JM Fitness Employment Co. Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10601729 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

30TH DECEMBER 2018 TO 31ST DECEMBER 2019

FOR

JM FITNESS EMPLOYMENT CO. LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

B Ashby

J Weeks III

P J Kuebler

REGISTERED OFFICE:

240 Upper Street

Islington

London

N1 1RU

REGISTERED NUMBER:

10601729 (England and Wales)

ACCOUNTANTS:

Howards Limited

Chartered Certified Accountants

Newport House

Newport Road

Stafford

Staffordshire

ST16 1DA

CURRENT ASSETS

Debtors

5

72,906

94,212

TOTAL ASSETS LESS CURRENT LIABILITIES

72,906

94,212

ACCRUALS AND DEFERRED INCOME

(100,712

)

(100,712

)

NET LIABILITIES

(27,806

)

(6,500

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(28,806

)

(7,500

)

(27,806

)

(6,500

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th December 2020 and were signed on its behalf by:

P J Kuebler - Director

1.	STATUTORY INFORMATION

JM Fitness Employment Co. Limited is a private company, limited by shares, registered in England and Wales.

The company's registered number is 10601729 and the registered office address is 240 Upper Street, Islington,

London, N1 1RU.

The principal activity of the company is the provision of employees to other group companies.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis and under the historical cost

convention.

Functional currency

The financial statements are prepared in sterling (£) which is the functional currency of the company.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In determining and applying accounting policies, judgement is often required in respect of items where the

choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported

results or net asset position of the company. It may later be determined that a different choice would have been

more appropriate. Management considers that certain accounting estimates and assumptions relating to

revenue, taxation, stock and provisions are its critical accounting policies.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is

recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an

asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective

interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss

is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference

between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the

company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when

there is an 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.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Going concern

In common with most other businesses we are operating in uncertain times as a result of the Coronavirus and

the impact that it has had an all businesses large and small. Although we will be eligible for some Government

aid at the moment we do not know how long the situation will continue. The directors are taking all reasonable

steps to ensure continued operations and believe that it is appropriate to continue to prepare the accounts on

the going concern basis.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 53 (2018 - 25 ) .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

29.12.18

£

£

Amounts owed by group undertakings

72,906

92,712

Other debtors

-

1,500

72,906

94,212

6.	ULTIMATE PARENT COMPANY

The company's parent company is JM Fitness Studios Limited. The companies registered office addresses are

240 Upper Street, Islington, London, N1 1RU.

The ultimate parent company is JWC Peach Holdings LP, it's address is C/o Prospect Hill Growth Partners LP,

500 Totten Pond Road, Floor 6, Waltham, MA 02451.