Company No: 09866368 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Mr W M Turner

SECRETARY

Mrs H E Turner

REGISTERED OFFICE	39 Leigh Park
	Hapton
	Burnley
	BB11 5PD
	United Kingdom

COMPANY NUMBER

09866368 (England and Wales)

CHARTERED ACCOUNTANTS	PM+M Solutions for Business LLP
	New Century House
	Greenbank Technology Park
	Challenge Way
	Blackburn
	BB1 5QB

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	4	26,311		37,743
		26,311		37,743
Current assets
Stocks		98,000		47,500
Debtors	5	9,952		24,061
Cash at bank and in hand		107,008		19,085
		214,960		90,646
Creditors: amounts falling due within one year	6	( 107,046)		( 79,143)
Net current assets		107,914		11,503
Total assets less current liabilities		134,225		49,246
Creditors: amounts falling due after more than one year	7	( 126,275)		( 45,147)
Provision for liabilities		( 1,962)		( 1,418)
Net assets		5,988		2,681
Capital and reserves
Called-up share capital		1		1
Profit and loss account		5,987		2,680
Total shareholders' funds		5,988		2,681

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 financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of MT3 Fitness Limited (registered number: 09866368) were approved and authorised for issue by the Director on 07 November 2025. They were signed on its behalf by:

Mr W M Turner Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

MT3 Fitness Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 39 Leigh Park, Hapton, Burnley, BB11 5PD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	10 years straight line
Plant and machinery etc.	3 - 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials only.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, which are described in note 1, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the financial year in which the estimate is revised if the revision affects only that financial year, or in the financial year of the revision and future financial years if the revision affects both current and future financial years.

The director does not consider that any critical judgements have been made in the application of the Company's accounting policies and no key sources of estimation uncertainty have been identified that have a significant risk of causing a material misstatement to the carrying amount of assets and liabilities within the financial year.

3. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	5		4

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 December 2023	5,170		66,398		71,568
At 30 November 2024	5,170		66,398		71,568
Accumulated depreciation
At 01 December 2023	1,034		32,791		33,825
Charge for the financial year	517		10,915		11,432
At 30 November 2024	1,551		43,706		45,257
Net book value
At 30 November 2024	3,619		22,692		26,311
At 30 November 2023	4,136		33,607		37,743

5. Debtors

	2024		2023
	£		£
Trade debtors	0		22,579
Other debtors	9,952		1,482
	9,952		24,061

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	5,445		6,659
Trade creditors	187		4,135
Amounts owed to related parties	5,509		3,158
Other taxation and social security	71,991		41,586
Obligations under finance leases and hire purchase contracts	4,038		4,481
Other creditors	19,876		19,124
	107,046		79,143

Obligations under finance leases and hire purchase contracts are secured against assets to which they relate.

Other creditors includes a loan of £12,681 (2023 - £Nil) due to Funding Circle. The loan is secured by a personal guarantee of the director.

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	24,555		29,076
Obligations under finance leases and hire purchase contracts	14,019		16,071
Other creditors	87,701		0
	126,275		45,147

Obligations under finance leases and hire purchase contracts are secured against assets to which they relate.

Other creditors includes a loan of £87,701 (2023 - £Nil) due to Funding Circle. The loan is secured by a personal guarantee of the director.