2023-04-012024-03-312024-03-31false11854544FIERCE GYM 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FIERCE GYM LTD

Registered Number
11854544
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

FIERCE GYM LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

TOMLINSON, Jessica

Registered Address

11 Bridgeturn Aevnue
Old Wolverton
Milton Keynes
MK12 5QL

Registered Number

11854544 (England and Wales)
FIERCE GYM LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Called up share capital not paid200200
Fixed assets
Tangible assets3311,414367,306
311,414367,306
Current assets
Stocks21,52731,114
Debtors102,88996,680
Cash at bank and on hand54,08332,196
178,499159,990
Creditors amounts falling due within one year(61,167)(70,899)
Net current assets (liabilities)117,53289,291
Total assets less current liabilities428,946456,597
Creditors amounts falling due after one year(1,667,673)(1,696,772)
Net assets(1,238,727)(1,240,175)
Capital and reserves
Called up share capital200200
Profit and loss account(1,238,927)(1,240,375)
Shareholders' funds(1,238,727)(1,240,175)
The financial statements were approved and authorised for issue by the Board of Directors on 24 June 2024, and are signed on its behalf by:
TOMLINSON, Jessica
Director
Registered Company No. 11854544
FIERCE GYM LTD
Notes to the Financial Statements
for the year ended 31 March 2024

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.
Going concern
After reviewing the company's forecasts and projections, which cover the 12-month period from the date of signing the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. At the balance sheet date, the only loans are from the directors which are being repaid, the company therefore continues to adopt the going concern basis in preparing its consolidated financial statements. The company turned a profit in 23/24 and forecasts to do so in 24/25.
Revenue from sale of goods
The company dervies its income principally from the sale of fitness club memberships excluding VAT. Other income is also received from the sale of food and drink products. Membership income is recognised over the related membership period.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at histrocial less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Office Equipment33
Stocks and work in progress
Stocks are valued at LILO (last in, last out) method. The stock is fast moving so no allowances are made for obsolete stock.
2.Average number of employees

20242023
Average number of employees during the year1313
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23585,339
Additions47,258
Disposals(2,447)
At 31 March 24576,576
Depreciation and impairment
At 01 April 23218,033
Charge for year100,790
On disposals(1,305)
Other adjustments1,218
At 31 March 24265,163
Net book value
At 31 March 24311,414
At 31 March 23367,306