| MP Fit Gyms Limited |
| Registered number: |
07761394 |
| Balance Sheet |
| as at 31 October 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
6,800 |
|
|
8,160 |
| Tangible assets |
3 |
|
|
90,302 |
|
|
28,237 |
|
|
|
|
97,102 |
|
|
36,397 |
|
| Current assets |
| Debtors |
4 |
|
18,043 |
|
|
33,588 |
| Cash at bank and in hand |
|
|
26,148 |
|
|
- |
|
|
|
44,191 |
|
|
33,588 |
|
| Creditors: amounts falling due within one year |
5 |
|
(127,581) |
|
|
(48,414) |
|
| Net Current Assets |
|
|
|
(83,390) |
|
|
(14,826) |
|
| Total assets less current liabilities |
|
|
|
13,712 |
|
|
21,571 |
|
|
| Provisions for liabilities |
|
|
|
(18,060) |
|
|
(370) |
|
|
| Net assets |
|
|
|
(4,348) |
|
|
21,201 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
167 |
|
|
100 |
| Share premium |
|
|
|
9,933 |
|
|
- |
| Profit and loss account |
|
|
|
(14,448) |
|
|
21,101 |
|
| Shareholders' funds |
|
|
|
(4,348) |
|
|
21,201 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr M Halstead |
| Director |
| Approved by the board on 11 July 2017 |
|
| MP Fit Gyms Limited |
| Notes to the Accounts |
| for the year ended 31 October 2016 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
25% Reducing balance |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 November 2015 |
13,600 |
|
At 31 October 2016 |
13,600 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 November 2015 |
5,440 |
|
Provided during the year |
1,360 |
|
At 31 October 2016 |
6,800 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2016 |
6,800 |
|
At 31 October 2015 |
8,160 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years. |
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 November 2015 |
57,739 |
|
Additions |
92,166 |
|
At 31 October 2016 |
149,905 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2015 |
29,502 |
|
Charge for the year |
30,101 |
|
At 31 October 2016 |
59,603 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2016 |
90,302 |
|
At 31 October 2015 |
28,237 |
|
| 4 |
Debtors |
2016 |
|
2015 |
| £ |
£ |
|
|
Other debtors |
18,043 |
|
33,588 |
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
| £ |
£ |
|
|
Bank loans and overdrafts |
- |
|
4,566 |
|
Trade creditors |
30,700 |
|
22,780 |
|
Corporation tax |
(3,030) |
|
3,030 |
|
Other taxes and social security costs |
- |
|
10,962 |
|
Other creditors |
99,911 |
|
7,076 |
|
|
|
|
|
|
127,581 |
|
48,414 |
