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REGISTERED NUMBER: NI624145 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

BALANCE LEISURE FITNESS LTD

BALANCE LEISURE FITNESS LTD (REGISTERED NUMBER: NI624145)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


BALANCE LEISURE FITNESS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: M R Smyth



REGISTERED OFFICE: 17 Clarendon Road Clarendon Dock
Belfast
BT1 3BG



REGISTERED NUMBER: NI624145 (Northern Ireland)



ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



BANKERS: First Trust
425-427 Ormeau Road
Belfast
BT7 3GQ

BALANCE LEISURE FITNESS LTD (REGISTERED NUMBER: NI624145)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 7,000
Tangible assets 5 35,315 43,706
35,315 50,706

CURRENT ASSETS
Stocks 78,808 85,677
Debtors 6 148,881 168,179
Cash at bank and in hand 58,272 121,440
285,961 375,296
CREDITORS
Amounts falling due within one year 7 149,656 249,371
NET CURRENT ASSETS 136,305 125,925
TOTAL ASSETS LESS CURRENT
LIABILITIES

171,620

176,631

CREDITORS
Amounts falling due after more than one
year

8

(25,310

)

(28,111

)

PROVISIONS FOR LIABILITIES (8,829 ) (10,926 )
NET ASSETS 137,481 137,594

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 137,381 137,494
SHAREHOLDERS' FUNDS 137,481 137,594

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BALANCE LEISURE FITNESS LTD (REGISTERED NUMBER: NI624145)

BALANCE SHEET - continued
30 JUNE 2024


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 director and authorised for issue on 25 March 2025 and were signed by:





M R Smyth - Director


BALANCE LEISURE FITNESS LTD (REGISTERED NUMBER: NI624145)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Balance Leisure Fitness Ltd is a private company, limited by shares , registered in Northern Ireland. 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:

Establish whether there are indicators of impairment of the company's intangible and tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general.

The directors also consider the amortisation and depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures, fittings & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

BALANCE LEISURE FITNESS LTD (REGISTERED NUMBER: NI624145)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

BALANCE LEISURE FITNESS LTD (REGISTERED NUMBER: NI624145)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 70,000
AMORTISATION
At 1 July 2023 63,000
Charge for year 7,000
At 30 June 2024 70,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 7,000

5. TANGIBLE FIXED ASSETS
Fixtures,
Plant and fittings Motor Computer
machinery & equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 10,555 4,579 74,270 20,241 109,645
Additions - 402 - 4,047 4,449
Disposals - - (6,995 ) - (6,995 )
At 30 June 2024 10,555 4,981 67,275 24,288 107,099
DEPRECIATION
At 1 July 2023 9,498 3,355 44,154 8,932 65,939
Charge for year 265 314 7,334 2,978 10,891
Eliminated on disposal - - (5,046 ) - (5,046 )
At 30 June 2024 9,763 3,669 46,442 11,910 71,784
NET BOOK VALUE
At 30 June 2024 792 1,312 20,833 12,378 35,315
At 30 June 2023 1,057 1,224 30,116 11,309 43,706

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 124,236 129,320
Other debtors 24,645 38,859
148,881 168,179

Included in other debtors is an amount of £23,645 (2023: £12,859) owed to the company by the director. The amount is interest free, unsecured and repayable on demand.

BALANCE LEISURE FITNESS LTD (REGISTERED NUMBER: NI624145)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 10,657 29,455
Hire purchase contracts 4,193 6,406
Trade creditors 69,618 150,950
Taxation and social security 16,256 10,365
Other creditors 48,932 52,195
149,656 249,371

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 9,784 10,657
Hire purchase contracts 15,526 17,454
25,310 28,111

9. CONTINGENT LIABILITIES

A contingent liability may exist in respect of a repayment of grant income to HM Revenue and Customs should the conditions under which a grant was awarded to the company not be met. Due to the nature of these contingencies, it is not currently possible to estimate the likelihood of this occurring, nor quantify the financial effect or provide an indication of timing as to the potential liability that may arise.

10. ULTIMATE CONTROLLING PARTY

The company continues to be controlled by M Smyth, by virtue of his shareholding.