The Hub Fitness Group Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

The Hub Fitness Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13011466 . The registered office is MJH Accountants Limited, 129 Woodplumpton Road, Fulwood, Lancashire, PR2 3LF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The Company is the parent of a small group and is entitled, by virtue of section 399 of the Companies Act 2006, not to prepare group financial statements. These financial statements are therefore prepared as the Company’s individual financial statements.

2.2. Going Concern Disclosure

The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are Trademarks and are amortised to profit and loss account over their estimated economic life.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

20% on written down value

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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The Hub Fitness Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. Investments in subsidiaries

Investments in subsidiary undertakings are stated at cost less provision for impairment.

Cost represents the fair value of shares issued by the Company in exchange for shares in the subsidiary undertakings at the time the group was formed.

The difference between the fair value of the consideration given and the nominal value of shares issued by the Company has been credited to the merger reserve.

The carrying value of subsidiary undertakings is reviewed annually for indicators of impairment and adjusted accordingly.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 12 (2023: 16)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	220,000

As at 31 December 2024	220,000

Amortisation
As at 1 January 2024	20,075
Provided during the period	40,150

As at 31 December 2024	60,225

Net Book Value
As at 31 December 2024	159,775

As at 1 January 2024	199,925

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The Hub Fitness Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 January 2024	4,236
Additions	2,697

As at 31 December 2024	6,933

Depreciation
As at 1 January 2024	848
Provided during the period	1,128

As at 31 December 2024	1,976

Net Book Value
As at 31 December 2024	4,957

As at 1 January 2024	3,388

6. Investments

	Subsidiaries	Joint Ventures	Total
	£	£	£
Cost or Valuation
As at 1 January 2024	532,844	50	532,894
Disposals	(268,512 )	-	(268,512 )

As at 31 December 2024	264,332	50	264,382

Provision
As at 1 January 2024	-	-	-

As at 31 December 2024	-	-	-

Net Book Value
As at 31 December 2024	264,332	50	264,382

As at 1 January 2024	532,844	50	532,894

Subsidiary undertakings

The Company holds investments in the following subsidiary undertakings as at 31 December 2024:

Name of undertaking	Country of incorporation	Share class	% held	Principal activity
Transform Hub Franchise Limited	England & Wales	Ordinary	100%	Franchise operator
Transformation Coaching (Knutsford) Limited	England & Wales	Ordinary	100%	Gym operator
Mens Hub (Preston) Limited	England & Wales	Ordinary	100%	Dormant
Transformation Coaching (Preston) Limited	England & Wales	Ordinary	100%	Dormant
Hard Wired Supplements Limited	England & Wales	Ordinary	100%	Dormant
The Transform Hub Training Provider	England & Wales	Ordinary	50%	Dormant

...CONTINUED

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The Hub Fitness Group Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Investments - continued

The registered office of each subsidiary is:129 Woodplumpton Road, Fulwood, Preston PR2 3LF

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	19,440	10,440
Other debtors	23,750	8,206

	43,190	18,646
Due after more than one year
Amounts owed by group undertakings	403,748	537,856

	446,938	556,502

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	7,182	19,464
Amounts owed to group undertakings	-	23,552
Other creditors	101,864	186,725
Taxation and social security	72,785	10,126

	181,831	239,867

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	10,000	11,546

10. Pension Commitments

The company operates a defined contribution pension scheme for the employees of the group.

The assets of the scheme are held separately from those of the company in an independently administered fund.

At the balance sheet date unpaid contributions of £744 (2023 - £3,211) were due to the fund.

They are included in Other Creditors.

11. Reserves

Merger reserve

The merger reserve represents the difference between the nominal value of shares issued by the Company and the fair value of the shares in the subsidiary undertakings acquired at the time of the group reorganisation.

This reserve is non-distributable.

12. Related Party Transactions

As permitted by paragraph 33.1A of FRS 102, the Company has not disclosed transactions with wholly owned subsidiary undertakings.

No material transactions took place between the Company and any other related parties during the accounting period.

13. Ultimate Controlling Party

The company's ultimate controlling party is Mr J M Calderbank by virtue of his ownership of 80% of the issued share capital in the company.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		159,775		199,925
Tangible Assets	5		4,957		3,388
Investments	6		264,382		532,894

			429,114		736,207
CURRENT ASSETS
Debtors	7	446,938		556,502
Cash at bank and in hand		5,900		1,308

		452,838		557,810
Creditors: Amounts Falling Due Within One Year	8	(181,831 )		(239,867 )

NET CURRENT ASSETS (LIABILITIES)			271,007		317,943

TOTAL ASSETS LESS CURRENT LIABILITIES			700,121		1,054,150

NET ASSETS			700,121		1,054,150

CAPITAL AND RESERVES
Called up share capital	9		10,000		11,546
Share premium account			298,454		298,454
Capital redemption reserve			1,546		-
Merger reserve			579,800		579,800
Profit and Loss Account			(189,679 )		164,350

SHAREHOLDERS' FUNDS			700,121		1,054,150