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Company No: 11168432 (England and Wales)

LEAN 4 FITNESS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

LEAN 4 FITNESS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

LEAN 4 FITNESS LIMITED

BALANCE SHEET

As at 30 June 2024
LEAN 4 FITNESS LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,907 4,802
3,907 4,802
Current assets
Stocks 4 402 593
Debtors 5 68,118 16,353
Cash at bank and in hand 18,642 77,796
87,162 94,742
Creditors: amounts falling due within one year 6 ( 117,437) ( 113,045)
Net current liabilities (30,275) (18,303)
Total assets less current liabilities (26,368) (13,501)
Creditors: amounts falling due after more than one year 7 ( 30,557) ( 36,340)
Net liabilities ( 56,925) ( 49,841)
Capital and reserves
Called-up share capital 240 240
Profit and loss account ( 57,165 ) ( 50,081 )
Total shareholders' deficit ( 56,925) ( 49,841)

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Lean 4 Fitness Limited (registered number: 11168432) were approved and authorised for issue by the Board of Directors on 28 March 2025. They were signed on its behalf by:

L J Girling
Director
LEAN 4 FITNESS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
LEAN 4 FITNESS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lean 4 Fitness Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 5 Christchurch Business Park, Radar Way, Christchurch, BH23 4FL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Plant and machinery 5 years straight line
Office equipment 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified 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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 July 2023 4,252 12,985 3,353 3,752 24,342
Additions 0 629 0 344 973
At 30 June 2024 4,252 13,614 3,353 4,096 25,315
Accumulated depreciation
At 01 July 2023 4,252 8,764 2,885 3,639 19,540
Charge for the financial year 0 1,449 298 121 1,868
At 30 June 2024 4,252 10,213 3,183 3,760 21,408
Net book value
At 30 June 2024 0 3,401 170 336 3,907
At 30 June 2023 0 4,221 468 113 4,802

4. Stocks

2024 2023
£ £
Stocks 402 593

5. Debtors

2024 2023
£ £
Trade debtors 0 10,992
Amounts owed by associates 66,168 0
Other debtors 1,950 5,361
68,118 16,353

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 5,776 5,633
Trade creditors 6,920 3,069
Amounts owed to associates 2 0
Other taxation and social security 8,059 8,130
Other creditors 96,680 96,213
117,437 113,045

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 30,557 36,340

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Other related party transactions

2024 2023
£ £
Key Personnel 5,110 (578)