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REGISTERED NUMBER: SC475868 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Itz Training Limited

Itz Training Limited (Registered number: SC475868)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Itz Training Limited (Registered number: SC475868)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 22,444 22,008

CURRENT ASSETS
Debtors 5 5,000 6,167
Cash at bank 537 10,950
5,537 17,117
CREDITORS
Amounts falling due within one year 6 (74,985 ) (78,102 )
NET CURRENT LIABILITIES (69,448 ) (60,985 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(47,004

)

(38,977

)

CREDITORS
Amounts falling due after more than one
year

7

(13,227

)

(21,010

)
NET LIABILITIES (60,231 ) (59,987 )

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings (60,261 ) (60,017 )
SHAREHOLDERS' FUNDS (60,231 ) (59,987 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Itz Training Limited (Registered number: SC475868)

Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 January 2025 and were signed by:





Ms L Duchart - Director


Itz Training Limited (Registered number: SC475868)

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

1. STATUTORY INFORMATION

ITZ Training Limited is a private company, limited by shares, domiciled in Scotland, registration number SC475868. The registered office is 5 Borrowmead Road, Springkerse Industrial Estate, Stirlingshire, FK7 7UW.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

During the year the company made a loss of £244 and at the balance sheet date its current liabilities exceeded its current assets by £69,448. The company meets its day to day working capital requirements through the continued support of the other loan funding.. With this continued support the directors are confident that the company will meet its cash flow requirements. The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

Turnover
Turnover represents net invoiced sales of goods and services in respect of the operation of fitness leisure facilities excluding value added tax. Sales are recognised at the point at which the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Itz Training Limited (Registered number: SC475868)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 50,826 14,507 1,398 66,731
Additions 6,429 - - 6,429
At 30 April 2024 57,255 14,507 1,398 73,160
DEPRECIATION
At 1 May 2023 30,705 12,682 1,336 44,723
Charge for year 5,475 456 62 5,993
At 30 April 2024 36,180 13,138 1,398 50,716
NET BOOK VALUE
At 30 April 2024 21,075 1,369 - 22,444
At 30 April 2023 20,121 1,825 62 22,008

Itz Training Limited (Registered number: SC475868)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Plant and
machinery
£   
COST
At 1 May 2023
and 30 April 2024 14,589
DEPRECIATION
At 1 May 2023 1,709
Charge for year 3,220
At 30 April 2024 4,929
NET BOOK VALUE
At 30 April 2024 9,660
At 30 April 2023 12,880

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 5,000 6,167

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 5,112 4,986
Finance leases 2,506 2,918
Trade creditors 11,614 8,220
Taxation and social security 7,346 7,563
Other creditors 48,407 54,415
74,985 78,102

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 5,685 10,798
Finance leases 7,542 10,212
13,227 21,010

Itz Training Limited (Registered number: SC475868)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Finance leases 10,048 13,130

Finance leases are secured on the assets to which they relate.