Registered number
08021752
NR Gym Limited
Filleted Accounts
30 June 2024
NR Gym Limited
Registered number: 08021752
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 239,672 277,160
Current assets
Stocks 3,140 1,650
Debtors 4 58,637 -
Cash at bank and in hand 62,222 163,090
123,999 164,740
Creditors: amounts falling due within one year 5 (197,279) (188,220)
Net current liabilities (73,280) (23,480)
Total assets less current liabilities 166,392 253,680
Creditors: amounts falling due after more than one year 6 - (15,588)
Provisions for liabilities (49,581) (44,804)
Net assets 116,811 193,288
Capital and reserves
Called up share capital 2 2
Profit and loss account 116,809 193,286
Shareholders' funds 116,811 193,288
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Rousel Chowdhury
Director
Approved by the board on 2 January 2025
NR Gym Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings not depreciated
Fixtures & Equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 7
3 Tangible fixed assets
Leasehold Improvements Fixtures & Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 41,347 303,666 136,054 481,067
Additions - 8,042 - 8,042
At 30 June 2024 41,347 311,708 136,054 489,109
Depreciation
At 1 July 2023 - 157,362 46,545 203,907
Charge for the year - 23,152 22,378 45,530
At 30 June 2024 - 180,514 68,923 249,437
Net book value
At 30 June 2024 41,347 131,194 67,131 239,672
At 30 June 2023 41,347 146,304 89,509 277,160
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 58,637 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 19,956 30,000
Trade creditors 96,996 124,331
Taxation and social security costs 76,928 29,590
Other creditors 3,399 4,299
197,279 188,220
6 Creditors: amounts falling due after one year 2024 2023
£ £
Directors' Loan Account - 15,588
7 Other information
NR Gym Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Mill
Greengate Road
Keighley
West Yorkshire
BD21 5LH
NR Gym Limited 08021752 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 Mr Rousel Chowdhury No description of principal activity 08021752 2022-07-01 2023-06-30 08021752 core:WithinOneYear 2023-06-30 08021752 core:AfterOneYear 2023-06-30 08021752 core:ShareCapital 2023-06-30 08021752 core:RetainedEarningsAccumulatedLosses 2023-06-30 08021752 2023-07-01 2024-06-30 08021752 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08021752 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08021752 bus:Director40 2023-07-01 2024-06-30 08021752 1 2023-07-01 2024-06-30 08021752 2 2023-07-01 2024-06-30 08021752 core:LandBuildings 2023-07-01 2024-06-30 08021752 core:PlantMachinery 2023-07-01 2024-06-30 08021752 core:Vehicles 2023-07-01 2024-06-30 08021752 countries:England 2023-07-01 2024-06-30 08021752 bus:FRS102 2023-07-01 2024-06-30 08021752 bus:FilletedAccounts 2023-07-01 2024-06-30 08021752 2024-06-30 08021752 core:WithinOneYear 2024-06-30 08021752 core:AfterOneYear 2024-06-30 08021752 core:ShareCapital 2024-06-30 08021752 core:RetainedEarningsAccumulatedLosses 2024-06-30 08021752 core:LandBuildings 2024-06-30 08021752 core:PlantMachinery 2024-06-30 08021752 core:Vehicles 2024-06-30 08021752 2023-06-30 08021752 core:LandBuildings 2023-06-30 08021752 core:PlantMachinery 2023-06-30 08021752 core:Vehicles 2023-06-30 iso4217:GBP xbrli:pure