European Fitness League Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09004034 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

EUROPEAN FITNESS LEAGUE LTD

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

D Moorhouse

O Mansbridge

REGISTERED OFFICE:

The Business Studio

Southstoke Hall

Southstoke

Bath

BA2 7DL

REGISTERED NUMBER:

09004034 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the directors 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 Income Statement and certain

other primary statements and the Report of the Directors 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 European Fitness League Ltd for the year ended 31 December 2017 which

comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Board of Directors of European Fitness League Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of European Fitness League Ltd and state those matters that we have agreed to state to the Board of Directors of European Fitness League Ltd, as a body, 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 European Fitness League Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that European Fitness League Ltd 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 loss of European Fitness League Ltd. You consider that European Fitness League Ltd 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 European Fitness League Ltd. 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.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

11 July 2018

FIXED ASSETS

Intangible assets

4

11,004

13,331

Tangible assets

5

21,859

3,001

Investments

6

-

1

32,863

16,333

CURRENT ASSETS

Stocks

-

361

Debtors

7

1,837

8,450

Cash at bank

56,545

59,249

58,382

68,060

CREDITORS

Amounts falling due within one year

8

115,826

34,639

NET CURRENT (LIABILITIES)/ASSETS

(57,444

)

33,421

TOTAL ASSETS LESS CURRENT LIABILITIES

(24,581

)

49,754

CAPITAL AND RESERVES

Called up share capital

9

108

108

Share premium

210,007

210,007

Retained earnings

(234,696

)

(160,361

)

SHAREHOLDERS' FUNDS

(24,581

)

49,754

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 31 May 2018 and were signed on its behalf by:

D Moorhouse - Director

1.	STATUTORY INFORMATION

European Fitness League Ltd 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 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.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Revenue is recognised when services are rendered.

Other intangible assets

Other Intangible Assets consist of capitalised website costs and are amortised on a straight line basis

over three years.

Tangible fixed assets

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

Fixtures & fittings

-

25% on cost

Investments in subsidiaries

Fixed asset investments are stated at cost less provision for diminution in value.

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 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an asset's carrying amount and the present value of estimated cash flows discounted at the

asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an asset's carrying amount and the best estimate, which is an approximation, of

the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there

is an enforceable right to set off the recognised amounts and there is an intention to settle on a net

basis or to realise the asset and settle the liability simultaneously.

Going concern

The financial statements have been prepared on a going concern basis. The directors have confirmed

their continuing support.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2017

43,864

Additions

9,056

At 31 December 2017

52,920

AMORTISATION

At 1 January 2017

30,533

Charge for year

11,383

At 31 December 2017

41,916

NET BOOK VALUE

At 31 December 2017

11,004

At 31 December 2016

13,331

5.	TANGIBLE FIXED ASSETS

Fixtures

& fittings

£

COST

At 1 January 2017

5,336

Additions

26,923

At 31 December 2017

32,259

DEPRECIATION

At 1 January 2017

2,335

Charge for year

8,065

At 31 December 2017

10,400

NET BOOK VALUE

At 31 December 2017

21,859

At 31 December 2016

3,001

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2017

1

Disposals

(1

)

At 31 December 2017

-

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,150

8,360

Other debtors

687

90

1,837

8,450

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

5,129

Trade creditors

1,354

3

Taxation and social security

6,592

243

Other creditors

107,880

29,264

115,826

34,639

9.	CALLED UP SHARE CAPITAL

Allotted issued and fully paid:

Number:

Class:

Nominal Value:

£

7,000

Ordinary A

1p

70.00

750

Ordinary B

1p

7.50

750

Ordinary C

1p

7.50

2,293

Ordinary D

1p

22.93

107.93

Ordinary A and C shares are ordinary participating shares confirming the right to one vote per share

and to participate in dividends and distributions and in any surplus on a winding up.

Ordinary B and D shares are non voting shares confirming the right to participate in dividends and

distributions and in any surplus on a winding up.

10.	CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTIES

No significant judgements or key assumptions have had to be made by the directors in preparing

these financial statements.