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REGISTERED NUMBER: 13806516 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Gym Plus Coffee UK Ltd

Gym Plus Coffee UK Ltd (Registered number: 13806516)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gym Plus Coffee UK Ltd

Company Information
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: W K Scourfield
N Horgan
D McSweeney





REGISTERED OFFICE: The Stable Yard
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN





REGISTERED NUMBER: 13806516 (England and Wales)






Gym Plus Coffee UK Ltd (Registered number: 13806516)

Balance Sheet
30 JUNE 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 65,081 -
Tangible assets 5 92,298 -
157,379 -

CURRENT ASSETS
Stocks 578,722 -
Debtors 6 117,912 1
Cash at bank 1,089,322 -
1,785,956 1
CREDITORS
Amounts falling due within one year 7 2,220,749 -
NET CURRENT (LIABILITIES)/ASSETS (434,793 ) 1
TOTAL ASSETS LESS CURRENT
LIABILITIES

(277,414

)

1

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (277,415 ) -
(277,414 ) 1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Gym Plus Coffee UK Ltd (Registered number: 13806516)

Balance Sheet - continued
30 JUNE 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 Board of Directors and authorised for issue on 11 June 2025 and were signed on its behalf by:





W K Scourfield - Director


Gym Plus Coffee UK Ltd (Registered number: 13806516)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Gym Plus Coffee UK 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.

The company began trading on 1 July 2024.

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.

Going concern
These accounts have been prepared on the going concern basis. The company has net liabilities on the balance sheet and is reliant upon the continued support of the parent company.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Intangible asset
Trademark

Intangible assets are valued at cost less accumulated amortisation.

Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10 years.

Computer software

Acquired computer software, is stated at cost less any accumulated amortisation and any accumulated impairment losses. Cost comprises of purchase price and any other directly attributable costs.
Computer software is recognised if it meets the following criteria:
- An asset can be separately identified
- It is probable that the asset created will generate future economic benefits; It is probable that the expected future economic benefit that are attributable to the asset will flow to the entity; and
- The cost of the asset can be measured reliably
Computer software is amortised over its expected useful life, which ranges from 3 to 10 years, by charging equal instalments to the income statement from the date the assets are ready for use.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% straight line on cost

Gym Plus Coffee UK Ltd (Registered number: 13806516)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

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

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


Gym Plus Coffee UK Ltd (Registered number: 13806516)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange difference are dealt with in the Profit and Loss Account.

Ordinary share capital
The ordinary share capital of the company is presented as equity

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
Additions 133,771
At 30 June 2024 133,771
AMORTISATION
Amortisation for year 68,690
At 30 June 2024 68,690
NET BOOK VALUE
At 30 June 2024 65,081

Gym Plus Coffee UK Ltd (Registered number: 13806516)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
Additions 109,605
At 30 June 2024 109,605
DEPRECIATION
Charge for year 17,307
At 30 June 2024 17,307
NET BOOK VALUE
At 30 June 2024 92,298

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 86,745 -
Other debtors 31,167 1
117,912 1

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 153,703 -
Amounts owed to group undertakings 1,718,792 -
Taxation and social security 94,799 -
Other creditors 253,455 -
2,220,749 -

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Gym Plus Coffee Ltd.

61-62 Fitzwilliam Lane, Dublin 2, D02AK46, Republic of Ireland.