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REGISTERED NUMBER: 08367095 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ASPIRE GYMS LIMITED

ASPIRE GYMS LIMITED (REGISTERED NUMBER: 08367095)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


ASPIRE GYMS LIMITED (REGISTERED NUMBER: 08367095)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 314,180 386,817

CURRENT ASSETS
Stocks 200 200
Debtors 5 338,065 78,813
Cash at bank and in hand 386,993 462,919
725,258 541,932
CREDITORS
Amounts falling due within one year 6 266,198 364,929
NET CURRENT ASSETS 459,060 177,003
TOTAL ASSETS LESS CURRENT
LIABILITIES

773,240

563,820

CREDITORS
Amounts falling due after more than one
year

7

(29,577

)

(228,553

)

PROVISIONS FOR LIABILITIES 9 (68,288 ) (73,495 )
NET ASSETS 675,375 261,772

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 675,275 261,672
SHAREHOLDERS' FUNDS 675,375 261,772

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





Mr P Guy - Director


ASPIRE GYMS LIMITED (REGISTERED NUMBER: 08367095)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Aspire Gyms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08367095

Registered office: 1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

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.
Improvements to property - 5% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

ASPIRE GYMS LIMITED (REGISTERED NUMBER: 08367095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 178,368 282,470 210,102 343,929 1,014,869
Additions 5,800 46,819 4,458 - 57,077
Disposals - - - (197,939 ) (197,939 )
At 31 March 2024 184,168 329,289 214,560 145,990 874,007
DEPRECIATION
At 1 April 2023 48,299 222,962 170,996 185,795 628,052
Charge for year 8,943 28,514 8,399 7,029 52,885
Eliminated on disposal - - - (121,110 ) (121,110 )
At 31 March 2024 57,242 251,476 179,395 71,714 559,827
NET BOOK VALUE
At 31 March 2024 126,926 77,813 35,165 74,276 314,180
At 31 March 2023 130,069 59,508 39,106 158,134 386,817


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,633 678
Amounts owed by group undertakings 181,198 69,482
Other debtors 155,234 8,653
338,065 78,813

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 40,000
Hire purchase contracts 4,307 46,169
Trade creditors 9,826 4,023
Amounts owed to group undertakings 163,140 163,140
Taxation and social security 44,948 108,647
Other creditors 43,977 2,950
266,198 364,929

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 93,333
Hire purchase contracts 29,577 135,220
29,577 228,553

ASPIRE GYMS LIMITED (REGISTERED NUMBER: 08367095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans - 133,333
Hire purchase contracts 33,884 181,389
33,884 314,722

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 68,288 73,495

Deferred
tax
£   
Balance at 1 April 2023 73,495
Credit to Statement of Income and Retained Earnings during year (5,207 )
Balance at 31 March 2024 68,288

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors, by virtue of their ownership of the majority of the issued share capital of the holding company, Gymworks Holdings Limited.