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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
Page
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IRON FOUNDRY GYM & FITNESS LIMITED Company Information for the year ended 31 March 2023
Director
S J Goodwin
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
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IRON FOUNDRY GYM & FITNESS LIMITED Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
6,000 
7,000 
Tangible assets
18,005 
22,507 
24,005 
29,507 
Current assets
Inventories
885 
1,406 
Cash at bank and in hand
8,362 
2,692 
9,247 
4,098 
Creditors: amounts falling due within one year
(37,593)
(38,939)
Net current liabilities
(28,346)
(34,841)
Net liabilities
(4,341)
(5,334)
Capital and reserves
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
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IRON FOUNDRY GYM & FITNESS LIMITED Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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
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.
Going concern
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.
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IRON FOUNDRY GYM & FITNESS LIMITED Notes to the Accounts for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 April 2022
8,000 
- 
8,000 
At 31 March 2023
8,000 
- 
8,000 
Amortisation
At 1 April 2022
- 
1,000 
1,000 
Charge for the year
- 
1,000 
1,000 
At 31 March 2023
- 
2,000 
2,000 
Net book value
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 
Depreciation
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 
Net book value
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 
Accruals
850 
420 
37,593 
38,939 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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