U Fit Community Leisure Ltd
U Fit Community Leisure Ltd
Registered number: 08447956
Unaudited Financial Statements
For The Year Ended
30 August 2022
JK Accountancy
U Fit Community Leisure Ltd
Unaudited Financial Statements
For The Year Ended
30 August 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2—3 |
U Fit Community Leisure Ltd
Balance Sheet
As at
30 August 2022
Balance Sheet
Registered number:
08447956
For the year ending 30 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 30 August 2022 | 30 August 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| CURRENT ASSETS | |||||
| Debtors | 3 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 5 |
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| NET LIABILITIES |
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| Income and Expenditure Account |
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| MEMBERS' FUNDS | (363) | (2,520) | |||
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
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Director
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The notes on pages 2 to 3 form part of these financial statements.
U Fit Community Leisure Ltd
Notes to the Financial Statements
For The Year Ended
30 August 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
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1.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.5.
Government Grant
Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.
U Fit Community Leisure Ltd
Notes to the Financial Statements (continued)
For The Year Ended
30 August 2022
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 14 (2021: 12)
3.
Debtors
| 30 August 2022 | 30 August 2021 | ||
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| £ | £ | ||
| Due within one year | |||
| Other debtors | 163,393 | 102,895 | |
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4.
Creditors: Amounts Falling Due Within One Year
| 30 August 2022 | 30 August 2021 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Other creditors | 70,248 | 27,826 | |
| Taxation and social security | 2,387 | 9,673 | |
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5.
Creditors: Amounts Falling Due After More Than One Year
| 30 August 2022 | 30 August 2021 | ||
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| £ | £ | ||
| Bank loans |
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6.
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
7.
General Information
U Fit Community Leisure Ltd
is a private company, limited by guarantee, incorporated in England & Wales, registered number
08447956
. The registered office is Unit 1b, Trident Park Ocean Way, Glass Avenue, Cardiff, CF24 5EN.