Company Registration No. 13341202 (England and Wales)
IRON FOUNDRY GYM & FITNESS LIMITED
Unaudited accounts
for the year ended 31 March 2023
IRON FOUNDRY GYM & FITNESS LIMITED
Unaudited accounts
Contents
IRON FOUNDRY GYM & FITNESS LIMITED
Company Information
for the year ended 31 March 2023
Company Number
13341202 (England and Wales)
Registered Office
64-68 Ravenshorn Way
Renishaw
Sheffield
South Yorkshire
S21 3WY
Accountants
Stoney Philbin & Company Limited
7 High Street
Chapel-en-le-Frith
High Peak
SK23 0HD
IRON FOUNDRY GYM & FITNESS LIMITED
Statement of financial position
as at 31 March 2023
Intangible assets
6,000
7,000
Tangible assets
18,005
22,507
Cash at bank and in hand
8,362
2,692
Creditors: amounts falling due within one year
(37,593)
(38,939)
Net current liabilities
(28,346)
(34,841)
Net liabilities
(4,341)
(5,334)
Called up share capital
100
100
Profit and loss account
(4,441)
(5,434)
Shareholders' funds
(4,341)
(5,334)
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 September 2023 and were signed on its behalf by
S J Goodwin
Director
Company Registration No. 13341202
IRON FOUNDRY GYM & FITNESS LIMITED
Notes to the Accounts
for the year ended 31 March 2023
IRON FOUNDRY GYM & FITNESS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13341202. The registered office is 64-68 Ravenshorn Way, Renishaw, Sheffield, South Yorkshire, S21 3WY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Computer equipment
20% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
The goodwill has an estimated useful life of 8 years and is amortised on a straight line basis.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company is supported in the short term by loans from the director. The company's position after the balance sheet date has improved as a result of profitability and paying down of liabilities.
IRON FOUNDRY GYM & FITNESS LIMITED
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill
Other
Total
At 1 April 2022
8,000
-
8,000
At 31 March 2023
8,000
-
8,000
At 1 April 2022
-
1,000
1,000
Charge for the year
-
1,000
1,000
At 31 March 2023
-
2,000
2,000
At 31 March 2023
8,000
(2,000)
6,000
At 31 March 2022
8,000
(1,000)
7,000
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
27,732
940
28,672
At 31 March 2023
27,732
940
28,672
At 1 April 2022
5,977
188
6,165
Charge for the year
4,351
151
4,502
At 31 March 2023
10,328
339
10,667
At 31 March 2023
17,404
601
18,005
At 31 March 2022
21,755
752
22,507
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
-
1,745
Taxes and social security
328
-
Other creditors
11,780
11,780
Loans from directors
24,635
24,994
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).