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REGISTERED NUMBER: 05295514 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Pumping Iron Limited

Pumping Iron Limited (Registered number: 05295514)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Pumping Iron Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Dr Z Pallikaros





SECRETARY: Mr N Pallikaros





REGISTERED OFFICE: 31 Oakleigh Road South
London
N11 1LD





REGISTERED NUMBER: 05295514 (England and Wales)





ACCOUNTANTS: Cymans
Chartered Certified Accountants
1146 High Road
Whetstone
London
N20 0RA

Pumping Iron Limited (Registered number: 05295514)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 17,334 13,689
Investment property 5 808,222 808,222
825,556 821,911

CURRENT ASSETS
Cash at bank and in hand 21,717 19,899

CREDITORS
Amounts falling due within one year 6 367,356 363,228
NET CURRENT LIABILITIES (345,639 ) (343,329 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

479,917

478,582

CREDITORS
Amounts falling due after more than one
year

7

290,159

309,199
NET ASSETS 189,758 169,383

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 189,658 169,283
SHAREHOLDERS' FUNDS 189,758 169,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Pumping Iron Limited (Registered number: 05295514)

Statement of Financial Position - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





Dr Z Pallikaros - Director


Pumping Iron Limited (Registered number: 05295514)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Pumping Iron Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue 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.
Plant and machinery etc - 10% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pumping Iron Limited (Registered number: 05295514)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2023 41,556
Additions 7,978
At 31 December 2023 49,534
DEPRECIATION
At 1 January 2023 27,867
Charge for year 4,333
At 31 December 2023 32,200
NET BOOK VALUE
At 31 December 2023 17,334
At 31 December 2022 13,689

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 808,222
NET BOOK VALUE
At 31 December 2023 808,222
At 31 December 2022 808,222

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 8,357 6,363
Other creditors 358,999 356,865
367,356 363,228

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 290,159 309,199

Pumping Iron Limited (Registered number: 05295514)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.12.23 31.12.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 290,159 309,199