Registered number
06265726
Falcon Fitness Frome Limited
Accounts
For the Year ended
30 June 2024
Oakensen
Chartered Accountants
Bryer Ash Business Park
Trowbridge
Wiltshire
BA14 8HE
Falcon Fitness Frome Limited
Registered number: 06265726
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 96,866 86,447
Current assets
Stocks 4,677 4,109
Debtors 4 5,263 -
Cash at bank and in hand 44,765 37,978
54,705 42,087
Creditors: amounts falling due within one year 5 (31,202) (21,436)
Net current assets 23,503 20,651
Total assets less current liabilities 120,369 107,098
Creditors: amounts falling due after more than one year 6 (9,186) (22,494)
Net assets 111,183 84,604
Capital and reserves
Called up share capital 2 2
Profit and loss account 111,181 84,602
Shareholder's funds 111,183 84,604
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D J White
Director
Approved by the board on 31 January 2025
Falcon Fitness Frome Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 15% reducing balance
Land and buildings 15% reducing balance
Plant and machinery 25% reducing balance
Equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, which is usually the invoice price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price, which is usually the invoice price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 1 July 2023 22,158 106,981 24,144 153,283
Additions - 39,196 - 39,196
Disposals - (2,750) - (2,750)
At 30 June 2024 22,158 143,427 24,144 189,729
Depreciation
At 1 July 2023 8,550 40,042 18,244 66,836
Charge for the year 2,041 25,851 885 28,777
On disposals - (2,750) - (2,750)
At 30 June 2024 10,591 63,143 19,129 92,863
Net book value
At 30 June 2024 11,567 80,284 5,015 96,866
At 30 June 2023 13,608 66,939 5,900 86,447
4 Debtors 2024 2023
£ £
Other debtors 5,263 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,110 6,229
Obligations under finance lease and hire purchase contracts 2,137 -
Taxation and social security costs 21,538 10,902
Other creditors 1,417 4,305
31,202 21,436
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,854 20,644
Other creditors 1,332 1,850
9,186 22,494
7 Other information
Falcon Fitness Frome Limited is a private company limited by shares and incorporated in England. Its registered office is:
Manor Road
Marston Trading Estate
Frome
Somerset
BA11 4BG
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