Foundry Gym Wrexham Limited 15346631 false 2023-12-12 2024-12-31 2024-12-31 The principal activity of the company is operating a gym. Digita Accounts Production Advanced 6.30.9574.0 true true 15346631 2023-12-12 2024-12-31 15346631 2024-12-31 15346631 core:CurrentFinancialInstruments 2024-12-31 15346631 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 15346631 core:OtherResidualIntangibleAssets 2024-12-31 15346631 core:FurnitureFittingsToolsEquipment 2024-12-31 15346631 core:LandBuildings 2024-12-31 15346631 bus:SmallEntities 2023-12-12 2024-12-31 15346631 bus:AuditExemptWithAccountantsReport 2023-12-12 2024-12-31 15346631 bus:FilletedAccounts 2023-12-12 2024-12-31 15346631 bus:SmallCompaniesRegimeForAccounts 2023-12-12 2024-12-31 15346631 bus:RegisteredOffice 2023-12-12 2024-12-31 15346631 bus:Director1 2023-12-12 2024-12-31 15346631 bus:PrivateLimitedCompanyLtd 2023-12-12 2024-12-31 15346631 core:LicencesFranchises 2023-12-12 2024-12-31 15346631 core:OtherResidualIntangibleAssets 2023-12-12 2024-12-31 15346631 core:Buildings 2023-12-12 2024-12-31 15346631 core:FurnitureFittingsToolsEquipment 2023-12-12 2024-12-31 15346631 core:LandBuildings 2023-12-12 2024-12-31 15346631 countries:EnglandWales 2023-12-12 2024-12-31 iso4217:GBP xbrli:pure

Registration number: 15346631

Foundry Gym Wrexham Limited

Unaudited Filleted Financial Statements

for the Period from 12 December 2023 to 31 December 2024

 

Foundry Gym Wrexham Limited

(Registration number: 15346631)
Balance Sheet as at 31 December 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

8,333

Tangible assets

5

62,148

 

70,481

Current assets

 

Debtors

32,218

Cash at bank and in hand

 

33

 

32,251

Creditors: Amounts falling due within one year

(157,419)

Net current liabilities

 

(125,168)

Net liabilities

 

(54,687)

Capital and reserves

 

Called up share capital

2

Retained earnings

(54,689)

Shareholders' deficit

 

(54,687)

For the financial period ending 31 December 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 period 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 and 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 24 June 2025 and signed on its behalf by:
 

.........................................
R Whetton
Director

 

Foundry Gym Wrexham Limited

Notes to the Unaudited Financial Statements for the Period from 12 December 2023 to 31 December 2024

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:
Unit B1b
Foundry Gym Wrexham
Eagles Meadow Shopping Centre
Wrexham
LL13 8DG
Wales

These financial statements were authorised for issue by the Board on 24 June 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.

Going concern

The company has net liabilities. The directors have provided assurances that they will continue to meet all liabilities as and when they fall due. As such, 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.

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.

 

Foundry Gym Wrexham Limited

Notes to the Unaudited Financial Statements for the Period from 12 December 2023 to 31 December 2024

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

Short leasehold

20% straight line

Furniture and equipment

20% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchises

20% 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

 

Foundry Gym Wrexham Limited

Notes to the Unaudited Financial Statements for the Period from 12 December 2023 to 31 December 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions

10,000

10,000

At 31 December 2024

10,000

10,000

Amortisation

Amortisation charge

1,667

1,667

At 31 December 2024

1,667

1,667

Carrying amount

At 31 December 2024

8,333

8,333

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

55,988

16,960

72,948

At 31 December 2024

55,988

16,960

72,948

Depreciation

Charge for the period

8,072

2,728

10,800

At 31 December 2024

8,072

2,728

10,800

Carrying amount

At 31 December 2024

47,916

14,232

62,148

Included within the net book value of land and buildings above is £47,916 in respect of short leasehold land and buildings.