Beacon Sport & Fitness Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10675564 (England and Wales)

BEACON SPORT & FITNESS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Dr K Guo

REGISTERED OFFICE:

Beacon Sport And Fitness

Weston Road

Stafford

ST18 0BF

REGISTERED NUMBER:

10675564 (England and Wales)

FIXED ASSETS

Tangible assets

4

255,314

133,938

CURRENT ASSETS

Debtors

5

93,418

6,807

Cash at bank and in hand

23,161

27,707

116,579

34,514

CREDITORS

Amounts falling due within one year

6

(42,148

)

(232,406

)

NET CURRENT ASSETS/(LIABILITIES)

74,431

(197,892

)

TOTAL ASSETS LESS CURRENT LIABILITIES

329,745

(63,954

)

CREDITORS

Amounts falling due after more than one year

7

(33,451

)

(44,395

)

NET ASSETS/(LIABILITIES)

296,294

(108,349

)

CAPITAL AND RESERVES

Called up share capital

8

266,592

1

Retained earnings

29,702

(108,350

)

SHAREHOLDERS' FUNDS

296,294

(108,349

)

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 Profit and Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2023 and were signed by:

Dr K Guo - Director

1.	STATUTORY INFORMATION

Beacon Sport & 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

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.

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Memberships

Income from memberships is allocated to the period which the membership covers. All income relating to future periods is deferred and included in deferred income within creditors.

Sale of goods

Turnover from the sale of gym related products is recognised when significant risks and rewards ot ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rental income

Rental income from operating leases, net of any incentives given to the lessees, is recognised on a straight-line basis over the lease term.

Interest

Interest income is recognised using the effective interest method.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

5 - 10 years on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2022

141,461

Additions

139,617

At 31 December 2022

281,078

DEPRECIATION

At 1 January 2022

7,523

Charge for year

18,241

At 31 December 2022

25,764

NET BOOK VALUE

At 31 December 2022

255,314

At 31 December 2021

133,938

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

-

132

Amounts owed by group undertakings

81,122

-

Prepayments

12,296

6,675

93,418

6,807

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

9,627

5,399

Trade creditors

8,144

9,426

Amounts owed to group undertakings

-

201,591

Social security and other taxes

2,467

2,261

Pension control

496

287

VAT

17,744

3,555

Accruals and deferred income

3,670

9,887

42,148

232,406

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans - 1-2 years

9,871

9,628

Bank loans - 2-5 years

23,580

30,367

Bank loans more than 5 years

by instalments

-

4,400

33,451

44,395

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

-

4,400

-

4,400

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

266,592

Ordinary

£1

266,592

1

266,591 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jeremy G Hodgkiss (Senior Statutory Auditor)

for and on behalf of Deans