Weald Fitness Ltd - Limited company accounts 18.1d
Weald Fitness Ltd - Limited company accounts 18.1d
| REGISTERED NUMBER: |
| Report of the Directors and |
| Unaudited Financial Statements for the Year Ended 31 March 2018 |
| for |
| Weald Fitness Ltd |
| Weald Fitness Ltd (Registered number: 08901705) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 6 |
| Weald Fitness Ltd |
| Company Information |
| for the Year Ended 31 March 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 16 Reed Mace Drive |
| Bromsgrove |
| Worcestershire |
| B61 0UJ |
| Weald Fitness Ltd (Registered number: 08901705) |
| Report of the Directors |
| for the Year Ended 31 March 2018 |
| The directors present their report with the financial statements of the company for the year ended 31 March 2018. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of |
| provision of a fitness facility. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from |
| 1 April 2017 to the date of this report. |
| This report has been prepared in accordance with the provisions of Part 15 of |
| the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| Weald Fitness Ltd (Registered number: 08901705) |
| Income Statement |
| for the Year Ended 31 March 2018 |
| 31.3.18 | 31.3.17 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| (8,427 | ) | (48,704 | ) |
| Other operating income |
| OPERATING LOSS and |
| LOSS BEFORE TAXATION | ( |
) | ( |
) |
| Tax on loss |
| LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
| Weald Fitness Ltd (Registered number: 08901705) |
| Balance Sheet |
| 31 March 2018 |
| 31.3.18 | 31.3.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| Weald Fitness Ltd (Registered number: 08901705) |
| Balance Sheet - continued |
| 31 March 2018 |
| The financial statements were approved by the Board of Directors on |
| Weald Fitness Ltd (Registered number: 08901705) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| Weald Fitness Ltd is a |
| 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 |
| Turnover |
| Turnover is measured at the fair value of the consideration received or |
| receivable, excluding discounts, rebates, value added tax and other sales |
| taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial |
| recognition, intangible assets are measured at cost less any accumulated |
| amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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. |
| 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. |
| Weald Fitness Ltd (Registered number: 08901705) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | OPERATING LOSS |
| The operating loss is stated after charging: |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Depreciation - owned assets |
| Patents and licences amortisation |
| 5. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 April 2017 |
| and 31 March 2018 |
| AMORTISATION |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| The Intangible Asset relates to an Initial Franchise Fee which is being |
| amortised over the term of the agreement, 5 years. |
| Weald Fitness Ltd (Registered number: 08901705) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 6. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2017 |
| Additions |
| At 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Other creditors |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| Other Creditors due after one year relates to amounts owed to Director |
| Shareholders Charles Foulkes and Helen Partington. |