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REGISTERED NUMBER: 10712961 (England and Wales)























Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Yourgym Lytham Ltd

Yourgym Lytham Ltd (Registered number: 10712961)

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


Yourgym Lytham Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mr A Langley





REGISTERED OFFICE: Units 1-3, Lytham Trade Park
Preston Road
Lytham St Annes
Lancashire
FY8 5FP





REGISTERED NUMBER: 10712961 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

Yourgym Lytham Ltd (Registered number: 10712961)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 70
Tangible assets 5 223,930 319,460
223,930 319,530

CURRENT ASSETS
Stocks 5,500 3,000
Debtors 6 16,462 8,000
Cash at bank and in hand 29,318 52,750
51,280 63,750
CREDITORS
Amounts falling due within one year 7 279,249 1,065,475
NET CURRENT LIABILITIES (227,969 ) (1,001,725 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,039

)

(682,195

)

CREDITORS
Amounts falling due after more than one
year

8

45,118

38,985
NET LIABILITIES (49,157 ) (721,180 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (49,257 ) (721,280 )
(49,157 ) (721,180 )

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 director acknowledges his 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.

Yourgym Lytham Ltd (Registered number: 10712961)

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 director and authorised for issue on 26 February 2025 and were signed by:





Mr A Langley - Director


Yourgym Lytham Ltd (Registered number: 10712961)

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


1. STATUTORY INFORMATION

Yourgym Lytham 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development is being amortised evenly over its estimated useful life of five years.

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 - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

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.

Yourgym Lytham Ltd (Registered number: 10712961)

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

Going concern
At the year end date the company had net liabilities of £49,157 (2023: £721,180).

The director and management team are looking at ways to improve profitability by way of increasing revenues and decreasing costs.

All liabilities and obligations are to date being met and for this reason the accounts have been prepared on a going concern basis.

Exceptional items
An intercompany loan of £725,530 that was owed to a company under common control has been written off in these accounts due to the related company being liquidated. Further details are given within the related party notes.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 13,866
AMORTISATION
At 1 May 2023 13,796
Charge for year 70
At 30 April 2024 13,866
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 70

Yourgym Lytham Ltd (Registered number: 10712961)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 243,463 644,288 94,031 6,653 988,435
Additions 12,367 21,128 - - 33,495
At 30 April 2024 255,830 665,416 94,031 6,653 1,021,930
DEPRECIATION
At 1 May 2023 108,885 496,079 57,894 6,117 668,975
Charge for year 25,583 95,695 7,227 520 129,025
At 30 April 2024 134,468 591,774 65,121 6,637 798,000
NET BOOK VALUE
At 30 April 2024 121,362 73,642 28,910 16 223,930
At 30 April 2023 134,578 148,209 36,137 536 319,460

Fixed assets, included in the above, which are held under hire purchase contracts, have a net book value of £22,955.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 16,462 8,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 15,519 14,347
Trade creditors 4,207 1
Taxation and social security 42,216 50,277
Other creditors 207,307 990,850
279,249 1,065,475

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 16,667 25,833
Hire purchase contracts (see note 9) 28,451 13,152
45,118 38,985

Yourgym Lytham Ltd (Registered number: 10712961)

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


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 15,519 14,347
Between one and five years 28,451 13,152
43,970 27,499

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 80,000 61,250
Between one and five years 320,000 -
400,000 61,250

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Hire purchase contracts 43,970 27,499
Bounce Back Loan 26,667 35,833
70,637 63,332

The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from Santander Bank PLC.

Hire purchase agreements are secured on the underlying assets acquired under the arrangements.

11. RELATED PARTY DISCLOSURES

Included within creditors is a balance of £2,558 (2023 - £2,083), which is owed by the company to National Oven Valeting Ltd, a company under common control.

Included within debtors is a balance of £8,000 (2023 - £8,000), which is owed to the company from Your Gym Sports Performance Ltd, a company under common control.

Included within debtors is a balance of £5,114 (2023 - £Nil), which is owed to the company from YG@PR4 Ltd, a company under common control.

All loans are interest free and repayable upon demand.

On 24 November 2022, a company in which Yourgym Lytham Ltd owed money to went into liquidation. The director has been in negotiations with the liquidators in respect of repayment of the monies owing. In March 2024 it was agreed that £80,000 would be payable in settlement of the £767,864 debt. This is reflected in these financial statements.