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Hawth Gymnastics Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

Registration number: 5351577

 

Hawth Gymnastics Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Hawth Gymnastics Limited

(Registration number: 5351577)
Statement of financial position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

44,504

47,228

Current assets

 

Stocks

5

420

2,923

Debtors

6

7,296

2,115

Cash at bank and in hand

 

81,812

99,696

 

89,528

104,734

Creditors: Amounts falling due within one year

7

(83,881)

(56,861)

Net current assets

 

5,647

47,873

Total assets less current liabilities

 

50,151

95,101

Provisions for liabilities

(8,456)

(8,974)

Net assets

 

41,695

86,127

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

41,693

86,125

Shareholders' funds

 

41,695

86,127

For the financial year ending 31 March 2025 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 28 May 2025 and signed on its behalf by:
 

.........................................
Mrs Sally-Anne Warner
Director

 

Hawth Gymnastics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

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

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the Board on 28 May 2025.

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.

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.

Government grants

Government grants are accounted for in the same accounting period as any underlying expenditure. During the year the entity was in receipt of government grant funds from hte Job Retention Scheme. JRS income is recognised in the same period as the underlying salary expense.

Other grants

Other grants, such as grants from gymnastics governing bodies, are recognised in the period that they are received.

 

Hawth Gymnastics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred 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.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Fixtures, fittings and equipment

10% Straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

 

Hawth Gymnastics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 32 (2024 - 38).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

89,294

89,294

Additions

4,780

4,780

At 31 March 2025

94,074

94,074

Depreciation

At 1 April 2024

42,066

42,066

Charge for the year

7,504

7,504

At 31 March 2025

49,570

49,570

Carrying amount

At 31 March 2025

44,504

44,504

At 31 March 2024

47,228

47,228

5

Stocks

2025
£

2024
£

Finished goods and goods for resale

420

2,923

 

Hawth Gymnastics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

2025
£

2024
£

Other debtors

7,296

2,115

7,296

2,115

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

1,170

-

Taxation and social security

30,636

34,053

Accruals and deferred income

45,750

16,656

Other creditors

6,325

6,152

83,881

56,861

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

2

2

2

2