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REGISTERED NUMBER: 14406951 (England and Wales)















MALONEYS GYM LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 10 OCTOBER 2022 TO 31 DECEMBER 2023






MALONEYS GYM LTD (REGISTERED NUMBER: 14406951)

CONTENTS OF THE FINANCIAL STATEMENTS
for the period 10 October 2022 to 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MALONEYS GYM LTD

COMPANY INFORMATION
for the period 10 October 2022 to 31 December 2023







DIRECTOR: S P Maloney





REGISTERED OFFICE: Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS





REGISTERED NUMBER: 14406951 (England and Wales)





ACCOUNTANTS: SMH Sheards
Chartered Accountants
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

MALONEYS GYM LTD (REGISTERED NUMBER: 14406951)

BALANCE SHEET
31 December 2023

Notes £   
FIXED ASSETS
Intangible assets 4 7,200
Tangible assets 5 29,182
36,382

CURRENT ASSETS
Stocks 1,000
Debtors 6 779
Cash at bank and in hand 401
2,180
CREDITORS
Amounts falling due within one year 7 (36,505 )
NET CURRENT LIABILITIES (34,325 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,057

PROVISIONS FOR LIABILITIES 8 (1,146 )
NET ASSETS 911

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 811
SHAREHOLDERS' FUNDS 911

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

MALONEYS GYM LTD (REGISTERED NUMBER: 14406951)

BALANCE SHEET - 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 18 September 2024 and were signed by:





S P Maloney - Director


MALONEYS GYM LTD (REGISTERED NUMBER: 14406951)

NOTES TO THE FINANCIAL STATEMENTS
for the period 10 October 2022 to 31 December 2023


1. STATUTORY INFORMATION

Maloneys Gym Ltd 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised on the supply of services to the customer excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including other creditors and accruals, are initially recognised at transaction price.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.


MALONEYS GYM LTD (REGISTERED NUMBER: 14406951)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 10 October 2022 to 31 December 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 8,000
At 31 December 2023 8,000
AMORTISATION
Charge for period 800
At 31 December 2023 800
NET BOOK VALUE
At 31 December 2023 7,200

MALONEYS GYM LTD (REGISTERED NUMBER: 14406951)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 10 October 2022 to 31 December 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 34,332
At 31 December 2023 34,332
DEPRECIATION
Charge for period 5,150
At 31 December 2023 5,150
NET BOOK VALUE
At 31 December 2023 29,182

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 779

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors (1 )
Taxation and social security 7,099
Other creditors 29,407
36,505

8. PROVISIONS FOR LIABILITIES
£   
Deferred tax 1,146

Deferred
tax
£   
Provided during period 1,146
Balance at 31 December 2023 1,146

9. RELATED PARTY DISCLOSURES

Loans owing to the directors on an interest free basis of £27,972 were outstanding at the year end, the amounts are repayable on demand.