Life Corporate Gyms Ltd 31/05/2019 iXBRL

Life Corporate Gyms Ltd 31/05/2019 iXBRL

LIFE CORPORATE GYMS LTD - Company Information

Print Friendly Version

31/05/2019 2019-05-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2018-06-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 06767464 2018-06-01 2019-05-31 06767464 2019-05-31 06767464 2017-06-01 2018-05-31 06767464 2018-05-31 06767464 bus:RegisteredOffice 2018-06-01 2019-05-31 06767464 bus:LeadAgentIfApplicable 2018-06-01 2019-05-31 06767464 bus:Director1 2018-06-01 2019-05-31 06767464 bus:Director2 2018-06-01 2019-05-31 06767464 core:WithinOneYear 2019-05-31 06767464 core:WithinOneYear 2018-05-31 06767464 core:ShareCapital 2019-05-31 06767464 core:ShareCapital 2018-05-31 06767464 core:RetainedEarningsAccumulatedLosses 2019-05-31 06767464 core:RetainedEarningsAccumulatedLosses 2018-05-31 06767464 bus:SmallEntities 2018-06-01 2019-05-31 06767464 bus:AuditExemptWithAccountantsReport 2018-06-01 2019-05-31 06767464 bus:FullAccounts 2018-06-01 2019-05-31 06767464 bus:SmallCompaniesRegimeForAccounts 2018-06-01 2019-05-31 06767464 bus:PrivateLimitedCompanyLtd 2018-06-01 2019-05-31 06767464 core:OtherRelatedParties 2018-06-01 2019-05-31
Company registration number: 06767464
Life Corporate Gyms Ltd
Unaudited filleted financial statements
31 May 2019
Life Corporate Gyms Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Life Corporate Gyms Ltd
Directors and other information
Directors Mr Daniel Madge (Resigned 01.06.19)
Mr Jason Mayoh (Appointed 01.06.19)
Company number 06767464
Registered office 33 Newall Road
Manchester
M23 2TY
Business address 33 Newall Road
Manchester
M23 2TY
Accountants Morgan Hemp
103-104 Walter Road
Swansea
SA1 5QF
Life Corporate Gyms Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Life Corporate Gyms Ltd
Year ended 31 May 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Life Corporate Gyms Ltd for the year ended 31 May 2019 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Life Corporate Gyms Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Life Corporate Gyms Ltd and state those matters that we have agreed to state to the board of directors of Life Corporate Gyms Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Life Corporate Gyms Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Life Corporate Gyms Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Life Corporate Gyms Ltd. You consider that Life Corporate Gyms Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Life Corporate Gyms Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Morgan Hemp
103-104 Walter Road
Swansea
SA1 5QF
11 February 2020
Life Corporate Gyms Ltd
Statement of financial position
31 May 2019
2019 2018
Note £ £ £ £
Current assets
Debtors 5 83 91
Cash at bank and in hand 64 557
_______ _______
147 648
Creditors: amounts falling due
within one year 6 ( 909) ( 1,479)
_______ _______
Net current liabilities ( 762) ( 831)
_______ _______
Total assets less current liabilities ( 762) ( 831)
_______ _______
Net liabilities ( 762) ( 831)
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account ( 764) ( 833)
_______ _______
Shareholders deficit ( 762) ( 831)
_______ _______
For the year ending 31 May 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 11 February 2020 , and are signed on behalf of the board by:
Mr Jason Mayoh (Appointed 01.06.19)
Director
Company registration number: 06767464
Life Corporate Gyms Ltd
Notes to the financial statements
Year ended 31 May 2019
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Life Corporate Gyms Ltd, 33 Newall Road, Manchester, M23 2TY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2018: 2 ).
5. Debtors
2019 2018
£ £
Other debtors 83 91
_______ _______
6. Creditors: amounts falling due within one year
2019 2018
£ £
Bank loans and overdrafts 398 -
Other creditors 511 1,479
_______ _______
909 1,479
_______ _______
7. Related party transactions
Included in creditors is a balance owed to the shareholder Mrs J Watkins £0 (2018: £489).Included in creditors is a balance of £0 (2018: £300) owed to Lifeline Assist Limited, a company connected to the shareholder Mrs J Watkins.