Oasis Health & Fitness Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09990306 (England and Wales)

OASIS HEALTH & FITNESS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2022

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Ahmed

REGISTERED OFFICE:

Sidings House

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

REGISTERED NUMBER:

09990306 (England and Wales)

FIXED ASSETS

Intangible assets

4

59,312

77,562

Tangible assets

5

633,314

602,433

692,626

679,995

CURRENT ASSETS

Stocks

19,368

20,641

Debtors

76,703

178,402

Cash at bank and in hand

470,766

84,523

566,837

283,566

CREDITORS

Amounts falling due within one year

462,066

396,120

NET CURRENT ASSETS/(LIABILITIES)

104,771

(112,554

)

TOTAL ASSETS LESS CURRENT LIABILITIES

797,397

567,441

CREDITORS

Amounts falling due after more than one year

(116,314

)

(166,655

)

PROVISIONS FOR LIABILITIES

(124,087

)

(82,855

)

NET ASSETS

556,996

317,931

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

556,896

317,831

556,996

317,931

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2023 and were signed by:

A Ahmed - Director

1.	STATUTORY INFORMATION

Oasis Health & Fitness 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

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

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

Plant and machinery etc

-

15% - 25% on reducing balance

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.

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.

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 72 (2021 - 70 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

and 31 December 2022

182,500

AMORTISATION

At 1 January 2022

104,938

Amortisation for year

18,250

At 31 December 2022

123,188

NET BOOK VALUE

At 31 December 2022

59,312

At 31 December 2021

77,562

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

954,336

Additions

121,197

At 31 December 2022

1,075,533

DEPRECIATION

At 1 January 2022

351,903

Charge for year

90,316

At 31 December 2022

442,219

NET BOOK VALUE

At 31 December 2022

633,314

At 31 December 2021

602,433

Included in fixed assets are assets held under hire purchase contracts with a net book value of £253,959 (2021: £363,332). Depreciation charged in respect of those assets was £16,868 (2021: £27,766)

6.	GOVERNMENT ASSISTANCE

During the year the company has received grant income under HM Government Coronavirus Job Retention Scheme totalling £nil (2021: £192,473), from HMRC regarding SSP £780, from Rotherham Metropolitan Borough Council under the Small Business Grants Fund totalling £6,250 (2021: £36,665) and from North Lincolnshire Council under the Small Business Grants Fund totalling £nil (2021-£36,787).

Amounts recognised are included in Other Income.

The company has received assistance from HM Government by way of relief from business rates for the 2020/21 and 2021/22 financial years.