Company Registration No. SC472574 (Scotland)
Gym300 (Scotland) Limited
Unaudited accounts
for the year ended 31 March 2024
Gym300 (Scotland) Limited
Unaudited accounts
Contents
Gym300 (Scotland) Limited
Company Information
for the year ended 31 March 2024
Directors
A T Ashmole
N M Ashmole
Company Number
SC472574 (Scotland)
Registered Office
Unit 2
3-5 Carsegate Road North
Inverness
IV3 8DU
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Gym300 (Scotland) Limited
Statement of financial position
as at 31 March 2024
Tangible assets
30,376
29,266
Cash at bank and in hand
7,404
11,682
Creditors: amounts falling due within one year
(17,117)
(16,947)
Net current liabilities
(5,026)
(437)
Total assets less current liabilities
25,350
28,829
Creditors: amounts falling due after more than one year
(18,639)
-
Provisions for liabilities
Deferred tax
(5,077)
(4,964)
Called up share capital
100
100
Profit and loss account
1,534
23,765
Shareholders' funds
1,634
23,865
For the year ending 31 March 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2024 and were signed on its behalf by
A T Ashmole
Director
Company Registration No. SC472574
Gym300 (Scotland) Limited
Notes to the Accounts
for the year ended 31 March 2024
Gym300 (Scotland) Limited is a private company, limited by shares, registered in Scotland, registration number SC472574. The registered office is Unit 2, 3-5 Carsegate Road North, Inverness, IV3 8DU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
15% straight line
Fixtures & fittings
20% and 25% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Gym300 (Scotland) Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Intangible fixed assets
Total
5
Tangible fixed assets
Total
6
Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
25,000
-
Later than one year and not later than five years
-
55,000
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).