Company registration number 15405860 (England and Wales)
CROSSFIT NE23 LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 21 JULY 2024
PAGES FOR FILING WITH REGISTRAR
CROSSFIT NE23 LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CROSSFIT NE23 LTD
BALANCE SHEET
AS AT 21 JULY 2024
21 July 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
33,609
Current assets
Debtors
4
3,330
Cash at bank and in hand
2,101
5,431
Creditors: amounts falling due within one year
5
(44,744)
Net current liabilities
(39,313)
Net liabilities
(5,704)
Capital and reserves
Called up share capital
6
1
Profit and loss reserves
(5,705)
Total equity
(5,704)

For the financial period ended 21 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 14 April 2026
J Wallace
Director
Company registration number 15405860 (England and Wales)
CROSSFIT NE23 LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 21 JULY 2024
- 2 -
1
Accounting policies
Company information

CrossFit NE23 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5d Nelson Park West, Admiral Business Park, Cramlington, NE23 1WG.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

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.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Assets are reviewed for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
12% straight line
Plant and equipment
12% straight line

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.

1.5
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 current liabilities.

CROSSFIT NE23 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 21 JULY 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans and amounts owed to group undertakings, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.8
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

As lessor

When the company acts as a lessor, a lease is classified as a finance lease whenever it transfers substantially all the risks and rewards of ownership of the underlying asset to the lessee, either at the end of the lease term or for the major part of the economic life of the asset. All other leases are classified as operating leases. If an arrangement contains both lease and non-lease components, the company allocates the consideration in the contract to the two elements.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

CROSSFIT NE23 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 21 JULY 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
1
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Total
£
£
£
Cost
At 11 January 2024
-
0
-
0
-
0
Additions
5,759
30,380
36,139
At 21 July 2024
5,759
30,380
36,139
Depreciation and impairment
At 11 January 2024
-
0
-
0
-
0
Depreciation charged in the period
403
2,127
2,530
At 21 July 2024
403
2,127
2,530
Carrying amount
At 21 July 2024
5,356
28,253
33,609
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
3,330
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
800
Other creditors
43,944
44,744
CROSSFIT NE23 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 21 JULY 2024
- 5 -
6
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary of £1 each
1
1

On incorporation, 1 ordinary share of £1 was issued at par for cash.

7
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
£
Total commitments
227,120
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