Company registration number: 12438964
Unaudited financial statements
for the year ended 28 February 2025
for
Victory Lap Ltd
Pages for filing with the Registrar
Company registration number: 12438964
Victory Lap Ltd
Balance sheet
as at 28 February 2025
28 Feb 25 28 Feb 24
Note £ £ £ £
Fixed assets
Tangible assets 4 29,102 30,748
29,102 30,748
Current assets
Debtors 4,050 4,051
Cash at bank and in hand 14,008 20,171
18,058 24,222
Creditors: amounts falling due within one
year 		(15,918) (15,961)
Net current assets 2,140 8,261
Total assets less current liabilities 31,242 39,009
Creditors: Amounts falling due after more
than one year 		(9,292) (13,343)
Provisions for liabilities (5,529) -
NET ASSETS 16,421 25,666
Capital and reserves
Called up share capital 1 1
Profit and loss account 16,420 25,665
TOTAL EQUITY 16,421 25,666
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 28 February 2025.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 12438964
Victory Lap Ltd
Balance sheet - continued
as at 28 February 2025
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 15 October 2025 and signed on its behalf by:
Mr S Mackrell, Director
15 October 2025
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Victory Lap Ltd
Notes to the financial statements
for the year ended 28 February 2025
1 Company information
Victory Lap Ltd is a private company registered in England and Wales. Its registered number is 12438964. The company is limited by shares. Its registered office is Victory Lap Fitness 28 Shamrock Way, Hythe, Southampton, SO45 6DY.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
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.
Plant and machinery etc.:
Plant and machinery - 10% straight line
Motor vehicles - 10% straight line
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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Victory Lap Ltd
Notes to the financial statements - continued
for the year ended 28 February 2025
2 Accounting policies - continued
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that been enacted or substantively enacted by the balance sheet date and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
3 Average number of employees
During the year the average number of employees was 1 (2024 - 1).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 29 February 2024 52,250
Additions 3,981
At 28 February 2025 56,231
Depreciation
At 29 February 2024 21,502
Charge for year 5,627
At 28 February 2025 27,129
Net book value
At 28 February 2025 29,102
At 28 February 2024 30,748
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Victory Lap Ltd
Notes to the financial statements - continued
for the year ended 28 February 2025
5 Advances, credit and guarantees granted to directors
The following advances and credits to a director subsisted during the periods ended 28 February 2025 and 28 February 2024.
28 Feb 25 28 Feb 24
£ £
Stuart Mackrell
Balance outstanding at start of year (1,435) (678)
Amounts advanced 43,516 38,343
Amounts repaid (42,438) (39,100)
Balance outstanding at end of year (357) (1,435)
6 Share capital
The issued share capital of the company is as follows:

1 ordinary share at the nominal value of £1

All shares are fully paid. Each ordinary share carries one vote and is entitled to dividends.
7 Debtors: Amounts falling due within one year:
Other debtors: £4,050 (2024: £4,050)
8 Creditors: Amounts falling due within one year:
Corporation tax: £6,524 (2024: £5,767)
Other taxation and social security: £3,214 (2024: £274)
Bank loans: £5,824 (2024: £7,025)
Other creditors: £357 (2024: £2,895)
9 Creditors: amounts falling due after more than one year:
Bank loans: £9,292 (£13,343)
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