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REGISTERED NUMBER: 08187449 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

LEAMINGTON & WARWICK GYMNASTICS CLUB LTD

LEAMINGTON & WARWICK GYMNASTICS CLUB LTD (REGISTERED NUMBER: 08187449)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LEAMINGTON & WARWICK GYMNASTICS CLUB LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: A J O'Neill
D J O'Neill





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 08187449 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

LEAMINGTON & WARWICK GYMNASTICS CLUB LTD (REGISTERED NUMBER: 08187449)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 54,580 58,027

CURRENT ASSETS
Stocks 1,075 1,075
Debtors 5 21,834 14,451
Investments 6 17,000 17,000
Cash at bank 213,134 273,499
253,043 306,025
CREDITORS
Amounts falling due within one year 7 184,454 141,582
NET CURRENT ASSETS 68,589 164,443
TOTAL ASSETS LESS CURRENT
LIABILITIES

123,169

222,470

CREDITORS
Amounts falling due after more than one
year

8

(7,909

)

(18,218

)

PROVISIONS FOR LIABILITIES (13,645 ) (13,449 )
NET ASSETS 101,615 190,803

CAPITAL AND RESERVES
Called up and paid share capital 100 100
Retained earnings 101,515 190,703
SHAREHOLDERS' FUNDS 101,615 190,803

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

LEAMINGTON & WARWICK GYMNASTICS CLUB LTD (REGISTERED NUMBER: 08187449)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 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 27 January 2025 and were signed on its behalf by:




A J O'Neill - Director



D J O'Neill - Director


LEAMINGTON & WARWICK GYMNASTICS CLUB LTD (REGISTERED NUMBER: 08187449)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Leamington & Warwick Gymnastics Club Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 net invoiced membership fees excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - in accordance with the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

LEAMINGTON & WARWICK GYMNASTICS CLUB LTD (REGISTERED NUMBER: 08187449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 16,622 117,599 55,913 14,769 204,903
Additions - - 10,820 1,700 12,520
At 31 August 2024 16,622 117,599 66,733 16,469 217,423
DEPRECIATION
At 1 September 2023 16,622 95,420 24,126 10,708 146,876
Charge for year - 5,545 8,521 1,901 15,967
At 31 August 2024 16,622 100,965 32,647 12,609 162,843
NET BOOK VALUE
At 31 August 2024 - 16,634 34,086 3,860 54,580
At 31 August 2023 - 22,179 31,787 4,061 58,027

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 311 649
Prepayments and accrued income 21,523 13,802
21,834 14,451

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 17,000 17,000

LEAMINGTON & WARWICK GYMNASTICS CLUB LTD (REGISTERED NUMBER: 08187449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,311 10,056
Trade creditors 18,352 14,687
Tax 55,621 38,543
Social security and other taxes 7,189 6,378
VAT 33,267 30,612
Other creditors 26,606 27,949
Directors' current accounts 18,030 -
Accruals and deferred income 15,078 13,357
184,454 141,582

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 7,909 18,218