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GYMNASTICS EXPERIENCE LIMITED

Registered Number
10487077
(England and Wales)

Unaudited Financial Statements for the Period ended
30 November 2023

GYMNASTICS EXPERIENCE LIMITED
Company Information
for the period from 6 December 2022 to 30 November 2023

Director

HANN, Jamie-Leigh

Company Secretary

HANN, Jamie-Leigh

Registered Address

8 Haddon Mead
South Woodham Ferrers
Chelmsford
CM3 7AS

Registered Number

10487077 (England and Wales)
GYMNASTICS EXPERIENCE LIMITED
Balance Sheet as at
30 November 2023

Notes

30 Nov 2023

05 Dec 2022

£

£

£

£

Fixed assets
Tangible assets312,83916,054
12,83916,054
Current assets
Debtors5,6022,541
Cash at bank and on hand2,70616,168
8,30818,709
Creditors amounts falling due within one year5(14,875)(21,484)
Net current assets (liabilities)(6,567)(2,775)
Total assets less current liabilities6,27213,279
Creditors amounts falling due after one year6(6,265)(10,312)
Net assets72,967
Capital and reserves
Called up share capital64
Profit and loss account12,963
Shareholders' funds72,967
The financial statements were approved and authorised for issue by the Director on 20 February 2024, and are signed on its behalf by:
HANN, Jamie-Leigh
Director
Registered Company No. 10487077
GYMNASTICS EXPERIENCE LIMITED
Notes to the Financial Statements
for the period ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery20-
Fixtures and fittings-5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Total

£
Cost or valuation
At 06 December 2247,029
At 30 November 2347,029
Depreciation and impairment
At 06 December 2230,975
Charge for year3,215
At 30 November 2334,190
Net book value
At 30 November 2312,839
At 05 December 2216,054
4.Debtors: amounts due within one year

2023

2022

££
Amounts owed by associates and joint ventures / participating interests5,6022,541
Total5,6022,541
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts4,0483,948
Amounts owed to related parties-68
Taxation and social security9,3886,366
Finance lease and HP contracts-3,685
Accrued liabilities and deferred income1,4397,417
Total14,87521,484
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts6,26510,312
Total6,26510,312
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
HANN, Jamie-Leigh(68)39,89536,7663,061
(68)39,89536,7663,061