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Registered number: 12691711
Gymbuddy Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
67 Meridian Centre
Havant
Hampshire
PO9 1UN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12691711
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 86,559 98,924
86,559 98,924
CURRENT ASSETS
Debtors 5 402 402
Cash at bank and in hand 35,490 12,742
35,892 13,144
Creditors: Amounts Falling Due Within One Year 6 (70,889 ) (42,814 )
NET CURRENT ASSETS (LIABILITIES) (34,997 ) (29,670 )
TOTAL ASSETS LESS CURRENT LIABILITIES 51,562 69,254
Creditors: Amounts Falling Due After More Than One Year 7 (223,551 ) (228,186 )
NET LIABILITIES (171,989 ) (158,932 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Revaluation reserve 9 (119,048 ) (119,048 )
Profit and Loss Account (52,943 ) (39,886 )
SHAREHOLDERS' FUNDS (171,989) (158,932)
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Daniel James TILL
Director
03/06/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gymbuddy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12691711 . The registered office is First Floor Unit 8, 10 Rodney Road, Southsea, PO4 8SY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 12% straight line depreciation
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 December 2022 123,654
As at 30 November 2023 123,654
Depreciation
As at 1 December 2022 24,730
Provided during the period 12,365
As at 30 November 2023 37,095
Net Book Value
As at 30 November 2023 86,559
As at 1 December 2022 98,924
Page 3
Page 4
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 402 402
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 23,416 -
VAT 13,672 3,341
Other creditors 33,801 33,801
Director's loan account - 5,672
70,889 42,814
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 10,000 10,000
Other creditors 213,551 218,186
223,551 228,186
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
9. Reserves
Revaluation Reserve
£
As at 1 December 2022 (119,048 )
As at 30 November 2023 (119,048 )
Page 4