FITXR LIMITED

FITXR LIMITED

FITXR LIMITED - Company Information

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2020-04-012020-12-312020-12-31false10652116FITXR LIMITED2021-09-3062011iso4217:GBPxbrli:pure106521162020-04-01106521162020-12-31106521162020-04-012020-12-31106521162019-04-01106521162020-03-31106521162019-04-012020-03-3110652116bus:SmallEntities2020-04-012020-12-3110652116bus:AuditExempt-NoAccountantsReport2020-04-012020-12-3110652116bus:AbridgedAccounts2020-04-012020-12-3110652116bus:PrivateLimitedCompanyLtd2020-04-012020-12-3110652116core:WithinOneYear2020-12-3110652116core:AfterOneYear2020-12-3110652116core:WithinOneYear2020-03-3110652116core:AfterOneYear2020-03-3110652116core:ShareCapital2020-12-3110652116core:SharePremium2020-12-3110652116core:RevaluationReserve2020-12-3110652116core:OtherReservesSubtotal2020-12-3110652116core:RetainedEarningsAccumulatedLosses2020-12-3110652116core:ShareCapital2020-03-3110652116core:SharePremium2020-03-3110652116core:RevaluationReserve2020-03-3110652116core:OtherReservesSubtotal2020-03-3110652116core:RetainedEarningsAccumulatedLosses2020-03-3110652116core:LandBuildings2020-12-3110652116core:PlantMachinery2020-12-3110652116core:Vehicles2020-12-3110652116core:FurnitureFittings2020-12-3110652116core:OfficeEquipment2020-12-3110652116core:NetGoodwill2020-12-3110652116core:IntangibleAssetsOtherThanGoodwill2020-12-3110652116core:ListedExchangeTraded2020-12-3110652116core:UnlistedNon-exchangeTraded2020-12-3110652116core:LandBuildings2020-03-3110652116core:PlantMachinery2020-03-3110652116core:Vehicles2020-03-3110652116core:FurnitureFittings2020-03-3110652116core:OfficeEquipment2020-03-3110652116core:NetGoodwill2020-03-3110652116core:IntangibleAssetsOtherThanGoodwill2020-03-3110652116core:ListedExchangeTraded2020-03-3110652116core:UnlistedNon-exchangeTraded2020-03-3110652116core:LandBuildings2020-04-012020-12-3110652116core:PlantMachinery2020-04-012020-12-3110652116core:Vehicles2020-04-012020-12-3110652116core:FurnitureFittings2020-04-012020-12-3110652116core:OfficeEquipment2020-04-012020-12-3110652116core:NetGoodwill2020-04-012020-12-3110652116core:IntangibleAssetsOtherThanGoodwill2020-04-012020-12-3110652116core:ListedExchangeTraded2020-04-012020-12-3110652116core:UnlistedNon-exchangeTraded2020-04-012020-12-3110652116core:MoreThanFiveYears2020-04-012020-12-3110652116core:Non-currentFinancialInstruments2020-12-3110652116core:Non-currentFinancialInstruments2020-03-3110652116dpl:CostSales2020-04-012020-12-3110652116dpl:DistributionCosts2020-04-012020-12-3110652116dpl:AdministrativeExpenses2020-04-012020-12-3110652116core:LandBuildings2020-04-012020-12-3110652116core:PlantMachinery2020-04-012020-12-3110652116core:Vehicles2020-04-012020-12-3110652116core:FurnitureFittings2020-04-012020-12-3110652116core:OfficeEquipment2020-04-012020-12-3110652116core:NetGoodwill2020-04-012020-12-3110652116core:IntangibleAssetsOtherThanGoodwill2020-04-012020-12-3110652116dpl:GroupUndertakings2020-04-012020-12-3110652116dpl:ParticipatingInterests2020-04-012020-12-3110652116dpl:GroupUndertakingscore:ListedExchangeTraded2020-04-012020-12-3110652116core:ListedExchangeTraded2020-04-012020-12-3110652116dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-04-012020-12-3110652116core:UnlistedNon-exchangeTraded2020-04-012020-12-3110652116dpl:CostSales2019-04-012020-03-3110652116dpl:DistributionCosts2019-04-012020-03-3110652116dpl:AdministrativeExpenses2019-04-012020-03-3110652116core:LandBuildings2019-04-012020-03-3110652116core:PlantMachinery2019-04-012020-03-3110652116core:Vehicles2019-04-012020-03-3110652116core:FurnitureFittings2019-04-012020-03-3110652116core:OfficeEquipment2019-04-012020-03-3110652116core:NetGoodwill2019-04-012020-03-3110652116core:IntangibleAssetsOtherThanGoodwill2019-04-012020-03-3110652116dpl:GroupUndertakings2019-04-012020-03-3110652116dpl:ParticipatingInterests2019-04-012020-03-3110652116dpl:GroupUndertakingscore:ListedExchangeTraded2019-04-012020-03-3110652116core:ListedExchangeTraded2019-04-012020-03-3110652116dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2019-04-012020-03-3110652116core:UnlistedNon-exchangeTraded2019-04-012020-03-3110652116core:NetGoodwill2020-12-3110652116core:IntangibleAssetsOtherThanGoodwill2020-12-3110652116core:LandBuildings2020-12-3110652116core:PlantMachinery2020-12-3110652116core:Vehicles2020-12-3110652116core:FurnitureFittings2020-12-3110652116core:OfficeEquipment2020-12-3110652116core:AfterOneYear2020-12-3110652116core:WithinOneYear2020-12-3110652116core:ListedExchangeTraded2020-12-3110652116core:UnlistedNon-exchangeTraded2020-12-3110652116core:ShareCapital2020-12-3110652116core:SharePremium2020-12-3110652116core:RevaluationReserve2020-12-3110652116core:OtherReservesSubtotal2020-12-3110652116core:RetainedEarningsAccumulatedLosses2020-12-3110652116core:NetGoodwill2020-03-3110652116core:IntangibleAssetsOtherThanGoodwill2020-03-3110652116core:LandBuildings2020-03-3110652116core:PlantMachinery2020-03-3110652116core:Vehicles2020-03-3110652116core:FurnitureFittings2020-03-3110652116core:OfficeEquipment2020-03-3110652116core:AfterOneYear2020-03-3110652116core:WithinOneYear2020-03-3110652116core:L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FITXR LIMITED

Registered Number
10652116
(England and Wales)

Unaudited Financial Statements for the Period Ended
31 December 2020

FITXR LIMITED
Company Information
for the period from 1 April 2020 to 31 December 2020

Directors

BAROOVA, Sameer Ranjan
COLE, Samuel Christopher Stevely
FREEMAN, Cherry Louise

Registered Address

International House
24 Holborn Viaduct
London
EC1A 2BN

Registered Number

10652116 (England and Wales)
FITXR LIMITED
Balance Sheet as at
31 December 2020

Notes

31 Dec 2020

31 Mar 2020

£

£

£

£

Fixed assets
Tangible assets7138,05434,425
Investments891
138,06334,426
Current assets
Stocks14,780-
Debtors590,375310,172
Cash at bank and on hand4,668,974293,900
5,274,129604,072
Creditors amounts falling due within one year11(531,676)(65,023)
Net current assets (liabilities)4,742,453539,049
Total assets less current liabilities4,880,516573,475
Creditors amounts falling due after one year(22,710)-
Net assets4,857,806573,475
Capital and reserves
Called up share capital6,109,7131,128,445
Profit and loss account(1,251,907)(554,970)
Shareholders' funds4,857,806573,475
  • 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 30 September 2021, and are signed on its behalf by:
COLE, Samuel Christopher Stevely
Director
Registered Company No. 10652116
FITXR LIMITED
Notes to the Financial Statements
for the period ended 31 December 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.
3.CHANGE IN REPORTING PERIOD AND IMPACT ON COMPARABILITY
The company has shortened its Accounting Period End to 31 December from 31 March. Therefore, these Financial Statements reflect the 9 month period of 1 April 2020 to 31 December 2020, with the comparatives reflecting the 12 month period from 1 April 2019 to 31 March 2020. Additionally, a change in software has given rise to immaterial reclassifications within the comparatives shown.
4.BASIS OF MEASUREMENT USED IN FINANCIAL STATEMENTS
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.ACCOUNTING POLICIES
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
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)

Office Equipment3
Inventories policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.EMPLOYEE INFORMATION




2020



2020

Average number of employees during the year3218
7.PROPERTY, PLANT AND EQUIPMENT



Total
£

Cost or valuation
At 01 April 2051,878
Additions133,035
At 31 December 20184,066
Depreciation and impairment
At 01 April 2017,453
Charge for year29,406
At 31 December 2046,012
Net book value
At 31 December 20138,054
At 31 March 2034,425
8.FIXED ASSET INVESTMENTS



Total
£

Cost or valuation
At 01 April 201
Additions8
At 31 December 209
Net book value
At 31 December 209
At 31 March 201
9.DESCRIPTION OF NATURE OF TRANSACTIONS AND BALANCES WITH RELATED PARTIES
During the period, FitXR Limited undertook transactions with its wholly owned subsidiary, FitXR Productions Limited. Under the Agreements in place between the two parties, FitXR Limited transacted with FitXR Productions Limited in respect of development costs of £2,388,750 (including in Cost of Sales in the Income Statement) and FitXR Productions Limited transacted with FitXR Limited in respect of resourcing fees of £2,388,750 (included in Turnover in the Income Statement).
10.DEBTORS WITHIN ONE YEAR
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.



2020
£


2020
£

Trade debtors / trade receivables472,509273,670
Other debtors111,96630,602
Prepayments and accrued income5,9005,900
Total590,375310,172
11.CREDITORS WITHIN ONE YEAR
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.



2020
£


2020
£

Trade creditors / trade payables133,78124,060
Amounts owed to related parties2,2712,263
Taxation and social security86,25935,442
Payments received on account301,865-
Other creditors-3,258
Accrued liabilities and deferred income7,500-
Total531,67665,023