2023-05-012024-04-302024-04-30false10374223OADBY & LEICESTER GYMNASTICS CLUB 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OADBY & LEICESTER GYMNASTICS CLUB LTD

Registered Number
10374223
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

OADBY & LEICESTER GYMNASTICS CLUB LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

Jon Mutch

Registered Address

5 Harwood Close
Ratby
Leicester
LE6 0PT

Registered Number

10374223 (England and Wales)
OADBY & LEICESTER GYMNASTICS CLUB LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets37,2009,600
Tangible assets4103,403119,326
110,603128,926
Current assets
Debtors537,79539,213
Cash at bank and on hand1,244640
39,03939,853
Creditors amounts falling due within one year6(152,218)(101,799)
Net current assets (liabilities)(113,179)(61,946)
Total assets less current liabilities(2,576)66,980
Creditors amounts falling due after one year7(23,833)(67,833)
Net assets(26,409)(853)
Capital and reserves
Called up share capital100100
Profit and loss account(26,509)(953)
Shareholders' funds(26,409)(853)
The financial statements were approved and authorised for issue by the Director on 8 October 2024, and are signed on its behalf by:
Jon Mutch
Director
Registered Company No. 10374223
OADBY & LEICESTER GYMNASTICS CLUB LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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 and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings5-
Plant and machinery-5
Office Equipment-5
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 May 2312,00012,000
At 30 April 2412,00012,000
Amortisation and impairment
At 01 May 232,4002,400
Charge for year2,4002,400
At 30 April 244,8004,800
Net book value
At 30 April 247,2007,200
At 30 April 239,6009,600
4.Tangible fixed assets

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 May 23117,43875,80518,189211,432
At 30 April 24117,43875,80518,189211,432
Depreciation and impairment
At 01 May 2317,82758,32915,95092,106
Charge for year4,9808,7302,21315,923
At 30 April 2422,80767,05918,163108,029
Net book value
At 30 April 2494,6318,74626103,403
At 30 April 2399,61117,4762,239119,326
5.Debtors: amounts due within one year

2024

2023

££
Other debtors23,19524,613
Total23,19524,613
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts22,000-
Taxation and social security26,02725,177
Other creditors103,29275,122
Accrued liabilities and deferred income8991,500
Total152,218101,799
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts23,83367,833
Total23,83367,833