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Registration number: 11067623

On Form Personal Training Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 November 2024

 

On Form Personal Training Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

On Form Personal Training Ltd

Company Information

Director

A J Carter

Registered office

16 Austen Gardens
Whiteley
Fareham
Hampshire
PO15 7HW

Accountants

Keith Powers FCA 13 Ambleside
Botley
Southampton
SO30 2NS

 

On Form Personal Training Ltd

(Registration number: 11067623)
Abridged Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,717

3,432

Tangible assets

5

3,351

8,381

 

5,068

11,813

Current assets

 

Debtors

3,006

3,006

Cash at bank and in hand

 

6,939

12,076

 

9,945

15,082

Creditors: Amounts falling due within one year

(11,351)

(8,334)

Net current (liabilities)/assets

 

(1,406)

6,748

Total assets less current liabilities

 

3,662

18,561

Creditors: Amounts falling due after more than one year

(7,720)

(10,389)

Net (liabilities)/assets

 

(4,058)

8,172

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(4,158)

8,072

Shareholders' (deficit)/funds

 

(4,058)

8,172

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

On Form Personal Training Ltd

(Registration number: 11067623)
Abridged Balance Sheet as at 30 November 2024

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 28 August 2025
 

.........................................
A J Carter
Director

 

On Form Personal Training Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
16 Austen Gardens
Whiteley
Fareham
Hampshire
PO15 7HW

These financial statements were authorised for issue by the director on 28 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged 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 abridged 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.

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.

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:

 

On Form Personal Training Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Asset class

Depreciation method and rate

Training equipment

25% straight line

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

Intangible assets

16.67% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

On Form Personal Training Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 3).

 

On Form Personal Training Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 December 2023

10,292

At 30 November 2024

10,292

Amortisation

At 1 December 2023

6,860

Amortisation charge

1,715

At 30 November 2024

8,575

Carrying amount

At 30 November 2024

1,717

At 30 November 2023

3,432

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

-

37,017

37,017

Additions

2,167

-

2,167

At 30 November 2024

2,167

37,017

39,184

Depreciation

At 1 December 2023

-

28,636

28,636

Charge for the year

2,167

5,030

7,197

At 30 November 2024

2,167

33,666

35,833

Carrying amount

At 30 November 2024

-

3,351

3,351

At 30 November 2023

-

8,381

8,381

6

Share capital

Allotted, called up and fully paid shares

 

On Form Personal Training Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

7

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

41,507

28,867

Summary of transactions with other related parties

The company is under the control of the director who owns 100% of the issued equity share capital.

Included in other creditors is an amount owed to the director of £3,750 (2023: £2,270). The loan is unsecured, free of interest and has no fixed terms of repayment.

Except as disclosed elsewhere in these accounts, there were no transactions with related parties requiring disclosure in terms of S1a of FRS102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, or the Companies Act, 2006.