IQ FITNESS & STRENGTH LIMITED


Directors	HODKINSON, Benjamin
	NIVEN, Stuart


Registered Address	Ground Floor Rear Barn
	The Brookdale Centre
	Knutsford
	WA16 0SR


Registered Number	12831146 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		36,973		45,541
			36,973		45,541
Current assets
Stocks		350		350
Debtors	4	10,000		20,100
Cash at bank and on hand		161		325
		10,511		20,775
Creditors amounts falling due within one year	5	(89,030)		(111,455)
Net current assets (liabilities)			(78,519)		(90,680)
Total assets less current liabilities			(41,546)		(45,139)
Creditors amounts falling due after one year	6		(2,331)		(23,572)
Net assets			(43,877)		(68,711)
Capital and reserves
Called up share capital			200		200
Share premium			49,925		49,925
Profit and loss account			(94,002)		(118,836)
Shareholders' funds			(43,877)		(68,711)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 30 September 2025, and are signed on its behalf by:

NIVEN, Stuart
Director
Registered Company No. 12831146

IQ FITNESS & STRENGTH LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

	Finance leases and hire purchase contracts
	Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Finance leases and hire purchase contracts

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	0		0

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 January 24	132,132
	Additions	3,354
	At 31 December 24	135,486
	Depreciation and impairment
	At 01 January 24	86,590
	Charge for year	11,923
	At 31 December 24	98,513
	Net book value
	At 31 December 24	36,973
	At 31 December 23	45,541

4.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	10,000	20,100
Total	10,000	20,100

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Bank borrowings and overdrafts	14,661	12,866
Taxation and social security	23,509	7,278
Finance lease and HP contracts	9,650	11,515
Other creditors	3,744	26,745
Accrued liabilities and deferred income	37,466	53,051
Total	89,030	111,455

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	1,436	13,759
Other creditors	895	9,813
Total	2,331	23,572

7.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	10,545		21,328