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REGISTERED NUMBER: 07564345 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

POWER HOUSE GYM (UK) LTD

POWER HOUSE GYM (UK) LTD (REGISTERED NUMBER: 07564345)






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


POWER HOUSE GYM (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: K Hussain





REGISTERED OFFICE: Unit 23 St Georges Road
Donnington
Telford
Shrops
TF2 7QZ





REGISTERED NUMBER: 07564345 (England and Wales)





ACCOUNTANTS: Armstrongs
Chartered Accountants and Tax Advisers
1 & 2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX

POWER HOUSE GYM (UK) LTD (REGISTERED NUMBER: 07564345)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,398 9,274

CURRENT ASSETS
Debtors 5 62,499 64,695
Cash at bank 1,197 2,025
63,696 66,720
CREDITORS
Amounts falling due within one year 6 36,000 25,981
NET CURRENT ASSETS 27,696 40,739
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,094

50,013

CREDITORS
Amounts falling due after more than one
year

7

(32,925

)

(38,272

)

PROVISIONS FOR LIABILITIES (3,044 ) (1,762 )
NET ASSETS 22,125 9,979

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 22,025 9,879
SHAREHOLDERS' FUNDS 22,125 9,979

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 director acknowledges his 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.

POWER HOUSE GYM (UK) LTD (REGISTERED NUMBER: 07564345)

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 director and authorised for issue on 28 February 2024 and were signed by:





K Hussain - Director


POWER HOUSE GYM (UK) LTD (REGISTERED NUMBER: 07564345)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Power House Gym (UK) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
When the outcome of a transaction can be estimated reliably, turnover from gym memberships and goods sold is recognised in relation to the accounting period under review. Stage of completion of a transaction is recognised once the monetary value of the service provided by the company has been received by the customer due to the nature of the business.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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.

POWER HOUSE GYM (UK) LTD (REGISTERED NUMBER: 07564345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 50,067 50 7,260 146 57,523
Additions 28,940 - - - 28,940
At 31 March 2023 79,007 50 7,260 146 86,463
DEPRECIATION
At 1 April 2022 43,856 50 4,197 146 48,249
Charge for year 7,050 - 766 - 7,816
At 31 March 2023 50,906 50 4,963 146 56,065
NET BOOK VALUE
At 31 March 2023 28,101 - 2,297 - 30,398
At 31 March 2022 6,211 - 3,063 - 9,274

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 57,500 59,695
Other debtors 4,999 5,000
62,499 64,695

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,343 5,340
Trade creditors 150 1,175
Amounts owed to group undertakings 8,434 -
Corporation tax - 9,296
Social security and other taxes 328 708
Credit card 10,687 6,858
Directors' current accounts 8,376 690
Accrued expenses 2,682 1,914
36,000 25,981

POWER HOUSE GYM (UK) LTD (REGISTERED NUMBER: 07564345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 5,343 5,340
Bank loans - 2-5 years 16,030 16,019
Bank loans more 5 yr by instal 11,552 16,913
32,925 38,272

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 11,552 16,913

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K Hussain.