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REGISTERED NUMBER: 06622373 (England and Wales)















TITANIUM GYMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






TITANIUM GYMS LIMITED (REGISTERED NUMBER: 06622373)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TITANIUM GYMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: Mr C Soupashis





SECRETARY:





REGISTERED OFFICE: Hale House, Unit 5
296a Green Lanes
Palmers Green
London
N13 5TP





REGISTERED NUMBER: 06622373 (England and Wales)





ACCOUNTANTS: T. PA Accountancy Services Limited
Hale House
Unit 5
296a Green Lanes
Palmers Green
London
N13 5TP

TITANIUM GYMS LIMITED (REGISTERED NUMBER: 06622373)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,708 33,096

CURRENT ASSETS
Stocks 5 2,220 1,925
Cash at bank and in hand 9,203 8,192
11,423 10,117
CREDITORS
Amounts falling due within one year 6 13,287 14,017
NET CURRENT LIABILITIES (1,864 ) (3,900 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,844

29,196

CREDITORS
Amounts falling due after more than one year 7 69,647 28,974
NET ASSETS 197 222

CAPITAL AND RESERVES
Called up share capital 8 99 99
Retained earnings 9 98 123
SHAREHOLDERS' FUNDS 197 222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

TITANIUM GYMS LIMITED (REGISTERED NUMBER: 06622373)

BALANCE SHEET - continued
30 JUNE 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 11 September 2023 and were signed by:





Mr C Soupashis - Director


TITANIUM GYMS LIMITED (REGISTERED NUMBER: 06622373)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Titanium Gyms 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.

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 - 10% on cost
Computer equipment - 25% 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.

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.

TITANIUM GYMS LIMITED (REGISTERED NUMBER: 06622373)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 July 2022 98,887 699 99,586
Additions 46,593 - 46,593
At 30 June 2023 145,480 699 146,179
DEPRECIATION
At 1 July 2022 65,875 615 66,490
Charge for year 7,960 21 7,981
At 30 June 2023 73,835 636 74,471
NET BOOK VALUE
At 30 June 2023 71,645 63 71,708
At 30 June 2022 33,012 84 33,096

5. STOCKS
2023 2022
£    £   
Stocks 2,220 1,925

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,013 2,133
Corporation tax payable 499 499
Social security and other taxes 343 620
VAT 3,848 2,338
Directors' current accounts 151 577
Accrued expenses 5,433 7,850
13,287 14,017

TITANIUM GYMS LIMITED (REGISTERED NUMBER: 06622373)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans more 5 yr by instal 42,063 -
Bounce Back Loan 27,584 28,974
69,647 28,974

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 42,063 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
99 Ordinary £1 99 99

9. RESERVES
Retained
earnings
£   

At 1 July 2022 123
Profit for the year 2,975
Dividends (3,000 )
At 30 June 2023 98