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REGISTERED NUMBER: 07809752 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

FIT EVENTS LTD

FIT EVENTS LTD (REGISTERED NUMBER: 07809752)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FIT EVENTS LTD

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTORS: D B Angus
I R Angus



SECRETARY: G Tsangari



REGISTERED OFFICE: 9 Manchester Square
London
W1U 3PL



REGISTERED NUMBER: 07809752 (England and Wales)



SENIOR STATUTORY AUDITOR: Neil Usher



AUDITORS: Thorne Lancaster Parker
Chartered Accountants &
Statutory Auditors
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

FIT EVENTS LTD (REGISTERED NUMBER: 07809752)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 6 1,400,036 1,130,407
Cash at bank 4,456 100
1,404,492 1,130,507
CREDITORS
Amounts falling due within one year 7 (1,263,014 ) (564,775 )
NET CURRENT ASSETS 141,478 565,732
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,478

565,732

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 140,478 564,732
SHAREHOLDERS' FUNDS 141,478 565,732

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 Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





D B Angus - Director


FIT EVENTS LTD (REGISTERED NUMBER: 07809752)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024


1. STATUTORY INFORMATION

Fit Events 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

Revenue recognition
Revenue represents the income receivable from the organisation and management of exhibitions that occur in the financial period, net of value added tax.

Revenue is recognised at the fair value of the consideration received or receivable for sale of goods to external customers in the ordinary nature of the business. The fair value of the consideration takes into account trade discounts, settlement discounts and volume rebate.

Income and directly allocable costs arising from exhibitions are to be taken to the profit and loss account in the financial period in which the relevant exhibitions take place. Income and directly related costs arising from exhibitions to be held at a date subsequent to the balance sheet date are not taken to the profit and loss account but are treated as deferred exhibition income and deferred expenditure and included in the balance sheet as deferred exhibition income and deferred exhibition costs respectively.

Property plant and equipment
Property, plant and equipment are initially measured at cost (or deemed cost) and are subsequently measured at cost or valuation, net of depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings over 3 years

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.


FIT EVENTS LTD (REGISTERED NUMBER: 07809752)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
The financial statements are presented in sterling which is also the the functional currency of the company.

Transactions in currencies other than the functional currency (foreign currencies) are initially recorded at the standard exchange rate ruling for the period..

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the reporting date.

Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

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.

FIT EVENTS LTD (REGISTERED NUMBER: 07809752)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments.

a) Basic financial assets
Trade and other debtors, loans to fellow group companies, loans to related companies, other debtors and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

b) Basic financial liabilities and equity
Financial liabilities are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into an equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Trade creditors, other creditors and loans from fellow group and related companies are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled.

Bank overdrafts and invoice discounting facility are presented within creditors: amounts falling due within one year.

Other loans are initially recognised at the transaction price, including transaction costs and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments
The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

FIT EVENTS LTD (REGISTERED NUMBER: 07809752)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


4. EMPLOYEES AND DIRECTORS

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

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 7,188
DEPRECIATION
At 1 July 2023
and 30 June 2024 7,188
NET BOOK VALUE
At 30 June 2024 -

.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 206,927 258,639
Amounts owed by group undertakings 931,037 832,687
Other debtors 269 269
Prepayments and accrued income 261,803 38,812
1,400,036 1,130,407

Trade debtors are stated after provisions for impairment of £69,741 (2023:£122,944).

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax - 83,445
Other creditors 138,493 67,455
Accruals and deferred income 1,124,521 413,875
1,263,014 564,775

FIT EVENTS LTD (REGISTERED NUMBER: 07809752)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary 1 1,000 1,000

9. RESERVES
Retained
earnings
£   

At 1 July 2023 564,732
Deficit for the year (299,254 )
Dividends (125,000 )
At 30 June 2024 140,478

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


Neil Usher (Senior Statutory Auditor)
for and on behalf of Thorne Lancaster Parker
Date: 18 March 2025

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13. POST BALANCE SHEET EVENTS

There were no material post balance sheet events requiring disclosure.

FIT EVENTS LTD (REGISTERED NUMBER: 07809752)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


14. ULTIMATE CONTROLLING PARTY

The Directors consider the ultimate parent undertaking of the company to be Angus Montgomery Limited, a company registered in England and Wales, whose registered office is 9 Manchester Square, London, England, W1U 3PL.

The largest and smallest group of undertakings for which the group accounts have been drawn up is that headed by Angus Montgomery Limited. The consolidated accounts of the parent company are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CE14 3UZ.