Company registration number 12175723 (England and Wales)
THE GREAT OUTDOOR GYM COMPANY ACTIVATE
Unaudited Financial Statements
For The Year Ended 31 January 2023
Pages For Filing With Registrar
The Great Outdoor Gym Company Activate
THE GREAT OUTDOOR GYM COMPANY ACTIVATE
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
The Great Outdoor Gym Company Activate
THE GREAT OUTDOOR GYM COMPANY ACTIVATE
Balance Sheet
As At 31 January 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
15,387
20,187
Investments
4
150,000
150,000
165,387
170,187
Current assets
Cash at bank and in hand
345
326
Creditors: amounts falling due within one year
5
(449,057)
(331,708)
Net current liabilities
(448,712)
(331,382)
Net liabilities
(283,325)
(161,195)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(283,425)
(161,295)
Total equity
(283,325)
(161,195)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 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 6 October 2023 and are signed on its behalf by:
Mr M Delaney
Mrs G Delaney
Director
Director
Company Registration No. 12175723
The Great Outdoor Gym Company Activate
THE GREAT OUTDOOR GYM COMPANY ACTIVATE
Notes To The Financial Statements
For The Year Ended 31 January 2023
- 2 -
1
Accounting policies
Company information

The Great Outdoor Gym Company Activate is a private company limited by shares incorporated in England and Wales. The registered office is C/O Chavereys, 2 Jubilee Way, Faversham, Kent, ME13 8GD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised.

1.3
Intangible fixed assets
Website development
5 years straight line

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

 

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

1.4
Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

The Great Outdoor Gym Company Activate
THE GREAT OUTDOOR GYM COMPANY ACTIVATE
Notes To The Financial Statements (Continued)
For The Year Ended 31 January 2023
1
Accounting policies
(Continued)
- 3 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The Great Outdoor Gym Company Activate
THE GREAT OUTDOOR GYM COMPANY ACTIVATE
Notes To The Financial Statements (Continued)
For The Year Ended 31 January 2023
1
Accounting policies
(Continued)
- 4 -
1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Intangible fixed assets
Other
£
Cost
At 1 February 2022 and 31 January 2023
24,000
Amortisation and impairment
At 1 February 2022
3,813
Amortisation charged for the year
4,800
At 31 January 2023
8,613
Carrying amount
At 31 January 2023
15,387
At 31 January 2022
20,187
4
Fixed asset investments
2023
2022
£
£
Other investments other than loans
150,000
150,000
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
69
69
Taxation and social security
3,295
7
Other creditors
445,693
331,632
449,057
331,708
The Great Outdoor Gym Company Activate
THE GREAT OUTDOOR GYM COMPANY ACTIVATE
Notes To The Financial Statements (Continued)
For The Year Ended 31 January 2023
- 5 -
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
100 of £1 each
100
100
100
100
2023-01-312022-02-01false11 October 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityMr M DelaneyMrs G Delaney121757232022-02-012023-01-31121757232023-01-31121757232022-01-3112175723core:IntangibleAssetsOtherThanGoodwill2023-01-3112175723core:IntangibleAssetsOtherThanGoodwill2022-01-3112175723core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3112175723core:CurrentFinancialInstrumentscore:WithinOneYear2022-01-3112175723core:CurrentFinancialInstruments2023-01-3112175723core:CurrentFinancialInstruments2022-01-3112175723core:ShareCapital2023-01-3112175723core:ShareCapital2022-01-3112175723core:RetainedEarningsAccumulatedLosses2023-01-3112175723core:RetainedEarningsAccumulatedLosses2022-01-3112175723bus:Director12022-02-012023-01-3112175723bus:Director22022-02-012023-01-3112175723core:PatentsTrademarksLicencesConcessionsSimilar2022-02-012023-01-31121757232021-02-012022-01-3112175723core:IntangibleAssetsOtherThanGoodwill2022-01-3112175723core:IntangibleAssetsOtherThanGoodwill2022-02-012023-01-3112175723bus:PrivateLimitedCompanyLtd2022-02-012023-01-3112175723bus:SmallCompaniesRegimeForAccounts2022-02-012023-01-3112175723bus:FRS1022022-02-012023-01-3112175723bus:AuditExemptWithAccountantsReport2022-02-012023-01-3112175723bus:FullAccounts2022-02-012023-01-31xbrli:purexbrli:sharesiso4217:GBP