COMPANY REGISTRATION NUMBER:
14897335
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
31 May 2024
FIXED ASSETS
CURRENT ASSETS
Debtors |
6 |
10,489 |
|
Cash at bank and in hand |
4,357 |
|
|
-------- |
|
|
14,846 |
|
|
|
|
|
CREDITORS: amounts falling due within one year |
7 |
53,313 |
|
|
-------- |
|
NET CURRENT LIABILITIES |
|
38,467 |
|
|
-------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
(
10,660) |
|
|
-------- |
NET LIABILITIES |
|
(
10,660) |
|
|
-------- |
|
|
|
|
CAPITAL AND RESERVES
Called up share capital fully paid |
|
3 |
Profit and loss account |
|
(
10,663) |
|
|
-------- |
SHAREHOLDERS DEFICIT |
|
(
10,660) |
|
|
-------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 May 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 financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 May 2024
These financial statements were approved by the
board of directors
and authorised for issue on
19 February 2025
, and are signed on behalf of the board by:
Company registration number:
14897335
NOTES TO THE FINANCIAL STATEMENTS |
|
PERIOD FROM 26 MAY 2023 TO 31 MAY 2024
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 8 Adams Business Centre, Henson Way, Telford Way Industrial Estate, Kettering, NN16 8PX.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the directors.
On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Gym equipment |
- |
25% reducing balance |
|
|
|
|
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to
3
.
5.
TANGIBLE ASSETS
|
Plant and machinery |
|
£ |
Cost |
|
At 26 May 2023 |
– |
Additions |
37,076 |
|
-------- |
At 31 May 2024 |
37,076 |
|
-------- |
Depreciation |
|
At 26 May 2023 |
– |
Charge for the period |
9,269 |
|
-------- |
At 31 May 2024 |
9,269 |
|
-------- |
Carrying amount |
|
At 31 May 2024 |
27,807 |
|
-------- |
|
|
6.
DEBTORS
|
31 May 24 |
|
£ |
Other debtors |
10,489 |
|
-------- |
|
|
7.
CREDITORS:
amounts falling due within one year
|
31 May 24 |
|
£ |
Other creditors |
53,313 |
|
-------- |
|
|
8.
OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
31 May 24 |
|
£ |
Not later than 1 year |
19,250 |
Later than 1 year and not later than 5 years |
25,375 |
|
-------- |
|
44,625 |
|
-------- |
|
|
9.
RELATED PARTY TRANSACTIONS
During the year the company undertook the following transactions with related parties: The
directors
have advanced monies to the company. At 31 May 2024 the amount due from the company was £ 51,213
.
10.
GOING CONCERN
The directors have considered the period to 21 February 2026 when assessing the company's ability to continue as a going concern. It is believed that the company will either be able to satisfy it's liabilities as these become payable, or alternatively will be sold as a going concern.