One To One Fitness (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02987189 (England and Wales)

Financial Statements

for the Year Ended 30 April 2019

for

ONE TO ONE FITNESS (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

Mr J Anderson

Secretary:

Mr J Hutchison

Registered office:

305 Regents Park Road

Finchley

London

N3 1DP

Registered number:

02987189 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

305 Regents Park Road

Finchley

London

N3 1DP

Fixed assets

Tangible assets

4

2,772

2,002

Current assets

Debtors

5

-

120

Cash at bank

15,995

19,817

15,995

19,937

Creditors

Amounts falling due within one year

6

18,071

21,258

Net current liabilities

(2,076

)

(1,321

)

Total assets less current liabilities

696

681

Provisions for liabilities

471

380

Net assets

225

301

Capital and reserves

Called up share capital

8

100

100

Retained earnings

125

201

Shareholders' funds

225

301

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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.

The financial statements were approved by the director on 29 January 2020 and were signed by:

Mr J Anderson - Director

1.	Statutory information

One To One Fitness (UK) Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 historical cost convention.

The company has net current liabilities of £2,076 (2018: £1,321) and relies on the support of its director to ensure it meets

its liabilities as they fall due. On this basis, the director considers it appropriate to prepare the financial statements on the

going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this

support by the director.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to

make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of

contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the

reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by

management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible,

there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A review of the deferred tax provision is carried out by

management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there

remains a risk that the provisions does not match the actual tax liability or tax asset.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out

at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as

possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be

uncollectable.

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.

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the

contractual provisions of the instrument.

Trade debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction

price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A

provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the

contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity

instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its

liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. 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.

Deferred tax

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 have been

enacted or substantively enacted by the year end 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 probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

3.	Employees and directors

The average number of employees during the year was 1 (2018 - 1 ) .

4.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 May 2018

12,165

86,209

98,374

Additions

-

1,694

1,694

At 30 April 2019

12,165

87,903

100,068

Depreciation

At 1 May 2018

12,165

84,207

96,372

Charge for year

-

924

924

At 30 April 2019

12,165

85,131

97,296

Net book value

At 30 April 2019

-

2,772

2,772

At 30 April 2018

-

2,002

2,002

5.

Debtors: amounts falling due within one year

2019

2018

£

£

Other debtors

-

120

6.

Creditors: amounts falling due within one year

2019

2018

£

£

Trade creditors

1,555

1,748

Taxation and social security

1,388

6,622

Other creditors

15,128

12,888

18,071

21,258

7.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

14,000

14,000

Between one and five years

37,333

51,333

51,333

65,333

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100