Company Registration Number NI631505 (Northern Ireland)
KNOWLEDGE FITNESS GYM LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
PAGES FOR FILING WITH REGISTRAR
KNOWLEDGE FITNESS GYM LTD
BALANCE SHEET
AS AT 30 SEPTEMBER 2020
30 September 2020
- 1 -
2020
2019
£
£
£
£
Fixed assets
37,704
50,405
Current assets
9,456
6,544
Prepayments and accrued income
269
1,785
Creditors: amounts falling due within one year
(247,341)
(245,550)
Net current liabilities
(237,616)
(237,221)
Total assets less current liabilities
(199,912)
(186,816)
Net liabilities
(199,912)
(186,816)
Capital and reserves
(199,912)
(186,816)
Notes to the financial statements
1
Financial commitments, guarantees and contingencies
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments
under non-cancellable operating leases
totalling £885 (2019 - £15,000).
2
Employees
The average number of persons
,
including directors
,
employed by the company during the year wa
s as follows:
2020
2019
Number
Number
Employees
3
Going concern
These financial statements have been prepared on a going concern basis, notwithstanding the fact
that the company had a net deficit of
£199,912
at the balance sheet date.
At the 30 September 2019 the company had intended to cease trading, however, the directors have since identified areas where costs can be reduced and the company continues to trade. With reduced overheads and an anticipated increase in income the directors are hopeful that the company will return to profitability.
The company meets its working capital requirements through the support of its
directors
.
Accordingly, the director
s
consider it appropriate that the financial statements for the
year
ended
3
0 September 2020 be
prepared on a going concern basis.
Knowledge Fitness Gym Ltd is a private company limited by shares incorporated in Northern Ireland. The registered office is 11e & 11f Scarva Road Industrial Estate, Banbridge, Northern Ireland, BT32 3QD.
For the year ended 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
KNOWLEDGE FITNESS GYM LTD
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2020
30 September 2020
- 2 -
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 May 2021 and are signed on its behalf by:
Mr M Campbell
Director
Company Registration Number NI631505