DIESEL GYM CIC

Company limited by guarantee

Company Registration Number:
11947994 (England and Wales)

Unaudited statutory accounts for the year ended 30 April 2024

Period of accounts

Start date: 30 April 2023

End date: 30 April 2024

DIESEL GYM CIC

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

DIESEL GYM CIC

Balance sheet

As at 30 April 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 86,874 89,652
Total fixed assets: 86,874 89,652
Current assets
Debtors: 4 20,813 20,813
Cash at bank and in hand: 4,073 12,314
Total current assets: 24,886 33,127
Creditors: amounts falling due within one year: 5 ( 8,875 ) ( 8,020 )
Net current assets (liabilities): 16,011 25,107
Total assets less current liabilities: 102,885 114,759
Provision for liabilities: ( 11,752 ) ( 12,512 )
Total net assets (liabilities): 91,133 102,247
Members' funds
Profit and loss account: 91,133 102,247
Total members' funds: 91,133 102,247

The notes form part of these financial statements

DIESEL GYM CIC

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption 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.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 29 January 2025
and signed on behalf of the board by:

Name: Cliff Bura
Status: Director

The notes form part of these financial statements

DIESEL GYM CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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 depreciation policy

    All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows: Fixtures and fittings - 10 yr SL Plant and machinery - 20% RB Vehicles - 5 yr SL Office Equipment - 20% RB

    Other accounting policies

    Employee benefits Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period. Deferred tax 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.

DIESEL GYM CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 7 6

DIESEL GYM CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 30 April 2023 62,284 51,543 3,940 7,000 124,767
Additions 4,080 9,255 149 0 13,484
Disposals
Revaluations
Transfers
At 30 April 2024 66,364 60,798 4,089 7,000 138,251
Depreciation
At 30 April 2023 24,860 8,485 1,653 117 35,115
Charge for year 8,295 6,080 487 1,400 16,262
On disposals
Other adjustments
At 30 April 2024 33,155 14,565 2,140 1,517 51,377
Net book value
At 30 April 2024 33,209 46,233 1,949 5,483 86,874
At 29 April 2023 37,424 43,058 2,287 6,883 89,652

DIESEL GYM CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Debtors

2024 2023
£ £
Other debtors 20,813 20,813
Total 20,813 20,813

DIESEL GYM CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 5,746 1,150
Taxation and social security 879 4,187
Other creditors 2,250 2,683
Total 8,875 8,020

COMMUNITY INTEREST ANNUAL REPORT

DIESEL GYM CIC

Company Number: 11947994 (England and Wales)

Year Ending: 30 April 2024

Company activities and impact

In the year 2023-24, we provided: - Over 200 self funded free community classes ( including 150+ ladies only sessions). - We provided free mid night classes throughout the month of Ramadan to encourage those members of the community who fasts during that month to maintain an exercise regime for when they break their fast. - We provided over an estimated 16,000 free exercise visits. - We also invested/donated approximately £70k in to the formation of another Community Interested Company – Diesel AK CIC based in neighbouring authority of Greenwich. - We also won a competitive bid for the creation and management of a new community cafe and community centre – the Will Thorne Pavilion CIC. - We provided free facilities and a subsidised coach for local SEMH school – the EKO Trust. - We provided 39 free memberships some of which were NHS social prescription referrals and Newham council mental health/or gang related referrals. - We provide 120 subsidised membership to key workers, full time students and to those on benefits. - We provided low cost classes for children under the age of 16 for an additional 142 new children.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

Total remuneration for directors is £124,447 (2023 - £117,543). This is comprised entirely of payroll based compensation including salary, NI contributions and workplace pension.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
29 January 2025

And signed on behalf of the board by:
Name: Cliff Bura
Status: Director