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Registered number: 11964706

Metheringham Gym Ltd

ACCOUNTS
FOR THE YEAR ENDED 31/03/2024

Prepared By:
Greenhalgh Johnson Ltd
Accountants & Tax Advisers
Elland House
22 High Street
Burgh le Marsh
Lincolnshire
PE24 5JT

Metheringham Gym Ltd

ACCOUNTS
FOR THE YEAR ENDED 31/03/2024
DIRECTORS
Graeme William Theodore
Ian Anthony Greaves
REGISTERED OFFICE
12 Moor Lane
Metheringham
Lincolnshire
LN4 3HX
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 11964706
ACCOUNTANTS
Greenhalgh Johnson Ltd
Accountants & Tax Advisers
Elland House
22 High Street
Burgh le Marsh
Lincolnshire
PE24 5JT

Metheringham Gym Ltd

ACCOUNTS
FOR THEYEARENDED31/03/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Metheringham Gym Ltd

BALANCE SHEET AT 31/03/2024
20242023
Notes££
FIXED ASSETS
Tangible assets318,55818,957
CURRENT ASSETS
Stock18173
Debtors52,3412,155
Cash at bank and in hand31,53522,610
34,05724,838
CREDITORS: Amounts falling due within one year647,97239,065
NET CURRENT LIABILITIES(13,915)(14,227)
TOTAL ASSETS LESS CURRENT LIABILITIES4,6434,730
PROVISIONS FOR LIABILITIES AND CHARGES73,5263,601
NET ASSETS1,1171,129
CAPITAL AND RESERVES
Called up share capital822
Profit and loss account1,1151,127
SHAREHOLDERS' FUNDS1,1171,129
For the year ending 31/03/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 23/07/2024 and signed on their behalf by
.............................
Graeme William Theodore
Director
.............................
Ian Anthony Greaves

Metheringham Gym Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machinery 25%
Fixtures and Fittings 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1e. Government Grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Metheringham Gym Ltd

2. EMPLOYEES
20242023
No.No.
Average number of employees65
3. TANGIBLE FIXED ASSETS
Plant andFixtures
Machineryand FittingsTotal
£££
Cost
At 01/04/202329,41610,49239,908
Additions8,1789359,113
Disposals(5,034)(534)(5,568)
At 31/03/202432,56010,89343,453
Depreciation
At 01/04/202314,7646,18720,951
Disposals(1,912)(261)(2,173)
For the year4,8761,2416,117
At 31/03/202417,7287,16724,895
Net Book Amounts
At 31/03/202414,8323,72618,558
At 31/03/202314,6524,30518,957
4. STOCK 20242023
££
Stock comprises:
Stock18173
18173
5. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors1,253-
Other debtors1,0002,042
Prepayments88113
2,3412,155

Metheringham Gym Ltd

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax1,4211,335
VAT2,1952,214
PAYE control316-
Pension control4616
Directors current account - I Greaves3,2488,006
Directors current account - G Theodore3,2488,023
Trade creditors377257
Other creditors35,10017,550
Accruals2,0211,664
47,97239,065
7. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation3,5263,601
3,5263,601
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each22
22
9. LEASE COMMITMENTS
The company has rent commitments due under a non cancellable operating lease of £15,600 payable not later than one year.
Lease payments recognised as an expense in the year were £15,600.