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REGISTERED NUMBER: 08374498 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 August 2024

for

Ripped Gym Basildon Limited

Ripped Gym Basildon Limited (Registered number: 08374498)

Contents of the Financial Statements
For The Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ripped Gym Basildon Limited

Company Information
For The Year Ended 31 August 2024







DIRECTORS: A Kani
Mrs M Meade-Wyatt





REGISTERED OFFICE: Ripped Gym Basildon Harvey Road
Burnt Mills Estate
Basildon
Essex
SS13 1EP





REGISTERED NUMBER: 08374498 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Ripped Gym Basildon Limited (Registered number: 08374498)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,489,947 1,419,435

CURRENT ASSETS
Debtors 5 4,667 3,864
Cash at bank and in hand 195,395 215,082
200,062 218,946
CREDITORS
Amounts falling due within one year 6 159,069 167,137
NET CURRENT ASSETS 40,993 51,809
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,530,940

1,471,244

CREDITORS
Amounts falling due after more than one
year

7

(555,927

)

(581,220

)

PROVISIONS FOR LIABILITIES 9 (26,283 ) (6,097 )
NET ASSETS 948,730 883,927

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 948,630 883,827
SHAREHOLDERS' FUNDS 948,730 883,927

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.

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 6 November 2024 and were signed on its behalf by:



A Kani - Director


Ripped Gym Basildon Limited (Registered number: 08374498)

Notes to the Financial Statements
For The Year Ended 31 August 2024


1. STATUTORY INFORMATION

Ripped Gym Basildon Limited 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.

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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

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
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.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

The freehold property has not been depreciated as in the opinion of the directors its market value is in excess of its original cost.

Ripped Gym Basildon Limited (Registered number: 08374498)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

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.

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.

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.

Ripped Gym Basildon Limited (Registered number: 08374498)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 September 2023 1,339,082 166,103 67,888
Additions - 24,220 40,730
Disposals - - -
At 31 August 2024 1,339,082 190,323 108,618
DEPRECIATION
At 1 September 2023 - 130,378 46,055
Charge for year - 17,035 12,831
Eliminated on disposal - - -
At 31 August 2024 - 147,413 58,886
NET BOOK VALUE
At 31 August 2024 1,339,082 42,910 49,732
At 31 August 2023 1,339,082 35,725 21,833

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 41,192 37,230 5,543 1,657,038
Additions 19,035 45,284 - 129,269
Disposals - (37,230 ) - (37,230 )
At 31 August 2024 60,227 45,284 5,543 1,749,077
DEPRECIATION
At 1 September 2023 35,562 20,461 5,147 237,603
Charge for year 4,475 7,548 99 41,988
Eliminated on disposal - (20,461 ) - (20,461 )
At 31 August 2024 40,037 7,548 5,246 259,130
NET BOOK VALUE
At 31 August 2024 20,190 37,736 297 1,489,947
At 31 August 2023 5,630 16,769 396 1,419,435

Ripped Gym Basildon Limited (Registered number: 08374498)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023 33,830
Additions 45,284
Disposals (33,830 )
At 31 August 2024 45,284
DEPRECIATION
At 1 September 2023 19,558
Charge for year 7,548
Eliminated on disposal (19,558 )
At 31 August 2024 7,548
NET BOOK VALUE
At 31 August 2024 37,736
At 31 August 2023 14,272

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,667 3,864

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 52,411 55,855
Hire purchase contracts 4,691 5,407
Trade creditors 13,027 3,491
Taxation and social security 84,215 95,384
Other creditors 4,725 7,000
159,069 167,137

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 526,586 572,252
Hire purchase contracts 29,341 8,968
555,927 581,220

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable after
more than five years 316,941 245,198
316,941 245,198

Ripped Gym Basildon Limited (Registered number: 08374498)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 578,997 628,107

Bank loans are secured by a charge against the company's freehold premises at Harvey Road, Basildon, SS13 1EP and Unit 4, Wych Elm, Harlow, CM20 1QP.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 26,283 6,097

Deferred
tax
£   
Balance at 1 September 2023 6,097
Charge to Statement of Income and Retained Earnings during year 20,186
Balance at 31 August 2024 26,283

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100