1 April 2023 false No description of principal activity Taxfiler 2024.6 SC472574business:PrivateLimitedCompanyLtd2023-04-012024-03-31 SC4725742023-03-31 SC4725742023-04-012024-03-31 SC472574business:AuditExemptWithAccountantsReport2023-04-012024-03-31 SC472574business:AbridgedAccounts2023-04-012024-03-31 SC4725742024-03-31 SC472574business:Director12023-04-012024-03-31 SC472574business:Director22023-04-012024-03-31 SC472574business:RegisteredOffice2023-04-012024-03-31 SC4725742023-03-31 SC472574core:WithinOneYear2024-03-31 SC472574core:WithinOneYear2023-03-31 SC472574core:AfterOneYear2024-03-31 SC472574core:AfterOneYear2023-03-31 SC472574core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 SC472574core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 SC472574core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 SC472574core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 SC472574core:PreviouslyStatedAmount2024-03-31 SC472574core:PreviouslyStatedAmount2023-03-31 SC472574business:SmallEntities2023-04-012024-03-31 SC472574countries:Scotland2023-04-012024-03-31 SC472574core:LandBuildings2023-04-012024-03-31 SC472574core:PlantMachinery2023-04-012024-03-31 SC472574core:FurnitureFittings2023-04-012024-03-31 SC472574core:BetweenOneFiveYears2024-03-31 SC472574core:BetweenOneFiveYears2023-03-31 SC4725742022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. SC472574 (Scotland)
Gym300 (Scotland) Limited Unaudited accounts for the year ended 31 March 2024
Gym300 (Scotland) Limited Unaudited accounts Contents
Page
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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
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Gym300 (Scotland) Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
30,376 
29,266 
Current assets
Inventories
1,500 
1,500 
Debtors
3,187 
3,328 
Cash at bank and in hand
7,404 
11,682 
12,091 
16,510 
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)
Net assets
1,634 
23,865 
Capital and reserves
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
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Gym300 (Scotland) Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
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 taxation
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
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.
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Gym300 (Scotland) Limited Notes to the Accounts for the year ended 31 March 2024
4
Intangible fixed assets
Total 
£ 
Cost
At 1 April 2023
19,000 
At 31 March 2024
19,000 
Amortisation
At 1 April 2023
19,000 
At 31 March 2024
19,000 
Net book value
At 31 March 2024
- 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2023
99,794 
Additions
11,068 
At 31 March 2024
110,862 
Depreciation
At 1 April 2023
70,528 
Charge for the year
9,958 
At 31 March 2024
80,486 
Net book value
At 31 March 2024
30,376 
At 31 March 2023
29,266 
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 
25,000 
55,000 
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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