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Company registration number: 05077377
Xtreme Fitness (Midlands) Ltd
Unaudited financial statements
31 March 2025
Xtreme Fitness (Midlands) Ltd
Contents
Director's report
Accountants report
Statement of comprehensive income
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Xtreme Fitness (Midlands) Ltd
Director's report
Year ended 31 March 2025
The director presents his report and the unaudited financial statements of the company for the year ended 31 March 2025.
Director
The director who served the company during the year was as follows:
Mr Steven Parish
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 23 May 2025 and signed on behalf of the board by:
Mr Steven Parish
Director
Xtreme Fitness (Midlands) Ltd
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Xtreme Fitness (Midlands) Ltd
Year ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Xtreme Fitness (Midlands) Ltd for the year ended 31 March 2025 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of IFA , we are subject to its ethical and other professional requirements which are detailed at .
This report is made solely to the director of Xtreme Fitness (Midlands) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Xtreme Fitness (Midlands) Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of IFA as detailed at www.ifa.org.uk To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Xtreme Fitness (Midlands) Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Xtreme Fitness (Midlands) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Xtreme Fitness (Midlands) Ltd. You consider that Xtreme Fitness (Midlands) Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Xtreme Fitness (Midlands) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Parkes & Co Accountants Limited
IFA
The Coach House
Greensforge
Kingswinford
DY6 0AH
23 May 2025
Xtreme Fitness (Midlands) Ltd
Statement of comprehensive income
Year ended 31 March 2025
2025 2024
Note £ £
Turnover 71,172 70,114
Change in stocks of finished goods and in work in progress ( 13,706) ( 16,184)
Other operating income 1 555
_______ _______
57,467 54,485
Staff costs ( 13,200) ( 20,256)
Depreciation and other amounts written off tangible and intangible fixed assets ( 2,466) ( 3,015)
Other operating expenses ( 26,351) ( 30,325)
_______ _______
Operating profit 15,450 889
Other interest receivable and similar income ( 169) ( 195)
Interest payable and similar expenses - ( 36)
_______ _______
Profit before taxation 15,281 658
Tax on profit ( 2,183) -
_______ _______
Profit for the financial year and total comprehensive income 13,098 658
_______ _______
All the activities of the company are from continuing operations.
Xtreme Fitness (Midlands) Ltd
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 6 12,816 11,749
_______ _______
12,816 11,749
Current assets
Debtors 7 - 695
Cash at bank and in hand 40,344 30,356
_______ _______
40,344 31,051
Creditors: amounts falling due
within one year 8 ( 24,275) ( 23,938)
_______ _______
Net current assets 16,069 7,113
_______ _______
Total assets less current liabilities 28,885 18,862
Creditors: amounts falling due
after more than one year 9 ( 4,941) ( 8,016)
Provisions for liabilities ( 1,469) ( 1,469)
_______ _______
Net assets 22,475 9,377
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 21,475 8,377
_______ _______
Shareholder funds 22,475 9,377
_______ _______
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 23 May 2025 , and are signed on behalf of the board by:
Mr Steven Parish
Director
Company registration number: 05077377
Xtreme Fitness (Midlands) Ltd
Statement of changes in equity
Year ended 31 March 2025
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2023 1,000 9,719 10,719
Profit for the year 658 658
_______ _______ _______
Total comprehensive income for the year - 658 658
Dividends paid and payable ( 2,000) ( 2,000)
_______ _______ _______
Total investments by and distributions to owners - ( 2,000) ( 2,000)
_______ _______ _______
At 31 March 2024 and 1 April 2024 1,000 8,377 9,377
Profit for the year 13,098 13,098
_______ _______ _______
Total comprehensive income for the year - 13,098 13,098
_______ _______ _______
At 31 March 2025 1,000 21,475 22,475
_______ _______ _______
Xtreme Fitness (Midlands) Ltd
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Central House Ground Floor, Halesowen Road, Netherton, West Midlands, DY2 9NW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
The aggregate payroll costs incurred during the year were:
2025 2024
£ £
Wages and salaries 7,200 13,701
Social security costs - 555
Other pension costs 6,000 6,000
_______ _______
13,200 20,256
_______ _______
5. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2025 2024
£ £
Depreciation of tangible assets 2,466 3,015
Fees payable for the audit of the financial statements 834 889
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2024 28,513 28,513
Additions 3,533 3,533
_______ _______
At 31 March 2025 32,046 32,046
_______ _______
Depreciation
At 1 April 2024 16,764 16,764
Charge for the year 2,466 2,466
_______ _______
At 31 March 2025 19,230 19,230
_______ _______
Carrying amount
At 31 March 2025 12,816 12,816
_______ _______
At 31 March 2024 11,749 11,749
_______ _______
7. Debtors
2025 2024
£ £
Other debtors - 695
_______ _______
8. Creditors: amounts falling due within one year
2025 2024
£ £
Corporation tax 2,183 -
Social security and other taxes 245 -
Other creditors 21,847 23,938
_______ _______
24,275 23,938
_______ _______
9. Creditors: amounts falling due after more than one year
2025 2024
£ £
Other creditors 4,941 8,016
_______ _______
10. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2025
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Steven Parish ( 22,804) 3,629 ( 19,175)
_______ _______ _______
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Steven Parish ( 42,201) 19,396 (22,805)
_______ _______ _______