| REGISTERED NUMBER: |
| RSG UK Group Limited |
| Audited Financial Statements |
| for the Period |
| 1 January 2023 to 30 June 2024 |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| 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 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| Additions |
| Impairments | (4,162,261 | ) | (622,476 | ) | (4,784,737 | ) |
| At 30 June 2024 |
| DEPRECIATION |
| At 1 January 2023 |
| Charge for period |
| Impairments | ( |
) | ( |
) | ( |
) |
| At 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 31 December 2022 |
| 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 |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.24 | 31.12.22 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.6.24 | 31.12.22 |
| £ | £ |
| Other creditors |
| 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 |
| Between one and five years |
| In more than five years |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.6.24 | 31.12.22 |
| value: | £ | £ |
| 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. |
| for and on behalf of |
| 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 |