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Registered number: 10716729
Synergi Weightlifting Club Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
James Khan
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 10716729
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 33,117 40,719
33,117 40,719
CURRENT ASSETS
Cash at bank and in hand 214 8,652
214 8,652
Creditors: Amounts Falling Due Within One Year 5 (36,138 ) (51,644 )
NET CURRENT ASSETS (LIABILITIES) (35,924 ) (42,992 )
TOTAL ASSETS LESS CURRENT LIABILITIES (2,807 ) (2,273 )
NET LIABILITIES (2,807 ) (2,273 )
Income and Expenditure Account (2,807 ) (2,273 )
MEMBERS' FUNDS (2,807) (2,273)
For the year ending 31 March 2024 the company was entitled to exemption from audit 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 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 Income and Expenditure Account.
On behalf of the board
Verity Eaton
Director
31/07/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Synergi Weightlifting Club Ltd is a private company, limited by guarantee, incorporated in England & Wales, registered number 10716729 . The registered office is 120 Strathnairn Street, Cardiff, CF24 3JP.
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 15% Straight Line
Fixtures & Fittings 10% Straight Line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 2
Page 3
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 2,328 72,534 74,862
As at 31 March 2024 2,328 72,534 74,862
Depreciation
As at 1 April 2023 1,810 32,333 34,143
Provided during the period 349 7,253 7,602
As at 31 March 2024 2,159 39,586 41,745
Net Book Value
As at 31 March 2024 169 32,948 33,117
As at 1 April 2023 518 40,201 40,719
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 34,494 51,644
Taxation and social security 1,644 -
36,138 51,644
6. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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