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REGISTERED NUMBER: SC493792 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

GYM64.COM LTD

GYM64.COM LTD (REGISTERED NUMBER: SC493792)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GYM64.COM LTD

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A Goodsir
Mrs N Goodsir





REGISTERED OFFICE: 6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
G13NQ





REGISTERED NUMBER: SC493792 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

GYM64.COM LTD (REGISTERED NUMBER: SC493792)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 341,471 325,704

CURRENT ASSETS
Debtors 5 136,817 110,270
Cash at bank 46,919 20,816
183,736 131,086
CREDITORS
Amounts falling due within one year 6 408,623 310,500
NET CURRENT LIABILITIES (224,887 ) (179,414 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

116,584

146,290

CREDITORS
Amounts falling due after more than one
year

7

38,400

82,530
NET ASSETS 78,184 63,760

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 78,084 63,660
SHAREHOLDERS' FUNDS 78,184 63,760

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 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 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.

GYM64.COM LTD (REGISTERED NUMBER: SC493792)

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 Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





A Goodsir - Director


GYM64.COM LTD (REGISTERED NUMBER: SC493792)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Gym64.com Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.
Improvements to property - 4% on a straight line basis
Plant and machinery - 20% on a reducing balance basis
Computer equipment - 33% on a straight line basis

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 23 ) .

GYM64.COM LTD (REGISTERED NUMBER: SC493792)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 January 2023 239,436 265,967 11,617 517,020
Additions - 55,544 11,790 67,334
At 31 December 2023 239,436 321,511 23,407 584,354
DEPRECIATION
At 1 January 2023 63,863 123,404 4,049 191,316
Charge for year 9,577 35,104 6,886 51,567
At 31 December 2023 73,440 158,508 10,935 242,883
NET BOOK VALUE
At 31 December 2023 165,996 163,003 12,472 341,471
At 31 December 2022 175,573 142,563 7,568 325,704

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 136,817 110,270

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 25,600 25,600
Trade creditors 202,688 91,428
Taxation and social security 84,823 79,389
Other creditors 95,512 114,083
408,623 310,500

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 38,400 64,000
Other creditors - 18,530
38,400 82,530

GYM64.COM LTD (REGISTERED NUMBER: SC493792)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans - 55,590

The other loan is secured by personal guarantees by the directors.