Registration number:
Fitness Equipment Services Limited
for the Year Ended 31 October 2024
Fitness Equipment Services Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Fitness Equipment Services Limited
(Registration number: 06978088)
Balance Sheet as at 31 October 2024
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2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Fitness Equipment Services Limited
(Registration number: 06978088)
Balance Sheet as at 31 October 2024
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Director's Report has been taken.
Approved and authorised by the
Mr M S Taylor
Director
Fitness Equipment Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
12/13 Whieldon Industrial Estate
Whieldon Road
Stoke on Trent
Staffordshire
ST4 4JP
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Fitness Equipment Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
Tax
The tax expense for the period comprises current and deferred tax.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Improvements to property |
not depreciated |
Fixtures, fittings and computer equipment |
20% reducing balance/straight line over 3 years |
Motor vehicles |
15% reducing balance |
Plant and equipment |
15% reducing balance |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
straight line over 10 years |
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Fitness Equipment Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Intangible assets |
Goodwill |
Internally generated software development costs |
Total |
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Cost or valuation |
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At 1 November 2023 |
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At 31 October 2024 |
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Amortisation |
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At 1 November 2023 |
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At 31 October 2024 |
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Carrying amount |
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At 31 October 2024 |
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- |
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At 31 October 2023 |
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- |
- |
Fitness Equipment Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
Tangible assets |
Improvements to property |
Fixtures, fittings and computer equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 November 2023 |
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Additions |
- |
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Disposals |
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- |
( |
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( |
At 31 October 2024 |
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Depreciation |
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At 1 November 2023 |
- |
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Charge for the year |
- |
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Eliminated on disposal |
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( |
- |
( |
At 31 October 2024 |
- |
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Carrying amount |
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At 31 October 2024 |
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At 31 October 2023 |
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Fitness Equipment Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
Debtors |
Current |
2024 |
2023 |
Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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