One To One Fitness (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02987189 (England and Wales)

Financial Statements

for the Year Ended 30 April 2018

for

ONE TO ONE FITNESS (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

Mr J Anderson

Secretary:

Mr J Hutchison

Registered office:

305 Regents Park Road

Finchley

London

N3 1DP

Registered number:

02987189 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

305 Regents Park Road

Finchley

London

N3 1DP

Fixed assets

Tangible assets

4

2,002

2,669

Current assets

Debtors

5

120

-

Cash at bank

19,817

18,021

19,937

18,021

Creditors

Amounts falling due within one year

6

21,258

19,654

Net current liabilities

(1,321

)

(1,633

)

Total assets less current liabilities

681

1,036

Provisions for liabilities

380

532

Net assets

301

504

Capital and reserves

Called up share capital

8

100

100

Retained earnings

201

404

Shareholders' funds

301

504

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 25 January 2019 and were signed by:

Mr J Anderson - Director

1.	Statutory information

One To One Fitness (UK) 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 company has net current liabilities of £1,321 (2017: £1,633) and relies on the support of its director to

ensure it meets its liabilities as they fall due. On this basis, the director considers it appropriate to prepare the

financial statements on the going concern basis. The financial statements do not include any adjustments that

would result from a withdrawal of this support by the director.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out

by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as

possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A review of the deferred tax provision is carried out

by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible,

there remains a risk that the provisions does not match the actual tax liability or tax asset.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is

carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are

as accurate as possible, there remains a risk that the provisions do not match the level of debts which

ultimately prove to be uncollectable.

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a

party to the contractual provisions of the instrument.

Trade debtors and creditors are classified as basic financial instruments and measured at initial recognition at

transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective

interest rate method. A provision is established when there is objective evidence that the company will not be

able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at

bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

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.

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.

3.	Employees and directors

The average number of employees during the year was 1 (2017 - 1 ) .

4.	Tangible fixed assets

Short

Improvements

Plant and

leasehold

to property

machinery

£

£

£

Cost

At 1 May 2017

and 30 April 2018

12,165

67,619

6,433

Depreciation

At 1 May 2017

12,165

67,619

4,426

Charge for year

-

-

501

At 30 April 2018

12,165

67,619

4,927

Net book value

At 30 April 2018

-

-

1,506

At 30 April 2017

-

-

2,007

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 May 2017

and 30 April 2018

9,556

2,601

98,374

Depreciation

At 1 May 2017

8,894

2,601

95,705

Charge for year

166

-

667

At 30 April 2018

9,060

2,601

96,372

Net book value

At 30 April 2018

496

-

2,002

At 30 April 2017

662

-

2,669

5.

Debtors: amounts falling due within one year

2018

2017

£

£

Other debtors

120

-

6.

Creditors: amounts falling due within one year

2018

2017

£

£

Trade creditors

1,748

1,227

Taxation and social security

6,622

5,686

Other creditors

12,888

12,741

21,258

19,654

7.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

14,000

14,000

Between one and five years

51,333

65,333

65,333

79,333

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100