IPT FITNESS LIMITED


2019-08-012020-07-312020-07-31false08602199IPT FITNESS 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IPT FITNESS LIMITED

Registered Number
08602199
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 July 2020

IPT FITNESS LIMITED
Company Information
for the year from 1 August 2019 to 31 July 2020

Directors

LEULUNIU, Aimee Elizabeth
LEULUNIU, Masefau

Registered Address

Basepoint Business Centre C/O Crisp Accounting
Pine Grove
Crowborough
TN6 1DH

Registered Number

08602199 (England and Wales)
IPT FITNESS LIMITED
Balance Sheet as at
31 July 2020

Notes

2020

2019

£

£

£

£

Fixed assets
Tangible assets412,79316,691
12,79316,691
Current assets
Debtors87012,071
Cash at bank and on hand9,492-
10,36212,071
Creditors amounts falling due within one year(13,141)(21,386)
Net current assets (liabilities)(2,779)(9,315)
Total assets less current liabilities10,0147,376
Creditors amounts falling due after one year(5,166)-
Net assets4,8487,376
Capital and reserves
Called up share capital1002
Profit and loss account4,7487,374
Shareholders' funds4,8487,376
  • The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
  • The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved and authorised for issue by the Board of Directors on 23 April 2021, and are signed on its behalf by:
LEULUNIU, Aimee Elizabeth
Director
Registered Company No. 08602199
IPT FITNESS LIMITED
Notes to the Financial Statements
for the year ended 31 July 2020

1.STATUTORY INFORMATION
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:




Straight line (years)

Plant and machinery4
Fixtures and fittings10
Revenue recognition policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
3.EMPLOYEE INFORMATION




2020



2019

Average number of employees during the year22
4.PROPERTY, PLANT AND EQUIPMENT



Total
£

Cost or valuation
At 01 August 1933,825
Additions1,730
Disposals(1,617)
At 31 July 2031,552
Depreciation and impairment
At 01 August 1917,134
Charge for year4,011
At 31 July 2018,759
Net book value
At 31 July 2012,793
At 31 July 1916,691