In And Out Fitness Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC404303 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 AUGUST 2018 TO 31 MARCH 2019

FOR

IN AND OUT FITNESS AUCHTERARDER LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr O J Jessop

Mrs M Piper

REGISTERED OFFICE:

Q Court

3 Quality Street

Edinburgh

Lothian

EH4 5BP

REGISTERED NUMBER:

SC404303 (Scotland)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

FIXED ASSETS

Tangible assets

4

3,593

5,386

CURRENT ASSETS

Cash at bank

12,659

17,840

CREDITORS

Amounts falling due within one year

5

15,093

18,309

NET CURRENT LIABILITIES

(2,434

)

(469

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,159

4,917

PROVISIONS FOR LIABILITIES

6

611

1,024

NET ASSETS

548

3,893

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

547

3,892

SHAREHOLDERS' FUNDS

548

3,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 24 December 2019 and were signed on its behalf by:

Mr O J Jessop - Director

1.	STATUTORY INFORMATION

In And Out Fitness Auchterarder Ltd is a private company, limited by shares , registered in Scotland. The

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

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the

historical cost convention.

At 31 March 2019, the company had net current liabilities exceeding net current assets by £2,434 (As at 31

July 2018 - £469). The company relies on the continued support of the directors to finance its short term

working capital requirements. The directors considers it appropriate to prepare the statements on a going

concern basis as they expect that this support will continue for the foreseeable future.

TURNOVER

Turnover represents the provision of fitness and health services to clients, excluding value added tax.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% per annum on cost

TAXATION

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 period 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 period was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 August 2018

and 31 March 2019

10,774

DEPRECIATION

At 1 August 2018

5,388

Charge for period

1,793

At 31 March 2019

7,181

NET BOOK VALUE

At 31 March 2019

3,593

At 31 July 2018

5,386

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

7,162

5,693

Other creditors

7,931

12,616

15,093

18,309

6.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

611

1,024

Deferred

tax

£

Balance at 1 August 2018

1,024

Provided during period

(413

)

Balance at 31 March 2019

611

7.	RELATED PARTY DISCLOSURES

Included within 'Other creditors' is an amount of £3,308 (2018 - £3,841) due to the directors from the

company.

The loan is interest free and has no fixed term of repayment.