Xtr Fitness Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12324851 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

XTR FITNESS LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

DIRECTOR:

C V Crotchett

REGISTERED OFFICE:

Unit 1, The Maltings,

Navigation Drive

Hurst Business Park

Brierley Hill

DY5 1UT

REGISTERED NUMBER:

12324851 (England and Wales)

ACCOUNTANT:

Sarah Garside FCA

6 Longway Avenue

Charlton Kings

Cheltenham

Gloucestershire

GL53 9JL

FIXED ASSETS

Tangible assets

4

7,200

9,600

CURRENT ASSETS

Stocks

204,096

91,860

Debtors

5

11,761

13,269

Cash at bank

23,286

2,694

239,143

107,823

CREDITORS

Amounts falling due within one year

6

362,575

151,798

NET CURRENT LIABILITIES

(123,432

)

(43,975

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(116,232

)

(34,375

)

CREDITORS

Amounts falling due after more than one year

7

25,000

25,000

NET LIABILITIES

(141,232

)

(59,375

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(141,332

)

(59,475

)

SHAREHOLDERS' FUNDS

(141,232

)

(59,375

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 August 2022 and were signed by:

C V Crotchett - Director

1.	STATUTORY INFORMATION

Xtr Fitness 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.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

At the balance sheet date the company had net liabilities of £141,232. The Director has loaned the company £142,080 and will not seek repayment in priority to other creditors. In addition, the company has a Bounce Back loan which will be repaid according to it's terms and on this basis, the Director considers it appropriate to prepare the accounts as a going concern.

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 etc

-

20% on cost

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - 1 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2020

and 30 November 2021

12,000

DEPRECIATION

At 1 December 2020

2,400

Charge for year

2,400

At 30 November 2021

4,800

NET BOOK VALUE

At 30 November 2021

7,200

At 30 November 2020

9,600

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Other debtors

11,761

13,269

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Hire purchase contracts

-

40,000

Other creditors

362,575

111,798

362,575

151,798

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.21

30.11.20

£

£

Bank loans

25,000

25,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.21

30.11.20

value:

£

£

100

Ordinary

1

100

100

9.	ULTIMATE CONTROLLING PARTY

The controlling party is C V Crotchett.