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REGISTERED NUMBER: 09929820 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

OLYMPUS GYMNASTICS CLUB LTD

OLYMPUS GYMNASTICS CLUB LTD (REGISTERED NUMBER: 09929820)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OLYMPUS GYMNASTICS CLUB LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: P J Edwards
J A Edwards
M Abbiati



REGISTERED OFFICE: 25 Grosvenor Road
Wrexham
LL11 1BT



REGISTERED NUMBER: 09929820 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25 Grosvenor Road
Wrexham
LL11 1BT



BANKERS: Santander UK plc
Bridle Road
Bootle
L30 4GB

OLYMPUS GYMNASTICS CLUB LTD (REGISTERED NUMBER: 09929820)

BALANCE SHEET
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,593 26,342

CURRENT ASSETS
Debtors 5 4,934 6,694
Cash at bank 65,495 49,671
70,429 56,365
CREDITORS
Amounts falling due within one year 6 15,500 6,832
NET CURRENT ASSETS 54,929 49,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,522

75,875

PROVISIONS FOR LIABILITIES 7 2,832 3,603
NET ASSETS 68,690 72,272

RESERVES
Income and expenditure account 68,690 72,272
68,690 72,272

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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 surplus or deficit 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 4th September 2024 and were signed on its behalf by:



P J Edwards - Director


OLYMPUS GYMNASTICS CLUB LTD (REGISTERED NUMBER: 09929820)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Olympus Gymnastics Club Ltd is a private company, limited by guarantee , 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
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.
Plant and machinery - 15% on cost
Gym equipment - 25% on cost
Computer equipment - 15% on cost

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 surplus or deficit 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.

OLYMPUS GYMNASTICS CLUB LTD (REGISTERED NUMBER: 09929820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Gym Computer
machinery equipment equipment Totals
£    £    £    £   
COST
At 1st January 2023 4,875 105,013 4,196 114,084
Additions - 4,453 933 5,386
At 31st December 2023 4,875 109,466 5,129 119,470
DEPRECIATION
At 1st January 2023 1,434 83,320 2,988 87,742
Charge for year 732 14,014 389 15,135
At 31st December 2023 2,166 97,334 3,377 102,877
NET BOOK VALUE
At 31st December 2023 2,709 12,132 1,752 16,593
At 31st December 2022 3,441 21,693 1,208 26,342

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 325
Other debtors 4,357 5,628
Tax - 329
Prepayments 577 412
4,934 6,694

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors (326 ) (612 )
Tax 36 -
Social security and other taxes 2,139 3,619
Other creditors 1,280 896
Directors' current accounts 1,674 1,050
Accrued expenses 10,697 1,879
15,500 6,832

7. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 2,832 4,528
Tax losses carried forward - (925 )
2,832 3,603

OLYMPUS GYMNASTICS CLUB LTD (REGISTERED NUMBER: 09929820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st January 2023 3,603
Movement in year due to:
changes in tax rates 86
changes in tax allowances (1,782 )
movement in losses available 925
Balance at 31st December 2023 2,832

8. CAPITAL COMMITMENTS
31.12.23 31.12.22
£    £   
Contracted but not provided for in the
financial statements - -

9. LIMITED BY GUARANTEE

The company is limited by guarantee, and at the year end had 4 members (2022: 4). Each member has undertaken to pay £1 to the company in the event that it is wound up. The value of the guarantee at the year end is, therefore, £4 (2022: £4).