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REGISTERED NUMBER: 06355688 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2023

FOR

RIPPED GYM LIMITED

RIPPED GYM LIMITED (REGISTERED NUMBER: 06355688)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31ST AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RIPPED GYM LIMITED

COMPANY INFORMATION
for the Year Ended 31ST AUGUST 2023







DIRECTORS: Mrs M Meade-Wyatt
D M Wyatt





REGISTERED OFFICE: 4 Wych Elm
Harlow
Essex
CM20 1QP





REGISTERED NUMBER: 06355688 (England and Wales)





ACCOUNTANTS: SRG Newmans Limited
Five Ways
57-59 Hatfield Road
Potters Bar
Hertfordshire
EN6 1HS

RIPPED GYM LIMITED (REGISTERED NUMBER: 06355688)

BALANCE SHEET
31ST AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,154 61,209
Investments 5 98,617 49,091
150,771 110,300

CURRENT ASSETS
Stocks 6,000 5,200
Debtors 6 6,662 25,750
Cash at bank and in hand 95,023 112,577
107,685 143,527
CREDITORS
Amounts falling due within one year 7 54,312 64,815
NET CURRENT ASSETS 53,373 78,712
TOTAL ASSETS LESS CURRENT
LIABILITIES

204,144

189,012

CREDITORS
Amounts falling due after more than one
year

8

(28,572

)

(44,768

)

PROVISIONS FOR LIABILITIES (9,645 ) (9,876 )
NET ASSETS 165,927 134,368

RIPPED GYM LIMITED (REGISTERED NUMBER: 06355688)

BALANCE SHEET - continued
31ST AUGUST 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 165,827 134,268
SHAREHOLDERS' FUNDS 165,927 134,368

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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.

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 19th March 2024 and were signed on its behalf by:





Mrs M Meade-Wyatt - Director


RIPPED GYM LIMITED (REGISTERED NUMBER: 06355688)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31ST AUGUST 2023

1. STATUTORY INFORMATION

Ripped 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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 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.

RIPPED GYM LIMITED (REGISTERED NUMBER: 06355688)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST AUGUST 2023

2. ACCOUNTING POLICIES - continued

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

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

RIPPED GYM LIMITED (REGISTERED NUMBER: 06355688)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST AUGUST 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Cash and cash equivalent
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st September 2022 122,534 262,548 97,443 36,780 519,305
Additions - 7,498 - - 7,498
At 31st August 2023 122,534 270,046 97,443 36,780 526,803
DEPRECIATION
At 1st September 2022 122,534 226,245 90,737 18,580 458,096
Charge for year - 10,307 1,697 4,549 16,553
At 31st August 2023 122,534 236,552 92,434 23,129 474,649
NET BOOK VALUE
At 31st August 2023 - 33,494 5,009 13,651 52,154
At 31st August 2022 - 36,303 6,706 18,200 61,209

RIPPED GYM LIMITED (REGISTERED NUMBER: 06355688)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST AUGUST 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st September 2022
and 31st August 2023 30,980
DEPRECIATION
At 1st September 2022 13,554
Charge for year 4,356
At 31st August 2023 17,910
NET BOOK VALUE
At 31st August 2023 13,070
At 31st August 2022 17,426

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1st September 2022 49,091
Additions 49,526
At 31st August 2023 98,617
NET BOOK VALUE
At 31st August 2023 98,617
At 31st August 2022 49,091

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 3,678 18,303
Ripped Gym Basildon Ltd 2,984 2,484
Directors' current accounts - 4,963
6,662 25,750

RIPPED GYM LIMITED (REGISTERED NUMBER: 06355688)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST AUGUST 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 10,088 10,088
Hire purchase contracts 6,196 6,196
Trade creditors 4,101 17,566
Tax 21,861 26,033
Social security and other taxes - 1,162
VAT 9,547 1,055
Other creditors - 90
Directors' current accounts 144 -
Accrued expenses 2,375 2,625
54,312 64,815

Included within bank loans and overdrafts is a loan taken out under the BBL scheme.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 18,245 28,245
Hire purchase contracts 10,327 16,523
28,572 44,768

Included within bank loans is a loan taken out under the BBL scheme.

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,088 10,088

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,340 10,340

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,905 17,905

RIPPED GYM LIMITED (REGISTERED NUMBER: 06355688)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST AUGUST 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 16,523 22,719

11. RELATED PARTY DISCLOSURES

At the year end, the company was owed £2,984 (2022 - £2,484) from Ripped Gym Basildon Ltd.