 

4,742

3,775

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

26,779

23,507

Trade creditors

 

897

1,023

Taxation and social security

 

4,502

8,087

Accruals and deferred income

 

338

42

 

32,516

32,659

 

PJ FIT Ltd

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

7

Loans and borrowings

Current Loans and borrowings

2024
£

2023
£

Directors' loan account

26,779

23,507

The directors' loan accounts are non-interest bearing and have no formal repayment terms.

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

6,660

7,992

Later than one year and not later than five years

-

6,660

6,660

14,652

The amount of non-cancellable operating lease payments recognised as an expense during the year was £7,319 (2023 - £12,465).