1 The Fitness Project Ltd - Period Ending 2022-03-31

1 THE FITNESS PROJECT LTD - Company Information

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Registration number: 13287131

1 The Fitness Project Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Period from 23 March 2021 to 31 March 2022

1 The Fitness Project Ltd

Contents

Abridged Balance Sheet	1
Notes to the Unaudited Abridged Financial Statements	2 to 3

1 The Fitness Project Ltd

(Registration number: 13287131)
Abridged Balance Sheet as at 31 March 2022

	Note	2022 £
Fixed assets
Tangible assets	3	13,198
Creditors: Amounts falling due within one year		(9,015)
Net assets		4,183
Capital and reserves
Called up share capital		10
Retained earnings		4,173
Shareholders' funds		4,183

For the financial period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 22 December 2022

.........................................
J Massaro
Director

1 The Fitness Project Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 23 March 2021 to 31 March 2022

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Equipment	10% reducing balance
Office equipment	Over 3 years

Financial instruments

The company is party to only the basic financial instruments such as cash, trade debtors and creditors and loans. Instruments such as trade debtors and trade creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate.

1 The Fitness Project Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 23 March 2021 to 31 March 2022

2	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

3	Tangible assets

	Furniture, fittings and equipment £	Other tangible assets £	Total £
Cost or valuation
Additions	1,100	13,849	14,949
At 31 March 2022	1,100	13,849	14,949
Depreciation
Charge for the period	367	1,384	1,751
At 31 March 2022	367	1,384	1,751
Carrying amount
At 31 March 2022	733	12,465	13,198