Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-31false22023-06-01falsephysical well-being activities2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10756579 2023-06-01 2024-05-31 10756579 2022-06-01 2023-05-31 10756579 2024-05-31 10756579 2023-05-31 10756579 c:Director1 2023-06-01 2024-05-31 10756579 c:Director2 2023-06-01 2024-05-31 10756579 c:RegisteredOffice 2023-06-01 2024-05-31 10756579 d:PlantMachinery 2023-06-01 2024-05-31 10756579 d:PlantMachinery 2024-05-31 10756579 d:PlantMachinery 2023-05-31 10756579 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10756579 d:FurnitureFittings 2023-06-01 2024-05-31 10756579 d:FurnitureFittings 2024-05-31 10756579 d:FurnitureFittings 2023-05-31 10756579 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10756579 d:ComputerEquipment 2023-06-01 2024-05-31 10756579 d:ComputerEquipment 2024-05-31 10756579 d:ComputerEquipment 2023-05-31 10756579 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10756579 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10756579 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-01 2024-05-31 10756579 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-05-31 10756579 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 10756579 d:CurrentFinancialInstruments 2024-05-31 10756579 d:CurrentFinancialInstruments 2023-05-31 10756579 d:Non-currentFinancialInstruments 2024-05-31 10756579 d:Non-currentFinancialInstruments 2023-05-31 10756579 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 10756579 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10756579 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 10756579 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 10756579 d:ShareCapital 2024-05-31 10756579 d:ShareCapital 2023-05-31 10756579 d:RetainedEarningsAccumulatedLosses 2024-05-31 10756579 d:RetainedEarningsAccumulatedLosses 2023-05-31 10756579 c:FRS102 2023-06-01 2024-05-31 10756579 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10756579 c:FullAccounts 2023-06-01 2024-05-31 10756579 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10756579 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-06-01 2024-05-31 10756579 2 2023-06-01 2024-05-31 10756579 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-06-01 2024-05-31 10756579 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure
Registered number: 10756579














PILATES PT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MAY 2024

 
PILATES PT LIMITED
 
 
COMPANY INFORMATION


Directors
Miss H Grant 
Mr S W Gordon 




Registered number
10756579



Registered office
5 Elstree Gate
Elstree Way

Borehamwood

Hertfordshire

WD6 1JD




Accountants
Sopher + Co LLP
Chartered Accountants

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
PILATES PT LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 8


 
PILATES PT LIMITED
REGISTERED NUMBER:10756579

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
17,667
29,798

Tangible assets
 5 
2,415
4,708

  
20,082
34,506

Current assets
  

Stocks
  
8,911
11,680

Debtors: amounts falling due within one year
 6 
12,223
37,517

Cash at bank and in hand
  
26,698
1,840

  
47,832
51,037

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(54,113)
(60,817)

Net current liabilities
  
 
 
(6,281)
 
 
(9,780)

Total assets less current liabilities
  
13,801
24,726

Creditors: amounts falling due after more than one year
 8 
(12,535)
(23,182)

Provisions for liabilities
  

Deferred tax
  
(604)
(1,177)

  
 
 
(604)
 
 
(1,177)

Net assets
  
662
367


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
652
357

  
662
367


Page 1

 
PILATES PT LIMITED
REGISTERED NUMBER:10756579
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Miss H Grant
Director

Date: 3 February 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PILATES PT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Pilates PT Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, United Kingdom, WD6 1JD.
The principal activity of the company continued to be that of physical well-being activities.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents net invoiced sales of services, excluding value added tax. Income is recognised at the point of  delivery of the service.

 
2.3

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
PILATES PT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Online training plans
-
evenly over their estimated useful life of three years

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
PILATES PT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
on reducing balance
Fixtures and fittings
-
25%
on reducing balance
Computer equipment
-
33%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
PILATES PT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Intangible assets




Online training plans

£



Cost


At 1 June 2023
58,961


Additions
3,308



At 31 May 2024

62,269



Amortisation


At 1 June 2023
29,163


Charge for the year on owned assets
15,439



At 31 May 2024

44,602



Net book value



At 31 May 2024
17,667



At 31 May 2023
29,798



Page 6

 
PILATES PT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost


At 1 June 2023
13,797
5,446
5,137
24,380



At 31 May 2024

13,797
5,446
5,137
24,380



Depreciation


At 1 June 2023
10,576
4,761
4,336
19,673


Charge for the year on owned assets
806
685
801
2,292



At 31 May 2024

11,382
5,446
5,137
21,965



Net book value



At 31 May 2024
2,415
-
-
2,415



At 31 May 2023
3,222
685
801
4,708


6.


Debtors

2024
2023
£
£


Trade debtors
1,200
1,200

Other debtors
11,023
36,217

Prepayments and accrued income
-
100

12,223
37,517


Page 7

 
PILATES PT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
230

Bank loans
10,648
10,648

Trade creditors
4,411
8,183

Corporation tax
18,307
10,355

Other taxation and social security
14,573
13,833

Obligations under finance lease and hire purchase contracts
-
583

Accruals and deferred income
6,174
16,985

54,113
60,817



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,535
23,182



9.


Related party transactions

Included in other debtors is an amount of £10,292 (2023 - £29,787), owed from the director which is repayable on demand with interest which is charged at the official HMRC rate.

 
Page 8