Acorah Software Products - Accounts Production 15.0.600 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 NI648800 Mr Mark Teague Mr Peter Campbell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI648800 2022-10-31 NI648800 2023-10-31 NI648800 2022-11-01 2023-10-31 NI648800 frs-core:Non-currentFinancialInstruments 2023-10-31 NI648800 frs-core:PlantMachinery 2022-11-01 2023-10-31 NI648800 frs-core:ShareCapital 2023-10-31 NI648800 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI648800 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 NI648800 frs-bus:AbridgedAccounts 2022-11-01 2023-10-31 NI648800 frs-bus:SmallEntities 2022-11-01 2023-10-31 NI648800 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 NI648800 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 NI648800 frs-bus:Director1 2022-11-01 2023-10-31 NI648800 frs-bus:Director2 2022-11-01 2023-10-31 NI648800 frs-countries:NorthernIreland 2022-11-01 2023-10-31 NI648800 2021-10-31 NI648800 2022-10-31 NI648800 2021-11-01 2022-10-31 NI648800 frs-core:Non-currentFinancialInstruments 2022-10-31 NI648800 frs-core:ShareCapital 2022-10-31 NI648800 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: NI648800
Source Gyms Ltd
ABRIDGED Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3
Page 1
Abridged Balance Sheet
Registered number: NI648800
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 39,012 48,765
39,012 48,765
CURRENT ASSETS
Cash at bank and in hand 1,505 100
1,505 100
Creditors: Amounts Falling Due Within One Year (64,537 ) (56,681 )
NET CURRENT ASSETS (LIABILITIES) (63,032 ) (56,581 )
TOTAL ASSETS LESS CURRENT LIABILITIES (24,020 ) (7,816 )
Creditors: Amounts Falling Due After More Than One Year (48,398 ) (42,921 )
NET LIABILITIES (72,418 ) (50,737 )
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account (72,518 ) (50,837 )
SHAREHOLDERS' FUNDS (72,418) (50,737)
Page 1
Page 2
For the year ending 31 October 2023 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 Balance Sheet for the year end 31 October 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Peter Campbell
Director
18/10/2024
The notes on page 3 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Source Gyms Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI648800 . The registered office is 2 Bankmore Business Park , Bankmore Road, Omagh, Co Tyrone, BT79 0BE.
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Plant & Machinery 20%
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 4)
7 4
4. Tangible Assets
Total
£
Cost
As at 1 November 2022 92,042
As at 31 October 2023 92,042
Depreciation
As at 1 November 2022 43,277
Provided during the period 9,753
As at 31 October 2023 53,030
Net Book Value
As at 31 October 2023 39,012
As at 1 November 2022 48,765
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 3