ACCOUNTS - Final Accounts preparation

Company Registration Number: 08222933

FIT PARKS LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FIT PARKS LTD

REGISTERED NUMBER: 08222933

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		5,704		12,550
Fixed Asset Investments	5		-		50
			5,704		12,600
Current assets
Stocks		25,596		25,596
Debtors: amounts falling due within one year	6	267,222		284,437
Cash at bank and in hand		41,698		12,565
		334,516		322,598
Creditors: amounts falling due within one year	7	(81,808)		(323,790)
Net current assets/(liabilities)			252,708		(1,192)
Total assets less current liabilities			258,412		11,408

Net assets			258,412		11,408

Capital and reserves
Called up share capital	2	2
Profit and loss account	258,410	11,406
	258,412	11,408

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FIT PARKS LTD

REGISTERED NUMBER: 08222933

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 August 2025.

................................................

G F Banks

Director

The notes on pages 3 to 8 form part of these financial statements.

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FIT PARKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Fit Parks Ltd ('the company') is a private company limited by shares, incorporated and domiciled in the England. The address of the registered office is given in the company information page of these financial statements.

2.Accounting policies

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 periods presented, unless otherwise stated.

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

They are presented in pound sterling, which is the functional currency of the entity, and are rounded to the nearest £1.

The following principal accounting policies have been applied:

2.2

Going concern

The company meets its working capital requirements through its cash resources and operating cash flows supported by funding facilities.
The directors have prepared financial forecasts which, having regard for the current economic environment and taking account of reasonably possible changes in trading performance, indicate that the company will maintain sufficient financial headroom to enable it to continue meeting its liabilities as they fall due in the normal course of business for at least the next twelve months following approval of these financial statements. Notwithstanding any further potential ongoing impact on the company's financial performance and position beyond that already anticipated by the forecasts, the company maintains net funds, working capital and confirmed funding facilities which the directors consider are sufficient to fully mitigate the risks which remain due to the current economic environment.
The directors have a reasonable expectation that the company has adequate financial and other resources to continue in operational existence for the foreseeable future. Accordingly, they continue to prepare the financial statements on a going concern basis.

2.3

Revenue

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of trade discounts and of Value Added Tax.

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FIT PARKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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FIT PARKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	35 years
Plant and machinery	-	20% straight line
Fixtures and fittings	-	25% straight line
Office equipment	-	25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 29 (2023 - 29).

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FIT PARKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

	Freehold property	Plant and machinery	Fixtures and fittings	Office equipment	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	1,935,381	52,700	39,529	13,962	2,041,572
At 31 December 2024	1,935,381	52,700	39,529	13,962	2,041,572
Depreciation
At 1 January 2024	1,935,381	52,700	32,683	8,258	2,029,022
Charge for the year on owned assets	-	-	6,846	-	6,846
At 31 December 2024	1,935,381	52,700	39,529	8,258	2,035,868
Net book value
At 31 December 2024	-	-	-	5,704	5,704
At 31 December 2023	-	-	6,846	5,704	12,550

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FIT PARKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Fixed asset investments

		Investment in joint ventures
		£

	At 1 January 2024	50
	Disposals	(50)
	At 31 December 2024	-

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FIT PARKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	2,554	-
Amounts owed by related parties	22,325	3,629
Other debtors	130,754	151,748
Prepayments and accrued income	64,820	60,954
Deferred taxation	46,769	68,106
	267,222	284,437

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Directors loan account	-	256,955
Trade creditors	51,625	43,948
Other taxation and social security	5,992	4,534
Other creditors	11,772	15,753
Accruals and deferred income	12,419	2,600
	81,808	323,790

Related party transactions

During the year the company made sales of £- (2023: £15,326) to Trent Park Mini Golf Ltd, a company in which C D Johnson is a director. 3,629 (2023: £Nil) was outstanding to the company at the year end and is included in debtors.
During the year the company made sales of £- (2023: £17,438), to LTS Refurbishment Limited, a company in which G Banks is a director. £18,696 (2023: Nil) was owing at the year end and showing in creditors.

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