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MATTDOESFITNESS LIMITED

Registered Number
11411081
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

MATTDOESFITNESS LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

MORSIA, Matthew
MORSIA, Sarah

Registered Address

Victoria Court
17-21 Ashford Road
Maidstone
ME14 5DA

Registered Number

11411081 (England and Wales)
MATTDOESFITNESS LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets43,5395,139
3,5395,139
Current assets
Debtors5924,867474,410
Cash at bank and on hand16,47740,194
941,344514,604
Creditors amounts falling due within one year6(688,143)(251,249)
Net current assets (liabilities)253,201263,355
Total assets less current liabilities256,740268,494
Provisions for liabilities7(885)(1,285)
Net assets255,855267,209
Capital and reserves
Called up share capital1010
Profit and loss account255,845267,199
Shareholders' funds255,855267,209
The financial statements were approved and authorised for issue by the Board of Directors on 4 March 2025, and are signed on its behalf by:
MORSIA, Matthew
Director
MORSIA, Sarah
Director

Registered Company No. 11411081
MATTDOESFITNESS LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
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'.
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. The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue from sale of goods
Revenue is measured at the fair value of the consideration received or receivable and represents amounts for goods supplied and services rendered, stated net of discounts and of VAT. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.
Intangible assets
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years. Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Goodwill - 20% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less any accumulated depreciation and impairment losses. A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate, and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2.Average number of employees

20242023
Average number of employees during the year33
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 August 2311,50011,500
At 31 July 2411,50011,500
Amortisation and impairment
At 01 August 2311,50011,500
At 31 July 2411,50011,500
Net book value
At 31 July 24--
At 31 July 23--
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 August 2319,63019,630
Additions1,4991,499
At 31 July 2421,12921,129
Depreciation and impairment
At 01 August 2314,49114,491
Charge for year3,0993,099
At 31 July 2417,59017,590
Net book value
At 31 July 243,5393,539
At 31 July 235,1395,139
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-26,719
Amounts owed by group undertakings916,683447,691
Prepayments and accrued income8,184-
Total924,867474,410
6.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties486,350164,742
Taxation and social security196,99182,062
Other creditors257-
Accrued liabilities and deferred income4,5454,445
Total688,143251,249
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)8851,285
Total8851,285
8.Related party transactions
The company is a member of a small group and transactions occur within the group that are not on an arms length basis. No interest is charged on any balances due between the members of the group. At the year end, the company was owed £916,683 (2023 - £447,691) from group companies. At the year end, the company owed £486,350 (2023 - £164,742) to a group company. The company's parent undertaking is Morsia Holdings Limited, a company registered in England and Wales, whose registered office is Victoria Court 17 - 21 Ashford Road Maidstone Kent ME14 5DA.