Acorah Software Products - Accounts Production 15.0.600 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 07133124 Mr Colin Hall Mr Martin Skipp iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07133124 2023-04-30 07133124 2024-04-30 07133124 2023-05-01 2024-04-30 07133124 frs-core:CurrentFinancialInstruments 2024-04-30 07133124 frs-core:Non-currentFinancialInstruments 2024-04-30 07133124 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07133124 frs-core:RevaluationReserve 2023-05-01 2024-04-30 07133124 frs-core:RevaluationReserve 2023-04-30 07133124 frs-core:RevaluationReserve 2024-04-30 07133124 frs-core:ShareCapital 2024-04-30 07133124 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 07133124 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07133124 frs-bus:AbridgedAccounts 2023-05-01 2024-04-30 07133124 frs-bus:SmallEntities 2023-05-01 2024-04-30 07133124 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07133124 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07133124 frs-core:CostValuation 2023-04-30 07133124 frs-core:CostValuation 2024-04-30 07133124 frs-core:ProvisionsForImpairmentInvestments 2023-04-30 07133124 frs-core:ProvisionsForImpairmentInvestments 2024-04-30 07133124 frs-bus:Director1 2023-05-01 2024-04-30 07133124 frs-bus:Director2 2023-05-01 2024-04-30 07133124 frs-core:CurrentFinancialInstruments 2 2024-04-30 07133124 frs-countries:EnglandWales 2023-05-01 2024-04-30 07133124 2022-04-30 07133124 2023-04-30 07133124 2022-05-01 2023-04-30 07133124 frs-core:CurrentFinancialInstruments 2023-04-30 07133124 frs-core:Non-currentFinancialInstruments 2023-04-30 07133124 frs-core:RevaluationReserve 2023-04-30 07133124 frs-core:ShareCapital 2023-04-30 07133124 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 07133124 frs-core:CurrentFinancialInstruments 2 2023-04-30
Registered number: 07133124
Ab Salute Gym Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 April 2024
S J Walker & Co
Chartered Certified Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07133124
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 2,650,000 2,553,768
Investments 5 4,100 4,100
2,654,100 2,557,868
CURRENT ASSETS
Debtors 6 346,640 514,786
Cash at bank and in hand 44,879 76,181
391,519 590,967
Creditors: Amounts Falling Due Within One Year 7 (536,534 ) (466,792 )
NET CURRENT ASSETS (LIABILITIES) (145,015 ) 124,175
TOTAL ASSETS LESS CURRENT LIABILITIES 2,509,085 2,682,043
Creditors: Amounts Falling Due After More Than One Year 8 (479,434 ) (778,538 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (147,337 ) (109,837 )
NET ASSETS 1,882,314 1,793,668
CAPITAL AND RESERVES
Called up share capital 11 4,000 4,000
Revaluation reserve 12 589,347 493,115
Profit and Loss Account 1,288,967 1,296,553
SHAREHOLDERS' FUNDS 1,882,314 1,793,668
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For the year ending 30 April 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 Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account for the year end 30 April 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Colin Hall
Director
30th September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Ab Salute Gym Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07133124 . The registered office is 79 Wingletye Lane, Hornchurch, Essex, RM11 3AT.
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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation. 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:
Freehold Nil
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under hire purchase contracts are depreciated over their useful lives.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 9)
2 9
4. Investment Property
2024
£
Fair Value
As at 1 May 2023 2,553,768
Revaluations 96,232
As at 30 April 2024 2,650,000
The company's freehold properties were professionally valued in June 2024.
5. Investments
Subsidiaries
£
Cost
As at 1 May 2023 4,100
As at 30 April 2024 4,100
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 4,100
As at 1 May 2023 4,100
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 87,086 60,990
VAT 847 -
Amounts owed by subsidiaries 110,578 320,041
Amounts owed by associates 148,129 133,755
346,640 514,786
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 16,494 40,036
VAT - 23,906
Other creditors 205,141 200,015
Directors' loan accounts 100,212 123,783
Amounts owed to subsidiaries 213,387 77,752
Amounts owed to related parties 1,300 1,300
536,534 466,792
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors (due in more than 1 year) 479,434 778,538
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 596,531 839,539
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 147,337 109,837
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4,000 4,000
12. Reserves
Revaluation Reserve
£
As at 1 May 2023 493,115
Net investment property revaluation reserve 96,232
As at 30 April 2024 589,347
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13. Related Party Transactions
C J Hall & M D Skipp are directors and shareholders of Ab Salute Gym Ltd. They are also directors and shareholders of Ab Salute Cars Ltd and ASGC Retail Ltd and directors of Ab Salute Gym Brentwood, Ltd, Ab Salute Gym Lakeside Ltd, Ab Salute Gym Bishop Ltd, Ab Salute Gym Romford Ltd and Ab Salute Gym80 Ltd.
During the year ended 30th April 2024 Ab Salute Gym Ltd charged rents as follows :-
  • Ab Salute Gym Brentwood Ltd £64,300
  • Ab Salute Gym Lakeside Ltd £329,693
  • Ab Salute Gym Bishop Ltd £94,959
  • Ab Salute Gym Romford Ltd £41,250
As at 30th April 2024 Ab Salute Gym Ltd owed Ab Salute Gym Brentwood Ltd an amount of £96,446 including interest of £2,484 charged on the outstanding balance during the accounting period ended 30th April 2024.
As at 30th April 2024 Ab Salute Gym Lakeside Ltd owed Ab Salute Gym Ltd an amount of £68,844 including interest of £3,483 charged on the outstanding balance during the accounting period ended 30th April 2024.
As at 30th April 2024 Ab Salute Cars Ltd owed Ab Salute Gym Ltd an amount of £90,798 including interest of £2,681 charged on the outstanding balance during the accounting period ended 30th April 2024.
As at 30th April 2024 ASGC Retail Ltd owed Ab Salute Gym Ltd an amount of £57,332 including interest of £1,693 charged on the outstanding balance during the accounting period ended 30th April 2024.
As at 30th April 2024 Ab Salute Gym Bishop Ltd owed Ab Salute Gym Ltd an amount of £41,734 including interest of £1232 charged on the outstanding balance during the accounting period ended 30th April 2024.
As at 30th April 2024 Ab Salute Gym Ltd owed Ab Salute Gym Romford Ltd an amount of £116,940 including interest of £1,294 charged and interest of £1,095 received on the outstanding balance during the accounting period ended 30th April 2024.
The directors' loan account balance with the company as at 30th April 2024 was £101,212 (credit).
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