M10 Nottingham Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08162070 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

M10 Nottingham Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

M J D Coles

REGISTERED OFFICE:

B3C Ground Floor

Chapel Quarter

Maid Marian Way

Nottingham

NG1 6HQ

REGISTERED NUMBER:

08162070 (England and Wales)

ACCOUNTANTS:

Taylor Dawson Plumb Limited

Chartered Accountants

22 Regent Street

Nottingham

NG1 5BQ

The following reproduces the text of the report prepared for the director and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of

Comprehensive Income and certain other primary statements and the Report of the Director are not

required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of M10 Nottingham Limited for the year ended 31 March 2017 which comprise the

Statement of Comprehensive Income, Balance Sheet, and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of M10 Nottingham Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M10 Nottingham Limited and state those matters that we have agreed to state to the director of M10 Nottingham Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M10 Nottingham Limited director for our work or for this report.

It is your duty to ensure that M10 Nottingham Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of M10 Nottingham Limited. You consider that M10 Nottingham Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of M10 Nottingham Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Taylor Dawson Plumb Limited

Chartered Accountants

Nottingham

11 December 2017

FIXED ASSETS

Tangible assets

4

162,740

191,590

CURRENT ASSETS

Stocks

10,103

8,605

Debtors

5

41,257

58,280

Cash at bank

91,364

22,226

142,724

89,111

CREDITORS

Amounts falling due within one year

6

488,342

468,210

NET CURRENT LIABILITIES

(345,618

)

(379,099

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(182,878

)

(187,509

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(182,978

)

(187,609

)

SHAREHOLDERS' FUNDS

(182,878

)

(187,509

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 11 December 2017 and were signed by:

M J D Coles - Director

1.	STATUTORY INFORMATION

M10 Nottingham 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "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 balance sheet on page 5 shows a net liability position of £182,878 (2016: £187,509). The principle

creditor is the parent company, M10 Fitness Limited, and amounts showing due within one year total

£380,421 (2016: £380,421). The parent company has provided assurances that these liabilities will not

be repayable until the company is in a position to do so, and it has agreed to continue to give support

to the company so that it can continue as a going concern for the foreseeable future. Therefore the

director considers it appropriate to prepare the accounts on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Income is recognised at the point the service is supplied.

Tangible fixed assets

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

Short leasehold property

-

in accordance with the property lease

Office equipment

-

33% on cost

Website development

-

33% on cost

Gym equipment

-

10% 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 Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been

enacted or substantively enacted by the balance sheet date.

Full provision is made for deferred tax assets and liabilities arising from timing differences between the

recognition of gains and losses in the accounts and their recognition for tax purposes.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2016

162,740

124,121

286,861

Additions

-

4,274

4,274

At 31 March 2017

162,740

128,395

291,135

DEPRECIATION

At 1 April 2016

56,804

38,467

95,271

Charge for year

16,315

16,809

33,124

At 31 March 2017

73,119

55,276

128,395

NET BOOK VALUE

At 31 March 2017

89,621

73,119

162,740

At 31 March 2016

105,936

85,654

191,590

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

9,521

30,435

Other debtors

31,736

27,845

41,257

58,280

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

8,526

21,177

Amounts owed to group undertakings

380,421

380,421

Taxation and social security

24,578

17,543

Other creditors

74,817

49,069

488,342

468,210

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

8.	FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance

sheet amount to £29,711 (2016: £89,133). This is almost entirely with respect to a property lease

commitment for the period from the year end to the end of the lease.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

M J D Coles

Balance outstanding at start of year

12,926

14,849

Amounts advanced

5,310

13,077

Amounts repaid

(9,131

)

(15,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,105

12,926

Interest of £486 (2016: £560) has been added to the director's loan account during the year.

10.	RELATED PARTY DISCLOSURES

A company owned by a close relative of the director, has provided guarantees in relation to the rental

operating lease and related costs.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related

party transactions with wholly owned subsidiaries.

11.	ULTIMATE PARENT COMPANY

The ultimate parent company is M10 Fitness Limited.

12.	FIRST YEAR ADOPTION

There has been no material effect on the financial statements following transition from UK GAAP to

FRS102 (section 1A). Therefore, no reconciliation of equity or reconciliation of profit has been included

in the financial statements to 31 March 2017.