Fit Club (Northwood) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10719701 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2019

for

Fit Club (Northwood) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr PS Walia

Mr H Lalani

Mr DS Chawla

REGISTERED OFFICE:

191 -193 Commercial Road

London

E1 2BT

REGISTERED NUMBER:

10719701 (England and Wales)

ACCOUNTANTS:

Aequitas

Chartered Accountants

Elthorne Gate

64 High Street

Pinner

HA5 5QA

FIXED ASSETS

Tangible assets

4

256,848

294,289

CURRENT ASSETS

Debtors

5

150,590

176,763

Cash at bank

19,602

28,974

170,192

205,737

CREDITORS

Amounts falling due within one year

6

714,056

670,565

NET CURRENT LIABILITIES

(543,864

)

(464,828

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(287,016

)

(170,539

)

CAPITAL AND RESERVES

Called up share capital

90

90

Retained earnings

(287,106

)

(170,629

)

(287,016

)

(170,539

)

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 August 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 and authorised for issue on 22 August 2020 and were signed on its behalf by:

Mr DS Chawla - Director

Mr H Lalani - Director

Mr PS Walia - Director

1.	STATUTORY INFORMATION

Fit Club (Northwood) Ltd 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.

Going Concern

The company incurred an operating loss of £116,629. The Company has net current liabilities of £543,864.

The directors have agreed not to seek repayment of their loan balance of £502,912 for 12 months from

the date of approval of these financial statements and provide continuous financial support. Accordingly

the directors continue to to adopt the going concern basis for preparing the financial statement.

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.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Taxation

Taxation for the year 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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 September 2018

137,525

138,446

30,547

2,676

309,194

Additions

-

-

8,910

-

8,910

Disposals

-

(3,142

)

-

-

(3,142

)

At 31 August 2019

137,525

135,304

39,457

2,676

314,962

DEPRECIATION

At 1 September 2018

3,943

8,978

1,816

168

14,905

Charge for year

8,906

26,528

7,267

508

43,209

At 31 August 2019

12,849

35,506

9,083

676

58,114

NET BOOK VALUE

At 31 August 2019

124,676

99,798

30,374

2,000

256,848

At 31 August 2018

133,582

129,468

28,731

2,508

294,289

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Trade debtors

17,856

13,131

Rent deposit

77,500

77,500

VAT

-

20,992

Prepayments

55,234

65,140

150,590

176,763

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Trade creditors

101,477

121,529

Taxation and social security

11,501

10,006

Other creditors

601,078

539,030

714,056

670,565

7.	LEASING AGREEMENTS

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

31.8.19

31.8.18

£

£

Within one year

148,111

148,111

Between one and five years

592,444

592,444

In more than five years

1,244,133

1,392,244

1,984,688

2,132,799