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REGISTERED NUMBER: 12358391 (England and Wales)















RSG UK Group Limited

Audited Financial Statements

for the Period

1 January 2023 to 30 June 2024






RSG UK Group Limited (Registered number: 12358391)

Contents of the Financial Statements
for the Period 1 January 2023 to 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RSG UK Group Limited

Company Information
for the Period 1 January 2023 to 30 June 2024







DIRECTORS: Dr J Mueller-Trimbusch
Mr H Wingertszahn



REGISTERED OFFICE: Roedl & Partner Legal Limited
170 Edmund Street
Birmingham
B3 2HB



REGISTERED NUMBER: 12358391 (England and Wales)



SENIOR STATUTORY AUDITOR: Caroline Peverett BA FCA



AUDITORS: Tuerner Audit Limited
Bridge House
Old Grantham Road
Whatton
Nottingham
NG13 9FG

RSG UK Group Limited (Registered number: 12358391)

Balance Sheet
30 June 2024

30.6.24 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 82,230 4,295,024

CURRENT ASSETS
Stocks 2,552 6,126
Debtors 6 707,678 489,941
Cash at bank and in hand 99,476 59,223
809,706 555,290
CREDITORS
Amounts falling due within one year 7 7,760,056 4,576,696
NET CURRENT LIABILITIES (6,950,350 ) (4,021,406 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(6,868,120

)

273,618

CREDITORS
Amounts falling due after more than one
year

8

-

(2,464,853

)

PROVISIONS FOR LIABILITIES (3,500,000 ) -
NET LIABILITIES (10,368,120 ) (2,191,235 )

CAPITAL AND RESERVES
Called up share capital 10 3,300,000 3,300,000
Retained earnings (13,668,120 ) (5,491,235 )
SHAREHOLDERS' FUNDS (10,368,120 ) (2,191,235 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:




Mr H Wingertszahn - Director



Dr J Mueller-Trimbusch - Director


RSG UK Group Limited (Registered number: 12358391)

Notes to the Financial Statements
for the Period 1 January 2023 to 30 June 2024


1. STATUTORY INFORMATION

RSG UK Group 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.

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


The financial statements cover the 18 month period from 1 January 2023 to 30 June 2024 as the company is in the process of ceasing to trade and close the business. It is the intention of the directors to exit the lease the dissolve the company withing the next 12 months.

Therefore, comparative figures are not entirely comparable.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a basis other than going concern as the company exited the lease on 17 November 2024 and it is the intention of the directors to begin proceedings to dissolve the company within the next 12 months.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is membership fees paid by members, day passes purchased by non members, entrance fees charged for special events and the sale of goods and services to users of the gym. It is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Membership Fee and day passes revenue is recognised in the period to which it relates.

Special event entrance fee revenue is recognised in the period the event takes place.

The sale of goods and services revenue is recognised when the goods and services are received by the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings- Over the remaining term of the lease
Office equipment- 5 years straight line
Computer equipment- 4 years straight line
Furniture & fixtures- 7 years straight line
Plant & machinery- 5/7 years straight line

Impairment of fixed assets

A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


RSG UK Group Limited (Registered number: 12358391)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 June 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Lease incentive
A capital contribution was receivable from the landlord of the leasehold premises and defined as a lease incentive under FRS 102. The remaining balance was released in full in the period as the lease as the lease ended.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 17 (2022 - 20 ) .

RSG UK Group Limited (Registered number: 12358391)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 June 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 4,174,241 667,170 4,841,411
Additions - 25,556 25,556
Impairments (4,162,261 ) (622,476 ) (4,784,737 )
At 30 June 2024 11,980 70,250 82,230
DEPRECIATION
At 1 January 2023 389,476 156,911 546,387
Charge for period 439,650 183,650 623,300
Impairments (829,126 ) (340,561 ) (1,169,687 )
At 30 June 2024 - - -
NET BOOK VALUE
At 30 June 2024 11,980 70,250 82,230
At 31 December 2022 3,784,765 510,259 4,295,024

The assets net book values have been adjusted for impairment. The impairment has occurred due to the decision to cease trade and close the business. The net book values at the year end reflect the sales or scrap value of the assets.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 31.12.22
£    £   
Trade debtors 67,847 70,690
Other debtors 639,831 419,251
707,678 489,941

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 31.12.22
£    £   
Trade creditors 280,379 152,111
Amounts owed to group undertakings 7,416,538 3,869,811
Taxation and social security 3,435 7,977
Other creditors 59,704 546,797
7,760,056 4,576,696

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 31.12.22
£    £   
Other creditors - 2,464,853

RSG UK Group Limited (Registered number: 12358391)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 June 2024


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.24 31.12.22
£    £   
Within one year 3,897,500 1,060,000
Between one and five years - 4,240,000
In more than five years - 2,915,000
3,897,500 8,215,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 31.12.22
value: £    £   
3,300,000 Ordinary 1 3,300,000 3,300,000

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


We draw attention to note 3 in the financial statements which explains that the directors intend to liquidate the company within the next 12 months and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 3.
Our opinion is not modified in respect of this matter.

Caroline Peverett BA FCA (Senior Statutory Auditor)
for and on behalf of Tuerner Audit Limited

12. PARENT COMPANY

The parent company of RSG UK Group Limited into which the accounts of RSG UK Group Limited are consolidated is the ultimate parent of the group RSG Group GmbH, incorporated in Germany. Their registered office address from which publicly available accounts can be obtained is:

Tannenberg 4
96132
Schlüssfield
Germany