Gymfix Solutions Limited 09681958 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is is that of the installation and maintenance of gymnasium equipment. Digita Accounts Production Advanced 6.30.9574.0 true true 09681958 2023-09-01 2024-08-31 09681958 2024-08-31 09681958 bus:OrdinaryShareClass1 2024-08-31 09681958 core:CurrentFinancialInstruments 2024-08-31 09681958 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 09681958 core:FurnitureFittings 2024-08-31 09681958 core:LandBuildings core:OwnedOrFreeholdAssets 2024-08-31 09681958 core:MotorVehicles 2024-08-31 09681958 core:PlantMachinery 2024-08-31 09681958 bus:SmallEntities 2023-09-01 2024-08-31 09681958 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09681958 bus:FilletedAccounts 2023-09-01 2024-08-31 09681958 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09681958 bus:RegisteredOffice 2023-09-01 2024-08-31 09681958 bus:Director1 2023-09-01 2024-08-31 09681958 bus:Director2 2023-09-01 2024-08-31 09681958 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 09681958 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09681958 core:FurnitureFittings 2023-09-01 2024-08-31 09681958 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 09681958 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 09681958 core:MotorVehicles 2023-09-01 2024-08-31 09681958 core:PlantMachinery 2023-09-01 2024-08-31 09681958 countries:AllCountries 2023-09-01 2024-08-31 09681958 2023-08-31 09681958 core:FurnitureFittings 2023-08-31 09681958 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 09681958 core:MotorVehicles 2023-08-31 09681958 core:PlantMachinery 2023-08-31 09681958 2022-09-01 2023-08-31 09681958 2023-08-31 09681958 bus:OrdinaryShareClass1 2023-08-31 09681958 core:CurrentFinancialInstruments 2023-08-31 09681958 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 09681958 core:FurnitureFittings 2023-08-31 09681958 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 09681958 core:MotorVehicles 2023-08-31 09681958 core:PlantMachinery 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09681958

Gymfix Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Gymfix Solutions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Gymfix Solutions Limited

Company Information

Directors

Mr Stephen Seymour

Mrs Tammy Seymour

Registered office

1 Abdy Cottages
Abdy Lane
Rawmarsh
Rotherham
South Yorkshire
S62 7SJ

Accountants

Thorntons Accounting Limited
Chartered Certified Accountants
176-178 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

Gymfix Solutions Limited

(Registration number: 09681958)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

214,529

1,657,375

Current assets

 

Debtors

5

122,278

111,492

Cash at bank and in hand

 

950,168

888,384

 

1,072,446

999,876

Creditors: Amounts falling due within one year

6

(113,698)

(115,507)

Net current assets

 

958,748

884,369

Net assets

 

1,173,277

2,541,744

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

1,173,177

2,541,644

Shareholders' funds

 

1,173,277

2,541,744

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 October 2024 and signed on its behalf by:
 

.........................................
Mr Stephen Seymour
Director

 

Gymfix Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1 Abdy Cottages
Abdy Lane
Rawmarsh
Rotherham
South Yorkshire
S62 7SJ

These financial statements were authorised for issue by the Board on 22 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Gymfix Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Straight Line Basis

Fixtures & Fittings

10% Straight Line Basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Gymfix Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 15).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 September 2023

1,543,338

94,874

-

455,192

Additions

-

-

-

90,595

Disposals

(1,406,843)

-

(8,470)

(28,272)

At 31 August 2024

136,495

94,874

(8,470)

517,515

Depreciation

At 1 September 2023

55,053

62,342

-

318,634

Charge for the year

27,299

16,395

-

82,904

Eliminated on disposal

-

-

(8,470)

(28,272)

At 31 August 2024

82,352

78,737

(8,470)

373,266

Carrying amount

At 31 August 2024

54,143

16,137

-

144,249

At 31 August 2023

1,488,285

32,532

-

136,558

 

Gymfix Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Total
£

Cost or valuation

At 1 September 2023

2,093,404

Additions

90,595

Disposals

(1,443,585)

At 31 August 2024

740,414

Depreciation

At 1 September 2023

436,029

Charge for the year

126,598

Eliminated on disposal

(36,742)

At 31 August 2024

525,885

Carrying amount

At 31 August 2024

214,529

At 31 August 2023

1,657,375

Included within the net book value of land and buildings above is £54,143 (2023 - £1,488,285) in respect of freehold land and buildings.
 

5

Debtors

2024
£

2023
£

Trade debtors

108,751

99,312

Other debtors

721

721

Prepayments

12,806

11,459

122,278

111,492

 

Gymfix Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

104,779

107,668

Accruals and deferred income

8,250

7,750

Other creditors

669

89

113,698

115,507

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       
 

Gymfix Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

72,206

67,523

Contributions paid to money purchase schemes

120,000

120,000

192,206

187,523