IRIS Accounts Production v24.3.2.46 10381420 Board of Directors Board of Directors 1.10.23 30.9.24 30.9.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh103814202023-09-30103814202024-09-30103814202023-10-012024-09-30103814202022-09-30103814202022-10-012023-09-30103814202023-09-3010381420ns15:EnglandWales2023-10-012024-09-3010381420ns14:PoundSterling2023-10-012024-09-3010381420ns10:Director12023-10-012024-09-3010381420ns10:Director22023-10-012024-09-3010381420ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3010381420ns10:SmallEntities2023-10-012024-09-3010381420ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3010381420ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3010381420ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3010381420ns10:FullAccounts2023-10-012024-09-301038142012023-10-012024-09-3010381420ns10:RegisteredOffice2023-10-012024-09-3010381420ns5:CurrentFinancialInstruments2024-09-3010381420ns5:CurrentFinancialInstruments2023-09-3010381420ns5:ShareCapital2024-09-3010381420ns5:ShareCapital2023-09-3010381420ns5:RetainedEarningsAccumulatedLosses2024-09-3010381420ns5:RetainedEarningsAccumulatedLosses2023-09-3010381420ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-3010381420ns5:ComputerSoftware2023-10-012024-09-3010381420ns5:LeaseholdImprovements2023-10-012024-09-3010381420ns5:PlantMachinery2023-10-012024-09-3010381420ns5:FurnitureFittings2023-10-012024-09-3010381420ns5:MotorVehicles2023-10-012024-09-3010381420ns5:ComputerEquipment2023-10-012024-09-3010381420ns5:ComputerSoftware2024-09-3010381420ns5:LeaseholdImprovements2023-09-3010381420ns5:PlantMachinery2023-09-3010381420ns5:FurnitureFittings2023-09-3010381420ns5:LeaseholdImprovements2024-09-3010381420ns5:PlantMachinery2024-09-3010381420ns5:FurnitureFittings2024-09-3010381420ns5:LeaseholdImprovements2023-09-3010381420ns5:PlantMachinery2023-09-3010381420ns5:FurnitureFittings2023-09-3010381420ns5:MotorVehicles2023-09-3010381420ns5:ComputerEquipment2023-09-3010381420ns5:MotorVehicles2024-09-3010381420ns5:ComputerEquipment2024-09-3010381420ns5:MotorVehicles2023-09-3010381420ns5:ComputerEquipment2023-09-3010381420ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3010381420ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-30103814201ns10:Director12023-09-30103814201ns10:Director12022-09-30103814201ns10:Director12023-10-012024-09-30103814201ns10:Director12022-10-012023-09-30103814201ns10:Director12024-09-30103814201ns10:Director12023-09-3010381420ns10:Director222023-09-3010381420ns10:Director222022-09-3010381420ns10:Director222023-10-012024-09-3010381420ns10:Director222022-10-012023-09-3010381420ns10:Director222024-09-3010381420ns10:Director222023-09-30
REGISTERED NUMBER: 10381420 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 September 2024

for

F.i.t.123 Ltd

F.i.t.123 Ltd (Registered number: 10381420)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F.i.t.123 Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: S Gardener
L Gardener





REGISTERED OFFICE: Orchard Rise
Holberrow Green
Redditch
Worcestershire
B96 6SF





REGISTERED NUMBER: 10381420 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

F.i.t.123 Ltd (Registered number: 10381420)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,458 -
Tangible assets 5 124,980 118,191
126,438 118,191

CURRENT ASSETS
Debtors 6 275,229 197,274
Cash at bank 66,032 182,459
341,261 379,733
CREDITORS
Amounts falling due within one year 7 34,963 27,111
NET CURRENT ASSETS 306,298 352,622
TOTAL ASSETS LESS CURRENT
LIABILITIES

432,736

470,813

PROVISIONS FOR LIABILITIES 27,752 27,187
NET ASSETS 404,984 443,626

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 404,982 443,624
404,984 443,626

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

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

The directors acknowledge their 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.

F.i.t.123 Ltd (Registered number: 10381420)

Balance Sheet - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2024 and were signed on its behalf by:




L Gardener - Director



S Gardener - Director


F.i.t.123 Ltd (Registered number: 10381420)

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

1. STATUTORY INFORMATION

F.i.t.123 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Home Office - Straight line over 10 years
Plant and machinery - 20% on reducing balance
Office Equipment - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - Straight line over 3 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

F.i.t.123 Ltd (Registered number: 10381420)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
Additions 1,750
At 30 September 2024 1,750
AMORTISATION
Amortisation for year 292
At 30 September 2024 292
NET BOOK VALUE
At 30 September 2024 1,458

F.i.t.123 Ltd (Registered number: 10381420)

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

5. TANGIBLE FIXED ASSETS
Home Plant and Office
Office machinery Equipment
£    £    £   
COST
At 1 October 2023 5,580 8,335 4,390
Additions 1,390 2,076 -
Disposals - (357 ) -
At 30 September 2024 6,970 10,054 4,390
DEPRECIATION
At 1 October 2023 107 4,212 2,391
Charge for year 668 968 400
Eliminated on disposal - - -
At 30 September 2024 775 5,180 2,791
NET BOOK VALUE
At 30 September 2024 6,195 4,874 1,599
At 30 September 2023 5,473 4,123 1,999

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 181,066 3,137 202,508
Additions 33,999 1,971 39,436
Disposals (19,550 ) - (19,907 )
At 30 September 2024 195,515 5,108 222,037
DEPRECIATION
At 1 October 2023 75,809 1,798 84,317
Charge for year 25,663 1,379 29,078
Eliminated on disposal (16,338 ) - (16,338 )
At 30 September 2024 85,134 3,177 97,057
NET BOOK VALUE
At 30 September 2024 110,381 1,931 124,980
At 30 September 2023 105,257 1,339 118,191

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 58,120 57,328
Other debtors 16,262 39,432
Directors' current accounts 195,627 94,791
VAT 2,955 4,010
Prepayments 2,265 1,713
275,229 197,274

F.i.t.123 Ltd (Registered number: 10381420)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 5,985 4,764
Tax 19,759 15,309
Social security and other taxes 4,911 -
Other creditors 829 2,268
Accrued expenses 3,479 4,770
34,963 27,111

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
L Gardener
Balance outstanding at start of year 38,282 64,650
Amounts advanced 110,031 42,913
Amounts repaid (57,648 ) (69,281 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 90,665 38,282

S Gardener
Balance outstanding at start of year 56,511 65,340
Amounts advanced 105,868 58,249
Amounts repaid (57,417 ) (67,078 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 104,962 56,511

The above loan is charged interest at HMRC's approved rate and is to be repaid in full following the balance sheet date.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the directors by reason of their holding all the issued share capital in the company.