IRIS Accounts Production v23.2.0.158 07494084 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure074940842022-03-31074940842023-03-31074940842022-04-012023-03-31074940842021-03-31074940842021-04-012022-03-31074940842022-03-3107494084ns16:EnglandWales2022-04-012023-03-3107494084ns15:PoundSterling2022-04-012023-03-3107494084ns11:Director12022-04-012023-03-3107494084ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3107494084ns11:SmallEntities2022-04-012023-03-3107494084ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3107494084ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3107494084ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3107494084ns11:FullAccounts2022-04-012023-03-310749408412022-04-012023-03-3107494084ns11:Director22022-04-012023-03-3107494084ns11:RegisteredOffice2022-04-012023-03-3107494084ns6:CurrentFinancialInstruments2023-03-3107494084ns6:CurrentFinancialInstruments2022-03-3107494084ns6:Non-currentFinancialInstruments2023-03-3107494084ns6:Non-currentFinancialInstruments2022-03-3107494084ns6:ShareCapital2023-03-3107494084ns6:ShareCapital2022-03-3107494084ns6:CapitalRedemptionReserve2023-03-3107494084ns6:CapitalRedemptionReserve2022-03-3107494084ns6:RetainedEarningsAccumulatedLosses2023-03-3107494084ns6:RetainedEarningsAccumulatedLosses2022-03-3107494084ns6:NetGoodwill2022-04-012023-03-3107494084ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3107494084ns6:FurnitureFittings2022-04-012023-03-3107494084ns6:MotorVehicles2022-04-012023-03-3107494084ns6:ComputerEquipment2022-04-012023-03-3107494084ns6:NetGoodwill2022-03-3107494084ns6:NetGoodwill2023-03-3107494084ns6:NetGoodwill2022-03-3107494084ns6:LongLeaseholdAssetsns6:LandBuildings2022-03-3107494084ns6:FurnitureFittings2022-03-3107494084ns6:MotorVehicles2022-03-3107494084ns6:ComputerEquipment2022-03-3107494084ns6:LongLeaseholdAssetsns6:LandBuildings2022-04-012023-03-3107494084ns6:LongLeaseholdAssetsns6:LandBuildings2023-03-3107494084ns6:FurnitureFittings2023-03-3107494084ns6:MotorVehicles2023-03-3107494084ns6:ComputerEquipment2023-03-3107494084ns6:LongLeaseholdAssetsns6:LandBuildings2022-03-3107494084ns6:FurnitureFittings2022-03-3107494084ns6:MotorVehicles2022-03-3107494084ns6:ComputerEquipment2022-03-3107494084ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3107494084ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31
REGISTERED NUMBER: 07494084 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 March 2023

for

Simply Gym Limited

Simply Gym Limited (Registered number: 07494084)






Contents of the Financial Statements
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Simply Gym Limited

Company Information
For The Year Ended 31 March 2023







DIRECTORS: P D Taylor
G Taylor





REGISTERED OFFICE: St. Oswald's Road
Gloucester
Gloucestershire
GL1 2TF





REGISTERED NUMBER: 07494084 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Simply Gym Limited (Registered number: 07494084)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,640,110 2,710,886
2,640,110 2,710,886

CURRENT ASSETS
Stocks 1,474 1,457
Debtors 6 440,771 322,212
Cash at bank and in hand 818,087 290,632
1,260,332 614,301
CREDITORS
Amounts falling due within one year 7 793,818 757,336
NET CURRENT ASSETS/(LIABILITIES) 466,514 (143,035 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,106,624

2,567,851

CREDITORS
Amounts falling due after more than one
year

8

(730,000

)

(1,250,000

)

PROVISIONS FOR LIABILITIES (372,434 ) (361,694 )
NET ASSETS 2,004,190 956,157

CAPITAL AND RESERVES
Called up share capital 66 66
Capital redemption reserve 33 33
Retained earnings 2,004,091 956,058
2,004,190 956,157

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Simply Gym Limited (Registered number: 07494084)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2023 and were signed on its behalf by:





P D Taylor - Director


Simply Gym Limited (Registered number: 07494084)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Simply Gym Limited 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 2013, is being amortised evenly over its estimated useful life of five 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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Basic financial liabilities, including trade and other creditors are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year.

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Simply Gym Limited (Registered number: 07494084)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 112 (2022 - 117 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 169,999
AMORTISATION
At 1 April 2022
and 31 March 2023 169,999
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Simply Gym Limited (Registered number: 07494084)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 100,000 4,974,449 18,941 18,688 5,112,078
Additions - 354,157 - 833 354,990
At 31 March 2023 100,000 5,328,606 18,941 19,521 5,467,068
DEPRECIATION
At 1 April 2022 - 2,384,540 1,579 15,073 2,401,192
Charge for year - 420,152 4,341 1,273 425,766
At 31 March 2023 - 2,804,692 5,920 16,346 2,826,958
NET BOOK VALUE
At 31 March 2023 100,000 2,523,914 13,021 3,175 2,640,110
At 31 March 2022 100,000 2,589,909 17,362 3,615 2,710,886

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 4,471 31,082
Amounts owed by group undertakings 123,636 -
Other debtors 312,664 291,130
440,771 322,212

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 77,584 155,387
Taxation and social security 440,174 447,692
Other creditors 276,060 154,257
793,818 757,336

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Other creditors 730,000 1,250,000

9. RELATED PARTY DISCLOSURES

Included in other creditors: amounts falling due after more than one year are loans in the sum of £250,000 (2022: £1,250,000) due to the directors. The loans are unsecured and carry no fixed date of repayment.