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REGISTERED NUMBER: SC626951 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

The Shed Health Club Limited

The Shed Health Club Limited (Registered number: SC626951)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Shed Health Club Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs H F Combe
Miss R Combe





REGISTERED OFFICE: The Shed Health Club Limited
South Ythsie, Tarves
Ellon
United Kingdom
AB41 7LS





REGISTERED NUMBER: SC626951 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

The Shed Health Club Limited (Registered number: SC626951)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 547,737 408,937

CURRENT ASSETS
Stocks 612 -
Debtors 5 4,986 10,656
Cash at bank 11,722 723
17,320 11,379
CREDITORS
Amounts falling due within one year 6 451,301 341,248
NET CURRENT LIABILITIES (433,981 ) (329,869 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

113,756

79,068

CREDITORS
Amounts falling due after more than one
year

7

(60,875

)

(19,733

)

PROVISIONS FOR LIABILITIES (22,915 ) (20,837 )
NET ASSETS 29,966 38,498

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 29,964 38,496
SHAREHOLDERS' FUNDS 29,966 38,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The Shed Health Club Limited (Registered number: SC626951)

Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:




Mrs H F Combe - Director



Miss R Combe - Director


The Shed Health Club Limited (Registered number: SC626951)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

The Shed Health Club Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amounts (excluding value added tax) derived from the provision of services to customers. Revenue is recognised at the point services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Tenants improvements - 4% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

The Shed Health Club Limited (Registered number: SC626951)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Tenants Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 May 2023 349,902 78,011 8,054
Additions 75,955 24,048 9,119
At 30 April 2024 425,857 102,059 17,173
DEPRECIATION
At 1 May 2023 13,753 18,662 2,963
Charge for year - 12,718 2,255
At 30 April 2024 13,753 31,380 5,218
NET BOOK VALUE
At 30 April 2024 412,104 70,679 11,955
At 30 April 2023 336,149 59,349 5,091

The Shed Health Club Limited (Registered number: SC626951)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 16,082 7,545 459,594
Additions 46,587 - 155,709
At 30 April 2024 62,669 7,545 615,303
DEPRECIATION
At 1 May 2023 10,994 4,285 50,657
Charge for year 1,272 664 16,909
At 30 April 2024 12,266 4,949 67,566
NET BOOK VALUE
At 30 April 2024 50,403 2,596 547,737
At 30 April 2023 5,088 3,260 408,937

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 16,082
Additions 46,587
Transfer to ownership (16,082 )
At 30 April 2024 46,587
DEPRECIATION
At 1 May 2023 10,994
Transfer to ownership (10,994 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 46,587
At 30 April 2023 5,088

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 4,986 10,656

The Shed Health Club Limited (Registered number: SC626951)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 7,400 7,400
Hire purchase contracts (see note 8) 7,600 2,484
Trade creditors 6,743 6,931
Taxation and social security 2,480 -
Other creditors 427,078 324,433
451,301 341,248

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 12,333 19,733
Hire purchase contracts (see note 8) 38,542 -
Other creditors 10,000 -
60,875 19,733

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 7,600 2,484
Between one and five years 38,542 -
46,142 2,484

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 16,804 9,191
Between one and five years 8,269 -
25,073 9,191

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the shareholders.