Ab Salute Gym Ltd

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 07133124

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		1,490,164		1,454,238

			1,490,164		1,454,238
CURRENT ASSETS
Stocks		6,548		16,860
Debtors	6	89,847		67,924
Cash at bank and in hand		16,153		23,659

		112,548		108,443
Creditors: Amounts Falling Due Within One Year	7	(318,924 )		(280,421 )

NET CURRENT ASSETS (LIABILITIES)			(206,376 )		(171,978 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,283,788		1,282,260

Creditors: Amounts Falling Due After More Than One Year	8		(393,873 )		(568,927 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(35,179 )		(27,994 )

NET ASSETS			854,736		685,339

CAPITAL AND RESERVES
Called up share capital	10		1,300		1,300
Profit and loss account			853,436		684,039

SHAREHOLDERS' FUNDS			854,736		685,339

Page 1

Ab Salute Gym Ltd

Balance Sheet (continued)

As at 31 March 2017

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The Company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account

On behalf of the board

Mr Colin Hall

17th October 2017

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Nil
Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance

1.4. Leasing and Hire Purchase Contracts

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

1.5. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.6. Deferred Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

1.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

1.8. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.

Page 3

Ab Salute Gym Ltd

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 March 2017

3. Average number of employees

Average number of employees, including directors, during the year was as follows:

	2017	2016
Office and administration	1	1
Sales, marketing and distribution	8	9

	9	10

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 April 2016	1,314,268	266,717	67,341	1,648,326
Additions	-	12,086	80,400	92,486
Disposals	-	-	(59,092 )	(59,092 )

As at 31 March 2017	1,314,268	278,803	88,649	1,681,720

Depreciation
As at 1 April 2016	-	158,715	35,373	194,088
Provided during the period	-	29,079	3,590	32,669
Disposals	-	-	(35,201 )	(35,201 )

As at 31 March 2017	-	187,794	3,762	191,556

Net Book Value
As at 31 March 2017	1,314,268	91,009	84,887	1,490,164

As at 1 April 2016	1,314,268	108,002	31,968	1,454,238

6. Debtors

	2017	2016
	£	£
Due within one year
Other debtors	89,847	67,924

	89,847	67,924

Page 4

Ab Salute Gym Ltd

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 March 2017

7. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Trade creditors	-	987
Corporation tax	64,594	65,373
Other taxes and social security	224	3,039
VAT	2,430	7,007
Other creditors	181,000	181,893
Directors' loan accounts	70,676	22,122

	318,924	280,421

8. Creditors: Amounts Falling Due After More Than One Year

	2017	2016
	£	£
Other creditors	393,873	568,927

Secured Creditors

Of the creditors falling due within and after more than one year the following amounts are secured.

	2017		2016
	£		£
Other Creditors	568,927		743,982

9. Deferred Taxation

	2017	2016
	£	£
As at 1 April 2016	27,994	23,736
Deferred taxation	7,185	4,258


Deferred tax	35,179	27,994

The provision for deferred taxation is made up of accelerated capital allowances

Page 5

Ab Salute Gym Ltd

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 March 2017

10. Share Capital

	Value	Number	2017	2016
Allotted, called up and fully paid	£		£	£
Ordinary A shares	1.000	1000	1,000	1,000

Ordinary B shares	1.000	100	100	100

Ordinary C shares	1.000	100	100	100

Ordinary D shares	1.000	100	100	100




		1300	1,300	1,300

11. Other Commitments

At the end of the period the company had annual commitments under non-cancellable operating leases as follows:

	Land and buildings		Other
	2017	2016	2017	2016
	£	£	£	£
Leases due to expire
Within 1 year	-	-	3,845	300
Between 1 and 5 years	35,000	35,000	14,220	1,367

	35,000	35,000	18,065	1,667

12. Related Party Transactions

C J Hall & M D Skipp are directors and shareholders of Ab Salute Gym Ltd. They are also directors and shareholders of Ab Salute Gym Brentwood Ltd and Ab Salute Gym Lakeside Ltd.

During the year ended 31st March 2017 Ab Salute Gym Ltd charged Ab Salute Gym Lakeside Ltd rent of £100,000 and service charges & licencing fees of £140,656. The company also charged Ab Salute Brentwood Ltd service charges of £16,250.

As at 31st March 2017 Ab Salute Gym Brentwood Ltd owed Ab Salute Gym Ltd an amount of £4,684 including interest of £95 charged on the outstanding balance during the accounting period ended 31st March 2017.

As at 31st March 2017 Ab Salute Gym Lakeside Ltd owed Ab Salute Gym Ltd an amount of £71,152 including interest of £1,873 charged on the outstanding balance during the accounting period ended 31st March 2017.

The directors' loan account balance with the company as at 31st March 2017 was £70,676 (credit).

13. General Information

Ab Salute Gym Ltd Registered number 07133124 is a limited by shares company incorporated in England & Wales. The Registered Office is 79 Wingletye Lane, Hornchurch, Essex, RM11 3AT.